Auditor General for Banco de la República (the Central Bank of Colombia)

The following is the organizational structure of the Auditor General’s Office approved by the Board of Directors according to Act 4031 of 16 December 1994.

Functions of the Auditor General

a) Law 31 of 1992, Article 48, and Decree 2520 of 1993, Article 74, provide that the Auditor before Banco de la República (the Central Bank of Colombia) shall have the following functions:

• To certify the Bank's financial statements.
• To exercise control over the Bank’s management and results.
• To ensure that the Bank's operations comply with the legal and statutory requirements and the corresponding decisions of the Board of Directors and the Administrative Council, the Office of the Governor, and the Bank's regulations.
• To ensure that the Bank's accounts and the Minutes of the Board of Directors and the Administrative Council are kept regularly and in accordance with the law, and that the correspondence and vouchers of the movements of the Bank's accounts are duly preserved.
• To submit to the President of Colombia and the Board of Directors an annual report on the work carried out and the general program of activities for the following year.
• To ensure the timely adoption of measures for the conservation and security of the Bank’s assets and of those held in custody or in any other capacity.
• To apply generally accepted auditing standards in its control and verification activities and to ensure compliance with accounting standards and principles.
• To comply with the other functions and responsibilities indicated by the Code of Commerce for the Statutory Auditor. 

b) Based on the provisions of Law 2056 of 2020, Article 120, and Decree 1821 of 2020, Article 2.2.1.1.1.8, Colombian Government delegates the audit of the Savings and Stabilization Fund Trust (FAE in Spanish) to the Audit of Banco de la República (the Central Bank of Colombia), with the following functions:

• To examine the financial statements of the FAE Trust to establish their reasonableness and express a professional opinion as to whether they are prepared, in all material respects, in accordance with generally accepted accounting standards.
• To verify that the transactions of the FAE Trust conform to legal and contractual requirements and to the decisions of the Investment Committee.
• To ensure that the accounts of the FAE Trust and the minutes of the Investment Committee are kept regularly and in accordance with the law, and that correspondence and vouchers of the movements of the FAE Trust accounts are duly preserved.
• To ensure the timely adoption of measures for the conservation and security of the FAE Trust's assets.
• To assess the internal control system of Banco de la República's processes related to the administration of the FAE Trust and submit the results of the evaluations and their recommendations to the Bank.
• To apply generally accepted auditing standards in its control and verification activities and to ensure compliance with accounting standards and principles.
• To perform other duties established by law.

General Auditing Directory

You can submit requests, complaints, claims, suggestions, compliments (PQR in Spanish) and report acts of corruption related to the Bank’s functions and services to the Auditor General, Norela Esperanza Jiménez Méndez, in our Citizen Services System.