Regulatory Alerts2022-01-01 | JPRF-F-2022-037JPRF-F-2022-037 — Reforming the Annual Budget Approval Rules for Entities of the Public Financial System
The Financial Policy and Regulation Board (JPRF) of Ecuador issued Resolution JPRF-F-2022-037 to reform the budget management rules for public financial sector entities, aligning them with the Organic Code of Public Planning and Public Finances. The resolution mandates that these entities submit their internally approved budgets and detailed financial sustainability reports to the JPRF by October 31 of the preceding year for annual approval. It establishes strict procedures for budget execution, defines thresholds for internal versus JPRF-approved budget reforms, and requires quarterly reporting on execution control and financial performance.
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