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On December 11, 2023, the Agreement issuing the General Provisions for the Government Accounting Archive was published in the Official Gazette of the Federation. This Agreement was issued by the National Council for Accounting Harmonization (CONAC), whose purpose is to issue accounting standards and guidelines for the generation of financial information applicable to public entities. The Agreement entered into force on the day following its publication, and its application became mandatory as of January 1, 2024.
The Agreement establishes that its objective is to define the terms that must be observed by the public entities referred to in the General Government Accounting Law (LGCG) for the custody and preservation of accounting documentation. Its scope of application includes the public entities set forth in Article 4, section XII of the LGCG, which must comply with the provisions established in the General Archives Law (LGA).
This document includes definitions that obligated entities must take into consideration, among which the following are particularly noteworthy:
Government Accounting Archive.
An organized set of accounting documents — including recording, supporting, and evidentiary documents — generated by public entities, mainly consisting of:
· Accounting books, including the Journal, General Ledger, Inventories, and Balance Sheets
· Accounting documents
· Government Accounting Manuals and provisions issued by CONAC
· Financial Statements and official periodic reports
· Information generated by the government accounting system, in accordance with the LGCG
Accounting Documents.
Documents that generate and support accounting records that affect assets or modify the elements of the Financial Statements. The most representative documents include the following:
· Recording documents Accounting documents in which the transactions carried out by a public entity are recorded and which reflect the accounting movements performed. These may be digital or physical and include, by way of example and not limitation:
- Journal voucher.
- Withdrawal Policy.
- Daily Log.
· Supporting documents. Original legal and regulatory documents that establish the obligations and rights of the public entity and support the applicable accounting records. Examples include agreements, contracts, commission letters, official resolutions, minutes of the Board of Directors or governing bodies, opinions, working papers, court resolutions, among others.
· Evidentiary documents. Original documents that demonstrate the delivery of sums of money or the receipt or provision of goods and/or services. These include, by way of example and not limitation, invoices, notes, receipts, and similar documents.
One point worth highlighting is the retention period in current and intermediate archives, in accordance with the LGA, which must be indicated in the Documentary Disposition Catalog. The Agreement states that the retention and custody period for accounting documentation shall be six years. It also emphasizes that retention periods shall be counted as of the year following the close of the fiscal year in which the accounting documentation was generated.· Likewise, certain exceptions are contemplated, including original evidentiary documentation supporting the acquisition of real estate, movable property, and intangible assets, as well as accounting documentation submitted as part of administrative or judicial proceedings that remain pending resolution.· Similarly, supporting or evidentiary documentation required to address observations issued by auditing or oversight authorities shall also be considered, when such observations remain pending clearance, under follow-up, or subject to disputes of any kind.
In conclusion, this Agreement strengthens the importance of Accounting Archives in the Government Sector, since the obligated entities subject to its application must undertake a series of actions to ensure compliance. These actions harmonize matters that are interrelated under the LGCG and the LGA, including the updating of the Documentary Disposition Catalog, the adaptation of minimum security conditions, personnel training, and, of course, awareness of the responsibilities that may arise in this area. Without a doubt, this Agreement contributes to transparency, auditing, and accountability.
Author: Jorge Luis Valdez López, M.A.
