Social Transparency Law establishes new obligations for organisations in Ecuador

ECIJA Ecuador's Public and Regulatory Law team, with the contribution of Jaime Alfonso Dousdebés Costa, presents an analysis of the new Organic Law on Social Transparency in Ecuador, which establishes new obligations of transparency, accountability, risk classification and registration of information for Non-Profit Social Organisations (OSSFL).

The new law introduces a control system based on risk levels, as well as the creation of a unified information system in which organisations must register legal, financial and operational information. It also establishes periodic reporting obligations on income, expenditures, executed projects and impact assessments.

The regulation also establishes deadlines for the implementation of the regulation and for the registration of organisations in the corresponding system, the non-compliance of which can lead to administrative sanctions, including the suspension of activities or the revocation of legal status.

This new regulatory framework implies that organisations must review their internal compliance, corporate governance, financial control and transparency processes in order to adapt to the new legal obligations.

ECIJA Ecuador invites you to review the full analysis prepared by the Public and Regulatory Law team, available at the following link: