Fiscal Control Management Indicators, Opportunities, and Challenges for Their Implementation

With the promulgation of Legislative Act 04/2019, whereby the fiscal control system in Colombia is reformed, and the issuance of Decree 403/2020, whereby its implementation is regulated, a great expectation has soared about the construction of a new vision of fiscal control and how its surveillance bodies must fulfill the commitments acquired by Colombia under its accession to the OECD. For this purpose, the main assumptions of the reform and the current constitutional postulates will be identified. This will serve as a normative scenario to explore the options and challenges of the reformed fiscal control regime regarding creating public value based on the implementation management indicators technique. The analysis and conceptual developments of the study intend to make a methodological contribution to the fiscal control bodies and to the National Government itself so that in implementing the reform, it incorporates a holistic view of the measurement of the control of the public sphere. It is, in short, an invitation to reflect on the effectiveness of the instruments applied in the public sector, both regarding the measurement of impacts and the achievement of results in the country’s development policies.