Victor Anchundia, mayor of Guayaquil Companies, says there were peaks in 2014 of a lot of constitutions of companies and a few dissolutions. And both cases decreased in 2015 because figures “came clean.”
2014 was a turning point for the implementation of the IFRS (International Financial Reporting Standards). That made the financial statements to come clean in 2015. Thus we see: 1) more real balances, and 2) less loss resolutions, Anchundia explained in an interview with Daily Expreso.