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11. Audit and accounts

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The Corporation shall cause proper accounts to be kept of its income and expenditure, assets and liabilities and all other transactions of the Corporation.

(2)

Separate accounts shall be maintained for the

Mosques, Madrasas, Arabic Academy and Service institution which are under the Corporation.

(3)

The accounts of the Corporation shall be audited annually by a qualified auditor appointed by the Board of

Management.

(4)

In this section “qualified auditor ” means —

(i)

an individual who being a member of the Institute of Chartered Accountants of Sri Lanka or of any other institute established by law, possesses a certificate to practice as an Accountant issued by the Council of such institute ; or

Al-Haj Abdul Jawad Alim Valiyullah Trust

(ii)

a firm of Accountants each of the resident partners of which, being a member of the Institute of Chartered

Accountants of Sri Lanka or of any other institute established by law, possesses a certificate to practice as an Accountant issued by the Council of such institute.