40. Financial year and audit of accounts

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

(1)

The financial year of the Parliamentary Budget

Office shall be the calendar year.

(2)

The Parliamentary Budget Office shall cause proper books of accounts to be kept of the income and expenditure, assets and liabilities and all other financial transactions of the Parliamentary Budget Office.

(3)

For the purpose of presenting a true and fair view of the financial performance and financial condition of the

Parliamentary Budget Office, the Parliamentary Budget

Office shall prepare its accounts in accordance with the Sri

Lanka Accounting Standards adopted by the Institute of

Chartered Accountants of Sri Lanka under the Sri Lanka

Accounting and Auditing Standards Act, No. 15 of 1995 or any other applicable written law in force.

(4)

The provisions of Article 154 of the Constitution relating to the audit of accounts of public corporations shall apply to the audit of the accounts of the Parliamentary Budget

Office.

Part VIII

General

Read on from Part VIII