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srilawsby aturio
As enacted
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12. Audit and accounts of the Corporation

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 income and expenditure, assets and liabilities and all other transactions of the Corporation.

(2)

The financial year of the Corporation shall be the calendar year.

(3)

The accounts of the Corporation shall be examined and audited at least once in every year by a qualified auditor or auditors appointed by the Council.

(4)

In this section “qualified auditor” means—

(a)

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

(b)

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.

Read on from s 13