Skip to content

14. Audits of accounts

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

(1)

The Executive Committee shall cause proper books of accounts to be kept of the income and expenditure, assets and liabilities and all other transactions of the

Corporation.

(2)

The accounts of the Corporation shall be examined and audited at least once in every year by one or more qualified autitor or auditors.

(3)

For the purposes of 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

Society of Structural Engineers of Sri Lanka

(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.