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8. Accounts and Auditing

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 Corporation shall be the calendar year.

(2)

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

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The World Fellowship of Buddhists Sri Lanka

(3)

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

Committee.

(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, who 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, who possesses a certificate to practice as an Accountant, issued by the Council of such Institute.