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Enhancing Reliability

The function of the Board is to monitor compliance with the Sri Lanka Accounting Standards and the Sri Lanka Auditing Standards in the preparation, presentation and audit of financial statements of specified business enterprises.

Quick Links

  • Sri Lanka Accounting Standards
  • Sri Lanka Auditing Standards
  • Members of the Board
  • 2016 Annual Report
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  • Programs on Enhancing Audit Quality
  • Thematic Inspection Reports 2017

Welcome to SLAASMB

Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) is Sri Lanka's Independent Regulator responsible for monitoring compliance of standards in accounting and auditing in relation to financial statements specified in Act No 15 of 1995.

SLAASMB is a member of the International Forum of Independent Audit Regulators (IFIAR) from 2007.


Specified Business Enterprises
Find the list of companies identified as SBEs in 2015
Find the list of SBE Auditors identified in 2015
Initial Questionnaire for Audit Inspections
Initial Questionnaire for Thematic Audit Inspections

Related Links

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IFIAR
 
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CA
 

Latest Findings

Akbar Brothers (Private) Limited (2015) – Not presenting consolidated financial statements. (Reference SLFRS for SMEs Section 9, paragraph 9.2)
Sierra Construction (Private) Limited (2014) – Not reducing the carrying value of receivables from a related party, to its recoverable value. (Reference LKAS 39 paragraphs 58 and 63)
Central Finance Company PLC (2017) - Not making adequate impairment allowance in relation to loans and receivables (Reference LKAS 39 paragraph 59 and 63).
Direction issued by the Board to re Audit the financial statements of Agalawatte Plantations PLC for the year ended 31 December 2014.
Kalpitiya Beach Resorts PLC (2017)-Not recognising an impairment of the investment in its associate (Reference LKAS 36, Impairment of Assets Paragraph 8)
Development Lotteries Board (2014) – Not recognizing a liability in respect of taxes in default-(Reference Conceptual Framework, LKAS 32 paragraph 11(a) and LKAS 39 paragraph 43)
Adamjee Lukmanjee & Sons (Private) Limited (2015) - Not presenting consolidated financial statements. (Reference SLFRS for SMEs Section 9, paragraph 9.2)

Contact Us

Sri Lanka Accounting and Auditing Standards Monitoring Board
3rd floor Bible House Building,
293 Galle Road, Colombo 3, Sri Lanka
94-1-2301210
94-1-2301211

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