Members of the Board

Sri Lanka Accounting and Auditing Standards Monitoring Board

(SLAASMB)

Chairman

Nominee of the Governor, Central Bank of Sri Lanka	Ms. K M A N Daulagala

Ex Officio Members

Registrar General of Companies	D.N.R. Siriwardena B.A. (Hons.), Attorney-at-Law, LLB
Commissioner General Department of Inland Revenue	Mr. Nadun Guruge
Director General Securities and Exchange Commission of Sri Lanka

Nominees

The Institute of Chartered Accountants of Sri Lanka (ICASL)

Mr. Manil Jayasinghe

Mr. Jagath Perera

Mr. Sanjaya Bandara

Chartered Institute of Management Accountants of UK (Sri Lanka Division)

Mr. Akila Gunarathna

Bar Association of Sri Lanka

Ceylon Chamber of Commerce

Mr. Pravir Samarasinghe

Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL)

Sri Lanka Banks’ Association

Mr. Ashok Goonesekera

University Grants Commission

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Latest Findings

Direction issued by the Board to re Audit the financial statements of Agalawatte Plantations PLC for the year ended 31 December 2014.

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)

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)

Adamjee Lukmanjee & Sons (Private) Limited (2015) - Not presenting consolidated financial statements. (Reference SLFRS for SMEs Section 9, paragraph 9.2)

Kalpitiya Beach Resorts PLC (2017)-Not recognising an impairment of the investment in its associate (Reference LKAS 36, Impairment of Assets Paragraph 8)

Akbar Brothers (Private) Limited (2015) – Not presenting consolidated financial statements. (Reference SLFRS for SMEs Section 9, paragraph 9.2)

Central Finance Company PLC (2017) - Not making adequate impairment allowance in relation to loans and receivables (Reference LKAS 39 paragraph 59 and 63).

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