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Minister appoints Dr Swaminathan to IPACSL as Chairperson

Aug 24, 2006 (LBO) – Sri Lanka’s accounting watchdog has formed a committee to of experts to facilitate the flow emerging trends in accounting and auditing standards The panel will assist the Sri Lanka Accounting & Auditing Standards Monitoring Board (SLAASMB) staff to interact with industry experts on technical aspects, the watchdog said in a statement Thursday.

While sharing views on reasons behind accounting and auditing best practices, the panel will also give SLAASMB a feedback from market practitioners regarding its monitoring functions.

The expert panel includes: SLAASMB chief Ajith Ratnayake, Gayani Perera, Anusha Mohotti, Nishan Fernando, Asha Ahamath, P B K Roshan, Kapila Athukorala, Manil Jayesinghe, Shamura Hadgie, Suren Rajakarier.

SLAASMB was formed by the Accounting and Auditing Standards Act of 1995 to monitor compliance with accounting and auditing standards related to business enterprises.

Specified enterprises include listed companies, banks, insurance companies, finance companies, leasing companies and commercial public corporations. Companies exceeding any one of the limits:
¢ turnover of 500 million rupees,
¢ g