Book Keeping

Independent reviews of public sector accounts will take off in July, in line with ongoing reforms to revamp the public sector to be accountable and transparent.
ldblquote Currently public enterprises are reviewed by the Public Enterprises Committee that has no secretarial expertise and no time to review about 225 public enterprises
dblquote , says V. Kanagasabapathy, Director General of Public Enterprises at the Treasury.rn

rnAt the moment a cabinet sub-committee headed by Minister Karu Jayasuriya is responsible for reviewing performance immediately before accounts reach parliament.rn

rnBut National Review Committees that will independently review performance on the basis of the annual reports and accounts, is being rolled out, Kanagasabapathy explained.rn

rnldblquote We hope to commence these reviews by next month, from 2002 accounts onwards and these accounts will be reviewed by these committees, he adds.rn

rnUnder the new regulations, within two months after the close of the financial year,