header logo
Asia asset finance
Latest
Discussions held on establishing ‘Rebuilding Sri Lanka’ as a statutory fund
1h ago
Discussions held on establishing ‘Rebuilding Sri Lanka’ as a statutory fund

Officials led by Auditor General Samudika Jayaratne have briefed the Committee on Public Finance (COPF) on the progress of the National Audit Office’s Annual Programme for 2026.

 

The auditing of ‘Samurdhi Banks’ was also discussed during the meeting, and officials informed the Committee that the audits for 2023 and 2024 must be completed in order to conduct the audit for 2025, the statement said. 

 

They noted that the procurement process required to outsource these audits to external parties has not yet been finalized.

 

While initial estimates indicated that approximately 300 officers would be required to carry out the audits, the Auditor General stated that the recruitment of 200 officers over a period of one and a half years would be sufficient, it said.

 

Officials further highlighted the absence of a dedicated audit framework for Samurdhi Banks. In response, the Committee Chair recommended that a comprehensive study be conducted and that a proposed audit framework for Samurdhi Banks and affiliated societies be submitted to the Committee for consideration.

 

According to the statement the Committee also reviewed matters relating to cyber security. Officials from the National Audit Office stated that the department currently lacks in-house information technology specialists to support audit activities. As a result, system audits are carried out by external auditors.

 

In addition, the Committee discussed the account maintained for the ‘Rebuilding Sri Lanka’ programme. Officials from the National Audit Office informed members that no statutory fund currently exists under the name “Rebuilding Sri Lanka” and the programme operates through an account maintained under the Deputy Secretary to the Treasury. Officials further confirmed that no payments have been made through this account to date, the statement added.

MostRead
Mobitel 5g
VideoStories
Sri Lanka's dengue cases cross 35,000 with 19 deaths reported so far this year

Sri Lanka's dengue cases cross 35,000 with 19 deaths reported so far this year

Sri Lanka marks World Environment Day 2026 under Presidential patronage

Sri Lanka marks World Environment Day 2026 under Presidential patronage

Govt is misusing PTA in an unprecedented manner, Dilith Jayaweera says

Govt is misusing PTA in an unprecedented manner, Dilith Jayaweera says

MP Upali Pannilage claims Anguruwatota elders’ home was not registered with any relevant authority

MP Upali Pannilage claims Anguruwatota elders’ home was not registered with any relevant authority

Private bus operators demand 5% fare revision following the fuel price hike

Private bus operators demand 5% fare revision following the fuel price hike

MP Ravi Karunanayake submits motion seeking parliamentary committee to probe CBSL independence

MP Ravi Karunanayake submits motion seeking parliamentary committee to probe CBSL independence

Sri Lanka likely to face drought in July-August as El Nino threat grows - Met Dept.

Sri Lanka likely to face drought in July-August as El Nino threat grows - Met Dept.

Funds collected under ‘Rebuilding Sri Lanka’ initiative remain unused in Treasury DST account?

Funds collected under ‘Rebuilding Sri Lanka’ initiative remain unused in Treasury DST account?

Fuel import costs hit USD 522 million in May,highest monthly foreign reserve outflow

Fuel import costs hit USD 522 million in May,highest monthly foreign reserve outflow

Cabinet approves allocation of over Rs. 500 million  for key development projects in 23 cities

Cabinet approves allocation of over Rs. 500 million for key development projects in 23 cities

“Govt. will fulfill public aspirations”  Past welfare programs fostered political dependency: PM

“Govt. will fulfill public aspirations” Past welfare programs fostered political dependency: PM

"CPC incurring massive losses on fuel sales" Cabinet Spokesman says fuel price revisions inevitable

"CPC incurring massive losses on fuel sales" Cabinet Spokesman says fuel price revisions inevitable

“Preserving the Himalayas, a global responsibility”  Nepal Embassy celebrates Int'l Sagarmatha Day

“Preserving the Himalayas, a global responsibility” Nepal Embassy celebrates Int'l Sagarmatha Day

“Sri Lanka is facing a massive economic crisis” Sajith urges govt. to act decisively (English)

“Sri Lanka is facing a massive economic crisis” Sajith urges govt. to act decisively (English)

"Fuel price hike relatively minor" Consumption must be reduced to prevent further hikes – Minister

"Fuel price hike relatively minor" Consumption must be reduced to prevent further hikes – Minister

Lassana Flora