Sinhala (Sri Lanka)Tamil (Sri Lanka)

CA Sri Lanka

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Sri Lanka Accounting & Auditing Standards

The Sri Lanka Accounting and Auditing standards Act No. 15 of 1995 has empowered the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) to promulgate and adopt Sri Lanka Accounting Standards and Sri Lanka Auditing Standards in the country. The observances of the said standards are mandatory for Specified Business Enterprises (SBEs) in Sri Lanka. The Act provides the  establishment of  ‘Accounting Standards Committee’ and ‘ Auditing Standards Committee’  for the purpose of  assisting the Council of CA Sri Lanka in the promulgation of these standards.

Sri Lanka has converged with the latest pronouncements issued by the IASB, IAASB and IFAC and CA Sri Lanka is indeed proud to be the pioneer in introducing good financial reporting practices in Sri Lanka