Accounting In Sri Lanka

	Accounting In Sri Lanka The Accounting in Sri Lanka is regulated under the several legal regulations. There are several professional accountancy body in the country. The Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) is the audit oversight entity, while the Auditor General of Sri Lanka has audit oversight over government all entities. Recognised bodies for restricted work Audit of limited companies It is illegal for any individual or firm that is not a Registered Auditor to perform an audit of a Sri Lankan limited company. To become a Registered Auditor, an accountant must hold a practising certificate from a recognised body, demonstrate the necessary professional ability in that area, and submit to regular inspection. The Institute of Chartered Accountants of Sri Lanka The Institute of Chartered Accountants of Sri Lanka (''CA Sri Lanka'') is a professional accountancy body in Sri Lanka. The Institute was established by Act of Parliament, No. 23 of 1959 as the sole organisation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Professional Accountancy Body A professional accounting body is an organization or association of accountants in a particular jurisdiction. Usually a person needs to be a member of such professional body to hold out to the public of the jurisdiction as an accountant. The designations for qualified accountants vary from jurisdiction to jurisdiction, such as Cost and Management Accountant (CMA), Chartered Accountant (CA/ACA), Chartered Certified Accountant (CCA), Chartered Professional Accountant (CPA), Certified Public Accountant (CPA), Certified Practising Accountant (CPA), Chartered Management Accountant (ACMA), Certified Management Accountant (CMA), or Chartered Public Finance Accountant (CPFA). Some countries have a single professional accounting body (e.g. Brazil) while others have several. If there is more than one body, such bodies may or may not compete with each other; in some countries, professional accounting bodies are divided according to their field of activity. For example, India has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Auditor General Of Sri Lanka The Auditor General of Sri Lanka ( Sinhala: ශ්‍රී ලංකා විගණකාධිපති ''Śrī Laṃkā viganakādhipathi''; Tamil: இலங்கை கணக்காய்வாளர் தலைமை) is appointed by the President to aid accountability by conducting independent audits of government operations. These audits provide members of Parliament with objective information to help them examine the government's activities and hold it to account. According to the constitution, the Auditor General is empowered to audit the accounts of all departments of Government, the Offices of the Cabinet of Ministers, the Judicial Service Commission, the Public Service Commission, the Parliamentary Commissioner for Administration, the Secretary-General of Parliament and the Commissioner of Elections, local authorities, public corporations and business or other undertakings vested in the Government under any written law. The Auditor General of Sri Lanka is the hea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Institute Of Chartered Accountants Of Sri Lanka The Institute of Chartered Accountants of Sri Lanka (''CA Sri Lanka'') is a professional accountancy body in Sri Lanka. The Institute was established by Act of Parliament, No. 23 of 1959 as the sole organisation in Sri Lanka with the right to awarding the Chartered Accountant designation. The Institute is responsible for setting Accounting and Auditing Standards in Sri Lanka, and is considered the ''National Body of Accountants' in the country. Membership In Sri Lanka, only members of CA Sri Lanka can practice as "Chartered Accountant". There are two grades of members; * Associate (ACA) * Fellow (FCA) Associate membership is gained after completing three levels of examinations and serving as a clerk serving under articles with a member of the Institute in practice or with a member of the Institute who is a salaried employee in the service of a firm of accountants for a minimum three-year practical training period. They are known as articled clerks during this period. Fellowsh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Accounting In Sri Lanka The Accounting in Sri Lanka is regulated under the several legal regulations. There are several professional accountancy body in the country. The Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) is the audit oversight entity, while the Auditor General of Sri Lanka has audit oversight over government all entities. Recognised bodies for restricted work Audit of limited companies It is illegal for any individual or firm that is not a Registered Auditor to perform an audit of a Sri Lankan limited company. To become a Registered Auditor, an accountant must hold a practising certificate from a recognised body, demonstrate the necessary professional ability in that area, and submit to regular inspection. The Institute of Chartered Accountants of Sri Lanka The Institute of Chartered Accountants of Sri Lanka (''CA Sri Lanka'') is a professional accountancy body in Sri Lanka. The Institute was established by Act of Parliament, No. 23 of 1959 as the sole organisation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]