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Audit Faculty

The Audit Faculty conducts seminars and workshops for Sri Lanka Auditing Standards and related pronouncements in order to keep the practitioners up to date on changes.

The Audit Faculty is a forum established to serve the requirements of the auditing sector and promote best practices in the profession. The faculty was established with the following objectives.

  1. To provide a focus for member's interests in auditing and in doing so promote best practice.
  2. To create and maintain a technical centre for auditing and to further the study of all forms of auditing.
  3. To provide and facilitate the education and training of members through technical releases, publications, conferences, courses and all other means, so as to enhance the quality of auditing.
  4. To make representations on auditing matters through the Council to the Government and to other bodies and authorities, as appropriate, and to develop contacts with related bodies.
  5. To develop material as deemed necessary to assist members to carry out the practice of auditing.
  6. To do all such things that are necessary to advance the achievement of these objectives.

Recently, the Audit Faculty organized a seminar series on Sri Lanka Auditing Standards and Sri Lanka Standard on Quality Control, which was held in September and October 2011.

Audit Faculty organized a workshop on "Emerging Issues for Finance Companies" in May 2013, for finance professionals, auditors and internal auditors to enhance their knowledge on business risks, accounting and audit of Finance and Leasing companies.

Key Products and services offered by the Finance /Leasing companies and related risks

Regulatory aspects of Finance and Leasing Companies

Critical Issues for Auditors of Finance Companies

Implication of IFRS Implementation for Finance & Leasing Companies