Sri Lanka Consolidated Acts

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Sri Lanka Accounting and Auditing Standards Act (No. 15 of 1995)


           Long Title

   1.	   Short title  
   2.	   Adoption of Sri Lanka Accounting Standards,  
   3.	   Adoption of Sri Lanka Auditing Standards  
   4.	   Power to vary and amend standards  
   5.	   Application of Standards  
   6.	   Duly to comply with Standards Adopted  
   7.	   Auditing of accounts of specified business enterprises to be done by qualified Auditors  
   8.	   Accounting Standards Committee  
   9.	   Auditing of Standards Committee  
   10.	   period of service, resignation &c. of  
   11.	   Establishment of Accounting and Auditing Standards Monitoring Board  
   12.	   Constitution of the Board  
   13.	   Term of office of appointed members  
   14.	   Removal of appointed members  
   15.	   Registration of appointed members  
   16.	   Eligibility for reappointment  
   17.	   Filling of vacancies  
   18.	   Meetings of the Board  
   19.	   Remuneration of members  
   20.	   Chairman of the Board  
   21.	   Seal of the Board  
   22.	   Staff of the Board  
   23.	   Function of the Board  
   24.	   Powers of the Board  
   25.	   Copy of annual accounts furnished to the Board  
   26.	   Board of carry out Investigation  
   27.	   Offences  
   28.	   Compounding of offences  
   29.	   Board to inform professional institute of any violation  
   30.	   Board to inform regulatory authority and Inland Revenue Department  
   31.	   Accounting and Auditing Standards cess  
   32.	   Fund of the board  
   33.	   Financial year and audit of accounts  
   34.	   Annual Report  
   35.	   Protection for action taken under this Act or an the direction of the Board  
   36.	   Members, officers and servants of the Board deemed to be public servants  
   37.	   Board to be a scheduled institution  
   38.	   Regulations  
   39.	   Sinhala text to prevail in case of inconsistency  
   40.	   Interpretations  

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