Forensic Audit reports found to be incomplete

Governor of the Central Bank of Sri Lanka (CBSL) Professor W.D LakshmanThe five Forensic Audit reports on the Central Bank treasury bond scam, tabled in Parliament this week, have been found to be incomplete.

Governor of the Central Bank of Sri Lanka (CBSL) Professor W.D Lakshman was informed by the Secretary-General of Parliament Dhammika Dassanayake that the reports did not contain the relevant annexes and exhibits.

The reports were tabled in Parliament this week despite the Attorney General issuing instructions not to do so as it may hamper ongoing investigations.

Speaker Karu Jayasuriya has directed the Secretary-General of Parliament to take necessary action to make available the complete reports to Parliament at the earliest.

The Monetary Board, in consultation with the Auditor General and the Attorney General, took measures to commission six forensic audits pursuant to the recommendations of the Presidential Commission of Inquiry appointed to investigate and inquire into and report on the issuance of Treasury bonds during the period 01st February 2015 to 31st March 2016 and matters that had come to light over the recent years in audit reports and in findings of internal investigations pursuant to the exercise of certain regulatory and agency functions undertaken by the CBSL.

The procurement of the five forensic audits were carried out by a Cabinet Appointed Consultant Procurement Committee and the contracts were awarded to audit firms with a global practice and international experience in forensic auditing with the approval of the Cabinet of Ministers.

Out of the six forensic audits initiated, five forensic audits have been completed so far at a cost of Rs 275 million (approximately), CBSL. said.

The procurement process of the sixth forensic audit is currently underway.

1 COMMENT

  1. No one is querying about the total debt and supplementary causes.

     This is a proof for Sri Lanka outstanding debt of approximately 10.3 trillion rupees.

    The central bank’s latest records show Sri Lanka’s total outstanding debt was 10.3 trillion rupees as of the end of September last year.
    10 trillion rupees loans taken by the previous government from abroad, only about 2 to 3 trillion rupees could be accounted for in the assets and huge sum of money could not be accounted for in the documents in the finance ministry,” his office said in a statement.
    Find the balance??
    https://www.reuters.com/article/sri-lanka-debt/sri-lankan-leader-says-58-billion-foreign-debt-under-previous-govt-unaccounted-for-idINKBN1FF27G

    Other nearly Major Causes are:
     Failures in contract administration cost billions to the country
    http://www.ft.lk/columns/Failures-in-contract-administration-cost-billions-to-the-country/4-646826
    All Government Major Projects completed from the year 2000 to date, to be scrutinized and Final Account to be determined and settlement of repayment to be strictly monitored, to ascertain whether, they are properly completed and tracked.
    All the Government Major Projects to be awarded, to be scrutinized, whether the awards are properly adhered in accordance with the competitive Tendering Process as indicated in Ministry of Finance, Procurement routes.
     Scientific Cabinet: the rhetoric, reality and way forward
    http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=212583
     National industries and poor administration like sugar manufacturing, Tire, textile, cement etc., were destroyed from the year 1990 and lost employment opportunities to our generations. Need to reinstate these industries in the future.

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