Global in­de­pen­dent au­dit reg­u­la­tors to meet in Colombo

Daily Mirror (Sri Lanka) - - NEWS -

In­de­pen­dent au­dit reg­u­la­tors from around the world will gather to share their ex­per­tise dur­ing the 12th an­nual in­spec­tion work­shop of the In­ter­na­tional Fo­rum of In­de­pen­dent Au­dit Reg­u­la­tors (IFIAR) in Colombo.

The Sri Lanka Ac­count­ing and Au­dit­ing Stan­dards Mon­i­tor­ing Board (SLAASMB) is host­ing the three-day fo­rum which will be held at the Cin­na­mon Lake­side Ho­tel from Fe­bru­ary 20th, with the par­tic­i­pa­tion of over 110 pro­fes­sion­als rep­re­sent­ing au­dit reg­u­la­tors from 40 coun­tries in­clud­ing, USA, UK, Canada, France, Ger­many, Switzer­land, Ja­pan and Sin­ga­pore. The event will be in­au­gu­rated at a cer­e­mony on Fe­bru­ary 19th and will be at­tended by a host of ex­perts in the field.

IFIAR was es­tab­lished by in­de­pen­dent au­dit reg­u­la­tors from around the world in 2007. IFIAR’S over­all ob­jec­tives are to share knowl­edge of the au­dit mar­ket en­vi­ron­ment and prac­ti­cal ex­pe­ri­ence of in­de­pen­dent au­dit reg­u­la­tory ac­tiv­i­ties, to pro­mote col­lab­o­ra­tion in reg­u­la­tory ac­tiv­i­ties, and to pro­vide a plat­form for di­a­logue with other in­ter­na­tional or­gan­i­sa­tions which have in­ter­ests in en­hanc­ing au­dit qual­ity.

SLAASMB, Sri Lanka’s In­de­pen­dent Au­dit Reg­u­la­tor was es­tab­lished un­der the Sri Lanka Ac­count­ing and Au­dit­ing Stan­dards Act No.15 of 1995. The core func­tions of SLAASMB are to mon­i­tor com­pli­ance with Sri Lanka Ac­count­ing Stan­dards in re­la­tion to the an­nual au­dited fi­nan­cial state­ments of Spec­i­fied Busi­ness En­ter­prises (SBES) and to mon­i­tor com­pli­ance with Sri Lanka Au­dit­ing Stan­dards when con­duct­ing au­dits of these fi­nan­cial state­ments by au­di­tors of such SBES.

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