Highlights of the Bill

The Auditor General will be the principal custodian of the Supreme Audit Institution of Sri Lanka and shall be responsible for the implementation of the provisions of this Act. The Auditor General will assist all Committees of Parliament, particularly the PAC and COPE to carry out their functions more efficiently and effectively. The Auditor General and those authorised by him in carrying out an audit, can examine the systems, procedures, books, records, vouchers and other documents of the audited entity to have been properly and adequately designed for purposes of financial control and presentation of information, to enable a continuous evaluation of the activities and have been effectively used in the operation process. The Auditor General or any per- son authorised by him shall have the power to access or call for any written or electronic records or other information which is related to the activities of an audited entity, and to call any person to obtain written or oral statements and require the production of any document, from any person, who may be either in service or otherwise. Examine and make copies of or take extracts from any written or electronic records or other information and search for information or material, whether or not in the custody of the audited entity Examine and audit any account or transaction or activity of a finance business, of any person or of any other person who is known to such person, where the Auditor General has reason to believe that money belonging to an audited entity has been fraudulently, irregularly or wrongfully paid into such person's account or into any other person's account who is known to such person. The Auditor General shall impose a surcharge on the value of the deficiency or loss in every transaction of an audited entity, where the Auditor General has reasonable grounds to believe that such transaction has been made contrary to any written law, and has caused any deficiency or loss due to fraud, negligence or corruption of those involved in that transaction. An Audit Service Commission, a National Audit Office and Sri Lanka National Audit Service will be established by the new Act, following which the Auditor Generals Dept will cease to function. Its staff, assets and liabilities will be absorbed into the new service.