Bond scam forensic audit : International audit firms to be hired

COLOMBO (News 1st) - With a backdrop where four years have passed without any proper action since the largest financial fraud in Sri Lankan history the Central Bank states that foreign auditors will be engaged in the forensic audit. The Central Bank added that the decisions of the Cabinet Tender Committee appointed in this regard is at its final phase. Several reputed international audit firms have shown interest in conducting the forensic audit into the bond scam and selection of a substantive audit firm is at its final phase. The reports note that international auditors will be appointed to carry out six audits of the Central Bank Bond Scam. The Presidential Commission looking into the Central Bank Treasury Bond scam recommended a forensic audit into all transactions carried out by Perpetual Treasuries Limited. This has led to the current state affairs where it is now necessary to consult an international audit firm. Four years have passed since the biggest financial fraud in Sri Lanka yet the perpetrators are still at large.