Diagnostic Study of Accounting and Auditing Practices in Sri Lanka ; Diagnostic Study of Accounting and Auditing Practices

Although Sri Lanka had reasonable financial management arrangements before the finance company crisis, as a consequence of the subsequent corrective improvements, these arrangements now compare very well with those of other countries, at least for the private sector. In contrast, public corporation financial governance practices are poor, as are other public sector accounting arrangements. In the case of public corporations, the study makes several recommendations to strengthen governance.