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The Accounting in Sri Lanka is regulated under the several legal regulations. There are several professional accountancy body in the country. The Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) is the audit oversight entity, while the Auditor General of Sri Lanka has audit oversight over government all entities. [1]
The concept of registration of persons and issuing identity cards was the subject of an agreement made between India and Sri Lanka in 1954, The draft bill submitted to the Sri Lankan parliament in 1962 was passed as the Act of Registration of Persons No. 32 of 1968. With the aim of activating the provisions of this Act, the Department of ...
The Institute was established by Act of Parliament, No. 23 of 1959 as the sole organisation in Sri Lanka with the right to awarding the Chartered Accountant designation. The Institute is responsible for setting Accounting and Auditing Standards in Sri Lanka, and is considered the National Body of Accountants' in the country. [citation needed]
SSL (Secure Sockets Layer) is an industry standard for encrypting private data sent over the Internet. It helps protect your account from hackers and insures the security of private data sent over the Internet, like credit cards and passwords.
The institute was initially established as "Society of Certified Management Accountants of Sri Lanka", on 3 June 2000 in Colombo Sri Lanka with the help technical assistance and the guidelines of Certified of Management Accountants of Canada (CMA Canada), now CPA Canada and the Institute of Management Accountants (IMA) of USA and International Federation of Accountants (IFAC) which is the ...
It aligns Sri Lanka's data protection regime with international standards, potentially facilitating cross-border data flows and digital trade. The Act is expected to enhance trust in digital transactions and services while promoting responsible data handling practices across public and private sectors.
Sri Lankan nationality law details the conditions in which a person is a national of Sri Lanka. The primary law governing nationality regulations is the Ceylon Citizenship Act, which came into force on 15 November 1948. Any person born in Sri Lanka to a Sri Lankan parent is automatically a citizen by descent.
The institution later functioned under the new act of the Sri Lanka Standards Institution Act No. 6 of 1984 replacing the previous outdated act. [2] The organisation works as a regulatory institution and it is a kind of state corporation on behalf of the government mainly to protect consumers from the unethical business trade malpractices.
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