Guideline for Working From Home in Sri Lanka
In response to the uncertainties presented by Covid-19, many companies and institutes have asked their employees to work remotely. While it is often preferable to develop specific remote-work policies and training in advance, this degree of planning may not be possible in times of crisis or other rapidly changing circumstances. Fortunately, even when managers are […]
Business Valuations for Small Companies in Sri Lanka
Business Valuations for Small Companies in Sri Lanka The concept of valuing business has existed for more centuries. But most small businessman does not understand the concept of business valuation. There is common understanding among the small businessman in Sri Lanka that you only need to value business if you’re going to sell it. In […]
Importance of Data Analytics in Audit and Assurance
Importance of Data Analytics in Audit and Assurance As auditors in Sri Lanka we, increasingly need to know more about their clients’ businesses to provide effective services. Data analysis plays an important role within the audit profession in Sri Lanka. Up until now data analytics in external audits and internal audits have only been limited […]
Relevance of Fraud Triangle in SriLanka
Frauds have become a part of everyday life in Sri Lanka. As an Audit Firm in Sri Lanka, we believe that it is our duty help fellow businessman. In the below article, I’m evaluating applicability of fraud triangle theory in Sri Lanka. In 1973, Donald Cressey published the results of his research on embezzlement in Other […]
Tax Calendar in Sri lanka 2021
“Paying taxes on time in Sri Lanka is important to avoid unnecessary penalties and hassles. It is important that you be mindful of the tax due dates in Sri Lanka. It is recommended that you prepare a tax plan adhering to the tax calendar 2021 in Sri Lanka. There are distinctive tax payment dates introduced […]
Advantages and Disadvantage of Internal Audits in the Sri Lankan context
Advantage of internal audits in Sri Lankan context; Strong internal control systems – To put simply Internal control is what we do to see that the things we want to happen will happen and the things we don’t want to happen won’t happen. Internal controls include actions, systems, and processes. It is the duty of […]