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105th Colombo Championships Vibuda Wijebandara will meet Luca Knese in the final of the men’s singles as the duo won their semi-final matches of the 105th Colombo Championships at the Sri Lanka Tennis Association clay courts on Thursday. Wijebandara edged out Thehan Wijemanne 6-3, 7-5 in a hard fought semi-final, while Luca Knese beat Dumidu Dilum 6-1, 6-4 in the other semi-final. The finals will be played on Saturday. In the women’s singles, reigning national champion Anika Seneviratne will meet Savini Jayasuriya in the finals, which will also be played on Saturday. Seneviratne beat Onel...

January 22, 2021 By: Winstanley.R. Bankole. Johnson It is the brouhaha that has followed the recently published Year 2019 Government Audit Report by the Audit Services Sierra (ASSL) that has informed the caption of this piece. In the main I will be using plain and simple English methods of communications for ease of understanding by the wider sector of society who are by now very much confused, to enable them to discern and hopefully decide what to listen to and who to believe. WHAT IS AN AUDIT? An Audit is an examination of various records, financial statements and administrative documents w...

Courts, CAG and the Process of Conducting an Audit When the courts ask the CAG to conduct an audit, and even give the national auditor a deadline, a can of legal worms are opened. The CAG of India is the sole authority to carry out compliance, financial and performance audits. Photo: rupixen.com/Unsplash, (CC BY-SA) Law20/Jan/2021 On December 1, 2020, the Calcutta high court issued an order directing the Comptroller and Auditor General of India to initiate an audit of Cyclone Amphan-related relief distribution. This order by a division bench of Chief Justice Thottahil B. Radhakrishnan and Ju...

Strengthening The Internal Audit Feroz Ahmed Mir, Shafat Yehya Social responsibility has been an accepted convention in India for ages although most often its manifestation was to be found in philanthropy and community welfare initiatives. Nowadays public expenditure has increased and how the money is spent and the quality of services it provides is an important issue to users of public service and simultaneously tax payers including management. The Audit Institutions play an important role in enhancing good governance for public assets, to foster integrity, transparency, accountability with...

ITR Filing Deadline Extended by 10 Days to 10th January from 31st December Moneylife Digital Team  0 The Income Tax (I-T) department on Wednesday extended last date for filing of IT returns by 10 days till 10 January 2021.    In a statement, the I-T department says, "In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19, the government further extends the dates for various compliances."    In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19, the Govt further exte...