Forensic Audit on controversial Bond issue to be completed before year end

The Forensic audit on the controversial bond scam, based on the recommendations of the Presidential Commission of Inquiry, will be completed before the end of 2019, Central Bank Governor Dr. Indrajith Kumaraswamy said today (Dec 02)

The  CB Governor speaking at the first media briefing for the year said that while the audits were a complex process there had been no delays.

"The forensic auditing has not been delayed. This is a very complex process. A person can go to the court if something is wrong. If so, the process will have to be restarted.This report came in December 2017. However, by January 2018, we took action to inquire into the forensic auditing," he said.

Further adding  "we had to see the recommendations of the Commission report. What was required of us.We needed  to create the environment for this. The advice and assistance of the Attorney General had to be obtained. We have taken such measures. However at the same time we needed to get support from specialists in charge of this type of specialised auditing and internationally accepted standards have to be maintained.  All this must be done carefully. It cannot be done in a hurry. "

"The cabinet appointed an Advisory and Procurement Committee. If there is any error, the whole process must begin again. Three specialists from the Treasury have joined us. They are experts on the procurement process. We are getting their support."

"The report of the Presidential Commission of Inquiry has identified the measures that should be taken regarding the bond issue. This should be done by maintaining international standards, and those who are experienced in working with these standards and this has been mentioned in the report. Six different teams will undertake parts of the forensic audit and each team will be led by a foreign expert,"  Mr Kumaraswamy said.