Forensic audit on Sri Lanka bond sales since 2008 recommended

ECONOMYNEXT – Sri Lanka’s President Maithripala Sirisena said a Presidential Commission which probed Sri Lanka’s biggest securities scam has recommended a forensic audit of bond sales since 2008.

Irregularities revealed by the commission of inquiry which probed rigged bond auctions in 2015 indicated similar scams had occurred previously, Sirisens said,, making a special statement to media on the Presidential Bond Commission report.

“The Commission is of the opinion that similar incidents as revealed in the Commission Report had happened even in 2008,” Sirisena said.

“The Commission recommends that the Central Bank of Sri Lanka should first conduct a forensic audit with regard to the alleged fraud and corrupt practices from 2008 onwards, and based on such findings, legal actions should be taken.”

As the Commission did not have the mandate to inquire into Treasury bond issues from 2008 to 2015, the Commission had not done so, Sirisena said.

“However, Commission recommends that there should be an investigation into that period too.”
(COLOMBO, January 03, 2018)

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