Speaker to announce final decision on release of CB forensic audit reports today

Tuesday, 21 January 2020 00:00 - - {{hitsCtrl.values.hits}}

MPs and civil society groups have called for reports to be released
JVP MPs have addressed letter to Speaker requesting that reports be made public
Speaker considering releasing parts of reports

By Chandani Kirinde

Speaker Karu Jayasuriya will announce his decision today on the release of the forensic audit reports prepared as part of the investigation into the Central Bank bond scam, officials sources said.

Speaker Karu Jayasuriya

Both Government and Opposition MPs have urged the Speaker to release the reports even though the Attorney General (AG) had advised against it, saying it could impact pending legal action that has been instituted in connection with the bond scam and several more cases that are to be filed in this connection.

The six JVP MPs in Parliament have addressed a letter to the Speaker requesting him to immediately release the report which were prepared at the cost of Rs. 900 million of taxpayer’s money.

MPs as well as other civil society groups have also requested that the reports be made public.

Daily FT learns the Speaker is considering releasing part of the reports after he held a meeting with the AG to see how the demands of the release of the reports can be done without compromising ongoing legal action.

The forensic audit reports were received by the Parliament in December and were not examined by the Committee on Public Enterprises (COPE) when the House was prorogued.

The Monetary Board of the Central Bank, in consultation with the Auditor General, commissioned the Forensic Audits (FAs) which were carried out entirely by personnel based outside Sri Lanka, of audit firms with a global practice and international experience who were selected by a Cabinet Appointed Consultants Procurement Committee (CACPC) in compliance with applicable Government procurement guidelines. The Auditor General’s representative was an observer on CACPC.

The forensic audits covered the issuance of Treasury bonds during the period from 1 January 2002 to 28 February 2015 by the Public Debt Department, primary and secondary market transactions of the Employees’ Provident Fund (EPF) involving Treasury bonds issued/transacted during the period from 1 January 2002 to 28 February 2015 and transactions of the EPF from 1 January 1998 to 31 December 2017 in listed and unlisted equities.

The audit also covered the issuance of Treasury bonds and remittance of funds received to the General Treasury during the period from 1 February 2015 to 31 March 2016 by the Public Debt Department and the conduct of the supervisory and regulatory role by the superintendent of public debt/director, supervision of non-bank financial institutions pertaining to selected primary dealers from 1 January 2009 to 31 December 2017.