Forensic audits into Treasury bonds cost Rs.275mn: CB

The Central Bank said yesterday five forensic audits, which have already been completed, into Treasury bond issuances, cost approximately Rs.275 million, contrary to certain media reports.

Central Bank said procurement process of the sixth forensic audit is currently underway.

The Monetary Board, in consultation with the Auditor General and the Attorney General, took measures to commission six forensic audits pursuant to the recommendations of the Presidential Commission of Inquiry appointed to investigate and inquire into and report on the issuance of Treasury bonds during the period 01st February 2015 to 31st March 2016, and matters have had come to light over the recent years in audit reports and in findings of internal investigations pursuant to the exercise of certain regulatory and agency functions undertaken by the CBSL.

The procurement of the five forensic audits was carried out by a Cabinet Appointed Consultant Procurement Committee and the contracts were awarded to audit firms with a global practice and international experience in forensic auditing with the approval of the Cabinet of Ministers.

Meanwhile, Speaker Karu Jayasuriya said yesterday he had decided to provide the forensic audits to all Parliament members.

The Speaker said he would recommend it not only to the COPE Committee but also to all Members of Parliament.