What are the qualifications to register as a auditor in sri lanka?

Answer 1

Qualifications of auditors.

(1) A person shall not be appointed or act as auditor of a company, unless that person-

(a) is a member of the Institute of Chartered Accountants of Srilanka or

(b) is a registered auditor.

(2) Notwithstanding the provisions of subsection (1), a person shall not be appointed or act as auditor of a company other than a private company or a company limited by guarantee, unless that person is a member of the Institute of Chartered Accountants of Sri Lanka.

(3) None of the following persons may be appointed or act as an auditor of a company :-

(a) a director or employee of the company;

(b) a person who is a partner or in the employment of a director or employee of the company;

(c) a liquidator or an administrator or a person who is a receiver in respect of the property of the company ;

(d) a body corporate ;

(e) a person who, by virtue of paragraph (a), (b) or (c), may not be appointed or act as auditor of a related company.

(4) A person who holds any office referred to in paragraph (a), (b) or (c) of subsection (3), may not be appointed or act as an auditor of a company for a period of two years after such person has ceased to hold that office.

(5) Regulations may be made providing for -

(a) the qualifications necessary to become a registered auditor;

(b) the procedure for the registration of auditors;

(c) the fees payable for such registration