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Auditing

At Leads Business Management (LBM), our Auditing services build trust and ensure compliance for your business in Sri Lanka. We provide thorough, independent reviews aligned with Sri Lankan standards (SLAS/IFRS) and regulations. Our audits enhance credibility with banks, investors, and regulators, identify risks, and improve your operations. Let our qualified auditors provide the assurance you need to operate confidently in Sri Lanka.

  • Statutory Audits
  • Internal and External Audits
  • Tax Audits and Compliance Reviews
  • Corporate Governance and Compliance Audits
  • Due Diligence

  • Statutory Audits

    Our Statutory Audit service ensures your business meets Sri Lanka’s legal requirements under the Companies Act. We provide an independent opinion on your financial statements, boosting stakeholder confidence and keeping you compliant.

    How We Help You

    We perform your Statutory Audit by meticulously examining your financial records against Sri Lanka Accounting Standards (SLAS) and IFRS, assessing internal controls, verifying assets and liabilities, and issuing an independent auditor’s report. You get official validation of your financial health, meeting legal obligations in Sri Lanka.

    Who Needs This Service

    • Private Limited Companies in Sri Lanka required by the Companies Act.
    • Businesses needing audited financial statements for banks, investors, or lenders.
    • Organizations seeking to enhance financial transparency and credibility.
    • Companies aiming for strong corporate governance practices.

    Benefits of Using This Service

    • You meet mandatory legal requirements under Sri Lanka’s Companies Act.
    • You increase trust with banks, investors, and other stakeholders.
    • You gain assurance about the accuracy of your financial statements.
    • You identify potential weaknesses in financial reporting processes.

  • INTERNAL AND EXTERNAL AUDITS

    Our Internal and External Audit services provide valuable insights and independent assurance for your Sri Lankan business. Internal audits help improve your operations, risk management, and controls, while external audits offer stakeholders confidence in your financial reporting.

    How We Help You

    We conduct Internal Audits by evaluating your internal controls, processes, and risk management frameworks, identifying inefficiencies or compliance gaps, and providing recommendations for improvement tailored to your Sri Lankan operations. We perform External Audits (non-statutory) by independently examining your financial information to provide assurance to specific stakeholders (like parent companies or partners) about its reliability and fairness. You get actionable insights to strengthen your business from within (Internal) and credible verification for outside parties (External).

    Who Needs This Service

    • Businesses wanting to improve internal controls and operational efficiency (Internal Audit).
    • Companies seeking independent verification of financial information for partners, HQs, or specific agreements (External Audit).
    • Organizations aiming to proactively manage business and financial risks in Sri Lanka.
    • Growing SMEs looking to implement stronger governance structures.

    Benefits of Using This Service

    • You identify and mitigate operational and financial risks effectively (Internal).
    • You improve the efficiency and effectiveness of your internal processes (Internal).
    • You provide trusted financial information to specific stakeholders (External).
    • You strengthen overall corporate governance and management oversight.

  • TAX AUDITS AND COMPLIANCE REVIEWS

    Our Tax Audit and Compliance Review service helps your business stay prepared and compliant with Sri Lanka’s Inland Revenue Department (IRD) regulations. We review your tax filings and records to identify potential issues, minimize risks, and ensure accuracy before the IRD does.

    How We Help You

    We review your tax compliance by examining your filed returns (Income Tax, VAT, PAYE, etc.), supporting documents, and accounting records against IRD rules, identifying potential discrepancies or areas of non-compliance, and advising on corrective actions. You get confidence in your tax positions and reduced risk of penalties during actual IRD audits in Sri Lanka.

    Who Needs This Service

    • Businesses wanting to proactively verify their tax compliance in Sri Lanka.
    • Companies preparing for or currently undergoing an IRD audit.
    • Organizations seeking assurance that their tax calculations and filings are accurate.
    • Businesses with complex transactions that carry higher tax risk.

    Benefits of Using This Service

    • You minimize the risk of penalties and interest from IRD assessments.
    • You identify and correct potential tax issues before they become major problems.
    • You gain confidence in the accuracy of your tax filings in Sri Lanka.
    • You are better prepared if selected for an official IRD audit.

  • CORPORATE GOVERNANCE AND COMPLIANCE AUDITS

    Our Corporate Governance and Compliance Audit service assesses how well your business adheres to governance best practices, internal policies, and relevant Sri Lankan laws beyond just finance. We help strengthen accountability and ensure you meet all operational standards.

    How We Help You

    We audit your governance and compliance by reviewing board structures, internal policies, ethical guidelines, regulatory adherence (e.g., labour laws, environmental rules where applicable), and decision-making processes, identifying gaps, and recommending improvements. You get assurance that your business operates responsibly and meets expected standards in Sri Lanka.

    Who Needs This Service

    • Companies looking to strengthen board effectiveness and oversight.
    • Organizations needing to demonstrate strong corporate governance to stakeholders.
    • Businesses aiming to ensure compliance with non-financial regulations in Sri Lanka.
    • Companies seeking to embed ethical practices throughout their operations.

    Benefits of Using This Service

    • You enhance stakeholder confidence through demonstrated good governance.
    • You ensure adherence to crucial non-financial regulations and policies.
    • You identify and mitigate governance-related risks.
    • You foster a stronger ethical and compliant company culture.

  • DUE DILIGENCE

    Our Due Diligence service provides critical investigation and analysis before you make major business decisions like investments, acquisitions, or partnerships in Sri Lanka. We assess the financial health, risks, and compliance of target entities, giving you the insights needed to proceed wisely.

    How We Help You

    We perform Due Diligence by thoroughly examining the target company’s financial statements, tax records, compliance history, assets, liabilities, and operational data, identifying potential risks, hidden liabilities, or overvaluations, and providing a detailed report of our findings relevant to the Sri Lankan context. You get a clear, unbiased picture to make informed investment or partnership decisions.

    Who Needs This Service

    • Investors considering acquiring or investing in a Sri Lankan business.
    • Companies planning mergers or acquisitions (M&A).
    • Businesses entering significant partnerships or joint ventures.
    • Lenders evaluating the financial stability of potential borrowers in Sri Lanka.

    Benefits of Using This Service

    • You make informed investment/acquisition decisions based on verified information.
    • You identify potential risks and liabilities before committing capital.
    • You gain a clearer understanding of the target entity’s true financial health.
    • You strengthen your negotiating position in deals within Sri Lanka.