ABOUT US
The Audit and management committee meeting in a NISD is a mandatory corporate governance sub committee. Its primary goal is to ensure financial transparency, stringent internal controls and accountability in the use of public resources. It acts as an independent bridge between the Governing council, executive management and auditors.
The audit and management committee meeting is typically a statutory gathering held at least quarterly, it is usually chaired by the Ministry of Finance (Treasury) member in addition to participate members and observers.
OBJECTIVES
- Enhance internal controls
Strengthen internal Audit units and financial management frameworks to maximize operational efficiency. - Ensure compliance
Ensure adherence to government financial regulations (FR), establishment codes and treasury circulars - Risk Management
Identify assess and minimize risks related to wastage, corruption and misuse of state assets. - Public Accountability
Address queries and implement recommendations arising from parliamentary oversight bodies such as COPE (committee on public Enterprises) and COPA (committee on public Accounts)
Key functions and responsibilities
- Reviewing Audit reports
Systematically examines internal audits reports and external auditor management letters instructing management to take immediate corrective actions to avoid repeating mistakes. - Reviewing financial performance
evaluations financial statements, budgets and expenditures to ensure funds are utilized cost effectively and anticipated targets are met. - Compliance monitoring
Monitory statutory compliance, ensuring the organization acts in accordance with its founding act, national procurement guidelines and sate accounting standard. - Assets and resource management
Assesses whether the organization’s human and physical resources are managed efficiently, minimizing waste and over expenses. - Special investigations
Authorizes and monitors special investigations in to instances of suspected fraud, corruption or gross irregularities. - Reporting
Maintains methodical minutes of all proceeding a summary of the committee’s performance and recommendations is regularly submitted to the council members and line ministries for notification.
Committee Members
Chairman
Ms. H.D.N K. Hettiarachchi
Member of the Governing Council of NISD & Director, Department of Public Finance
External members
Mrs. M.T.R. Shamini Attanayake
Member of the Governing Council of NISD
Ms. W.R.P.U. Nuwanthi
Member of the Governing Council of NISD
Ms. D.M.G.P. Malkanthi
Chief Internal Auditor, Ministry of Rural Development, Social Security and Community Empowerment
(Observer)
Ms. Himali Atigala
Superintendent of Audit, National Audit Office
(Observer)
Internal members
Mrs. L.K. Pushpakanthi
Director Administration & Finance, NISD
Mrs. U.D.D.D. Ushetti
Internal Auditor, NISD
Mrs. E.H.L. Madhuwanthi
Accountant , NISD