In a bid to curb corruption and financial malpractices, the Education Ministry has decided to make it compulsory for school authorities to maintain accounts of their school development societies according to the accounting standards and concepts stipulated by the Sri Lanka Chartered Institute from January next year, Minister Bandula Gunawardane said today.
The Education Minister told the Daily Mirror that he instructed the National Institute of Education to work out instructions in consultation with the
Sri Lanka Chartered Institute and Associated of Accounting Technicians (AAT) to issue the circular in this regard.
The Minister said all 340 national schools and 1000 secondary schools to be upgraded are required under the initial phase to keep accounts in conformity with modern standards and concepts.
“Currently, there is no such legal requirement to maintain annual accounting reports and balance sheets to be submitted for auditing if necessary. Later, it will be made compulsory for all the schools. In their reports, they are required to depict their assets and liabilities properly. This will compel school principals to issue receipts when accepting donations from anyone. This will be a step for the elimination of corruption and malpractices,” he said.
He said that recently, there was a competition to select the school which submitted the best accounting report.
Only over 100 schools submitted their accounting reports. The event was organised by the AAT.
Pushpadana Balika Vidyalaya in Kandy has submitted the best report, he said. (Kelum Bandara)
Comments - 9
Yahiya-Doha Monday, 14 November 2011 12:27 PM
good start.Computerize the entire department.Limit to 30 children to class.
Kumudu Sunday, 13 November 2011 09:20 PM
What is transparency? Only schools have to maintain proper accounts.
Coolman Monday, 14 November 2011 01:32 AM
Look who's talking.
krishna Monday, 14 November 2011 03:13 PM
First step to abolish free education.
izmie Monday, 14 November 2011 03:22 AM
Many proposals since becoming, nothing implemented.
Gajaba Monday, 14 November 2011 03:32 AM
This is great move. At the moment it has become a big business for school principles which also makes it harder for a poor to attend to a good school.
Roshan Monday, 14 November 2011 03:49 AM
How about bringing some laws to monitor the activities and the standard of International Schools? Nowadays we find international schools at every corner.
Big Ears Sunday, 13 November 2011 06:19 PM
Why just schools?
GL Cooray Sunday, 13 November 2011 06:36 PM
See who is talking.... Are you sure? Only schools should maintain accounts?
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