Sri Lanka Audit Officer Exam case studies
Sri Lanka Audit Officer Exam · Put your knowledge to work in context.
The Sri Lanka Audit Officer Examination is a recruitment examination for graduates seeking appointment as Audit Officers in Sri Lanka's public sector audit service. Candidates typically hold a degree with a strong accounting or finance component, and the examination tests both technical accounting knowledge and the analytical judgement an auditor applies to public expenditure. The Sri Lanka Audit Officer Exam case studies are 5 cases and about 4,517 words.
1LankaSoft Solutions: Allocating a Discounted Bundle and Constraining an Uptime Bonus under SLFRS 15
LankaSoft Solutions (Pvt) Ltd, a Colombo software vendor with a 31 December year end, signed a contract on 1 March 2025 with a state bank. The contract price is LKR 90 million: the bank pays LKR 45 million on signing and the balance in three annual instalments.
865 words, about 4 min2Wayamba Tyre Retreads: A Bank Demand, a Collapsed Customer and Unsaleable Inventory
Wayamba Tyre Retreads (Pvt) Ltd has a 31 March 2025 year end, revenue of LKR 1.62 billion and overall materiality set at LKR 12 million. The LKR 350 million term loan was due for renewal in April 2025, and a covenant test at year end was breached because EBITDA fell 18%.
885 words, about 4 min3Kalutara District Secretariat: Advances, Missing Imprest and a Contract Paid Without Measurement
You are an audit officer at the Auditor General's Department auditing the Kalutara District Secretariat for 2024. The file shows: (i) LKR 3.8 million of advances to 42 public officers for official travel, of which LKR 1.9 million relating to 17 officers has been outstanding for more than eight months despite reminders; (ii) an imprest of LKR 1.5 million held by a development officer who was transferred out in September 2024 and has not accounted for it; (iii) fuel bills of LKR 2.4 million for 38 vehicles paid without trip sheets or log books; (iv) LKR 1.1 million of roofing sheets donated for a village project lying in the store but not entered in the inventory register; (v) a payment of LKR 900,000 to a contractor for a community hall where the work was not measured or certified, and the same contractor received two further advances of LKR 450,000 each; (vi) LKR 5 million transferred from the supplies vote to a capital vote in December to avoid a vote overrun.
945 words, about 5 min4Lakvijaya Foods: Component Make-or-Buy with a Capacity Constraint, and a Break-Even Export Order
Lakvijaya Foods (Pvt) Ltd makes a dairy drink. Component X, used in the drink, costs LKR 360 per unit to make in-house: direct materials 180, direct labour 120 and variable overhead 60.
909 words, about 5 min5Colombo Retail Holdings: Dividend and Share Buy-Back Against a Failing Solvency Test
Colombo Retail Holdings (Pvt) Ltd has a founder-director holding 60% and an institutional investor holding 40%. The board wants to pay a dividend of LKR 60 million in July 2025 and buy back the investor's entire 40% stake for LKR 150 million in September 2025.
913 words, about 5 min