Sri Lanka Audit Officer Exam study guide
Sri Lanka Audit Officer Exam · Work through your exam, one topic at a time.
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 study guide has 8 sections and about 2,959 words.
01Financial Accounting and Reporting (SLFRS/LKAS)
Financial Accounting and Reporting tests whether you can apply Sri Lanka Accounting Standards - SLFRS and the older LKAS, issued by CA Sri Lanka and converged with IFRS/IAS - plus the Conceptual Framework, to prepare and interpret general-purpose financial statements. Underlying assumptions: accrual, going concern, materiality and substance over legal form.
396 words, about 2 min02Auditing and Assurance Standards
This domain tests the Sri Lanka Auditing Standards (SLAuS, adopted from the ISAs by CA Sri Lanka), the ethical code, and - for public sector candidates - the ISSAIs and the National Audit Act No. 19 of 2018 framework that governs the Auditor General.
357 words, about 2 min03Public Sector Accounting and Financial Regulations
This domain examines how Parliament votes money, how departments spend it lawfully, and how the Auditor General reports on it - the constitutional articles, the Financial Regulations (FR) of the Government of Sri Lanka, Treasury circulars and the shift towards Sri Lanka Public Sector Accounting Standards (SLPSAS). Article 148: Parliament controls public finance; no tax or levy may be imposed except by or under an Act of Parliament.
392 words, about 2 min04Management Accounting and Cost Accounting
This domain tests how costs are collected, absorbed, controlled and used for decisions - cost classification, job and process costing, standard costing variances, marginal costing and budgeting. Classify costs as direct or indirect, and by behaviour: fixed, variable, stepped or semi-variable (high-low method separates them).
359 words, about 2 min05Business Law
Business Law tests the general principles of contract, sale of goods, agency and partnership as applied in Sri Lanka, where the contract law is largely the Roman-Dutch common law supplemented by statutes such as the Sale of Goods Ordinance No. 11 of 1896 and the Prevention of Frauds Ordinance No.
388 words, about 2 min06Company Law and Taxation
This domain covers the Companies Act No. 7 of 2007 and the main tax statutes, led by the Inland Revenue Act No.
380 words, about 2 min07General Knowledge
General Knowledge tests your grip on Sri Lanka's constitutional structure, public institutions, economy and geography, and on the international bodies the country belongs to. The 1978 Constitution, as amended, provides an executive President, a unicameral Parliament of 225 members elected by proportional representation, and an independent judiciary.
353 words, about 2 min08Aptitude and English
This domain combines quantitative aptitude, data interpretation and logical reasoning with English usage - the sections where speed and precision, not deep theory, decide the mark. Percentages: percentage change = (new − old) ÷ old.
334 words, about 2 min