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  • 14Aug 2014
    Businesses Lose 5 Percent of Revenues to Fraud

    During my recent visit to London, England, my eyes were caught by the headline in the popular London evening newspaper, The Evening Standard, which stated: 'Royal Marsden Worker's Fraud Put Cancer Patients at risk'. The fraud at the Royal Marsden, which is a world-leading cancer centre specializing in cancer diagnosis, treatment, research and education, was described as potentially "catastrophic f...

  • 30May 2014
    Furthering excellence in public sector performance

    It has now been over a year since the G-20 Finance Ministers and Central Banks Governors' Meeting in Moscow declared a "goal of strengthening the public sector balance sheet" and of "looking at transparency and comparability of public sector reporting, and monitoring the impact of financial sector vulnerabilities on public debt." It has recently been reported that the sovereign debt crisis is easi...

  • 26Apr 2014
    Urgent and overriding need for new tax regime

    While government expenditure has been steadily increasing over time, government revenue has steadily declined, resulting in recurrent fiscal deficits. Almost 90% of government revenue comes from taxes and the other 10% is accounted by non-tax sources. The tax system has not been, and is not delivering, potential revenue in Sri Lanka. As income increases in a country, the revenue also increases, al...

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