Sri Lanka - Local Professional ServicesSri Lanka - Local Services
Accounting is based on the British model and is active and competent. The source of accounting standards is the Institute of Chartered Accountants of Sri Lanka and standards are regularly updated to reflect current international accounting and audit standards. KPMG, Ernst and Young, PricewaterhouseCoopers, and Deloitte are represented in Sri Lanka.
There is also a competent legal profession. Sri Lankan commercial law is almost entirely statutory. The law was codified before independence in 1948 and reflects the letter and spirit of British law of that era. It has, by and large, been amended to keep pace with subsequent legal changes in the United Kingdom. All agreements made with local partners and agents should be in writing. In the event any disputes or problems arise, it is helpful to have written records for the purpose of supporting a legal case. The Embassy's Consular Section maintains a list of some attorneys in Sri Lanka, a copy of which may be obtained upon request. The leading law firms in Sri Lanka are also listed in the International Law List published in the United Kingdom. The legal system, however, is slow and cumbersome, and there are concerns about politicization of the judiciary. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
There is also a competent legal profession. Sri Lankan commercial law is almost entirely statutory. The law was codified before independence in 1948 and reflects the letter and spirit of British law of that era. It has, by and large, been amended to keep pace with subsequent legal changes in the United Kingdom. All agreements made with local partners and agents should be in writing. In the event any disputes or problems arise, it is helpful to have written records for the purpose of supporting a legal case. The Embassy's Consular Section maintains a list of some attorneys in Sri Lanka, a copy of which may be obtained upon request. The leading law firms in Sri Lanka are also listed in the International Law List published in the United Kingdom. The legal system, however, is slow and cumbersome, and there are concerns about politicization of the judiciary. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.