SDB bank and CA Sri Lanka Collaborate to Strengthen Cooperative Auditing Practices

SDB bank; The Bank where you are valued, partnered with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) to conduct a specialized workshop for audit officers attached to the Department of Cooperative Development. The overarching objective is to strengthen financial accountability within the cooperative fraternity by cascading knowledge, expertise, and experience to grassroots societies connected with the department, ultimately enabling them to benefit from improved audit standards.

The workshop brought together officers from the Kegalle, Kurunegala, and Badulla districts, equipping them with modern auditing and accounting techniques to enhance financial oversight within cooperative societies. While the first phase of this initiative focused on these three districts, it is part of a larger islandwide project aimed at strengthening financial transparency and governance across Sri Lanka. Cooperative societies play a vital role in the country’s grassroots economy, and well-governed financial systems enable them to access better funding opportunities, directly supporting the growth of SMEs and reinforcing broader sustainability goals.

This initiative strengthens financial integrity by bridging knowledge gaps and introducing contemporary best practices, ensuring long-term stability for cooperative organizations. It also fosters greater collaboration between the Cooperative Development Department and SDB bank, paving the way for continuous improvement in governance and financial management.

Commenting on the program, Mr. Lasantha Edirisooriya, Assistant General Manager – Cooperative Development of SDB bank, said, “We recognize that empowering audit officers with the right skills is essential to sustaining the financial health of cooperative societies. This workshop is part of our broader commitment to strengthening industry standards and fostering a culture of trust and transparency. When cooperative societies are well-governed, they gain better access to funding, creating a ripple effect that benefits grassroots SMEs and aligns with our long-term sustainability objectives. This program is also part of a larger initiative driven by CA Sri Lanka's SME Task Force, formed under the leadership of Senior Chartered Accountant and former Chairman of SDB bank, Mr. Lakshman Abeysekara. We’re also privileged to have Mr. Saman Srilal - Council Member of CA Sri Lanka and Managing Partner at RTA Sri Lanka, with over 25 years of experience as the key resource person for this session.”

SDB bank’s engagement with the cooperative sector reflects its overarching vision of driving sustainable banking across Sri Lanka with a special focus on the cooperative sector. By supporting local SMEs, promoting women’s entrepreneurship, and enhancing financial and digital inclusion, the bank aims to create meaningful economic impact while fostering resilient and progressive communities.

About SDB bank:

A future-ready bank, dedicated to offering customer-centric and comprehensive support tailored to everyone's needs, SDB bank is a licensed specialized bank regulated by the Central Bank of Sri Lanka, with a listing on the Main Board of the Colombo Stock Exchange and a Fitch Rating of BB +(lka). Through the network of 94 branches island wide, the bank provides a comprehensive range of financial services to its Retail, SME, Cooperative, and Business Banking clients across the country. Environmental, Social, and Governance (ESG) principles are deeply ingrained in SDB bank's ethos, with a steadfast focus on uplifting local communities and businesses through sustainable practices. The bank is particularly committed to promoting women's empowerment, sustainable development of SMEs, and digital inclusion, aiming to propel Sri Lanka to new heights.