Annual Report 2012 - National Savings Bank

196THE RESULTS OF A CHALLENGING YEARSTATEMENT OF DIRECTOR’S RESPONSIBILITY ON FINANCIAL REPORTINGThe Directors ensure that the internalcontrols were reviewed by them directlyat their regular meetings and alsothrough the Board Audit Committee.The results of such reviews carried outduring the year ended 31st December2012 is given on pages 197 to 199 of theAnnual Report, “Directors Statementon Internal Control”. The ExternalAuditors’ Assurance Report on theInternal Control is given on page 200of the Annual Report. The Board ofDirectors approves the interim FinancialStatements prior to release, following areview and recommendation by BoardAudit Committee.The Board appointed Audit Committeeconsists of 3 Directors of the Bank. TheCommittee has made an independentassessment of the Financial Reportingsystem of the Bank and conrmed thatto the best of its knowledge and beliefthe Financial Reporting system of theBank has been designed to providereasonable assurance on the reliabilityof Financial Statements.The Directors conrm to the bestof their knowledge and belief thatall statutory payments relating toemployees, the Government and theother relevant regulatory and statutoryauthorities which were due and payableby the Bank and its Subsidiary as atthe Statement of Financial Positiondate have been paid or where relevantprovided for. Further, the Directors haveconrmed that after considering thenancial position, operating conditionsand regulatory factors required to beincluded in the Corporate GovernanceCode issued by the Central Bank ofSri Lanka, the Bank and its Subsidiaryhave adequate resources to continue inoperation to justify the application ofthe going concern basis in preparingthese Financial Statements and theBoard has taken all necessary measuresto comply with the directives issued bythe Central Bank of Sri Lanka.The Auditor General carries out theaudit of the Bank. In 2012, the auditwas carried out throughout the year.Issues identied in their reports weresubmitted to the management regularlyfor prompt action. Having conrmedthe accuracy of the nancial reporting,the Financial Statements, together withthe necessary data and informationwere made available to the AuditorGeneral for examination. The AuditorGeneral’s opinion on the FinancialStatements appears on page 203 of thisAnnual Report.By Order of the Board,Y F DeenSecretary to the BoardColombo28 March 2013NATIONAL SAVINGS BANK . ANNUAL REPORT 2012