The World Bank has praised the Government of Sri Lanka for taking significant strides to improve its financial reporting system.
In a recent report, the World Bank said that the financial reporting system in Sri Lanka was now more transparent and increasingly attractive to investors.
It further stated that the current system of financial reporting was better aligned with international standards, and this would facilitate what it called "clean growth".
The World Bank has mentioned this achievement in its latest Reports on the Observance of Standards and Codes (ROSC).
It, however, said that Colombo still faces challenges to carry out reforms.
