KPMG in Sri Lanka at SLID Audit Committee Forum – Session 33

The 33rd Audit Committee Forum, held on 23 June 2026 at the Ivy Room, Cinnamon Grand Colombo, was conducted in collaboration with KPMG in Sri Lanka and The Sri Lanka Institute of Directors (SLID).

The session brought together board members, audit committee representatives, banking professionals, and industry leaders to discuss the evolving responsibilities of audit committees within the banking sector. As financial institutions continue to navigate an increasingly complex environment shaped by regulatory developments, emerging risks, digital transformation, and heightened stakeholder expectations, the forum explored the critical role of audit committees in strengthening governance, enhancing oversight, and promoting organizational resilience.

The panel featured insights from leading industry practitioners:

• Ranjani Joseph, Chief Operating Officer and Head of Banking Sector, KPMG in Sri Lanka
• Dilshan Rodrigo, Director / Chief Executive Officer, Union Bank PLC
• Faizal Salieh, Former Chairman, Securities and Exchange Commission of Sri Lanka, and Former Chairman, SLID
• Yohan Perera, Independent Non-Executive Director

The session was moderated by Coralie Pietersz, Chairperson, Bogala Graphite Lanka PLC.

During the discussion, the panel examined key issues impacting bank audit committees, including governance effectiveness, regulatory compliance, audit oversight, risk management, and the evolving expectations placed on boards and financial institutions. Particular emphasis was placed on the need for robust governance frameworks, effective oversight mechanisms, and strong internal controls to support accountability, transparency, and long-term sustainability within the banking sector.

Ms. Ranjani Joseph shared her perspectives on the practical challenges and opportunities facing bank audit committees, highlighting the importance of maintaining strong governance practices while adapting to a rapidly changing regulatory and risk landscape. The discussion also explored how audit committees can contribute to strengthening institutional resilience and enhancing stakeholder confidence in an increasingly dynamic financial environment.

The session facilitated meaningful dialogue among participants and reinforced the growing importance of effective audit committee oversight in supporting sound governance and sustainable growth across the banking industry.

KPMG in Sri Lanka continues to support boards, audit committees, and financial institutions through insights and advisory services in governance, risk management, regulatory compliance, and audit oversight, helping organizations build resilience and drive sustainable value creation.