SLAASMB is the statutory authority in Sri Lanka to monitor compliance with financial reporting and auditing standards in respect of public interest entities (listed companies, banks, insurance companies and others). SLAASMB recieved membership of the following during the stewardship of Mr. Ratnayake.- International Forum of Independent Audit Regulators (IFIAR) [Also member of the Advisory Council from 2013]- Consultative Advisory Group of the International Auditing and Assurance Standards Board (IAASB)- Consultative Advisory Group of the International Ethics Standards Board for Accountants (IESBA)- International Valuations Standards Council (IVSC) [Also Mr. Ratnayake is a member of the working group on valuation of Commercial Forests] Corrections made to financial statements by entities within SLAASMB's purview during the period of stewardship of Mr. Ratnayake amounted to Rs.64b. It is estimated that the corrections would have affected market prices of listed companies to the extent of 5% of the market capitalisation of the Colombo Stock Exchange.