Latest Findings

Direction issued by the Board to re Audit the financial statements of Agalawatte Plantations PLC for the year ended 31 December 2014.
Sierra Construction (Private) Limited (2014) – Not reducing the carrying value of receivables from a related party, to its recoverable value. (Reference LKAS 39 paragraphs 58 and 63)
Development Lotteries Board (2014) – Not recognizing a liability in respect of taxes in default-(Reference Conceptual Framework, LKAS 32 paragraph 11(a) and LKAS 39 paragraph 43)
Adamjee Lukmanjee & Sons (Private) Limited (2015) - Not presenting consolidated financial statements. (Reference SLFRS for SMEs Section 9, paragraph 9.2)
Kalpitiya Beach Resorts PLC (2017)-Not recognising an impairment of the investment in its associate (Reference LKAS 36, Impairment of Assets Paragraph 8)
Akbar Brothers (Private) Limited (2015) – Not presenting consolidated financial statements. (Reference SLFRS for SMEs Section 9, paragraph 9.2)
Central Finance Company PLC (2017) - Not making adequate impairment allowance in relation to loans and receivables (Reference LKAS 39 paragraph 59 and 63).