Naughty Naughty

Sri Lanka
quote s accounting watchdog has asked several listed companies to correct their accounts released during the last two years.rn

rnAmong the companies rapped by the Sri Lanka Accounting Standards Monitoring Board in 2001 are Asian Hotels Corporation, Trans Asia Hotels, rn

rnwhich is in the same group, Alliance Finance, Central Finance, Blue Diamonds Jewellery and Kandy Hotels.rn

rnAsian Hotels Corporation and Trans Asia Hotels had not provided depreciation as required by the accounting standards for some items.rn

rnAsian Hotels auditors had not qualified their report in this respect. rn

rnAlliance Finance and Central Finance had not provided depreciation for some investments amounting to 5 million and 34 million, which the auditors had not highlighted. rn

rnBlue Diamonds Jewellery were also pulled up for not providing for falls in investment values,rn

rnThe Monitoring Board says the auditors had qualified their report.rnKandy Hotels had capitalized some expenses. rn

rnNot marking inves