Category: Other
Too Much?
A top audit expert is asking authorities close ownership loopholes on investment trusts, as capital market regulators tighten the noose on auditors and listed companies. A top audit expert is asking authorities close ownership loopholes on investment trusts, as capital market regulators tighten the noose on auditors and listed companies. The requests comes as the […]
Land Grab
The government cancelled 528 land transactions under the Land Reclamation Commission (LRC) on Thursday.The government cancelled 528 land transactions under the Land Reclamation Commission (LRC) on Thursday. All land transactions between January 2002 and March 2004, of State land under the LRC, are cancelled as of now, said the Cabinet spokesman Mangala Samaraweera on Thursday. […]
The Tea Board is planning to slap on an addition one rupee cess on made teas, to bridge the gap with its increasing budgets.
The Tea Board is planning to slap on an addition one rupee cess on made teas, to bridge the gap with its increasing budgets. The Tea Board is planning to slap on an addition one rupee cess on made teas, to bridge the gap with its increasing budgets. However, initial indications from the industry has […]
Auditing PC’s
Moving the accounting records from books to computers happened over the last two decades for most companies. Moving the accounting records from books to computers happened over the last two decades for most companies. The challenge of auditing these computer based accounting records was not anticipated at that time and the accounting profession is just […]
Bi-partisan Pyramid
The government strongly condemned pyramid schemes today promising quick cabinet approval to draft anti-pyramiding legislation. The government strongly condemned pyramid schemes today promising quick cabinet approval to draft anti-pyramiding legislation. “This government is warning the public of this country very seriously not to invest in these pyramid schemes,” Finance Minister Dr. Sarath Amunugama told a […]
Responsibilty & Co.
Governments depended on tough legislation and regulation to make sure companies don’t damage the environment or exploit labour. Governments depended on tough legislation and regulation to make sure companies don’t damage the environment or exploit labour. But globalization and the resulting open market economies are bringing the same pressures on companies minus the legal action. […]
Midas Touch
Haycarb, the 68 percent owned subsidiary of the conglomerate Hayleys Group, plans to set up shop in Indonesia, while a surge in world gold prices swells its bottomline.Haycarb, the 68 percent owned subsidiary of the conglomerate Hayleys Group, plans to set up shop in Indonesia, while a surge in world gold prices swells its bottomline. […]
Strategic Act
Senior Presidential Advisor Mano Tittawella on Wednesday told a conference hall full of donor agency representatives that a draft bill to set up the Strategic Enterprises Management Agency (SEMA) is being pushed through to give legal teeth to its reform agenda.Senior Presidential Advisor Mano Tittawella on Wednesday told a conference hall full of donor agency […]
Joint Effort
The Securities watchdog has asked the Institute of Chartered Accountants to incorporate the SEC’s views into the ICASL’s corporate governance code. The Securities watchdog has asked the Institute of Chartered Accountants to incorporate the SEC’s views into the ICASL’s corporate governance code. The Securities & Exchange Commission says the changes should be made within the […]
Deja Vu
Black July is past but not gone for good, warns the Asian Human Rights Commission (AHRC) pointing to cases of police torture that continue to occur in Sri Lanka.In January this year, the High Court of Colombo sentenced a Sub-Inspector of Police to seven years rigorous imprisonment with a fine for torturing an innocent civilian.rn […]
Reform Pains
Civil rights activists warn that Sri Lanka is in danger of unfavourable reforms because of poor application of international trade agreements. Human rights groups are drawing attention to legal reforms – brought on by multilateral and bilateral trade agreements that can work against the country if not implemented with care.rn rnLegal and other types of […]
Back Stabbing
A supporter of the breakaway commander who led an unprecedented split in the Tamil Tiger guerrillas in March was gunned down by a fellow inmate at a jail in eastern Sri Lanka Thursday, officials said.rnThe victim was identified by officials as Sathya Master, a key supporter of renegade leader Karuna. rn The Tigers had previously […]