Financial Times

Over 500 companies not sent annual reports to SLAASMB
Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) in an investigative study has identified 531 companies who have not sent their financial statements to the Board.

Among them are 25 banks, eight of them listed in the Colombo Stock Exchange. SLAASMB has sent letters to all the companies, listed and unlisted, which come within their purview to send in their financial statements for the financial years since January 1999.

These companies are required to comply with Sri Lanka Accounting Standards and their audits should be carried out in accordance with Sri Lanka Auditing Standards.

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