The Central Bank this week responded with a firm ‘no’ on whether Standard Chartered Bank, Citi Bank and three other banks are now able to recover their dues running into millions of US dollars from the Ceylon Petroleum Corporation (CPC).
The national accounting and auditing standards watchdog says it needs more legal teeth, to avoid a repetition of the Golden Key type of mega-public scam in future. The regulator is now trying to amend its legal mandate to get more autonomy, to check into the accounts of companies.
