Legal action is being considered against the Council and the Ethics Committee members of the Institute of Chartered Accountants of Sri Lanka (ICASL) over failure to take action pertaining to the conduct of Sri Lanka Insurance Corporation (SLIC) auditors, Ernst & Young, and the integral role they played in the now annulled SLIC privatization.
Abdeen Associates representing the petitioner in the SLIC fundamental rights case Vasudeva Nanayakkara sent a letter dated 16 September 2009 to ICASL attorney Yamuna S.S. Kuruppu stating that it is appalling that the ICASL has up to now questionably been tardy in taking action on a complaint made in 2005 and the facts disclosed in the case in 2007.
The letter points out that ICASL was a respondent in the case and was well aware of the facts disclosed before the Supreme Court, particularly pertaining to the conduct and actions of Ernst & Young as well as the government's consultants, PricewaterhouseCoopers. Mr. Nanayakkara is also asking for the names and addresses of the members of the Council from 2005 up to 2009 and the names of the members of the Ethics Committee during the same period for contemplated action in Court in the public interest. |
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