A Brief Colonial History Of Ceylon(SriLanka)
Sri Lanka: One Island Two Nations
A Brief Colonial History Of Ceylon(SriLanka)
Sri Lanka: One Island Two Nations
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Thiranjala Weerasinghe sj.- One Island Two Nations
?????????????????????????????????????????????????Tuesday, August 1, 2017
The Need To Reveal The Public Interest Information Re Controversial Penthouse?
The Public Interest Information re Controversial Penthouse will be answered by the relevant parties by responding to the undernoted questions:
1. Details
of the respective Lessees, Tenants and Owners of the property, during
the period January 2015 to June 2017, along with any relevant changes
and effective dates of change?
2. If a Company was the Lessee, Tenant or Owner of the property during this time,
a) Whether a private or public company?
b)
the names of shareholders and directors of the company, along with
their respective levels of shareholding interests and dates of change?,
and
c) the primary business activity of the entity?
3. If
any shareholder or director of the entity was a non resident,
confirmation that the relevant and applicable statutory and regulatory
compliance processes had been duly adopted in the allotment of shares
and the appointment as directors?.
4. If any of the individual or companies, who were Lessees, Tenants and
Owners of the property were deemed to comprise of any Politically
Exposed Persons or persons closely related to such persons, were the
required reviews and approvals processes complied with by the
professionals, lawyers, bankers etc, involved ;
a) When opening banking relationships?
b) in the subsequent processing of financial transactions or contracting ?
c) in the assessment of requests for loans or credit facilities from Banks?
d) grant of loans and credit facilities by Banks,
in line with the Financial Action Task Force Guidelines covering Politically Exposed persons?
5. When
the persons or entity in question took steps to settle significantly
high value loan repayments in cash, did the relevant Banks in question
take steps to raise Suspicious Transactions Reports in compliance with
the directions issued by the Financial Investigations Unit?
6. From which sources did the non-resident director/chairman access the significantly large cash holdings to be deposited in the safe of
the business entity? Were these from existing holdings in local banks?
If so did such bank validate the reasons for the draw-down of such cash
in currency notes? and did they raise suspicious transaction reports? Or
were these currency notes secured by way of inward remittances
en-cashed locally or did he bring over currency notes from overseas? and
If so did such bank validate the reasons for the draw-down of such cash
in currency and raise suspicious transaction reports? What denomination
were the notes in and were they all new Rs. 5000/= currency notes?
7. If
Suspicious Transaction Reports were raised in the instances 5 and 6
above, what action was taken by the Financial Investigations Unit?
8. Have
the banks in question, which received such significant cash payments a
record of the currency note serial numbers and did they validate the
said numbers with the declared source of notes?
9. How
did the Accountants and the Auditors of the entities engaged, account
for and treat the cash payments made by third parties as lease rentals,
cash holdings and cash payments in loan settlements, in preparing the
Accounting statements of the entities, especially
a) the cash receipts and cash deposits in banks and cash payments to the lessors of the property?
b) the Cash receipts kept in the safe?
c) The Cash payments made to lenders as repayment of loans, using the cash in the safe?
d)
Did they by way of any notes to the accounts disclose in these
instances, any consequential conflicts of interests and any related
party transactions?
e)
Were the cash in safe under insurance cover and were the extents of
holding declared to Insurers were these declarations seen by Accountants
and auditors?
f)
Were these transactions including third party lease rent payments
queried by the internal or external auditors of the entities concerned?
g) Did the formal minutes of the entities, including those making unrelated third party payments note these transactions?
h) Were there any references in the Management letters of the auditors to any of the above entities regards these transactions
i) Were the Accounts qualified or these transactions subject to highlight by the auditors?
10. How
were these transactions accounted for in Tax Accounts and Tax returns
of the entities and individuals concerned? The apartment having been
used by directors of the entity, was any Payee or other taxation
payments made on account of non cash benefits of the said directors, in
their occupation of a leased property at first and an owned property
subsequently?
11. Had
the revised Code of Ethics of the Institute of Chartered Accountants of
Sri Lanka, now in force been applicable then, would professional
Accountants involved in these entities in any capacity, including as
accountants and auditors, taken due steps in line with the said Code to
have responded to these significant non compliance with laws and
regulations (NOCLAR) ?