27 September, 2020

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Auditor General: Acid Test For Your Credibility

By Amrit Muttukumaru

Amrit Muttukumaru

My ‘Colombo Telegraph’ article ‘Auditor General Silent on Corrupt CA Sri Lanka’ published last week was written in the context of:

1) The Auditor-General is an EX-OFFICIO member of the powerful ‘COUNCIL’ of CA Sri Lanka (Institute of Chartered Accountants of Sri Lanka). You are also a senior Chartered Accountant.

2) Previously you were Director- General of Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB)

3) The failure of CA Sri Lanka and SLAASMB to hold the ‘Partners’ concerned of the two largest audit firms in the country – PwC & EY accountable for the ‘Open & Shut’ case of professional misconduct in the fraudulent privatization of SLIC (Sri Lanka Insurance Corporation) confirmed by (i) Supreme Court (ii) Parliament’s COPE (iii) Attorney-General and even CA Sri Lanka ‘Ethics’ Committee itself.

4) Chartered Accountants and Auditors are the first line of defence against corruption in all entities dealing with financial resources

Auditor General Gamini Wijesinghe

5) The alleged Treasury Bond scams for which you seek accountability – could not have taken place without the complicity of professionals in the hierarchy of the Central Bank and Bank of Ceylon – accountants, lawyers and others.

6) The alleged egregious corruption and abuse of power in Sri Lankan Airlines with banner headlines glaringly omitting to identity its longstanding auditor – Ernst & Young. This is avoided by all purported ‘good governance’ activists!

7) You will enhance your CREDIBILITY & MORAL AUTHORITY if you use your membership in the CA Sri Lanka ‘Council’ to demand accountability for the ‘Open & Shut’ case of professional misconduct in relation to the fraudulent SLIC privatization.

8) A regular columnist espousing ‘good governance’, W.A Wijewardena – Former Deputy Governor, Central Bank of Sri Lanka was previously longstanding Chairman, SLAASMB

9) Prominent media coverage to the several ‘Open Letters’ from Chandra Jayaratne held out to be a “good governance activist”
Conclusion

It is deplorable that apologists/proxies? (many nameless!) have come up with ‘red herrings’ in the continuing saga of the ‘cover-up’ of the said professional misconduct.

This include (i) “What is CA Sri Lanka? Canadian Aids?” (ii) “Do you have any private grudge or jealousy against CA Sri lanka?” (iii) “Can you please tell What is your profession.” (iv) “Who is Chandra Jayaratne .. Is he Dimu Jayaratne`s brother?”

Is it too much to expect a response without PREVARICATION in the PUBLIC INTEREST from (i) you (Auditor General) (ii) W.A Wijewardena (iii) Chandra Jayaratne?

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Latest comments

  • 2
    0

    Why carve out all the eggs at once?

  • 2
    1

    Auditors have very important roles in organisations which are funded by the state and even by the private sector.

    In some ‘audit reports’, “depreciation of assets” is purposely neglected, to enhance a ‘rosy picture’ of the organisation.

    The response to this query by Amrit Muttukumaru is awaited by all citizens who oppose corruption.

  • 2
    1

    Mr. Muthukumaru: I don’t blame you for digging into the past, because it is our National Characteristic and embedded in our genes. Even recently, we got highly involved in declaring century old Kandyian Chiefs as “National Heroes” overlooking all the present day mounting economic, political and social problems and that too at a cost to the Government coffers. That is our life style and way of doing things. Are we really ready to learn from the past and evolve a solution to the present day problems paving a safe way for the future? NO. We keep on questioning the past, name and blame people; but entirely ignore what is to be done to correct, prevent and plan for the future. Until we get out of this syndrome this country will never recover; but go down the precipice . Live in the past and perish has become the National Policy.

  • 2
    0

    I think it is wrong to accuse only the auditor when financial corruption is legislated when higher officials do it to support politicians.

    Because, auditor also has to live, he has a life and need to have a life etc., etc.,

    See how,both the President and Prime minister are taking time and covering the Cental Bank robbery. IT had been a day lite robbery which happend when everybdy was watcing it with opened eyes.

    Ranil wickramsinghe is taking a hugh effort to divert the attention to save three blind mice – Ranil, Arjun Mahendran, Ravi KArunanayake/Malik Samrawickeama. or Maithripala sirisena.

    I think, President and Ranil are behind it. so, they don’t want to prosecute anyone. Its’ execution is by Arjun Mahendran.

    Anyway, this kind of corruption should be a day to day occurance in Sri lanka in every ministry. Because, some ministers talk bits and pieces here and there about such other occurances.

  • 1
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    Amrit

    Hope you are doing well.

    Can you please go to court if no proper responses received.

    Yours truly

    Rotary friends

  • 1
    1

    RAVI TISSA

    Thank you – I am doing well although sad as to what is happening in the country.

    You have signed off as “Rotary friends”

    You have suggested – “please go to court if no proper responses received”

    Should not Rotary Sri Lanka with its millions of donor funds and claim of “Doing Good in the World” do this in the PUBLIC INTEREST?

    Yours faithfully,

    AMRIT MUTTUKUMARU

  • 3
    0

    CAN I as a citizen call upon all financial Institutions ,including banks and Financial companies to send their representatives ovwrseas to where Sri lankans are employed and encourage them to invest on FDs under Senior Citizens in their parents names and also in Their Namez in rupee .. Fds, why not get the Foreign Employement bureau ,and The overseas SL dpls involved in helping to promote. Using social media alone will not help.nothing like one to personal marketing.

    This is the need of the hour and every citizen must support the nation,no matter who is in rule. Country has to be stable .

    ………
    Please careful with property developers make sure you get a lawyer to check if the land is in the company’s name,if there any mortgages, Check with Fraud Bureau Narapemtiya ,opp Trilinuum Apts if the have any case against them. Do no pay any advance without a bank guarantee ,they can deposit it and give you a bank guarantee against it and apply for a bank loan to do the project, they can cover the interest they pay the bank partly from the FDS. All developers must provide you with a certified copy of the land deed ,Survey plan ,proposed and approved building plans, and all sales agreement s must be registered with land register. And most importantly you must check with Fraud Bureau for the company’s credibility. Devolper has cheated a set of people for all.most 7 billion ruppes .and even some higly reputed developers ate currently in trouble and are under investigation, please do not make any investments on land and properties, without getting a lawyer to check every detail and you must check with the Fraud Bureau ,they ate the most reliable law enforcing agency headed by a Very dedicated and honest ,very people friendly and supportive official,I highly respect her and salute her and her team who atw working killing themselves for the people 24 hours ,even on off times .please encourage and appreciate such officials and thank the government and The IJP for the this great service

  • 6
    0

    HELPLESS VICTIM OF Duminda Liyanage
    Of NAMAVIN housing Scam !
    _——– (you can find us on whatsup group)
    This was started during The time When Hon.Min. Wimal was in charge of housing. We plead to The Hon.Min.Premadasa and Hon.deputy Min.Ranjan (The poor man’s Saviours) to kindly help us .please
    While many frauds are reported , for some reason you can not find a Single large Scale Property Development scandals ,on any print or online medias ,it seems the Subject is purposely being suppressed by almost all medias .The notorious one is The Namvin Developers who promised low cost apartments in Col15,Horana and Nitumbuwa Hunupitiya and Kandana ,according to the poor helpless people who have paid large sums of money ,some even pawing their jewelry ,have no legal registered documents to go by ,they do not even have any copies of land deeds or The Housing project approved plan copies . according to sources who ate victims of the swindle ,the developer has collected monies amounting to Rs.7 billion ,he has also provided some with new letters saying the government owned BMC ,is now going to develop in Jan 2017 and again has said. No he will return the whole sum. How come the media is silent about it?

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