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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » What are the Sri Lanka's most unprofessional and unreliable audit firms?

What are the Sri Lanka's most unprofessional and unreliable audit firms?

4 posters

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1What are the Sri Lanka's most unprofessional and unreliable audit firms? Empty Unethical Audit firms in srilanka Thu Oct 24, 2019 12:53 pm

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

Dear friends . dont trust audit opinions also. srilankan audit firms also there are robers. i know few of big 4 audit firms in SL will sign the audit as pass before even starting the audit. some audit firms when overseas reveaw comes create new working papers and put them in floor and moake them dusty to show them are old enough. also audit tarinees do not have capacity to evaluate related party payments and audit firms will not have access to directors fees. as excuse audit partner will tell u they personally check payroll its bull shit lie. even they check they dont revel the truth. 

somebody should take legal action regarding thease audit firms

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

do u know minimum salary in SL is like 15K i think .but audit trainees in big 4 ex EY are work like slaves and getting below 4500 LKR. audit firms like EY KPxG PWx and Delloix Srilanka will not care 
45 hour work week and 15 hour OT week rules audit trainees will work like 100 hour per week.

Do u trust thease unethical EY KPxG Pwx buggers will give accurate audit report when they break labour law and ethics ??

EY KPMG PWC are puppets of clients . Very Happy Very Happy Very Happy Very Happy Very Happy

i  put EY as it is since i can some what prove basterd acts by EY in court if needed

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

They just need the Audit fee.

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

1. They pay trainees 4000 per 3 years (dont pay minimum salary)
2. They dont care 45 hour max work week
3. they dont pay one cent for OT
4. they just need the audit fee (i know when EEYYY international audit come they prepare 
workings new and paste mud to seem its old  Very Happy Very Happy Very Happy Very Happy
5.CFO CA s will cook the books favoring major SH and rape minor SH
6.CA audits do not check the Manager payrolls 
7. 4000 paid trainees do not have ability to audit they are just babays they will miss findings
8.they keep rules tight to keep there slaving pool costant

due to above CA is most unethical proffestion in srilanka

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

if you need i can give evidence

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

Very Happy Very Happy Very Happy

unethical audit firms all big audit firms will pass audit opinion before commencing audit 
ask from audit trainees . never trust CA s

engineer


Manager - Equity Analytics
Manager - Equity Analytics

Any source for this statement?

kasun_gimhana

kasun_gimhana
Manager - Equity Analytics
Manager - Equity Analytics

ThilinaM wrote:
due to above CA is most unethical proffestion in srilanka
 Then what about doctors and lawyers. When compared to those to buggers CA s are a prestigious profession. 
 Give any specific audit report that financial statements are materially incorrect, even though the audit opinion states that the financial reports are free of any material misstatements.

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

i posted about how unethical CAs are . its relevant since CA will sign a PLC audit report. admins have removed it . fuck u admin

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

ThilinaM wrote:i posted about how unethical CAs are . its relevant since CA will sign a PLC audit report. admins have removed it . fuck u admin

Similar Topics are merged. No articles have been deleted.
https://www.srilankachronicle.com/t57052-what-are-the-sri-lanka-s-most-unprofessional-and-unreliable-audit-firms#354569

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

Ah ok sorry

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

@kasun - Doctors and lawyers are not related to investors. so we will not talk about them. problem is CA institute is show offing that they are ethical but maintaining slaving pools cooking books and praisig major shareholders

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

@engineer - ask from audit trainee how mutch they paid and how many hours  they work???
did you saw any audit failed recently/ they do not audit properly thats y. after bond scam EY passed central bank audit as i know. there are many example thease CAs are paid for doing nothing

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

now most of PLC CFOs are Graduates and MBAs who have practicle sence
CAs are proving they are not ethical and practicle people again and again

world all top 10 CFO including Luca Maestri (highest paid CFO) are not CAs they have degree+ practicle sence


As investors we have to put end to this crappy people to come in to top possitions like CFO
CAs are not practicle and they proved to be unethical.


CAs will loose there practicle sence when they doing those impracticle CA exams Very Happy 

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

Also CAs are extreamly weak dicition makers . they think and think not taking accurate decitions on time
CAs are fear for risk

kasun_gimhana

kasun_gimhana
Manager - Equity Analytics
Manager - Equity Analytics

ThilinaM wrote:now most of PLC CFOs are Graduates and MBAs who have practicle sence
CAs are proving they are not ethical and practicle people again and again

world all top 10 CFO including Luca Maestri (highest paid CFO) are not CAs they have degree+ practicle sence


As investors we have to put end to this crappy people to come in to top possitions like CFO
CAs are not practicle and they proved to be unethical.


CAs will loose there practicle sence when they doing those impracticle CA exams Very Happy 
Lol. Are u joking? Just ask someone, who is in corporate world. everybody knows how much demand has CA rather than MBA and CIMA. not only in Srilanka but also overseas. Have you done any CA exams. the level of difficulty and competitiveness in final level. Just check who are in the top position of the boards in srilanka PLCs. CA are only second to ACCA when compared with other qualification available in Srilanka .  There is a problem in salary level of audit trainees but that decent make the qualification have problems.  Please listen to Dammika Pereras speech, he gave a good example of the honesty of the CA when compared to other mangers. Any company under control of accountant are always good and take care of S/H interest but when control goes to sales managers, it is better to say away from those business.

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

@kasun - Im a CA finalist . CA may be hot in SL for another little time . developed countrys there care about practicality more than exam difficulty. CAs are most impracticle people i have seen . world top paid CFOs like antony noto etc do not have proffesional accounting qualification. i compare a harverd MBA to local CA not shitty money MBA. any way CA will shine for another little time CAs are book worms

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

SL CA will not even get a entry level job in usa /ausee or england

ThilinaM

ThilinaM
Vice President - Equity Analytics
Vice President - Equity Analytics

All CAs are not impracticle book worms . but most of them 90% are impracticle people. what is the percentage of CAs that start business at least invest in markets ??? they fear . they are trained to take less risk so there decitions are slow and not optimal. when come to business brain and balls matter than education (ex CA)

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