Sri Lanka Consolidated Acts

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Sri Lanka Accounting and Auditing Standards Act (No. 15 of 1995) - Sect 30

Board to inform regulatory authority and Inland Revenue Department

30. Where any specified business enterprise has failed to act in compliance with provisions of this Act, it shall be the duty of the Board to bring such fact to the notice-
(a)of any authority which is empowered by law to regulate or supervise the activities of such specified business enterprise; and
(b) of the Inland Revenue Department, if the Board considers that such non-compliance has resulted in a substantial reduction of the tax liabilities of such specified business enterprise,

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