The Securities and Exchange Commission of Sri Lanka (SEC) has appointed Ernst &Young as a special purpose auditor to conduct a Special Purpose Audit on Blue Diamonds Jewellery Worldwide.
It will assist the SEC to examine the documents and other evidence produced in support of the complaints received from the shareholders and investors with regard to the utilization of the proceeds collected from the rights issue of Blue Diamonds Jewellery Worldwide from January 21 2015 to September 30 2015 by the company. Ernst &Young has reviewed the objectives of the rights issue and budgeted value assigned to each objective,examined cash books and reviewed disbursement of rights issue proceeds, evaluated the substance of the amounts utilized for the objective as stated in the rights issue document.
It will assist the SEC to examine the documents and other evidence produced in support of the complaints received from the shareholders and investors with regard to the utilization of the proceeds collected from the rights issue of Blue Diamonds Jewellery Worldwide from January 21 2015 to September 30 2015 by the company. Ernst &Young has reviewed the objectives of the rights issue and budgeted value assigned to each objective,examined cash books and reviewed disbursement of rights issue proceeds, evaluated the substance of the amounts utilized for the objective as stated in the rights issue document.
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