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INTERNAL AUDIT DIVISION

E-mail CIA@abansgroup.com

Abans Group Finance

To : Ms. Shriyani Senadeera - Accountant

Thr : Mr. W.G.G.A.S.Gurusinghe - Chief Internal Auditor

From : Ms. Nikoshala Rathnayake - Asst. Manager – Internal Audit

Cc : Mrs. A. Pestonjee - Chairperson


: Mrs.S.Dubash - Director
: Mr. Rusi Pestonjee - Director
: Mr. B. Pestonjee - Director
: Mr. Nishantha Fernando - DGM Finance (Retail channel)

Subject : Verification of Inter Company Reconciliations as at


[LR 1 & 2] as at 31st March 2015

Ref No : IA/FA/RC/15/08/100

Date : 28th August 2015

We have checked the Inter-Company Reconciliations of Abans Retail (Pvt) Ltd LR 1 & LR2 as
at 31st March 2015.

Submit for your information please.

Thanks & Best regards.

..………………………..
Ms. Nikoshala Rathnayake
(Attended by: Ms. Dhanwathsara)

 Abans Retail (Pvt) Ltd – (LR – I) Vs.


Page 1 of 2 [File : LR 1 & 2 )intercompany as at 30/06/2014]
[Date : 29/Sep/2019]

#400,4th Floor, Abans Ltd, Galle Rd, Col-03. [Tel: - 0112-301554]

/conversion/tmp/scratch/439591650.doc
Reconciled balances of inter-company reconciliation as at 31st March 2015 are categorized as
follows.

Amount as per
Amount as per Retail (Pvt) Ltd–
Inter-Company Related Difference
LR 1
company
Code @ LR1 Balance Balance
Abans PLC (AB2) ABBCA8570 26,329,426 Cr 26,329,425.98 Dr 0.02
Abans PLC - ABL ABBCA8595 1,294,058,237.76 Dr 1,294,058,237.76Cr 0.00
Retail 2 (LR2) ABBCA8545 150,333,902.8 Cr 150,333,902.8 Cr 0.00
Abans PLC -AB1- Creditor ABCR3A032 70,779,630.26 Cr 70,779,637.01 Dr -6.75
Abans Auto (Pvt) Ltd-Retail ABBCA8605 3,071,270.61 Dr 3,071,270.75 Cr -0.14
Abans Retail (Pvt) Ltd -LRP ABBCA9015 Not Received 1,149,793,067.13Dr -
Abans PLC (AB1) ABBCA8568 159,969,194.71 Cr 159,969,194.71 0.00

Abans Retail (Pvt) Ltd – (LR – 2):

Reconciled balances of inter-company reconciliation as at 31st March 2015 are categorized as


follows.

Amount as per Retail Amount as per


Inter-Company Channel – LR 2 other company
Code @ LR2
Balance Balance Difference
ABL-Retail Channel 1(AB1) ABBCA8572 1,742,294.11 Dr 1,742,294.11 Cr 0
ABL-Retail Channel C/A -(AB2) ABBCA8571 24,131,432.19 Dr 24,131,432.19 Dr 0
Retail 1 Current Account (LR1) ABBCA8545 150,333,902.29 Dr 150,333,902.29 Cr 0
Abans Ltd Current A/C ABBCA8596 161,817,124.16 Dr 161,817,124.16 Cr 0
Abans Retail LR2 – (LRP) ABBCA9015 Not Received 195,973,298.82 Dr -
Abans PLC -AB2 - Creditor ABCR3A032 13,702,673.97 Cr 13,702,662.8 Dr 11.17

Conclusion:

There were no material misstatements found in the intercompany reconciliations as at 31/03/2015.

Page 2 of 2 [File : LR 1 & L2 as at 30/06/2014]


[Date : 29/Sep/2019]