SOEs given one-and-a-half months to strengthen audits

3 days ago

Privatization and Corporatization Board (PCB) has given State-owned Enterprises (SOEs) until the end of January to strengthen internal audit and risk management functions, as the latest report by the board show multiple companies operating at a massive loss. According to the Q1 review released by the PCB, 12 SOEs collectively accumulated over MVR 280 million in losses during the first quarter. In