CBSL clarifies ruling on EY Partners who audited NDB Bank

Wednesday, 11 November 2026 00:23 - - {{hitsCtrl.values.hits}}

The Central Bank of Sri Lanka (CBSL) yesterday issued the following statement clarifying its recent directive to the auditors of NDB Bank.

“Following the disclosure of an internal fraud at National Development Bank PLC (NDB), the CBSL requested M/s Ernst & Young, Sri Lanka (EY) not to assign any audit engagements of Licensed Banks to the Engagement Partner and the Quality Assurance Partner involved in the audit of NDB’s financial statements.

“For the avoidance of doubt, this restriction does not affect the recognition of EY as a qualified auditor eligible to audit the accounts of Licensed Banks in Sri Lanka under the provisions of the Banking Act, No. 30 of 1988, as amended,” CBSL said.