🏛️ CBSL Clarifies Ruling on EY Partners Following NDB Bank Audit

The Central Bank of Sri Lanka (CBSL) has issued a official clarification regarding its recent directive concerning Ernst & Young (EY) Sri Lanka following an internal fraud disclosure at National Development Bank PLC (NDB). • CBSL Directive & Specific Restrictions: - CBSL requested EY not to assign any audit engagements of Licensed Banks to the specific Engagement Partner and Quality Assurance Partner involved in NDB's financial statements audit. • Regulatory Status of Audit Firm: - CBSL clarified that the restriction is limited strictly to the individual partners involved. - EY remains fully recognized as an eligible, qualified auditor for Licensed Banks in Sri Lanka under the Banking Act, No. 30 of 1988.