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A ban on E&Y company for auditing the fraudulent NDB
Following the certification of NDB Bank's 2025 financial statements, a leading financial institution in Sri Lanka, a large-scale financial fraud amounting to LKR 13 billion was uncovered, leading to significant turmoil in the country's banking and au…
Summary
de Silva Jayathilake, Director of Bank Supervision, confirmed that the Central Bank has already taken several actions against the auditors concerned. Accordingly, the stakeholders directly involved in this audit will no longer be permitted to continue bank auditing activities, and the Central Bank has also taken steps to reorganize the Board Audit Committee of NDB Bank. Mohootti stated that it was not possible.
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