Colombo, 30 September 2026 – Lanka Ventures PLC (CSE: LVL) has officially announced a significant change in its financial oversight, with M/s Ernst & Young, Chartered Accountants, being appointed as the company’s new statutory auditor. This decision, approved by shareholders, marks the conclusion of M/s KPMG, Chartered Accountants’ tenure.
Shareholders Approve New Appointment at AGM
The appointment of Ernst & Young was formalized through an ordinary resolution passed at the Annual General Meeting (AGM) of Lanka Ventures PLC, held on 29 September 2026. The transition sees a prominent global auditing firm taking over the crucial role of ensuring the accuracy and compliance of the company’s financial statements.
The disclosure was made in a communication addressed to Ms. Nilupa Perera, Chief Regulatory Officer of the Colombo Stock Exchange (CSE), by Corporate Services (Private) Limited, acting as Secretaries for Lanka Ventures PLC. The announcement adheres to the mandatory reporting requirements stipulated under Rule 8 of the Listing Rules of the Colombo Stock Exchange, emphasizing the company’s commitment to transparency and regulatory compliance.
Importance of Statutory Auditors in Corporate Governance
Statutory auditors play a pivotal role in maintaining the integrity of financial markets by providing an independent assessment of a company’s financial health. Their rigorous examination of financial records ensures that stakeholders, including investors and regulators, receive reliable and accurate information. The appointment of a firm of the calibre of Ernst & Young underscores Lanka Ventures PLC’s dedication to upholding the highest standards of corporate governance and financial transparency.
Both Ernst & Young and KPMG are internationally recognized professional services networks, renowned for their expertise in audit, tax, and advisory services. Such changes in auditing firms are a regular feature in the corporate landscape, often resulting from tender processes, changes in corporate strategy, or simply the periodic review of service providers to ensure optimal oversight.
Lanka Ventures PLC, a key player in Sri Lanka’s investment sector, continues to navigate its strategic objectives with this renewed commitment to robust financial scrutiny.
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