Browsing by Author "Herath, H. M. M. N."

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Effect of Internal Audit on Fraud Management in the Financial Service Sector in Sri Lanka
(Department of Accountancy, University of Kelaniya, Sri Lanka., 2022) Sepala, P. H. N. H.; Herath, H. M. M. N.; Munasinghe, M. A. T. K.
This study aims to study the relationship between internal audits and fraud management. Accordingly, this study, examines the internal audit organizational status, internal audit capabilities, and the contribution of internal audit activities to the fraud management of financial services companies in the Sri Lankan context. The target population for this study was defined as the 80 currently traded financial service sectors firms in Sri Lanka and data collected from systemically important banks namely, Bank of Ceylon, Commercial Bank of Ceylon, Hatton National Bank, People's Bank, Sampath Bank, Seylan Bank and they hold 78 percent of the banking assets and get total of 235 responses were collected from a questionnaire survey. In terms of findings, the results show that internal audit competence, is important predictors of fraud management. Also highlighted is that each financial service sector's concern about internal audit and forensic accounting is a value-added function of an organization and gives more attention to that area in the modern era. Researchers hope that their findings will add to the existing body of work and help close a knowledge gap in regards to emerging countries. The results are important for internal audit managers, internal audit policymakers to empower internal audit function in their organization.
Integrated Reporting Assurance: Perceptions of Auditors in Sri Lanka
(Department of Accountancy, University of Kelaniya, Sri Lanka., 2024) Sewwandi, W. D.; Herath, H. M. M. N.; Wijekoon, W. M. H. N.
The purpose of this paper is to identify the perceptions and differences in the perceptions between the auditors on the assurance service of integrated reporting in Sri Lankan context. This research mainly focuses on the importance of assuring the IR, form and content of an audit report on IR, challenges of assuring IR and future of the IR assurance. The population of the research consists of auditors who provide assurance services on Integrated Reporting in Sri Lanka. Two hundred questionnaires were sent to assurance experts through the emails generating 115 usable responses. The analysis is done using non-parametric statistics which is the Kruskal-Wallis test. Empirical results prove that it is necessary to have an external assurance on an entity’s integrated report and it is important to audit the complete content of integrated reporting. When comparing the auditors' perceptions based on their respective rankings, the results indicate that there is a noticeable difference in how auditors view the necessity of Integrated Reporting (IR) assurance and their opinions on the appropriate level of assurance. Limiting the study to a single jurisdiction is an inherent limitation. In this paper differences and similarities are evaluated based on only the rank of the assurance providers. The findings of this research could be valuable for the International Integrated Reporting Council, the International Auditing and Assurance Standards Board, and other regulatory agencies and useful for academics and practitioners interested in providing assurance on IR.