Browsing by Author "Vidanage, K. R."

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Issues and challenges in IFRS adoption: Perceptions of the Professional Accountants in Sri Lanka
(Department of Accountancy, University of Kelaniya, Sri Lanka., 2023) Vidanage, K. R.; Rajakaruna, I. R. H. M. T. P.; Kumari, J. S.
This study mainly focused on identifying the IFRS adoption issues and challenges in the perception of Sri Lankan professional accountants. Professional Accountants face many obstacles when adopting the IFRS and identifying those issues and challenges and finding significant factors for them is mainly focused on his study. This study directly identifies what are the issues and challenges faced by Sri Lankan Professional Accountants and how the Accountants’ perception of issues and challenges are varied with the geometric characteristics. The quantitative research approach was used in the study and the questionnaire survey method was used to collect data from the Professional Accountants. The study used the convenience sampling technique to identify the sample for the study while ensuring representativeness. The sample size was 200 accountants. The Likert scale questionnaire was based on the literature and expert opinion on Sri Lankan IFRS adoption issues and challenges. To identify the major issues & challenges faced when adopting the IFRSs in the perceptions of professional accountants and identify the difference in perceptions on IFRS adoption issues and challenges of Accountants based on demographic characteristics Descriptive statistics and independent t – tests have been used. The study's findings particularly demonstrated that the accountants recognized every problem except one as having an impact on their work. A number of demographic factors were also examined, including gender, experience level, highest academic degree earned, professional certifications, and the sector. The study addresses the research gap in understanding the problems with IFRS adoption in Sri Lanka while offering useful insights for policymakers.
The Level of Effective Internal Control System of Licensed Commercial Banks in Anuradhapura District of Sri Lanka: A Comparative Study
(Department of Accountancy, University of Kelaniya, Sri Lanka., 2021) Vidanage, K. R.; Kumari, J. S.
Globalization has resulted in complex business procedures and activities as a result of global organizations. In the case of banking sector procedures, complicated banking transactions and an increase in banking activity fraud have prompted a focus on the Banking Sector's Internal Control System. Every organization relies on an effective Internal Control System. Accordingly, the purpose of this research is to examine and compare the level of effective internal control systems of state-owned and private domestic commercial banks in the Anuradhapura district. The level of effectiveness of the Internal Control System was assessed using the five components of the Committee of Sponsoring Organizations (COSO) framework (Control Environment, Risk Assessment, Information and Communication System, Control Activities, and Monitoring Activities). Structured questionnaires were used to collect data from fifty respondents from state-owned and thirty respondents from private domestic commercial banks, respectively. Managers (76.25 percent response rate) and secondary officers were the most common respondents (response rate was 23.75 percent). Descriptive analysis with one-sample t-test and independent sample t-test were used to analyze the data. The results of the study indicated that the level of the effective control environment, information and communication systems, and control activities are different between State- Owned and Private Domestic Commercial Banks in Anuradhapura district, whereas the level of effective risk assessment and monitoring activities are not different between State-Owned and Private Domestic Commercial Banks in Anuradhapura district. The findings of this study will help practitioners as a guideline to get the maximum benefit of their Internal Control System.