Accountancy
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Item Challenges and Barriers to Digital Transformation in Sri Lankan Government Organisations: Managers’ Perceptions(Faculty of Management Studies and Commerce, University of Sri Jayewardenepura, Sri Lanka., 2025) Aruppala, D.; Gunawardana, K.; Razi, M. J. M.Despite facing significant challenges, the Sri Lankan government actively supports digitising its organisations, recognising its potential to enhance governance, optimise operations, and improve citizen services. This study investigates the key challenges and barriers hindering the effective implementation and adoption of digital transformation in Sri Lankan government organisations. This research analyses the perspectives of 147 managers working on digital transformation projects and information technology departments at different government organisations. Data is collected using a structured survey questionnaire, and analysed through SPSS, employing demographic analysis and frequency analysis to identify significant challenges and barriers. The study employed the Technology, Organisation, and Environment (TOE) framework, to categorise technological, organisational, and environmental factors that hinder digital transformation in the public sector. The findings reveal inadequate communication, high costs, insufficient digital skills, employee resistance, absence of a digital-centric organisational culture, system integration issues and insufficient regulatory frameworks as main barriers to digital transformation. However, despite all the challenges managers hold a largely positive view on digital transformation by acknowledging improvements in organisational efficiency and effectiveness. Managing these challenges, Sri Lankan government organisations can leverage emerging technologies to enhance public sector efficiency and productivity, to achieve sustainable digital transformation ultimately driving operational excellence.Item Interrelationships Between Non-Financial Perspectives of Balanced Scorecard: Evidence from Sri Lankan Public Listed Companies(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, 2024) Perera, P.R.M.R.; Kariyawasam, A.H.N.The objective of this study is to examine the interrelationship among the non-financial perspectives of the Balanced Scorecard. Out of 285 PLCs listed, 102 PLCs in the Colombo Stock Exchange; Sri Lanka have responded in this study and data collected with a standard questionnaire. Respondents were from the managerial capacity of the companies. The questionnaire captures all aspects that construct each non-financial perspective of the Balanced Scorecard using 5-point Likert scale. Two factors under each non-financial perspective, totaling to six factors were found through a factor analysis and the factors were used in finding the interrelationship between non-financial perspectives. Results reveal that the learning and growth perspective has a relationship with the internal business process perspective where both internal oriented learning and external oriented learning are highly correlated with collaborative process efficiency. The relationship between internal business process perspective and customer perspective is evidenced by the strong correlation that customer satisfaction has with both product delivery process efficiency and collaborative process efficiency. Learning and growth perspective reveals a relationship with the customer perspective having internal oriented learning strongly correlated with customer satisfaction. This study contributes to the body of knowledge by confirming the underlying assumption in the Balanced Scorecard and notifying firms that have or haven’t adopted the Balanced Scorecard approach with a general conclusion to focus on the non-financial perspectives by understanding the interrelationship between them.Item Impact of Corporate Governance on Intellectual Capital Efficiency - Evidence from Sri Lankan Banking Sector(Journal of Accountancy and Finance, 2024) Weerasinghe, I.K.H.N.; Thilakasiri, K. K.The study explores the intricate link between Corporate Governance (CG) factors and Intellectual Capital (IC) efficiency within the Sri Lankan banking sector. It delves into the impact of variables such as Board Size (BSIZE), Board Activity (BACT), Board Independence Composition (BIND), Audit Committee Size (AUDS), and Frequency of Audit Committee Meeting (AUDM) on Intellectual Capital, treating the latter as the dependent variable. For the five years between 2018 and 2022, the research technique comprises a thorough investigation of banking sector company in Sri Lanka, excluding three banks. The goal of the study is to obtain understanding of the connection between CG variables and IC efficiency through secondary data analysis using data from stock market transactions and audited financial statements. The main analytical tools are descriptive statistics and regression modeling, which enable a detailed comprehension of the relationship between CG dynamics and IC efficiency. Through a detailed examination of these variables across time and across different financial institutions, the study seeks to illuminate the ways in which CG practices impact the creation and application of IC in the banking industry. In the conclusion, the results of this study are important not only for scholars but also for professionals and decision-makers in the banking sector in Sri Lanka. The study provides significant insights that can guide strategic decision-making, governance reforms, and resource allocation within banking institutions, ultimately leading to improved organizational efficiency and long-term sustainability. This is achieved by revealing the complex relationships between Corporate Governance and Intellectual Capital.Item Audit Expectation Gap: A Comparative Literature Analysis of Private Sector and Public Sector(Department of Business Management Wayamba University of Sri Lanka, 2023) Deepal, A.G.; Jayamaha, A.The Audit Expectation Gap (AEG) issues are steadily expanding around the globe, irrespective of the particular sector involved. A comparative analysis will be more crucial for the AEG literature since the significance of the expectation concerns stems from the concepts of "stewardship and public accountability", which are applicable to audits in both private and public sectors. Thus, the purpose of this study is to analyze the similarities and distinctions between the AEG studies conducted pertaining to the private and public sectors. This research is directed by theoretical considerations and arrives at conclusions based on the extant literature. An exhaustive search of the published literature was conducted by applying the search terms “expectation gap” and “audit expectation gap” combined with “public sector”, “government sector” and “performance audit” in the Google Scholar search engine and three databases of Scopus, Jstor, and Emerald were performed separately and independently for each sector from 1970 to 2022. Thus, only the articles published in reputable journals concerning the AEG were selected after applying some selection criteria. It was found that the research contexts, selected target populations, and the dimensions applied to assess AEG were found to be significantly different, despite the fact that the definitions and statistical techniques used were found to be comparable in both sectors. This comparison study opens up a wealth of doors for conducting further research in the future.Item Unconscious Gender bias Among Seafarers: A Review of the Theoretical Literature(Pomorstvo, 2024) Karunatilleke, A.W.; Herath, H.M.R.P.; Gunasekara, U.L.T.P.This systematic literature review explores the concept of unconscious gender bias within the maritime industry, focusing specifically on seafarers. Unconscious bias refers to implicit stereotypes and attitudes that influence decision-making processes without conscious awareness. In the context of seafaring, where diverse crews operate in confined spaces for extended periods, understanding and addressing unconscious bias becomes crucial for fostering inclusive and harmonious shipboard environments and mitigating gender bias. The review begins by examining theoretical frameworks related to unconscious bias, drawing from psychological, organizational behavior, and maritime literature. Various models, such as the Implicit Association Test (IAT) and social cognitive theories, are explored to provide a foundation for understanding how biases develop and manifest among seafaring populations. The maritime industry’s unique characteristics, including hierarchical structures, cultural diversity, and isolation during voyages, are analyzed to identify specific factors that may contribute to the emergence of unconscious biases. Additionally, the review delves into studies addressing the impact of biases on decision-making, communication, and overall team dynamics within the maritime context. Furthermore, the review explores interventions and best practices proposed in the literature to mitigate unconscious bias among seafarers. Training programs, diversity initiatives, and cultural awareness campaigns are examined for their effectiveness in promoting a more inclusive and equitable maritime workplace. Based on this review, we conceptualize unconscious gender bias as a socio-technical problem and propose a theoretical framework that offers a combination of technological, organizational, and societal approaches as well as three main propositions to possibly mitigate the biased effects. Lastly, this paper considers future research on the management of unconscious gender bias in the organizational context.Item The Effects of Occupational Stress on the Job Performance of Police Officers in Sri Lanka(Srusti Management Review, 2023) Ratnayake, S.B.D.C.; Gunasekara, U.L.T.P.Stress is common and general among the people in the world. It is experienced by every person physically and mentally in their day-to-day life. Hence, Policing is widely considered to be one of the most stressful occupations, wherein organizational and operational stressors put law enforcement officer’s physical and mental health at risk. Occupational stress badly affects performance, and many studies revealed that the level of stress experienced differs with the type of job. Accordingly, this research paper demonstrates how Police Officers experienced occupational stress and its impact on their performance. This study is a mixed method study using quantitative data gathered from a questionnaire and qualitative data from five in-depth interviews. A sample of 110 police officers from other ranks was taken from the central province of Sri Lanka. Findings showed that lack of resources mainly influenced police performance. In contrast with previous empirical work, the findings demonstrate that operational issues and less career growth have an adverse influence on police performance. This study has drawn the linkage between organizational stressors, operational stressors and police performance of other rank officers in the Sri Lanka context. This research was based on the data of central province officers only is a limitation. Also, the findings are limited to the other ranking officers and therefore future research directions could be focused to the inspectorate officers, senior gazetted officers.Item The Role of Whistleblowers in Detecting and Preventing Employee Fraud in Licensed Commercial Banks in Sri Lanka: A Qualitative Study(International Journal of Innovative Science and Research Technology, 2024) Fahra, M.F.F.; Gunasekare, U.L.T.P.The research on employee fraud within licensed commercial banks in Sri Lanka focused on assessing the perceived effectiveness of whistleblowing, identifying motivational factors, and exploring challenges faced by whistleblowers. The Qualitative thematic analysis was used to analyze data collected through in-depth interviews with 21 executives from 7 licensed commercial banks. The findings of the research indicated that while there is a high perceived effectiveness of whistleblowing, there are areas that require improvement in whistleblowing policies, reporting mechanisms, rewards, support, and recognition provided to whistleblowers. The interviews also revealed a need to enhance employee awareness regarding whistleblowing. The research serves as a reflection of the current state of whistleblowing in Sri Lankan banks. It highlights the importance of strengthening and fortifying the whistleblowing system for the future. The key lessons learned emphasize the shared responsibility of organizations, regulators, and society in creating an environment where whistleblowers are not only recognized but celebrated for their crucial role in combating fraud. The research concludes with a call to make whistleblowing more than just an act of bravery but to celebrate and support it as an integral part of ensuring the integrity of banking systems.Item Financial Management Practices and Small and Medium-scale Enterprises' Performance in Sri Lanka(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2024) Sandaruwandi, S.V.C.; Panditharathna, K.M,; Rathnayake, S.S.Small and Medium-scale Enterprises (SMEs) add value to an economy by creating employment, contributing to Gross Domestic Production (GDP), making innovations, and minimising poverty. They are partnering with the development of the country. Most small and medium-scale enterprises face issues like lack of knowledge, outdated skills, fear of taxation, adoption of accounting standards, and accounting information records. Therefore, this study aims to identify the relationship between financial management practices and SMEs' performance in the southern province of Sri Lanka. This study measures financial management practices using financial reporting analysis, working capital management, fixed asset management, and accounting information systems. SME performance was measured by the profitability of SMEs using return on assets. Considering data constraints, time constraints, and the COVID-19 situation, 107 Small and Medium Enterprises operating in the manufacturing and service sectors were selected as samples. A questionnaire was chosen as the primary data-gathering method. The sample was chosen using a convenience sampling procedure, and the data were analysed using the Statistical Package for Social Scientists (SPSS) software. Multiple regression analysis was done to examine the hypothetical association. This study found that financial management techniques such as fixed asset management, working capital management, accounting information systems, and financial performance of SMEs have a significant association with performance. The findings support aiding investors, workers, and policymakers in making effective decisions.Item The impact of remote work on employee job satisfaction and well-being: a post-covid-19 pandemic quantitative study on the banking industry in sri lanka(Department of Banking & Finance Wayamba University of Sri Lanka, 2024) Perera, G.S.P.; Tilakasiri, K KRemote work systems have been introduced to the world due to the pandemic by the WHO in 2019. With this new system, the lives of people changed a lot and different industries introduced this differently. The banking industry has encountered obstacles and prompted firms to use remote working methods. The main objective of this study was to examine the impact of remote working on employee Job satisfaction and well-being within the banking industry in Sri Lanka in the post-COVID-19 period. The study uses primary data to answer the research problem from 210 respondents in different banks in the Colombo district in Sri Lanka. The deductive approach was used to investigate the relationship between the variables and the purposive sampling technique was used for selecting the respondents. Survey strategy was used to collect data and collected data were analyzed using SPSS software, employing descriptive Analysis and inferential Statistical techniques to analyze the data and figure out the results of the research study objectives. Data Analysis is divided into five parts to analyze the results obtained. It includes Descriptive statistics, reliability analysis, correlation analysis, Regression analysis, and hypothesis testing. The results showed that there is a positive relationship between Infrastructure facilities, Work-life integration, Organisational Support, Organisational Culture, and Leadership with Employee job satisfaction and well-being. The findings of this study are extremely beneficial insights to understanding challenges faced by remote working employees in the banking sector in Sri Lanka and the recommendations that are provided aim to assist employees in overcoming these challenges.Item Unveiling the impact of foreign competition on the bond market: Insights from S&P debt ratings(Elesvier, 2024) Lasantha, Ruwan; Tawiah, Vincent; Atif, Muhammad; Puwanenthiren, Prem; Nadarajah, SivathaasanThis study investigates the influence of foreign competition on U.S. firms’ debt ratings. The findings reveal a significant downgrade in ratings with increased foreign competition, in particular affecting firms with prospector strategies, low organizational capital, high information asymmetry, weak governance, and reshaping creditworthiness assessment.