Symposia & Conferences

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    The Relationship between Dividend Policy and Share Price Volatility: A Comparison between the Sri Lankan Banking Sector and Diversified Financial
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Yasappriya, S.D.A.; Sujeewa, G.M.M.
    This study aimed to investigate how dividend policy affects the share price of the Sri Lankan banking sector and diversified financial markets for the period 2018–2022. This study mainly focuses on dividend decisions, as they are considered a significant factor in examining the share price volatility of a company. Shareholders’ wealth directly relates to the value of the firm, measured using the market price of shares. There are thirty (30) banks and sixty-six (66) diversified financial sector companies. The study is based on a sample of twelve (12) listed licensed commercial banks, two (2) listed licensed specialized banks under the banking sector, and the diversified financial sector, which selected eighteen (18) licensed finance companies considering market capitalization. This research used secondary data and data taken from the annual reports during the six years (2018–2022). The independent variables are dividend payout ratio, dividend yield, and dividend per share. The dependent variable is share price volatility. Panel data was used to analyze the impact of dividend policy on firms’ share price volatility in the Sri Lankan banking sector and the diversified financial sector. Dividend payout ratio, dividend yield, and dividend per share have a significant positive impact on share price volatility in the banking sector. Dividend payout ratio, dividend yield, and dividend per share have a significant positive impact on share price volatility in the diversified financial sector.
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    The Effect of Fraud Risk Management Practices on the Financial Performance of Commercial Banks in Sri Lanka
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Wijethilaka, B.D.N.; Gunasekara, U.L.T.P.
    This study examines the effect of fraud risk management practices on the financial performance of commercial banks in Sri Lanka. The sample consists of 24 licensed commercial banks in Sri Lanka. Primary was used for the study and multiple linear regression analysis was used to identify the effect of fraud risk management practices on the financial performance of commercial banks in Sri Lanka. Primary data was collected using structured questionnaire. The collected data was analyzed using the Statistical Package for Social Sciences (SPSS) version 23. Regression analysis was used to quantify the effect of the dependent variable and the independent variables. Financial performance of commercial banks became the dependent variable and fraud risk management practices as the independent variables. Fraud risk management practices measured by preventive, detective and Responsive. And also financial performance of commercial banks as measured by ROA. This study targeted Internal Audit officers and bank officers in the internal audit department of the Commercial Banks in Sri Lanka. The study is based on a sample of 110 Internal Audit officers and bank officers in the internal audit department. Out of the sample size 102 questionnaires were duly filled. The study concluded that there is a positive effect of fraud risk management practices on the financial performance of commercial banks in Sri Lanka. This implies that the concerted efforts in fraud prevention, detection, and response contribute to enhanced financial outcomes for these institutions. The findings underscore the importance of a holistic and proactive approach to fraud risk management in the banking sector. The identified practices not only serve to mitigate the impact of fraud but also positively influence the overall financial health of commercial banks.
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    The Impact of Key Audit Matters Reporting on Audit Quality: Special Reference to the Commercial Banks in Sri Lanka
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Wijesinghe, M.R.N.D.; Wijerathna, A.G.H.S.K.
    The concept of Key Audit Matters reporting has gained prominence in recent years to enhance transparency and improve the quality of financial reporting. Auditor experience enhances an audit's overall effectiveness, efficiency, and quality. When it comes concerning major audit issues, auditors' extensiveness of experience empowers them to focus on the most important issues, implement professional judgment, and communicate effectively with stakeholders, therefore improving the audit process and the ensuing financial statements' reliability. This research study examines the impact of Key Audit Matters reporting on audit quality specifically in the context of commercial banks operating in Sri Lanka. The existing literature shows both negative and positive impacts on the relationship between the Key Audit Matters reporting and Audit Quality and the current study is expected to examine this impact in the Sri Lankan context. The findings of this research are expected to shed light on the effectiveness of Key Audit Matters reporting as a tool to enhance audit quality within the commercial banking sector in Sri Lanka. This study identified Key Audit Matters that have a significant positive impact on audit quality. Further, the results may help regulators and standard-setting bodies in assessing the benefits and challenges associated with the implementation of Key Audit Matters reporting and may provide valuable insights for auditors and commercial banks in improving their reporting practices. Furthermore, this study contributes to the growing body of literature on audit quality and financial reporting transparency in emerging economies, particularly in the banking sector of Sri Lanka.
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    Effect of Accounting Information System Quality on Financial Performance of Small and Medium Enterprises: With Special Reference to Western Province in Sri Lanka
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Wijerathne, E.W.G.G.H.C.; Karunarathna, W.V.A.D.
    Information technology is crucial for every organization in the current competitive business world and Accounting Information Systems (AIS) play a major part in that information advancements. SMEs play a crucial role in all economies, irrespective of their development status. The objective of this study is to identify the Effect of Accounting Information System Quality on the Financial Performance of Small and Medium Enterprises in Sri Lanka. The quality of AIS is measured through the independent variables of System Flexibility, System Sophistication, Effectiveness of the System, and System Control. The Dependent variable of financial performance is measured through the Return of Assets of the selected SMEs. This study employed a convenience sampling technique to efficiently attain the desired sample size in a cost-effective and timely manner. The analysis was conducted by using the SPSS software and descriptive statistical measures, correlation analysis, and Linear regression analysis. According to the results of correlation analysis, there is a significant positive relationship between dependent and independent variables. The quality of AIS has a significant relationship with the financial performance of SMEs. Further results found that there is a significant effect of accounting information system quality on the financial performance of small and medium enterprises. That means quality AIS enhances financial performance. The Findings of the study revealed that system effectiveness and system control have a significant impact on financial performance as per the multiple regression analysis. Improving the financial performance of SMEs in Sri Lanka is facilitated by ensuring the excellence of AIS. SME management should additionally focus on improving the quality of their AIS to facilitate comparisons with similar businesses in the sector as well as in the past. This improvement is vital for benchmarking and making well-informed decisions.
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    Determinants of Online Banking Usage: With Special Reference to Customers of People’s Bank at Colombo District
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Wijerathna, D.C.D.; Perera, M.R.H.
    The Internet is now an essential part of people's modern life. Sri Lanka's banking and finance sector has benefited from the advancement of information technology by incorporating information and communication technology into its operations. However, Sri Lanka being a developing country has a lower internet banking usage rate than other developing and developed countries around the world. As a result, the researcher looks for variables that affect the percentage of people using Internet banking. The primary objective of this study is to investigate the factors that promote the use of Internet banking among the customers of People's Bank. Based on prior research, the investigators determined three key variables that influence the percentage of people who use online banking. These are safety, compatibility, and useful risk perceptions. The results of the analysis show a strong positive correlation between the previously mentioned factors and the percentage of people using Internet banking. The second objective is to investigate the current Internet banking usage rate among the customers of People's Bank. Data analysis shows that customers are currently using internet banking at a higher-than-average rate. As a result, the researcher concluded that Internet banking is currently high and not yet acceptable.
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    Factors Affecting Internal Audit Effectiveness: Empirical Evidence from Sri Lanka
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Wijegunawardhana, K.V.D.; Perera, M.R.H.
    The research explores factors affecting internal audit effectiveness: empirical evidence from Sri Lanka and the nexus between internal audit effectiveness among listed companies in Sri Lanka, shedding light on the empirical evidence surrounding factors influencing the effectiveness of internal audits within the Sri Lankan context. The sample comprises 354 internal auditors, utilizing primary data from internal auditors in Sri Lankan organizations. By sharing a questionnaire, this research inspects the relationships between various independent variables, including independence of internal audit, competence of internal auditor, management support for internal audit, and internal audit quality. This research delves into the intricacies of factors affecting the effectiveness of internal audits within Sri Lankan organizations listed on the Colombo Stock Exchange. The research's significance contextualizes it within Sri Lanka's developing economy and the global corporate landscape. Comprehensively reviews existing literature, laying the foundation for understanding the key variables examined in the subsequent chapters. The research methodology employs regression analysis to scrutinize variables such as the independence of internal auditors, competency, management support, and the quality of internal audit processes. The empirical evidence presented in Chapter 4 reveals significant findings, with the independence and competency of internal auditors emerging as crucial determinants of audit effectiveness. Management support and the quality of internal audit processes also play pivotal roles. Chapter 5 concludes the dissertation by discussing policy implications, emphasizing the potential impact on organizational practices and the broader economic climate in Sri Lanka. The chapter also suggests avenues for future research, including the influence of new technologies, cultural considerations, regulatory changes, ethical dimensions, and the role of internal audit in crisis management. In summary, this research contributes valuable insights to enhance the effectiveness of internal audits, providing a roadmap for organizational enhancement and adaptation in the dynamic business landscape of Sri Lanka.
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    Sustainable Reporting: An Analysis of Disclosure Practices of Companies in Sri Lanka: Evidence from the Beverage, Food, and Tobacco, Sector
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Wickramasinghe, R.G.D.M.; Munasinghe, M.A.T.K.
    The main aim of this study is to analyze the sustainability reporting disclosure practices by Beverage, Food, and Tobacco companies in Sri Lanka. In order to achieve this, aim this study analyzed the disclosure practices of 49 companies in the Beverage, Food, and Tobacco sector in Sri Lanka from 2018 to 2022. Data was obtained from the annual reports of the companies and the official website. To analyze the disclosure practices of selected companies were analyzed using GRI standards (2016) and the United Nations Sustainable Development Goals (UN SDGs). based on the findings of the study shows that the extent of sustainability reporting disclosures has significantly risen over the years applying advanced methods for presenting that sustainability information in annual reports. Even if sustainability reporting is a growing trend, there remains a lack of compliance with internationally recognized sustainability reporting guidelines. However, the study shows the lack of local regulatory frameworks and external assurance mechanisms in Sri Lanka which doubts the credibility and completeness of the information disclosed. This study suggests that providing more education and training for employees and executive-level personnel, especially those involved in preparing financial reports, and increasing the involvement of regulatory bodies and professional institutions is vital for overcoming these issues.
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    The Impact of Corporate Governance on Intellectual Capital Efficiency: Evidence from Sri Lankan Banking Sector
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Weerasinghe, I.K.H.N.; Tilakasiri, K.K.
    Corporate Governance (CG) and Intellectual Capital (IC) have emerged as critical considerations in contemporary entities, addressing challenges such as dispersed investor collective action and conflicts among corporate owners. This study aimed to evaluate the impact of Corporate Governance (CG) factors and Intellectual Capital (IC) efficiency in the Sri Lankan banking sector. According to the study, Board Size (BSIZE), Board Activity (BACT), Board Independence Composition (BIND), Audit Committee Size (AUDS), and Frequency of Audit Committee Meetings (AUDM) were used as independent variables in terms of Corporate Governance. Consequently, Intellectual Capital was taken as the dependent variable. For this purpose, all populations of banking sector companies except three banks are selected as samples for this study during the period 2018 – 2022. This research used secondary data, data taken from the financial reports, annual reports, and banking websites over the mentioned years. The relationship between Corporate Governance factors and Intellectual Capital efficiency is calculated under descriptive statistics and regression model. Research results suggest that there is a positive significant impact of corporate governance on intellectual capital efficiency.
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    The Impact of Audit Quality on Financial Reporting Quality: Evidence from Sri Lanka
    (Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2023) Weerasekara, W.A.P.S.; Bandara, R.M.S.
    The quality of the audit has been vital since accounting scandals like WorldCom, Enron, wire card scandals, and other risks have happened in the past. This is because auditors offer third-party assurance regarding the financial information of organizations. Then, Stakeholders mostly depend on the financial statements published by organizations when making decisions. As a result, stakeholders are becoming increasingly concerned regarding the accuracy of financial reporting. It is therefore necessary to examine every way in which audit quality affects the quality of financial reporting. Hence, this study mainly focuses on examining the impact of audit quality on the financial reporting quality of S&P Sri Lanka 20 index companies from 2013 to 2022. The sample of this study consisted of 15 non-financial companies, excluding the rest of the companies from the population due to their special nature. Further, this research used the data of companies’ annual reports, which were extracted from the CSE website. Audit firm size, audit firm tenure, and audit fees are used as surrogates for audit quality (AQ). While earnings management is a surrogate for financial reporting quality (FRQ), which is the dependent variable, FRQ is measured through discretionary accruals. Then, the Results provided that audit firm size (AFS) has an insignificant impact on financial reporting quality (FRQ), as it was not supported by my first hypothesis. However, audit firm tenure (AFT) has a significant negative impact on financial reporting quality (FRQ). Moreover, it recommends that to raise the FRQ, the AFT should not be exceeded for longer than three years. On the other hand, audit fees (AF) showed a significant positive impact on financial reporting quality (FRQ). It indicates that higher audit fees result in improved FRQ. Then, the results of this study help to improve investor trust in the decision-making process and give authorities guidance on where rules and regulations need to be updated.
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    Factors Affecting the Changes in Share Price in the Banking Sector of Sri Lanka
    (Wedikkara, T.H.; Wijerathne, A.G.S.H.K. (2023), Public Debt and Economic Growth: Comparison among Sri Lanka, India and Bangladesh, 9th International Conference Accounting Researchers & Educators (ICARE 2023), Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka. 118, 2023) Wedikkara, T.H.; Wijerathne, A.G.S.H.K.
    The banking sector in Sri Lanka is one of the most dynamic and vibrant sectors of the economy. It plays a crucial role in the country's financial system and economic development. The performance and changes in share prices within the banking sector are influenced by a multitude of internal and external factors. The purpose of this research is to identify the factors that affect the share prices in the banking sector of Sri Lanka and to determine the factor that mostly affects the share prices of the banking sector in Sri Lanka. A sample of 9 licensed commercial banks listed in the Colombo Stock Exchange were selected to conduct the study and the study covers the period from 2013 to 2022. As per the results of the study, the factors; of dividend yield, asset growth, debt-to-equity ratio and return on assets have a significant impact on the changes in the share price of commercial banks in Sri Lanka. Further, the liquidity coverage ratio and the capital adequacy ratio were identified to have an insignificant impact on the changes in the share prices of commercial banks in Sri Lanka. The findings of the study would help decision makers of the banks, potential investors, academics, and other stakeholders in making decisions including, profit allocation investment decisions, operating and strategic decisions. By understanding the factors that affect share prices, investors can better assess the risks and potential rewards of investing in Sri Lankan banks. The studies that have incorporated liquidity coverage ratio and capital adequacy ratio are rare to find. Therefore, this study provides a novel contribution to the literature.