Browsing by Author "Dissanayake, W.G.P.K."

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Affect of internal audit on firms performance
(Department of Accountancy, University of Kelaniya, 2015) Dissanayake, W.G.P.K.
This study attempt to evaluate the relationships between the internal audits characteristics such as professional qualifications of the chief audit executive of the Internal Audit, size, experience, and qualification; and firm performance. The internal audit is deemed as the core of business accounting as it is the section that keeps track of all businesses associated with the sector. The Objective of this research to identify relationship between Internal Audit and Performance of Sri Lankan Organizations. The internal audit efficiency assists in developing the company’s work because the financial reports present the internal audit department’s quality. In addition, an internal audit is a crucial part of corporate governance structure in an organization and corporate governance covers the activities of oversight conducted by the board of directors and audit committees to ensure credible financial reporting process. This study provides comprehensive oversights on the relationship between internal audit and firm performance.
Impact of Audit Committee Characteristics on Financial Performance of Listed Finance Companies in Sri Lanka
(Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2016) Dissanayake, W.G.P.K.; Bandara, R.M.S.
An audit committee is an operating committee of a company's board of directors and it is a compulsory requirement for Sri Lankan listed companies according to the ‘Code of best practices on corporate governance’ published by the Institute of Chartered Accountants of Sri Lanka and Security and Exchange Commission of Sri Lanka. This study was attempt to find out the relationship between the audit committee characteristics such as Size of the Audit Committee, Independence of the Audit Committee, Audit Committee Meeting Frequency, Financial Literacy of Audit Committee Members and financial performance measured by the Return on Assets and Return on Equity of Sri Lankan finance companies. Twenty listed finance companies were selected as sample for the period of 2012 to 2016. Descriptive statistics, correlation analysis and multiple regression analysis were used to analyze the data. According to the analysis, audit committee independence and audit committee financial literacy showed a significant positive relationship with firms’ financial performance. Audit committee meeting frequency significantly related only with financial performance indicator of ROE. However audit committee size did not have significant relationship with firm performance. The results is beneficial to shareholders and companies’ board to make appropriate decisions about audit committee characteristics to enhance firm financial performanc