ICARE 2018

Permanent URI for this collectionhttp://repository.kln.ac.lk/handle/123456789/19607

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Author: search.filters.author.Perera, H.A.P.L.Subject: search.filters.subject.Sri Lanka

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    The Utilization of Generalized Audit Software (GAS) by Sri Lankan External Auditors
    (4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Senarathne, G.R.S.D.; Perera, H.A.P.L.
    Generalized audit software is a tool used by auditors to automate various audit tasks. As most accounting transactions are now computerized, auditing of accounting data is also expected to be computerized as well. The purpose of this study is to investigate the utilization of generalized audit software by external auditors in Sri Lanka and what are the factors influenced the use of generalized audit software. This study carried out using a standard questionnaire which consists of mainly five parts. The sample of the study was auditors of five international audit firms and five local audit firms. 100 questionnaires have been distributed to auditors and out of all, 70 responses were received from the selected sample, 40 from international audit firms and 30 from local audit firms. The collected data have analyzed using the Statistical Package for Social Science (SPSS) software. According to the findings of the research, the utilization of generalized audit software is low among local audit firms and all the international firms use generalized audit software. Organizational factors, technological factors, client factors and personal factors influence to the usage of generalized audit software and audit profession factor not influence to utilization of audit software. This will provide useful insights for audit professionals, software developers, vendors, academicians and researchers
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    Information Technology and its Implication on Internal Auditing in Sri Lankan Companies
    (4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Udayangani, M.A.S.; Perera, H.A.P.L.
    Information Technology (IT) is a very much important function in designing, implementing and directing many controls over the organizations’ business processes. Currently both internal & external auditing processes are rapidly changing and one of the main reasons is the changes in IT. This study aims to find the impact of IT and its implications on Internal Auditing. Further, the study examines the influence from Objectives and the Organizational Characteristics on the IT Evaluations performed in Sri Lankan companies. IT Evaluations, Objectives and Organization Characteristics were used as independent variables and IT Evaluation categories were used as the dependent variable. This study carried out using a standard questionnaire which consists of mainly four parts. 100 questionnaires were distributed to companies representing manufacturing, service, banks and hotel sector using the cluster sampling method. Data received from 80 respondents representing all sectors. Data were analyzed using the Statistical Package for Social Science (SPSS). According to the results of the study, internal auditors mainly focus on traditional risk such as IT data integrity, asset safeguarding, privacy and security and less attention has given to system development and acquisition
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    The Impact of Internal Corporate Governance on Convergence of IFRS: Evidence from Sri Lanka
    (4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Harshana, R.D.U.; Perera, H.A.P.L.
    The convergence of International Accounting Standards (IAS) with International Financial Reporting Standards (IFRS) is an important debate among standards setters, policy makers, regulators, professional bodies and companies worldwide. The objective of this research is to examine the impact of internal corporate governance on convergence of International Financial Reporting Standards (IFRS) and to measure the impact of individual corporate governance factors to the convergence of IFRS. Changes of equity during the year were used as the dependent variable of the model and no of financial and non-financial variables were used as independent variables. Financial and non-financial data were collected from annual reports published by the listed manufacturing companies in Colombo Stock Exchange (CSE) during the period of 2009 to 2015. This six (6) year period was divided into two categories as before and after convergence of IFRS. All the manufacturing sector companies were selected as the sample of the research. Due to the unavailability of data, there were 29 companies used for the final analysis. Panel data regression was used to analyze data using E-views software. The results of the study revealed that, effective internal corporate governance mechanism helps companies more aligned with convergence of local accounting standards to IFRS and thereby provide high quality financial information to users of the information