PurposeDigital inequality is considered one of the leading causes of socioeconomic disparities nowadays and a barrier to sustainable development. However, a dearth of empirical research has examined the impact of digital inequality in attaining sustainable development. This study aims to systematically review the scientific publications on the impact of digital inequality in achieving sustainable development.Design/methodology/approachThe preferred reporting items for systematic reviews and meta-analyses (PRISMA, 2020) guidelines were followed to carry out the systematic literature review (SLR) using Scopus, Web of Science, ProQuest and Google Scholar electronic databases. Numerous inclusion/exclusion criteria were employed to obtain the most relevant literature. Finally, 54 articles were included to prepare the final database and qualitative synthesis was performed using 12 variables.FindingsWhile the findings show that there has been a substantial expansion of scientific publications on the focused area in recent years, there is still a lack of empirical and comparative studies; less focus on the offline benefits of online activities were also demonstrated by the results. Moreover, SDGs 04 and 05 were identified as the predominant goals in the literature. Findings further highlighted the importance of an accurate conceptualization of digital inequality.Originality/valueIn general, this study investigates the level of impact of digital inequality on the United Nations' Sustainable Development Goals. Moreover, it shows the evolution of scientific publications on digital inequality in terms of its contribution when achieving sustainable development.
Many empirical studies have been carried out both in the developed and developing economies to test the presence of anomalies in stock returns and volatility. The most commonly tested seasonal anomalies are day of the week effect, month of the year effect, holiday effect, Monday effect and Friday effect. Previous studies strongly support the existence of seasonal anomalies. Existence of seasonal anomalies let the investors to earn abnormal returns by trading on past information. This study attempts to test whether the day of the week effect is present in the stock returns of the Colombo Stock Exchange. For this purpose, stock returns based on ASPI for the period of 2002 to 2011 with 2390 observation are taken into account. The day of the week effect hypothesis is tested using both OLS model and GARCH (1,1) model. The research provides strong evidence to support the day of the week effect. Furthermore, there is a Thursday, Wednesday and Friday effect in the stock returns. Thus, investors can earn abnormal returns by trading on a strategy based on past information. It is recommended to buy stock on Mondays and Tuesdays and sell them on Wednesdays, Thursdays and Fridays to earn abnormal returns.
The quality of the audit plays an important role in the financial markets as a factor which creates the investor confidence is auditor’s opinion on the financial statements. Number of companies collapsed globally and as well as locally as a result of allegations made by employees of those companies. However, the audit report of these companies did not address any problems which were existed in the companies. Therefore, it is questionable whether the quality of audits is achieved. A standardized audit quality framework does not exist in Sri Lanka to measure audit quality. The Institute of Chartered Accountants of Sri Lanka (ICASL) has issued Sri Lanka Standard on Quality Control (SLSQC) to maintain the audit quality in Sri Lanka. However, it is not sufficient to measure the audit quality. In most of the developed countries, a separate audit quality framework exists as a guide to measure the audit quality. In the absence of such a framework, this study is aimed at examining the perception of junior level auditors on the audit quality indicators and how they prioritize audit quality indicators in order to enhance the audit quality. In order to achieve this objective, a questionnaire was developed and distributed among 120 junior-level auditors who work at Audit Firms in Sri Lanka. A total of 76 responses were able to obtain. The data was analysed using descriptive statistics. As per the results of this study, the factor which has a significant effect on the audit quality is the mental/ psychical status of the auditor. Moreover, the results also suggest audit engagements carried out based on the ethical standard rather than based on the legal standard has an effect on increasing the quality of the audits performed. Further, the perception of the junior level auditors differs based on the gender, academic qualifications and position in the firm for certain audit quality indicators. Based on the results of this study it can be recommended to adopt a new audit quality framework by the government relevant governing bodies to enhance the audit quality in Sri Lanka. Keywords: Auditors, Audit Quality, Perception, Sri Lanka
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