Answer to Question #243251 in Management for Saamith

Question

1. Discuss how financial reporting is regulated in Sri Lanka.

Answer 1

Regulation of Financial Reporting in Sri Lanka

            Every country requires regulation of financial reporting because the needs of the financial statements are encountered with the slightest or minimum information. In Sri Lanka, it is regulated by supplying investors and creditors with volumes of reliable data (Anuruddha & Mahanamahewa, 2020). The process helps them in making effective decisions and increases confidence in financial reporting among the users’.

Reference

Anuruddha, M. S., & Mahanamahewa, P. (2020). The Influence of Internal Controls on Public Financial Reporting Quality (PFRQ) in Sri Lanka; An Empirical Study. In Proceedings of International Conference on Business Management (Vol. 17). References