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Environmental risks (ERs) are critical to any highway construction project (HCP). One of the main contracting parties responsible for ERs is the contractor. Hence, it has been crucial to look into ways to control ERs in HCPs from the contractor’s perspective. This study aims to investigate how ERs can be managed in HCP in Sri Lanka.

A quantitative research approach with three rounds of Delphi was used. Statistical techniques were used to analyse and validate the ERs, the parties to whom the risks were to be allocated, and risk management measures identified from the empirical data collection.

The study reveals the 11 most significant ERs for HCP. Further, the most significant ERs in HCP were mainly found to be the responsibility of contractors in Sri Lanka. Twenty-four most appropriate risk response measures were determined; 13 were found to be common measures that could be used to manage two or more risks, while the remaining 11 were unique to specific risks.

Overall, this research determines the most significant ERs in HCP, the best risk allocation among the parties and appropriate risk-handling strategies and measures for each significant ERs. Additionally, the study addresses the demand for ERs management in HCP.

One prominent force behind sustainable growth is the growth of smart cities. Governments worldwide are beginning to concentrate on the Smart City System (SCS) towards a sustainable future. The construction sector plays a significant role in the development projects for smart cities. Hence, paying attention to research initiatives for smart cities is necessary because of the need for cooperation between the construction industry and SCS in developing countries. The purpose of this study is to explore the impact of the SCS on the construction industry in Sri Lanka.

This study used a mixed approach comprising a series of expert interviews and two rounds of a questionnaire survey. Content and statistical analyses were used to analyse and validate the empirical data collected during the study.

The five most significant smart city elements affecting the construction industry were identified: technology and information technology infrastructure, environment, people, economy and governance, along with 15 significant enablers and 17 significant barriers of those smart city elements. Further, 18 significant strategies that can be adopted to overcome the barriers and enhance the enablers of those smart city elements were identified.

This study’s findings reveal that the synergy between the construction industry and the SCS would be a valuable reference for future studies in similar contexts. The construction industry in Sri Lanka will also benefit from the study findings, as the findings would help to improve the link between construction and smart cities. This study significantly benefits the society by revealing cost-effective ways to accelerate construction processes and develop cities sustainably.

Delays in utility shifting during road construction have broad ramifications. These delays not only lengthen the project's timeline but also raise expenses and cause problems with resource allocation. Thus, this study investigates the influence of delay in utility shifting for extension of time claims in road construction projects (RCPs) in Sri Lanka.

The study used a quantitative approach with three rounds of Delphi surveys to gather empirical data. Further, the probability impact assessment was used to carefully analyse the data and appraise the information gathered.

The findings initially revealed 33 causes of delays in utility shifting for extension of time claims in RCPs in Sri Lanka. Ultimately, 11 severe causes were identified based on their high probability and impact, concluding with 45 strategies that were assigned to overcoming those most severe causes of delay.

This study will contribute to the industry and theory by providing solutions to handle utility-shifting delays with the linkage of preventing time extension claims for RCPs in Sri Lanka. Further, there is a dearth of literature in the research area, both locally and globally. Thus, the findings of this research will provide a benchmark for further detailed studies in other countries as well.

Purpose: The study aims to explore the wider acceptance of blockchain technology and growing faith in this technology among all business domains to mitigate the chances of fraud in various sectors.

Design/Methodology/Approach: The authors focus on studies conducted during 2015–2022 using keywords such as blockchain, fraud detection and financial domain for Systematic Literature Review (SLR). The SLR approach entails two databases, namely, Scopus and IEEE Xplore, to seek relevant articles covering the effectiveness of blockchain technology in controlling financial fraud.

Findings: The findings of the research explored different types of business domains using blockchains in detecting fraud. They examined their effectiveness in other sectors such as insurance, banks, online transactions, real estate, credit card usage, etc.

Practical Implications: The results of this research highlight (1) the real-life applications of blockchain technology to secure the gateway for online transactions; (2) people from diverse backgrounds with different business objectives can strongly rely on blockchains to prevent fraud.

Originality/Value: The SLR conducted in this study assists in the identification of future avenues with practical implications, making researchers aware of the work so far carried out for checking the effectiveness of blockchain; however, it does not ignore the possibility of zero to less effectiveness in some businesses which is yet to be explored.

Coastal land reclamation (CLR) projects have become an effective solution for population growth while creating new market areas and expanding revenue streams. Although a few studies have been conducted on risk management in CLR projects, they had very little prioritisation on financial and economic risk management. Thus, this study aims to manage the financial and economic risks of CLR projects.

A quantitative research approach consisting of three Delphi rounds was adopted for this study. The findings of this study were analysed and validated using statistical tools.

This study identified 13 significant financial and economic risk factors in CLR projects, among which poor quality of the sand and soil, delays in making payments, unpredictability of the safety and security of the country and high dredging volumes were the most significant. Most of these risks have to be borne by the client and the contractor. Conducting environmental impact studies, following quality control procedures and increasing social awareness are significant strategies to handle the financial and economic risks of CLR projects.

This study addresses the literature gap pertaining to financial and economic risk management in CLR projects by identifying its overall process, including the identification of significant financial and economic risks based on the severity levels; risk allocation among the client, contractor and consultant; and suitable risk handling strategies for each significant financial and economic risk factor. Moreover, the findings of this study can be used to effectively deal with financial and economic risks in CLR projects while raising society’s awareness.

This paper aims to determine how forensic accounting contributes to fraud detection and prevention and answer the following research questions: What are the standard techniques for fraud detection and prevention; and What are the significant challenges that hinder the application of forensic accounting in fraud prevention and detection?

The authors use the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) method to carry out a systematic literature review (SLR) to identify and assess the existing literature on forensic accounting.

There exists a positive correlation between forensic accounting and fraud detection and prevention. Moreover, in both the empirical and non-empirical findings, the authors note that fraud is complex, and in carrying out fraud investigations, one must be aware of its complexity.

Although drug counterfeiting is a sector where forensic accountants have paid less attention, it is a rapidly expanding fraud area. This paper finds that to detect fraud at an early stage, one must increase consumer understanding of basic forensic accounting techniques by implementing accurate supply chain monitoring systems and inventory management controls and conducting adequate and effective regulatory, honest and legitimate customs inspections.

The major factors that restrict forensic accounting are a lack of awareness and education. Hence, it is essential to incorporate forensic accounting in undergraduate and post-graduate courses.

From the existing literature, it has been observed that very few studies have been conducted in this field using the PRISMA and SLR techniques. Also, the authors carried out a holistic study that focuses on three different areas – fraud detection, fraud prevention and the challenges in forensic accounting.

This paper aims to examine differential perceptions of lenders and investors on (1) the use, perceived usefulness, importance and adequacy of annual reports, (2) the importance of qualitative characteristics (QCs) and (3) the perceived impact of International Financial Reporting Standards (IFRS) on financial reporting quality (FRQ) in Sri Lanka.

A questionnaire survey study of practising professionals consisting of Sri Lankan investors (N = 214) and lenders (N = 235).

In relation to (1), lenders and investors rank three out of ten information sources ahead of the remaining seven: both include annual reports and personal knowledge. However, the highest average response for lenders is direct communication with clients, and for investors, it is stock market publications. Within annual reports, both decision-makers identify financial statements as the most useful part. Concerning (2), they both identified understandability as the most important QC followed by timeliness. Relevance ranked last, surprisingly. In relation to (3), both groups perceived that the new IFRS reporting environment improved the FRQ compared to the previous Sri Lanka Accounting Standards regime.

Ranking understandability as the most important QC in terms of decision usefulness contradicts IASB's categorisation. The authors provide empirical data on the perceived degree of success of adopting IFRS in a developing economy.

The authors design a decision-oriented (lending vs investing) and context-specific (IASB's financial reporting framework) questionnaire to examine the perceptions of key capital providers separately on the issues mentioned above in “Purpose” within a developing economy. The survey fits into two aspects of the decision-useful theory: useful to make what decisions and useful to whom.

During the 1990s the value to an intending professional accountant of undertaking a period of liberal (general) studies was promoted internationally by a number of individuals and organisations, including the International Federation of Accountants (IFAC) and the New Zealand Institute of Chartered Accountants (the “Institute”). The Institute significantly changed its admissions policy for Chartered Accountants in 1996 and one change was to require four years of degree level study with a compulsory liberal studies component. This study surveys the perceptions of New Zealand accounting practitioners on the impact of this compulsory liberal component. The results of this study demonstrate that there is little support from accounting practitioners for IFAC’s claim that liberal education “can contribute significantly to the acquisition of professional skills”, including intellectual, personal and communication skills. In addition, the majority of respondents did not perceive any improvements in the professional skills of the staff that had qualified under the Institute’s current admissions policy. However, any perceived improvements were mainly attributed to the Institute’s admissions policy change. Notwithstanding the lack of support for the assertion that liberal education develops professional skills, there is a strong belief by respondents in the value of liberal education for intending professional accountants.