Abstract
The period from a company's fiscal year-end date to the audit report date is defined as the Audit Report Lag (ARL). The shorter the ARL in releasing audited financial statements, the greater the usefulness and benefits that users can derive from these statements. The purpose of this research is to investigate the impact of company characteristics and IFRS adoption on audit delay in Sri Lankan manufacturing companies, listed in Colombo Stock Exchange (CSE). Accordingly, the current study investigated the influence of corporate size, audit firm statues, CEO duality, ownership concentration, ownership dispersion, board size and IFRS adoption on audit report lag. The data for the study collected from annual audited financial statements of all the listed manufacturing companies of CSE. Data for the period of nine years from 2008/2009 financial year to 2016/2017 financial year are collected. Based on the regression estimate obtained, the study concludes that the audit report delay is significantly influenced by corporate size, audit firm statues, board size and IFRS adoption while CEO duality, ownership concentration, ownership dispersion, and audit complexity have reported an insignificant impact on audit report lag.
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