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The purpose of this study is to examine the impact of key audit matters (KAMs) on the timeliness of financial statement reporting, measured as audit report lag (ARL), within the context of Kuwait's evolving financial market.

Using a sample of 136 unique firms and 841 firm-year observations over the period 2016–2022, the study employs a random effects model on a panel data set to examine the correlation between the number and type of KAMs disclosed in audit reports and the length of ARL. In addition, we employ sub-sample analysis and two-stage least squares (2SLS) regression to enhance overall reliability.

The results indicate a positive relationship between an increased number of reported KAMs and the length of ARL. Specific categories of KAMs, such as those related to investments and the implementation of new standards, also significantly impact the delay. Additionally, the findings reaffirm the importance of several determinants of ARL, which is consistent with prior research.

This study is among the first to offer new insights by examining the relationship between both the number and specific types and/or categories of KAMs on ARL in emerging markets.

Moving into digital transformation, the development and implementation of smart cities have gained global attention, including in Gulf Cooperation Council (GCC) countries. The aim of this chapter primarily rests on the innovation and sustainability of the implemented smart cities, considering the advantages and benefits gained from the utilization of the latest technologies. It also tackles the challenges faced by these countries in managing smart cities and the processes involved in addressing these challenges toward their resolution. The main contribution of this chapter is to highlight the innovative platforms initiated by Gulf nations on smart cities by modeling transformation and development toward Vision 2040. In the form of a narrative account, the contribution extends to assessing the present status of innovativeness and development through smart cities as a baseline for future development directions in the Gulf region. Documentary evidence was solicited from government reports, private agency documents and files, journals, and newspapers to address the chapter’s objectives. Findings revealed that sustainability issues are prevalent and may impact future management and control of its operations. Key recommendations include the intensification of policies and regulations toward smart cities through information and communication technology maximization in the areas of transportation, education, healthcare, government services, infrastructure, and urban planning. Heightened laws and policies to address privacy and security, water, energy, technological infrastructure, overcrowding and traffic congestion, and funding. More collaborative efforts should be made by the different stakeholders, such as the government, private companies, non-government organizations, and individual experts, to ensure the smart city’s sustainable operations.

This paper aims to analyse the weekday effect on the Nifty Shariah indices as per the Islamic calendar. The study is intended to know about the return and volatility of these indices during Ramadhan and non-Ramadhan days.

The study focuses on analysing the Nifty Shariah indices and Sensex daily returns collected from NSE India and BSE India, respectively, during the period of 1 August 2016 to 31 July 2022. Descriptive statistics are used to analyse the data, while the Ordinary Least Square method is used to determine the impact of weekdays on the Nifty Shariah indices. Additionally, the study applies the GARCH statistical model to examine the influence of Ramadhan on the returns and volatility of the Nifty Shariah indices.

All of the Nifty Shariah indices produced positive returns during the overall sample period. According to the study, Tuesday index returns outperform other weekdays. The GARCH model indicated that the coefficient values for the Nifty 50 Shariah and Nifty 500 Shariah indices were negative. Ramadhan has a strong negative effect on volatility, according to this study.

The outcomes of the research are beneficial for investors aiming to exploit daily or weekly price fluctuations, rather than pursuing extended investment periods. Furthermore, fund managers can employ these findings to shape trading strategies, and academics can examine the performance of Shariah indices in the Indian context. This enables devout investors to make significant financial choices, thus advancing ethical values in society and upholding standards of both public and private morality.