The Effectiveness of the Libyan Audit Bureau's Oversight Role in Reducing Financial Corruption A Field Study of the Libyan Audit Bureau

Abstract

This study aimed to examine the role of the Libyan Audit Bureau in combating financial corruption by assessing its effectiveness in detecting financial violations and irregularities, evaluating the extent to which audited entities comply with its recommendations, examining the contribution of its audit reports to promoting transparency and accountability, assessing the effectiveness of its follow-up procedures in implementing recommendations, and identifying the major challenges that limit the effectiveness of its supervisory role.

The study adopted the descriptive-analytical approach and used a structured questionnaire as the primary data collection instrument. The questionnaire was distributed to a sample of employees working in institutions related to financial oversight. A total of 48 valid questionnaires were analyzed after excluding two invalid responses. Appropriate statistical techniques were employed to analyze the data and test the study hypotheses at the adopted level of significance.

The findings revealed a high level of agreement among respondents regarding the effectiveness of the Libyan Audit Bureau in reducing financial corruption. The results also indicated that follow-up on the implementation of the Bureau's recommendations was perceived as the most significant dimension, followed by the role of its audit reports in enhancing transparency and accountability, and the commitment of audited entities to implementing the Bureau's recommendations. Furthermore, the study identified several organizational and administrative challenges that may reduce the effectiveness of the Bureau's supervisory role, although these challenges do not substantially undermine its overall performance.

The study recommends strengthening the institutional independence of the Libyan Audit Bureau, improving the legislative framework governing public financial oversight, adopting modern technologies in auditing and inspection processes, ensuring that audited entities implement the Bureau's recommendations, and enhancing coordination among oversight institutions and anti-corruption agencies. These measures would contribute to safeguarding public funds and reinforcing the principles of transparency, accountability, and good governance.