Artificial Intelligence as a Tool to Enhance Forensic Accounting Practices to Reduce Financial Corruption: An Exploratory Study at the Libyan Audit Bureau

Abstract

This study aimed to examine the effectiveness of using artificial intelligence technologies in strengthening forensic accounting practices to reduce financial corruption, from the perspective of auditors at the headquarters of the Libyan Audit Bureau. To achieve the objectives of the study, the descriptive analytical approach was adopted. Primary data were collected through a questionnaire designed in line with the study’s topic and objectives. A total of 130 questionnaires were distributed to the study population, of which 112 valid responses were obtained for analysis. The Statistical Package for the Social Sciences (SPSS) was used to analyse the data and test the study hypotheses.

The study reached several findings, the most significant of which is the anticipated contribution of applying artificial intelligence technologies to enhancing forensic accounting practices aimed at reducing financial corruption. The findings also revealed a number of challenges facing the application of artificial intelligence technologies in forensic accounting within the local environment. Accordingly, the study recommended developing the technical infrastructure needed to support forensic accounting, formulating and improving the legal and legislative frameworks governing the use of artificial intelligence technologies in forensic accounting, establishing an organizational and ethical framework for the use of such technologies, and preparing a national training program to build the capacities of auditors at the Libyan Audit Bureau.