The Impact of Governance on Internal Audit Management in Libyan Commercial Banks: An Analytical Study

Authors

  • Prof. Emna Boumedien
  • Ali Abdoullah Omar Ikryim

Keywords:

Governance, Internal Audit Management, Libyan Commercial Banks, Planning Capability, Planning Capability, Independence, Efficiency and Productivity Enhancement

Abstract

The study aimed to investigate the relationship between governance and various aspects of
internal audit management, including planning capability, independence, efficiency, and
productivity enhancement within Libyan commercial banks. To achieve the primary objective
of the study, a quantitative approach was employed, analyzing 263 questionnaires. The results
reveal a statistically significant relationship at the significance level (α ≤ 0.5) between
governance and internal audit management dimensions, with statistical tests indicating that
governance positively influences internal audit management across all examined dimensions,
confirming the vital role of governance in enhancing internal audit management within
financial institutions. Based on the results, recommendations are provided to enhance
organizational structures, reinforce internal audit functions, promote compliance culture,
provide comprehensive training and awareness programs, and adopt international best
practices. Implementation of these recommendations can contribute to enhancing governance
practices and improving the effectiveness of internal audit management, thereby fostering trust,
transparency, and stability in the financial system, in addition to advancing financial and
economic sustainability goals. Furthermore, the study recommends conducting further research
to delve deeper into exploring dimensions of governance aimed at enhancing the effective
relationship between governance and internal audit management, considering other
methodologies such as qualitative methods through conducting interviews to access the
perspectives of auditors that have not been addressed in previous studies.

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Published

2024-07-01

How to Cite

Prof. Emna Boumedien, & Ali Abdoullah Omar Ikryim. (2024). The Impact of Governance on Internal Audit Management in Libyan Commercial Banks: An Analytical Study. Acta Scientiae, 7(1), 665–686. Retrieved from https://periodicosulbrabra.org/index.php/acta/article/view/135

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Articles