Obstacles facing audit committees in limiting creative accounting practices

A field study on Libyan commercial banks

Abstract

This study aims to identify the obstacles that face members of audit committees in limiting creative accounting practices in Libyan commercial banks. For the purpose of achieving the objective of this study, the deductive approach was followed, and a questionnaire was designed as a tool for data collection, and the study population consisted of three categories: the first category represented the chairmen and members of the audit committees in the Libyan commercial banks, the second category represented the internal auditors in the Libyan commercial banks, and the third category represented the Accountants in commercial banks. One of the most important findings of the study is the existence of obstacles facing audit committees in limiting creative accounting practices in Libyan commercial banks. Efficiency HAudit committee membersimportant role in Committee performance of its duties, And Reducing creative accounting practices in Libyan commercial banks The study also showed the existence of obstacles represented in the lack of coordination between the audit committees and the external auditor, and the results of the study also showed the existence of obstacles in the absence of effective communication between the audit committees and the rest of the committees, the board of directors and the executive management, which limits the work of the committee, as the committee is not interested in applying international  .accounting standards in the bank