The Extent of Internal Auditor's Commitment to Internal Audit Standards and its Reflection on Raising the Efficiency of Financial Performance in Libyan Commercial Banks

Abstract

This study aimed to identify the extent of the internal auditor's commitment to internal auditing standards and the impact of this commitment on financial performance in Libyan commercial banks. The study adopted the descriptive-analytical approach, utilizing a questionnaire to collect, analyze, and express data to achieve the set objectives. The scope of the study was limited to a sample of Libyan commercial banks operating in Tripoli, where 90 questionnaires were distributed to internal auditors, members of control committees, and compliance committees. The study concluded that familiarity with internal audit principles, the independence of the internal auditor, and good audit reports contribute to enhancing the efficiency of financial performance in Libyan commercial banks. Additionally, internal auditing helps ensure that financial activities are conducted in accordance with regulations, laws, and management strategies, thereby reducing financial risks such as fraud and errors, enhancing confidence in reports, and boosting financial performance efficiency.