The extent of application of the internal audit function in light of international standards for internal auditing (field study)

Abstract

This study mainly aims to know the extent to which Libyan commercial banks apply recognized internal audit standards. This study also assesses the suitability of these standards for application in Libyan commercial banks from the point of view of internal audit managers and staff , in order to achieve these goals, a questionnaire was prepared directed to managers and internal audit staff in Libyan commercial banks. The descriptive analytical method was used in this study, as this approach allows describing various scientific phenomena and problems and understanding them accurately, The most important results demonstrated the commitment of Libyan commercial banks to international standards for internal auditing, and the paper concluded with a set of recommendations, the most important of which is working to increase interest in applying international standards for internal auditing approved by the Institute of Internal Auditors by providing programs and training courses for internal auditors to learn about all recent developments in the internal audit  field