Book

Description

The major aim of this research is to examine and evaluate the possibilities for the future implementation of the International Financial Reporting Standards (IFRS) in Libya. The data consists of 306 survey responses to an identical questionnaire distributed in 2015 and 2018 and 11 interview transcripts. The key quantitative results are: (a) The majority of the sample believes they had sufficient awareness and knowledge of the IFRS for preparing financial reports; (b) The majority believed that IFRS will have a positive impact on financial reports (c) The respondents thought that the two factors which will most significantly affect implementation in Libya are instability of government (61%) and corruption (59%); (d) A higher percentage of women than men were optimistic about the ability of government regulations and training courses, respectively, to assist in the implementation of IFRS; and (e) Survey respondents were more concerned about the negative effects of political instability on IFRS implementation in 2018 than they were in 2015.