The Role of the Libyan Audit Bureau in Enhancing the National Oil Corporation’s Compliance with the Implementation of Governance Standards

Abstract

The main objective of this study is to determine the role of the Libyan Audit Bureau in promoting the National Oil Corporation's commitment to applying governance standards. To achieve this objective, a questionnaire containing 39 questions was distributed to 113 employees of the Libyan Audit Bureau. The main hypothesis of the study was that There is no statistically significant relationship between the role of the Libyan Audit Bureau in promoting the National Oil Corporation's commitment to applying governance standards. This was refuted through the use of regression and correlation tests in accordance with the Statistical Package for the Social Sciences (SPSS) programmer. The researcher recommended the formation of permanent committees to enhance joint cooperation between the Audit Bureau and the National Oil Corporation, particularly with regard to ensuring the implementation of the recommendations issued by the Audit Bureau. As for future recommendations for researchers, a study could be conducted on the degree of commitment of the National Oil Corporation to applying INTOSAI standards, or a study could be conducted on the relationship between governance standards and financial and administrative performance.