The Impact of Applying Artificial Intelligence Techniques and Intellectual Capital on Project Value

Abstract

This study aims to analyze audit risk in the context of using digital accounting information systems in a number of Libyan banks and companies, by examining the relationship between the degree of use of electronic accounting systems (on-premises, cloud-based, and integrated ERP systems) and the level of environmental, procedural, and overall audit risks. The study is based on a sample of internal auditors, external auditors, and accountants working in institutions operating in the banking, insurance, commercial, and industrial sectors, and uses a questionnaire whose data were statistically analyzed using means, standard deviations, and appropriate tests of differences. The results show that the level of audit risk falls within a medium range that tends to be high, with a relatively higher perceived level of risk in ERP environments compared with on-premises and cloud-based systems, while cloud-based systems appear less risky in terms of the technical environment according to the respondents’ perceptions. The study concludes that digital transformation does not eliminate audit risks; rather, it reshapes them across technical and procedural dimensions, and recommends strengthening cybersecurity controls, expanding the use of Computer Assisted Audit Tools (CAATs), and enhancing auditors’ capabilities in dealing with digital accounting information systems.