Appendix 2, Table AVIII). From the results in Table IX, it can be suggested that there
was no consensus among the respondents from the two groups on the above statements.
The findings in Table X reveal that the respondents are highly concerned as more
than 95 per cent of respondents believe that US GAAP are important and very
important as accounting sources when auditors audit the company’s financial reports,
with scores an average of 4.3.
While nearly 5 per cent of them perceived that US GAAP are not important.
The results in Table XI show that over 59 per cent of respondents believe that the
EDLASs are not important for auditing and more than 32 per cent of them thought they
are not important at all with an average score (1.8), while only 9 per cent considered that
they are important. Furthermore, the Table XII shows that 61 per cent of respondents
thought that Libyan laws and regulations as sources for auditors of companies when they
audit these companies’ financial reports are very important and over 37 per cent
considered that they are important, with an average mean of 4.6.
The t-test results show that there were no statistically significant differences between
the sampled groups on the three statements that shown in Tables X-XII (p’s ¼ (0.479,
0.929 and 0.466, respectively). From these results it can be seen that there was consensus
among the respondents from the two groups on the above three statements.
The role of the LAAA in developing accounting profession. To examine the role of
the LAAA in developing and regulating the accounting profession in the country,