staff by ourselves. Moreover, the L

staff by ourselves. Moreover, the LAAA also has played no role in providing proposals or
recommendations on specific controversial accounting issues. It has played no role in
participating in/or monitoring the accounting education programmes to make sure that they
are related to the environmental needs. However, lately the LAAA has paid some attention to
developing accounting standards. It has announced the proposal for the Libyan Accounting
Standards but they are still inactive (SAR 3).
Entering the accounting profession. When the SRA group was asked to explain the
requirements of obtaining their licence to practice accounting and auditing professions,
five out of six interviewees have obtained their licences to practice accounting and
auditing professions because they hold a university degree and have five years
work experience in accounting and auditing. Moreover, this is supported by the RG.
He pointed out that the LAAA gives the accounting and auditing profession licence to
its members depending upon the university degree level and five years work experience
or postgraduate level only. The requirements of obtaining a licence of accounting and
auditing practices in Libya can be observed in the following scripts:
I have obtained the licence for accounting and auditing professions practices according to the
requirements of the Law No. 116 of 1973. This Law requires the holding of a university degree
as a minimum level of qualification and five years experience in auditing or accounting. In
addition, although I was working as an auditor in an accounting office for more than five
years, but I could not obtain this licence because I did not hold a university degree (SRA 2).
The LAAA does not require an examination when giving a practising licence to accounting
and auditing profession. This led the accounting profession to face many criticisms about its
weakness which could be attributed to that exam is necessary for awarding professional
accounting and auditing licence. So I believe that this examination is very important for
entering the accounting and auditing profession (RG).
Further, the SRA group, then, was asked if they have sat an exam to obtain the licence
of accounting and auditing practices. All the SRA interviewees did not take an exam
to enter the accounting and auditing professions. Moreover, this is supported by the
RG when he was asked the same question, he explained that taking an examination
for entering the accounting and auditing profession was not required. These results
are consistent with the questionnaire’s results. The following comments of some
interviewees of the two sample groups explain the importance of an entrance exam for
the accounting profession:
Actually, I have obtained the professional licence of chartered accountant before the issued
LAAA law in 1973 according to education degree (a Diploma) and experience. However, I did
not take an exam whether before or after publication of the Law 116 of 1973 (SRA 4).
The LAAA does not require an examination when giving a practising licence to accounting
and auditing profession. This led the accounting profession to face many criticisms about its
weakness which could be attributed to that exam is necessary for awarding professional
accounting and auditing licence. So I believe that this examination is very important for
entering the accounting and auditing profession (RG).
Discussion
The findings from descriptive statistical analysis used to analyze data from the
questionnaires indicated that there is a general agreement between the sample groups
that the financial reports of public companies and banks have been strongly influenced
by Libyan laws and regulations. These findings are consistent with the interviews