Activating the Role of the Internal Control System in Combating Financial Corruption in The Banking Sector

Abstract

The research mainly aimed to activate the role of the internal control system in combating financial corruption in the Libyan banking sector, by applying it to a sample of financial department managers, internal audit department managers, and heads of accounting departments working in Libyan commercial banks. By testing the research hypotheses statistically, the study's results showed that the internal control system plays a pivotal role in combating financial corruption and that activating this role requires focusing on continuous awareness, training, transparency, and rapid response to violations.

The study recommended enhancing internal auditors' independence, applying modern technologies, and evaluating activities regularly to ensure the system's efficiency. It also stresses the importance of senior management supporting the internal control system and providing the appropriate environment to achieve its objectives.