The Perceptions of Preparers of Annual Reports about Financial Disclosure Practices in the Libyan Banks

Abstract

This study aims to examine and explore the opinions of account preparers about financial disclosure practices in Libyan commercial banks. The questionnaire was used as a tool to collect data related to this study. The results of the study showed that auditors consider that management and board members are the most important group of users of financial reports, and they also consider them among the most important groups influencing financial disclosure. The preparers of the annual reports also believe that the banking law is one of the factors that most influence financial disclosure in Libyan banks. The results of the study also showed that the delay in publishing annual reports is classified as the most important problem facing users of the annual reports of Libyan banks. Finally, the preparers of accounts believe that the lack of qualified professionals and accountants is one of the most important problems. Factors that limit the amount of financial disclosure in the annual reports of Libyan banks.