This paper focused on the practical obstacles that will facethe process of implementing of International FinancialReporting Standards (IFRS), with particular reference toLibya. Due to certain weakness of its accountinginfrastructure, there is no doubt that adoption andimplementing of IFRS in Libya is not an easy task as somemight think. Therefore, although in implementing of IFRS Libya will gain many benefit including increasing the level of comparability and provide more reliable, accurate, transparence and valid financial accounting information. However, the process of implementing IFRS in Libya will face several obstacles including lack of technical skills andinadequate knowledge of Libyan professional accountants,the difficulty to develop its existing accounting systems, anda regulatory framework to cope with economic and socialdevelopment, and recent evolution in accounting professionincluding international financial reporting standardsapplication, inadequate education and training ofaccountants. This paper reveals that many necessary stepsshould be taken to overcome such obstacles which includestrengthen professional accountancy body (LAAA) toimprove the status of profession, revisions of curriculum foreducating and training of professional accountants to enableaccountants to gain exposure to international developmentsin the profession including IFRS application.
Pengaruh Transparansi, Kompetensi, Dan Sistem Akuntansi Keuangan Terhadap Akuntabilitas Pengelolaan Keuangan Daerah Dengan Penerapan Sistem Pengendalian Internal Pemerintah Sebagai Variabel Moderasi
