The Extent of The Influence of Oversight on Decision-Making Within Financial Institutions

Abstract

The aim of this article is to analyze the extent to which control affects decision-making within Libyan financial institutions. It is also fundamentally based on the extent of the auditor's contribution and role in the economic life of different societies in order to achieve the goals and objectives of the users of reports and financial statements. The study is based on a sample of 247 employees of the Ministry of Finance. Our study shows the extent of the Ministry's awareness of the importance of internal auditing, as well as the extent of the impact and role of the internal auditor's personal capabilities on decision-makers, and the extent of his role and contribution to decision-making. As the financial and administrative control is considered a distinguished model in the effectiveness and efficiency of the internal control system in both its financial and administrative parts, and it possesses most of the elements and components of internal control in the Ministry of Finance.