Joint Audit and Its Role in Reducing Creative Accounting Practices: A Field Study on External Audit Offices and Academics in the City of Benghazi

Abstract

This study aims to identify the role of joint auditing in reducing creative accounting practices in the balance sheet, income statement, and cash flow statement. To achieve the research objectives, this study relied on collecting data through a questionnaire distributed to a sample of )150( individuals, including )87( faculty members from the Accounting Department at the University of Benghazi and )63( external auditors working in the city of Benghazi. Some descriptive and quantitative statistical methods were used and applied through the SPSS program to analyze the study data. The study found a set of results, the most important of which is the existence of a role for joint auditing in reducing creative accounting practices in the balance sheet, income statement, and cash flow statement in the Libyan environment. The study recommends the importance of establishing a mechanism for cooperation among auditing firms to unify efforts aimed at developing the external auditing profession.