Alayat, Albahlol Mohamed (60101264300); Lasyoud, Alhashmi Aboubaker (57203392860); Khan, Ajab (59501425100); Irsyadillah, Irsyadillah (57210202790)
This study identifies challenges faced by Libyan Audit Bureau (LAB) members in monitoring governance practices and sustainability disclosure in Libya's oil sector. Using quantitative data from 231 distributed questionnaires (88% response rate), the research reveals that LAB oversight remains in early stages due to persistent challenges including regulatory gaps, weak enforcement, insufficient professional standards, and cultural-institutional barriers. While international benchmarks such as IFRS S1 and S2 gain worldwide adoption, Libya's implementation remains limited. Enhanced LAB effectiveness requires policies addressing stakeholder rights, Islamic principles integration, transparency mechanisms, conflict management, and external factors including professional development, legal system strengthening, enforcement improvement, cultural considerations, and awareness building for governance and sustainability reporting. © 2025 The Author(s). Business Strategy and the Environment published by ERP Environment and John Wiley & Sons Ltd.
School of Business Economics, Finance and Law, Anglia Ruskin University, Cambridge, United Kingdom; School of Business Administration, University of South Carolina Aiken, Aiken, United States; Department of Business & Law, Southampton Solent University, Southampton, United Kingdom; Portsmouth Business School, University of Portsmouth, Portsmouth, United Kingdom; Department of Economics Education, Universitas Syiah Kuala, Banda Aceh, Indonesia
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