The Impact of the Factors of External Audit Team Members on the Credibility of Financial Reports

Abstract

This research aimed to study the impact of certain factors related to external audit team members (independence, professional competence, and specialized practical experience) on the credibility of financial reports from the perspective of external auditors working in accounting and auditing firms in the Libyan environment. The research relied on a descriptive-analytical approach to address the topic, and questionnaires were used as the primary tool for collecting the necessary primary data for the field study. These questionnaires were distributed to a random sample consisting of (94) external auditors working in accounting and auditing firms in the western region of Libya. A total of (65) valid and usable questionnaire responses were received, representing (69 %) of the distributed questionnaires.The research concluded, through statistical analysis of the collected data using the SPSS statistical package for social sciences, that the credibility of financial reports was positively influenced by all the factors related to the external audit team members (independence, professional competence, and specialized practical experience).