Latest news with #LibyanAuditBureau
Libya Review
08-08-2025
- Business
- Libya Review
Libyan Audit Bureau Clarifies Anti-Corruption Role
The Libyan Audit Bureau clarified on Friday that it does not have the legal authority to hold individuals accountable for financial corruption, stating that its role is limited to oversight, not prosecution. In a public statement, the Bureau said Law No. 19 of 2013 outlines its mandate strictly as an auditing authority, without judicial powers to prosecute those implicated in corruption cases. It emphasized that it can only examine and review the accounts of state-funded institutions as per Articles (2), (3), and (38) of the law. 'When cases of financial misconduct are uncovered, the files are referred to relevant judicial and regulatory bodies such as the Attorney General, the Administrative Control Authority, or the Military Prosecutor,' the Bureau noted. These entities are the ones legally empowered to carry out arrests, conduct investigations, and issue rulings. The Audit Bureau stressed that it does not have the authority to impose disciplinary actions, including full suspension from duty. 'Our responsibility is confined to detection and reporting, while judicial authorities follow through with legal procedures,' the statement concluded. The announcement comes amid growing public calls for stronger accountability measures and greater transparency in the handling of public funds in Libya. Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations. Libya's economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya's economy. The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions. The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition. Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges. Tags: Audit BureauCorruptionlibyaLibyan Attorney General
Libya Review
16-07-2025
- Business
- Libya Review
Libya & UNDP Discuss Joint Plans to Boost Institutional Development
The Libyan Audit Bureau held a meeting with representatives from the United Nations Development Programme (UNDP) to explore avenues for deeper cooperation and institutional development. The discussion aimed to reinforce the Bureau's ongoing efforts to modernize oversight mechanisms, promote accountability, and strengthen public sector performance through international partnerships. During the meeting, both parties focused on expanding technical collaboration in key areas such as institutional reform, transparency, anti-corruption frameworks, and the consolidation of good governance practices. The Audit Bureau expressed interest in leveraging UNDP's global experience to help raise the standards of public financial management in Libya. The two sides also discussed the outcomes of the 16th General Assembly and the 59th Executive Council meeting of the African Organization of Supreme Audit Institutions (AFROSAI), which was hosted in Tripoli at the end of last year. They emphasized the importance of implementing the event's key recommendations, especially those related to regional cooperation, capacity building, and innovation in audit practices. This initiative forms part of the Libyan Audit Bureau's broader strategic vision to transform its operational framework. By working closely with international partners such as the UNDP, the Bureau aims to build an ecosystem that supports accountability, combats corruption, and enhances public trust in state institutions. As Libya continues its political and economic recovery, enhancing public sector governance has become a national priority. The Audit Bureau's efforts to build partnerships with global development actors are seen as essential to driving reform, promoting fiscal discipline, and ensuring transparent management of state resources. Tags: AccountabilityAudit BureauCorruptionlibyaundp
Libya Review
05-05-2025
- Business
- Libya Review
Libya & Morocco Launch Joint Audit Initiative for Transparency
On Sunday, Libya and Morocco formally activated a strategic Memorandum of Understanding (MoU) aimed at strengthening public sector auditing, accountability, and transparency across both countries. The agreement, signed between Libya's Audit Bureau and Morocco's Supreme Court of Accounts, was brought into action during an official meeting in Rabat, where senior officials from both sides laid out an operational roadmap for joint oversight and reform. The agreement is part of Libya's broader push to modernize its governance institutions and restore credibility to public financial management. As implementation begins, Libya and Morocco have agreed to focus on several critical domains of oversight. These include strengthening the identification and documentation of financial violations, improving mechanisms for ethical inspection, enhancing monitoring of government contracts and infrastructure projects, and accelerating digital transformation within audit institutions. During the official launch, the heads of both institutions stressed the importance of building a new model of regional cooperation that promotes international standards of good governance. A technical task force from each side has been formed to manage the first implementation phase, which includes a timeline and performance benchmarks for each area of cooperation. The Libyan Audit Bureau emphasized that this partnership with Morocco represents not only an institutional step forward but also a symbol of shared regional responsibility in curbing mismanagement and corruption. Both countries reiterated their intent to expand the agreement in future phases to include additional areas such as anti-corruption enforcement, fiscal reforms, and regulatory innovation. This development also coincides with the signing of the headquarters agreement for AFROSAI (the African Organization of Supreme Audit Institutions), reinforcing both Libya and Morocco's roles as active contributors to the continent's institutional oversight network. Tags: FinanciallibyaMoroccoTransparencyViolations
