THE CURRENT ROLE OF ACCOUNTING INFORMATION SYSTEMS IN SERVING THE DEVELOPMENT IN LIBYA

Abstract

The purpose of this paper is to highlights the importance of accounting information in the economic development of developing countries, with a particular focus on the nation of Libya. It demonstrates that the use of accounting information to achieve economic development goals is determined largely by the political/ideological setting in which it is generated. The study is based on a literature review and archival research, reinforced by a qualitative case study comprised of interviews, attendance at meetings and a study of internal documents. The globalization as a Theories of economic development has been used to interpretive the results of the study. A study of The Libyan case as a developing country revealed that frequent politically driven changes in the structure and number of popular congresses and committees severely limited the use of accounting information, relegating it to a formal role. In consequence, accounting information had little effect on stimulating economic development in Libya