Perceptions of the Users of Financial Information about the Content and Usefulness of Libyan Banks’ Annual Reports

Musa M. Kribat

Abstract


This study aimed to explore and examine the perceptions and attitudes of users about content and usefulness of Libyan banks’ annual reports. Data analysis was based on a questionnaire survey. The findings of this study suggest that the annual reports of Libyan banks are frequently used for making financial decisions and are in fact considered to be the most important source of information for making economic and financial decisions about such firms. Moreover, users believe the quality of current financial disclosure in Libyan banks’ annual reports to be satisfactory. However, the quantity of current financial disclosure is seen as inadequate. Reliability and relevance of the information are the most important characteristics of financial information from the users’ point of view, but a lack of the former is the most significant perceived problem regarding Libyan banks’ annual reports. In terms of the different sections, respondents ranked the income statement as the most important (and reliable) part, although the auditor’s report was ranked as most reliable.

Keywords


Financial Information Users, Annual Reports, Usefulness of Annual Reports, Libyan Banks

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