Vol. 2, Issue 2, Part F (2016)

Abstract
The study aims to investigate the influence of Internal Audit on performance of financial organizations in Libya. Data is collected from 26 financial companies listed in Libya Stock Market. The 4 internal audit characteristics namely, the audit committee size, the audit committee independence, the auditor’s qualification and the auditor’s experience are taken as independent variables whereas Return of Assets (ROA) is used as dependent variable to measure the performance of the variable. The data is retrieved from the financial reports of organization for the three years period 2013-215. Correlation and regression tests are performance using SPSS software. The result reveals that the relation between internal audit committee size and performance is statistically insignificant whereas other variables are significant with performance of these organizations. This study helps both academicians and practitioners for policy designs. The empirical results of the study lead to recommendation to tighten the weak areas identified in this study.