Challenges and Opportunities of Cloud Accounting Systems Implementation in Libyan Banks (Field Study)

Abstract

         This research aims to explore the challenges and opportunities associated with implementing cloud accounting systems in Libyan banks. It focuses on how these systems impact the efficiency of accounting processes, enhance the quality of financial disclosure, and improve data security and protection. Data protection is considered one of the most significant cybersecurity threats and challenges in utilizing cloud systems. Additionally, banks face difficulties in updating their infrastructure to meet the requirements of these systems. Cloud systems contribute to simplifying accounting processes and increasing operational efficiency. Finally, this research highlights the importance of digital transformation in the Libyan banking sector and how cloud systems can play a fundamental role in improving financial and administrative performance.