1. Shariah Standard

This article relies too much on to. Please improve this by adding. ( February 2014) Accounting and Auditing Organization for Islamic Financial Institutions AbbreviationAAOIFIMottoDeveloping Islamic accounting and auditing thoughtsFormationFebruary 26, 1990; 29 years ago ( 1990-02-26) in Algeria.Founders, Faysal Group , Al Rajhi Banking & Investment Corporation, and Al-Bukhary FoundationTypeIndependent international not-for-profit organizationPurposeStandardization and harmonization of international practices and financial reporting in accordance to ShariaHeadquartersManama,Location. Main organGeneral AssemblyWebsiteAccounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is a based that was established to maintain and promote standards for Islamic financial institutions, participants and the overall industry.The Commission also organizes a number of professional development programs (especially the Islamic legal accountant program and the observer program and forensic auditor) in their effort to upgrade the human resources working in the industry and the development of governance structures controls the institutions.

Contents.Incorporation AAOIFI was established in accordance with the Agreement of Association which was signed by Islamic financial institutions on 26 February 1990 in. Then, it was registered on 27 March 1991 in Bahrain. It has members from more than 45 countries, including central banks and Islamic financial institutions and other parties working in the financial industry and banking, Islamic International.The Commission has obtained support for the application of the standards issued by it, where these standards are dependent today in the Kingdom of Bahrain and the Dubai International Financial Centre, Jordan, Lebanon, Qatar, Sudan and Syria. The competent authorities in Australia, Indonesia, Malaysia, Pakistan, Saudi Arabia and South Africa issued guidelines derived from the standards and publications.

Organizational Structure The organizational structure of AAOIFI includes a general assembly. AAOIFI also has a board of trustees and an accounting and auditing standards board each consisting of fifteen part-time members, a committee consisting of four part-time members, an executive committee, and a secretary-general who is a full-time executive and heads the general secretariat.

AAOIFI Technical Boards Shari’ah Standards Review Committee Shari’ah Standards Translation Review AAOIFI-World Bank 13th Annual Conference. 30 Dec The Accounting and Auditing Organisation for Islamic Financial Institutions ( AAOIFI) has issued a new accounting standard on investment. This has however resulted to a heated debate among scholars which has hitherto translated to the evolving existing literature surrounding the interpretation of the level of compliance with the AAOIFI accounting standards.

QaoifiAccounhing data was later analyzed using descriptive statistics, regression analyses and t—test. Gangsta's paradise audio download. The finding of the study therefore indicates that, sample mean of banks in Bahrain is slightly higher in term of compliance with the AAOIFI accounting standards compared to Malaysia.We use cookies to help provide and enhance our service and tailor content and ads.Elsevier About ScienceDirect Remote accountinf Shopping cart Contact and support Terms and conditions Privacy policy We use cookies to help provide and enhance our service and tailor content and stanndards.

Adel Mohammed Yaslam Sarea. Procedia Economics and Finance Volume 31, Pages This study therefore mainly investigates the level of compliance with the AAOIFI accounting standards by Islamic banks in Bahrain and Malaysia and thus provides answers to the current debate.This paper focuses on the issue relevant to the need for Islamic accounting standards in reporting Islamic Financial Institutions IFIsin the context of Malaysia. The investigation is however undertaken by employing a survey method which involved questionnaire as primary data and annual reports as aaoifo data. Under a Creative Commons license. In that case, the findings show that in order to convince the public that they offer Shariah compliance products approved by Shariah Advisory Council, there is a need for specificity guidelines or standards for IFIs within the IFRS framework.Abstract This paper focuses on the issue relevant to the need for Islamic accounting standards in reporting Islamic Financial Institutions IFIsin the context of Malaysia.

THE IMPACT OF AAOIFI ACCOUNTING STANDARDS ON EARNINGS QUALITY: THE CASE OF ISLAMIC BANKS IN BAHRAINDownload full text in PDF Download. Without such collaboration, the intended adcounting guidelines for IFIs will be unlikely to be accepted globally. Keywords Islamic Accounting Standards. Show full item record.The findings from the current study therefore contribute towards a better understanding and acceptability of the AAOIFI accounting accouning.

Shariah Standard

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