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Issues and challenges of auditing in Islamic financial institutions

The Islamic Finance Institutions (IFIs) has gained international recognition as a viable and vibrant component of the global financial system. As a matter of fact, Islamic Finance has seen an increased adoption across the globe, and is growing faster than any other industry at a rate of 15 to 20 per...

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Main Authors: Mathew Kevin Bosi, Melissa Della Joy
Format: Article
Language:English
English
Published: Valley International 2017
Subjects:
HF5001-6182 Business
HG2397-3550 By region or country
Online Access:https://eprints.ums.edu.my/id/eprint/33385/2/Issues%20and%20challenges%20of%20auditing%20in%20Islamic%20financial%20institutions.abstract.pdf
https://eprints.ums.edu.my/id/eprint/33385/1/Issues%20and%20challenges%20of%20auditing%20in%20Islamic%20financial%20institutions.pdf
https://eprints.ums.edu.my/id/eprint/33385/
https://www.ijhssi.org/papers/v6(2)/version-3/C0602031520.pdf
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spelling my.ums.eprints.333852022-07-20T04:30:41Z https://eprints.ums.edu.my/id/eprint/33385/ Issues and challenges of auditing in Islamic financial institutions Mathew Kevin Bosi Melissa Della Joy HF5001-6182 Business HG2397-3550 By region or country The Islamic Finance Institutions (IFIs) has gained international recognition as a viable and vibrant component of the global financial system. As a matter of fact, Islamic Finance has seen an increased adoption across the globe, and is growing faster than any other industry at a rate of 15 to 20 percent a year. This study aims to expand the literature relating to IFIs and to provide a coeval outlook on the issues and challenges of Shari’ah audit in IFIs specifically in Malaysia. Hence, the earlier part of this study explains the current auditing standards for IFIs and the roles of Shari’ah auditors, followed by a close look up on the issues and challenges facing the audit of IFIs such as the standards and regulatory requirements of Shari’ah audits, independence of Shari’ah auditors and qualification as well as the accountability of the Shari’ah auditors. This study concludes that there is a need of regulatory framework specifically designed for Shari’ah audits along with the need of independent and accountable Shari’ah auditors to conduct the audit of IFIs. Valley International 2017-02 Article PeerReviewed text en https://eprints.ums.edu.my/id/eprint/33385/2/Issues%20and%20challenges%20of%20auditing%20in%20Islamic%20financial%20institutions.abstract.pdf text en https://eprints.ums.edu.my/id/eprint/33385/1/Issues%20and%20challenges%20of%20auditing%20in%20Islamic%20financial%20institutions.pdf Mathew Kevin Bosi and Melissa Della Joy (2017) Issues and challenges of auditing in Islamic financial institutions. International Journal of Humanities and Social Studies Invention, 6. pp. 15-20. ISSN 2319-7714 (P-ISSN) , 2319-7722 (E-ISSN) https://www.ijhssi.org/papers/v6(2)/version-3/C0602031520.pdf
institution Universiti Malaysia Sabah
building UMS Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Sabah
content_source UMS Institutional Repository
url_provider http://eprints.ums.edu.my/
language English
English
topic HF5001-6182 Business
HG2397-3550 By region or country
spellingShingle HF5001-6182 Business
HG2397-3550 By region or country
Mathew Kevin Bosi
Melissa Della Joy
Issues and challenges of auditing in Islamic financial institutions
description The Islamic Finance Institutions (IFIs) has gained international recognition as a viable and vibrant component of the global financial system. As a matter of fact, Islamic Finance has seen an increased adoption across the globe, and is growing faster than any other industry at a rate of 15 to 20 percent a year. This study aims to expand the literature relating to IFIs and to provide a coeval outlook on the issues and challenges of Shari’ah audit in IFIs specifically in Malaysia. Hence, the earlier part of this study explains the current auditing standards for IFIs and the roles of Shari’ah auditors, followed by a close look up on the issues and challenges facing the audit of IFIs such as the standards and regulatory requirements of Shari’ah audits, independence of Shari’ah auditors and qualification as well as the accountability of the Shari’ah auditors. This study concludes that there is a need of regulatory framework specifically designed for Shari’ah audits along with the need of independent and accountable Shari’ah auditors to conduct the audit of IFIs.
format Article
author Mathew Kevin Bosi
Melissa Della Joy
author_facet Mathew Kevin Bosi
Melissa Della Joy
author_sort Mathew Kevin Bosi
title Issues and challenges of auditing in Islamic financial institutions
title_short Issues and challenges of auditing in Islamic financial institutions
title_full Issues and challenges of auditing in Islamic financial institutions
title_fullStr Issues and challenges of auditing in Islamic financial institutions
title_full_unstemmed Issues and challenges of auditing in Islamic financial institutions
title_sort issues and challenges of auditing in islamic financial institutions
publisher Valley International
publishDate 2017
url https://eprints.ums.edu.my/id/eprint/33385/2/Issues%20and%20challenges%20of%20auditing%20in%20Islamic%20financial%20institutions.abstract.pdf
https://eprints.ums.edu.my/id/eprint/33385/1/Issues%20and%20challenges%20of%20auditing%20in%20Islamic%20financial%20institutions.pdf
https://eprints.ums.edu.my/id/eprint/33385/
https://www.ijhssi.org/papers/v6(2)/version-3/C0602031520.pdf
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score 13.211869

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