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The development of Waqf accounting in enhancing accountability

The resurgence of waqf institutions creates the need to establish good accounting system for these institutions. The aim of this paper is to evaluate the needs for developing accounting standards and Statement of Recommended Practice for Charity (SORP) based on the AAOIFI (Accounting and Auditing of...

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Main Author: Masruki R., Shafii Z.
Format: Article
Language:English
Published: Statistical Economic and Social Research 2017
Online Access:http://ddms.usim.edu.my:80/jspui/handle/123456789/15491
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spelling my.usim-154912018-04-02T04:36:30Z The development of Waqf accounting in enhancing accountability Masruki R., Shafii Z. The resurgence of waqf institutions creates the need to establish good accounting system for these institutions. The aim of this paper is to evaluate the needs for developing accounting standards and Statement of Recommended Practice for Charity (SORP) based on the AAOIFI (Accounting and Auditing of Islamic Financial Institutions) framework. The purpose of waqf is to provide recurring charity that generates continuous income flow to the needy. Waqf accounting may improve transparency and enhance accountability of waqf institutions in Malaysia. The absence of guidelines or standards on accounting for waqf triggers the interest to examine the relevance of waqf accounting so that transparency and accountability of waqf institutions could be assured. Thus, it is suggested that accounting is a useful means to discharge mutawalli's (trustee) accountability in waqf administration and management. Further study should be undertaken to propose the appropriate accounting standards for waqf institutions. ©IDOSI Publications, 2013. 2017-12-04T08:59:00Z 2017-12-04T08:59:00Z 2013 Article 19909233 http://ddms.usim.edu.my:80/jspui/handle/123456789/15491 en Statistical Economic and Social Research
institution Universiti Sains Islam Malaysia
building USIM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universit Sains Islam i Malaysia
content_source USIM Institutional Repository
url_provider http://ddms.usim.edu.my/
language English
description The resurgence of waqf institutions creates the need to establish good accounting system for these institutions. The aim of this paper is to evaluate the needs for developing accounting standards and Statement of Recommended Practice for Charity (SORP) based on the AAOIFI (Accounting and Auditing of Islamic Financial Institutions) framework. The purpose of waqf is to provide recurring charity that generates continuous income flow to the needy. Waqf accounting may improve transparency and enhance accountability of waqf institutions in Malaysia. The absence of guidelines or standards on accounting for waqf triggers the interest to examine the relevance of waqf accounting so that transparency and accountability of waqf institutions could be assured. Thus, it is suggested that accounting is a useful means to discharge mutawalli's (trustee) accountability in waqf administration and management. Further study should be undertaken to propose the appropriate accounting standards for waqf institutions. ©IDOSI Publications, 2013.
format Article
author Masruki R., Shafii Z.
spellingShingle Masruki R., Shafii Z.
The development of Waqf accounting in enhancing accountability
author_facet Masruki R., Shafii Z.
author_sort Masruki R., Shafii Z.
title The development of Waqf accounting in enhancing accountability
title_short The development of Waqf accounting in enhancing accountability
title_full The development of Waqf accounting in enhancing accountability
title_fullStr The development of Waqf accounting in enhancing accountability
title_full_unstemmed The development of Waqf accounting in enhancing accountability
title_sort development of waqf accounting in enhancing accountability
publisher Statistical Economic and Social Research
publishDate 2017
url http://ddms.usim.edu.my:80/jspui/handle/123456789/15491
_version_ 1645153931422072832
score 13.211869

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