IIUM Repository

Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual"

Kasim, Nawal and Mohamad Ibrahim, Shahul Hameed and Sulaiman, Maliah (2009) Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual". Global Economy & Finance Journal, 2 (2). pp. 127-137. ISSN 1834-5883

[img]
Preview
PDF (Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual") - Published Version
Download (55kB) | Preview

Abstract

Persistently high expectations from the operations of Islamic financial institutions (IFIs) appears to give way for a gap to exist between “what ought to be” shariah auditing and the current practice of shariah audit in IFIs in Malaysia. Sulaiman (2005) mentioned that “what ought to be desired (the desirable)” may not coincide with “what is actually desired (the desired)” and in consequent “what is actually desired” may not be the same as “the actual” practice. This paper aims to explore empirically the gap between “the desired” and “the actual” practice of shariah auditing in IFIs in Malaysia. It is found that there exists a gap between the two concepts in terms of certain issues discussed in this study. Even though this paper cannot hope to bridge the gap that exists, it nevertheless shows that shariah audit function has not seriously taken an impact in IFIs in Malaysia despite its potential as a monitoring tool for shariah compliance

Item Type: Article (Journal)
Additional Information: 1445/13560
Uncontrolled Keywords: Auditing in the Islamic perspective, Islamic Financial Institutions (IFIs)
Subjects: H Social Sciences > HG Finance
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Accounting
Depositing User: PROF MALIAH SULAIMAN
Date Deposited: 14 Jan 2012 14:39
Last Modified: 21 Jun 2013 10:41
URI: http://irep.iium.edu.my/id/eprint/13560

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year