Analysis of the true and fair view concept: an Islamic perspective

Salihin, Abang and Abdul Hamid, Fatima and Abdulrahman Anam , Ousama (2015) Analysis of the true and fair view concept: an Islamic perspective. International Journal of Managerial and Financial Accounting , 7 (1). pp. 38-61. ISSN 1753-6715

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Abstract

The aim of this paper is to critically examine the applicability of the concept of ‘True and Fair View’ (TFV) from an Islamic perspective. It then explores the position and roles of TFV in the Islamic accounting context. The sources of data consist of the shari’ah fundamentals from the Islamic legal sources, in addition to relevant accounting standards and regulations. The paper found that the TFV concept is not contrary to Islamic shari’ah and that TFV plays certain roles in Islamic accounting. Thus, the paper suggests that the Islamic standard setters retain the term as it is not against Islamic shari’ah and it will help avoid confusion among users of financial statements. With this, the TFV concept should continue to be used in Islamic accounting until a more appropriate phrase is coined. The paper can be considered among the first papers that analyse the TFV concept from an Islamic perspective.

Item Type:	Article (Journal)
Additional Information:	2424/41509
Uncontrolled Keywords:	true; fair; view; Islamic accounting; analysis; shari’ah.
Subjects:	H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5601 Accounting. Bookkeeping
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Accounting
Depositing User:	Dr Fatima Hamid
Date Deposited:	03 Mar 2015 16:00
Last Modified:	21 May 2018 14:29
URI:	http://irep.iium.edu.my/id/eprint/41509

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