A survey on Islamic Finance and accounting standards

A survey on Islamic Finance and accounting standards

This review presents Islamic financial standards from inception to recent developments. The review discusses issues relating to the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Islamic Financial Services Board (IFSB), and International Islamic Financial Markets s...

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Bibliographic Details
Main Authors: Aliyu, S. (Author), Hassan, M.K (Author), Huda, M. (Author), Rashid, M. (Author)
Format: Article
Language:English
Published: Borsa Istanbul Anonim Sirketi 2019
Subjects:
AAOIFI
Financial standards
IFSB
IIFM
Islamic finance
Survey
Online Access:View Fulltext in Publisher
Description
Summary:This review presents Islamic financial standards from inception to recent developments. The review discusses issues relating to the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Islamic Financial Services Board (IFSB), and International Islamic Financial Markets standards (IIFM). Beyond institutional financial standards, this article proposes other perspectives that focus on the socio-economic impacts to the system. Consequently, the functional activities and standards development process of the reviewed bodies are discussed. The paper also highlights other challenges that need further strengthening within the system and concludes with suggestions for future studies. © 2019 The Authors
ISBN:22148450 (ISSN)
DOI:10.1016/j.bir.2019.07.006

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