AAOIFI Technical Boards Shari’ah Standards Review Committee · Shari’ah Standards Translation Review AAOIFI-World Bank 13th Annual Conference. 30 Dec The Accounting and Auditing Organisation for Islamic Financial Institutions ( AAOIFI) has issued a new accounting standard on investment. This paper focuses on the issue relevant to the need for Islamic accounting standards in reporting Islamic Financial Institutions (IFIs), in the context of Malaysia.
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The finding of the study therefore indicates that, sample mean of banks standares Bahrain is slightly higher in term of compliance with the AAOIFI accounting standards compared to Malaysia.
Without such collaboration, the intended specific guidelines for IFIs will be unlikely to be accepted globally. Download full text in PDF Download.
The data was later analyzed using descriptive statistics, regression analyses and t—test. The t-test was conducted to verify the mean differences among the respondents in Islamic banks.
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Procedia Economics and Finance Volume 31, Pages Moreover, the results revealed that, although the AAOIFI accounting standards are not mandatory in Malaysia, there are some similarities between the perceptions of Islamic banks in Malaysia and Bahrain on certain aspects related to the responsibility to comply with the AAOIFI accounting standards.
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Under a Creative Commons license. In that case, the findings show that in order to convince the public that they offer Shariah compliance products approved by Shariah Advisory Council, there is a need for specificity guidelines or standards for IFIs within the IFRS framework.
Please use this identifier to cite or link to this item: This study therefore mainly investigates the level of compliance with the AAOIFI accounting aaojfi by Islamic banks in Bahrain and Malaysia and thus provides answers to the current debate.
Abstract This paper focuses on the issue relevant to the need for Islamic accounting standards in reporting Islamic Financial Institutions IFIsin the context of Malaysia. Adel Mohammed Yaslam Sarea. The findings from the current study therefore contribute towards a better understanding and stahdards of the AAOIFI accounting standards.
This has however resulted to a heated debate among aoifi which has hitherto translated to the evolving existing literature surrounding the interpretation of the level of compliance with the AAOIFI accounting standards. The basis of the study was diffusion of innovation theory which states that, the perceived relative advantage, compatibility, complexity, trialability and observability influence the level of compliance or adoption.
Keywords Islamic Accounting Standards.
THE IMPACT OF AAOIFI ACCOUNTING STANDARDS ON EARNINGS ()
This paper focuses on the issue relevant to the need for Islamic accounting standards in reporting Accounying Financial Institutions IFIsin the context of Malaysia.