Innovating Integrated Reporting for Private Tahfiz Institutions a Capital-Based Approach

Mira Susanti Amirrudin, Nooraslinda Abdul Aris, Muhammad Imran Mohd Irsham, Safawi Abdul Rahman and Wan Edura Wan Rashid
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Mira Susanti Amirrudin: Accounting Research Institute, University Technology MARA, Shah Alam, Selangor, Malaysia
Nooraslinda Abdul Aris: Faculty of Accountancy, University Technology MARA, Shah Alam, Selangor, Malaysia
Muhammad Imran Mohd Irsham: Faculty of Accountancy, University Technology MARA, Shah Alam, Selangor, Malaysia
Safawi Abdul Rahman: School of Information Science, College of Computing, Informatics & Mathematics, University Technology MARA, Shah Alam, Selangor, Malaysia
Wan Edura Wan Rashid: Institute of Business Excellence, University Technology MARA, Shah Alam, Selangor, Malaysia

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 12, 3155-3163

Abstract: To secure their future, Private Tahfiz Institutions (PTIs) should explore a variety of income streams beyond just public or government funding. By diversifying their financial resources, these institutions can enhance their sustainability and thrive in their mission. By integrating a business model into their operations and activities, they can generate alternative revenue streams without compromising their educational objectives. The Integrated Reporting Capital Framework (IRCF) offers a structured approach for PTIs to identify and leverage various forms of capital to create and sustain value. The IRCF can help PTIs transform their capitals into enhanced value propositions, facilitating long-term growth and sustainability. This study investigates the application of the IRCF within PTIs, focusing on the six capitals outlined in Integrated Reporting: financial, manufactured, intellectual, human, social and relational, and natural capitals. The study adopted a qualitative approach, involving interviews with six private Tahfiz institutions in Kedah and Selangor. The findings indicate that PTIs possess diverse forms of capital that can be strategically harnessed to generate future value. The proposed IRCF-based business model empowers PTIs to optimize their resources for sustained growth across these capitals. The implications of this study are significant for both policymakers and the public. For policymakers, the findings support the development of initiatives that encourage PTIs to engage in income-generating activities while maintaining appropriate governance. For the public, this study fosters greater transparency and accountability in managing funds allocated to these institutions: Tahfiz Institutions, Business model, Sustainability, Integrated Reporting Capital Framework.

Date: 2024
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