Islam and accounting

Mervyn K. Lewis

Accounting Forum, 2001, vol. 25, issue 2, 103-127

Abstract: Islam commands authority over the totality of a Muslim's being, not accepting any distinction between the sacred and the secular. Economics, politics, religious and social affairs—even accounting—fall under the jurisdiction of the divine law of Islam—the shari'a. In fact, accounting in the broad sense is central to Islam, since accountability to God and the community for all activities is paramount to a Muslim's faith.Based on the shari'a, Islam has formulated a comprehensive ethic governing how business should be run, how accounting ought to be undertaken, and how banking and finance is to be arranged. All of these components pose unique challenges to Islamic accounting.

Date: 2001
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DOI: 10.1111/1467-6303.00058

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