Professionalizing the role of Shari'ah auditors: How Malaysia can generate economic benefits

Syed Najeeb and Shahul Hameed Mohamed Ibrahim

Pacific-Basin Finance Journal, 2014, vol. 28, issue C, 91-109

Abstract: The paper presents arguments on the need for inventing the profession of Shari'ah auditing and why Malaysia should take the lead to create an Association of Chartered Shari'ah Accountants and Auditors (ACSAA) that can result in long run economic benefits for the country. The paper also critically analyzes how accounting and auditing membership is being exported worldwide by few dominant players to generate economic benefits for their respective origin countries and how existing Islamic accounting and auditing qualification suppliers have failed to deliver and create holistic Shari'ah accountants/auditors required to serve in an ideal Islamic economy. The paper proposes 2 models through which ACSAA can be made a practical reality.

Keywords: Shari'ah audit; Professional accounting bodies; Islamic finance (search for similar items in EconPapers)
JEL-codes: F13 F54 F59 M41 M42 Z12 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:28:y:2014:i:c:p:91-109

DOI: 10.1016/j.pacfin.2013.10.009

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