The harmonization of audit reports of Islamic banks

Mondher Fakhfakh

Journal of Islamic Accounting and Business Research, 2017, vol. 8, issue 2, 203-228

Abstract: Purpose - The purpose of this paper is to examine the level of harmonization of auditors’ reports issued by independent auditors of Islamic banks. Design/methodology/approach - The homogenization of the auditors’ reports of Islamic banks has been statistically measured. Supranational auditing standards on auditors’ reports (ISA 700 and AAOIFI standard) are used as the control. Findings - The results show lack of harmonization in several elements related to the form of the auditor’s report and in all elements related to the content of the auditor’s report among the Islamic banks. Originality/value - This paper provides new empirical evidence about the measurement of harmonization in the form and content of the auditors’ reports of Islamic banks. It discusses the level of compliance with the elements enumerated by the standards issued by the International Federation of Accountants and the Accounting and Auditing Organization for Islamic Financial Institutions.

Keywords: Harmonization; AAOIFI; Islamic banks; Audit reports; IFAC; ISA 700 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jiabrp:jiabr-05-2014-0016

DOI: 10.1108/JIABR-05-2014-0016

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