Are We Accountable Enough? Exploring VBO Accounting, Reporting, and Governance in Indonesia's Pesantren Landscape

Dian Kartika Rahajeng () and Baiq Krisnina Maharani Putri
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Dian Kartika Rahajeng: Universitas Gadjah Mada
Baiq Krisnina Maharani Putri: University of Mataram

A chapter in Economics and Finance Readings, 2024, pp 195-215 from Springer

Abstract: Abstract This paper examines the accounting, reporting, and governance practices of value-based organizations (VBOs) such as Pesantren (Islamic Boarding Schools) in Indonesia, highlighting the need for reforms to enhance transparency and accountability. VBOs focus on specific goals, are well-intentioned, adhere to certain values (e.g., religious dimensions, politics), and have a contractual commitment to assist their members. A content analysis and interviews with stakeholders revealed inadequate practices among Indonesian VBOs. The authors argue that these issues stem from a lack of VBO-specific accounting standards, narrative reporting engagement, adequate staff training, and oversight from authorities. Some interviewees support the implementation of these standards and accounting regulations. Despite calls for increased transparency in emerging economies like Indonesia, there is limited knowledge about accounting and reporting mechanisms that could serve as a foundation for reforms. The paper highlights the lack of transparency in Pesantren's accountability information, concerns about fraudulent practices, and perceived ineffective regulatory oversight. It provides a national assessment of accounting and reporting practices, forming sector recommendations.

Keywords: Value-Based Organization (VBO); Accounting; Accountability; Governance; Indonesia (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-3512-9_11

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DOI: 10.1007/978-981-97-3512-9_11

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