Knowledge for Shari’ah Auditors’ Competency in Islamic Financial Institutions

Ali, Nor Aishah Mohd; Mohamed, Zakiah Muhammadun; Shahimi, Shahida; Shafii, Zurina

doi:10.18178/ijtef.2016.7.4.509

Cited by 2 publications

(1 citation statement)

References 11 publications

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“…In most cases, those with accounting knowledge do not have Shariah knowledge and vice versa (Yaacob, 2012). Compared to accounting knowledge, Shariah knowledge is the most important knowledge that must be acquired and grasped in performing Shariah audit (Ali et al, 2016). Most Shariah auditors currently have only accounting background with auditing knowledge but they lack Shariah knowledge, thus the Shariah audit scopes need to be performed by a common internal auditor (Shafii et al, 2014).…”

Section: Literature Review the Importance On Shariah Audit Trainingmentioning

confidence: 99%

Exploring Shariah Audit Training Impact on Shariah Audit Understanding by Malaysian Students

Kamaruddin¹,

Hanefah²,

Shafii³

et al. 2023

IJARAFMS

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This study aims to analyse the impact of Shariah audit training on the understanding of Shariah audit knowledge by final year students in Malaysian universities. Specifically, this study investigates the understanding of final year students from Malaysian universities based on Shariah audit knowledge learned by comparing the understanding before and after enrolling in the Certified Professional Shariah Auditor (CPSA) training program conducted under the National Graduate Employability (GE 2020) initiative. Shariah audit knowledge is measured through training modules covering Shariah principles, Shariah governance, Islamic financial transactions, Shariah risk management, Shariah audit planning and programme and Shariah audit fieldwork and communication. A survey method was used to collect data from 296 graduates of 13 Malaysian public universities who were enrolled in the training program from July to August 2020. The study found that fresh graduates improved their understanding of Shariah audit knowledge after joining the Shariah audit training. In particular, female students and students with muamalat/Islamic economic background highly improved their Shariah audit knowledge from this CPSA training program compared to other students. In addition, the results also show that Shariah audit education background does not play a significant impact on students' understanding of Shariah audit knowledge after completing Shariah audit training -CPSA program. This study is believed to be the first study in recognising the impact of Shariah audit training on Shariah audit understanding by students.

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Section: Literature Review the Importance On Shariah Audit Trainingmentioning

confidence: 99%

Exploring Shariah Audit Training Impact on Shariah Audit Understanding by Malaysian Students

Kamaruddin¹,

Hanefah²,

Shafii³

et al. 2023

IJARAFMS

View full text Add to dashboard Cite

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Factors affecting Sharīʿah audit quality in Islamic banking institutions of Pakistan: a theoretical framework

Rashid

Ghazi²

2021

IES

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PurposeThe objective of this study is to present a theoretical framework, which helps ascertain the meanings of the Sharīʿah audit quality and identify the factors that affect it.Design/methodology/approachThe current literature of conventional and Islamic finance on audit quality is critically reviewed to propose the theoretical framework for the quality of Sharīʿah audit.FindingsThe paper suggests that for a better Sharīʿah compliance at Islamic banking institutions (IBIs), the role of audit practitioners is very much indispensable. The competency of the practitioner is one of the important factors that affect the quality of the Sharīʿah audit. Assessment and identification of Sharīʿah risk in different financial arrangements, contracts and transactions require a unique competency on the part of the auditor, that is, gripping Sharīʿah law besides traditional assurance skills and techniques.Practical implicationsThe Sharīʿah compliance is one of the primary objectives of IBIs, which works at the conceptual level, product development and implementation level, various business models and governance level. Sharīʿah audit function, internal or external, is an important component of Sharīʿah governance framework and provides an independent assessment of IBIs’ compliance with the Sharīʿah rules and principles and helps in managing the Sharīʿah non-compliance risk and ensuring sound internal Sharīʿah control system.Originality/valueThe paper proposes a theoretical framework for defining the Sharīʿah audit quality and determining the factors that are significant in affecting the Sharīʿah audit quality in the IBIs of Pakistan.

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Knowledge for Shari’ah Auditors’ Competency in Islamic Financial Institutions

Cited by 2 publications

References 11 publications

Exploring Shariah Audit Training Impact on Shariah Audit Understanding by Malaysian Students

Exploring Shariah Audit Training Impact on Shariah Audit Understanding by Malaysian Students

Factors affecting Sharīʿah audit quality in Islamic banking institutions of Pakistan: a theoretical framework

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