Religion: A Confounding Cultural Element in the International Harmonization of Accounting?

Hamid, Shaari A.; Craig, Russell; Clarke, Frank

doi:10.1111/j.1467-6281.1993.tb00427.x

Cited by 138 publications

(110 citation statements)

References 3 publications

Supporting

Mentioning

107

Contrasting

Unclassified

Order By: Relevance

“…This concept of trustworthiness is one of the highly regarded virtues in Islam especially for those involved in business, as the Holy Prophet says "A truthful merchant will be raised on the Day of Judgment together with the truthful and the martyrs" (Asri and Fahmi 2004, p. 5). It is believed that the importance of accountability in Islam can be traced in the Holy Qur'an to the Sunnah, which contains God's inspired acts -the sayings of the Prophet Muhammad (Hamid et al 1993) and the traditions of the sahabah (companions) as well as Islamic jurisprudence. Therefore, every individual in an organization is required to subscribe to ethical and moral practices while carrying out their activities as they are seen as trustees.…”

Section: Literature Reviewmentioning

confidence: 99%

Accounting and Accountability in Religious Organizations: An Islamic Contemporary Scholars’ Perspective

Basri

Khalid

Majid

2016

GADJAH MADA INT. J. BUS.

View full text Add to dashboard Cite

Abstract:The purpose of this article is to discuss the views and opinions of contemporary Muslim scholars on organisational accountability in Islam. The paper is based on in-depth semi-structured interviews and a review of the relevant documents. Eighteen interviews with twelve Muslim scholars, two ulamas (mufti), two organisational donors, and two relevant government officers, both in Indonesia and in Malaysia were, respectively, conducted. The Muslim scholars interviewed perceived that accounting and accountability activities are not contradictory to Islamic teachings. The accountability relationship in Islam is viewed as not only fulfilling the legal requirements, but also fulfilling the relationship with God. The findings clearly indicate that a formal accountability mechanism is strongly encouraged in Islam, and financial reporting is viewed as essential in enhancing the accountability of Islamic religious organizations. Therefore, any organization dealing with community funds must demonstrate its financial accountability formally; i.e., through written reports. Thus, public or community trust in the organisation cannot replace the accountability mechanism.Abstrak: Tujuan studi ini adalah untuk mendiskusikan berbagai pandangan dan pendapat para cendikiawan Muslim kontemporer tentang akuntabilitas organisasional dalam Islam. Wawancara mendalam semi terstruktur dan reviu terhadap berbagai dokumentasi yang relevan telah dilakukan untuk mendapatkan pandangan para cendikiawan terhadap isu ini. Studi ini telah mewawacarai 12 orang cendikiawan Muslim baik yang berdomisili di Indonesia maupun di Malaysia, dua orang dari lembaga donor, dua orang ulama dan dua orang pegawai pemerintahan terkait baik di Malaysia maupun di Indonesia. Penelitian ini mendapati bahwa responden yang diwawancarai tidak melihat kegiatan akuntansi dan akuntabilitas sebagai sesuatu yang bertentangan dengan ajaran Islam. Hubungan akuntabilitas dalam Islam tidak hanya ditujukan untuk memenuhi persyaratan legalitas, tetapi juga sebagai bagian pelaksanaan kewajiban kepada Allah SWT. Para cendikiawan Muslim sepakat bahwa mekanisme akuntabilitas formal harus diaplikasikan dalam setiap organisasi keagamaan Islam dan mereka memandang bahwa laporan keuangan adalah sesuatu yang sangat penting dalam meningkatkan akuntabilitas organisasi tersebut. Oleh karena itu, setiap organisasi yang mengelola dana publik harus menunjukkan akuntabilitas keuangan mareka secara formal, yaitu melalui laporan tertulis. Jadi, kepercayaan publik dan masyarakat tidak dapat menggantikan mekanisme akuntabilitas.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Accounting and Accountability in Religious Organizations: An Islamic Contemporary Scholars’ Perspective

Basri

Khalid

Majid

2016

GADJAH MADA INT. J. BUS.

View full text Add to dashboard Cite

show abstract

“…Therefore, as Hamid et al (1993) argue, it is important that sukuk implementation has to be compliant with www.ccsenet.org/ass Asian Social Science Vol. 11, No.…”

Section: The Impact Of Shariah Auditing On Sukuk Legitimacymentioning

confidence: 99%

An Empirical Analysis on Legitimacy of Sukuk: An Insight of Malaysian Sukuk

Ahmed¹,

Islam²,

Ariffin³

2015

ASS

View full text Add to dashboard Cite

Islamic Sukuk have a key impact and high influence in different economic and banking transactions where they have got an estimable position in financial markets and international money. Recently, sukuk have been considered as one of the fastest industries in its growth in international financial landscape and also considered as the most successful financial products among the Islamic financial institutions. Institutions should be giving more attention to sukuk development and to ensuring that these sukuk are compliant with Sharia requirements. The main objective of this paper is to determine the factors which influencing on sukuk legitimacy. A total of 54 Islamic sukuk Islamic financial institutions in Malaysia representing the whole population were selected. Secondary data was used and sourced from the sukuk shariah report. Using descriptive statistics, the existence and the extent of existence of legitimacy in Islamic sukuk in Islamic financial institutions in Malaysia was ascertained. The research found that the selected factors influence on sukuk legitimacy are could be used as subjects of references in determining the existence of legitimacy in shariah pronouncements.

show abstract

“…Because of the high intensity of stress and anxiety regarding uncertainty and risk, and the intense degree of implementation in legislation, laws and regulations also indicate high uncertainty avoidance in Indonesia. The power of religionIslam -also plays a potential part in affecting detailed rules and instructions in the structure of society [34,35]. One of Sudarwan & Fogarty's hypotheses found a positive and significant correlation between uncertainty avoidance and conservatism of accounting practices in Indonesia.…”

Section: Analysis and Discussion Of Cultural Influence On Indonesia'smentioning

confidence: 99%

Culture and Accounting Practices in Indonesia

Blesia

2017

AJEBA

View full text Add to dashboard Cite

This article discusses the cultural impacts on the accounting values and practices in the context of Indonesia. Hofstede's cultural dimensions (individualism versus collectivism, large versus small power distance, strong versus weak uncertainty avoidance and masculinity versus femininity) with Gray's accounting values (professionalism versus statutory control, uniformity versus flexibility, conservatism versus optimism and secrecy versus transparency) are applied to Indonesia's accounting systems and practices. The presented article showed that there has been small progress in enabling auditors or accountants to exercise their individual professional judgments. As a result of the capitalist system, with its heavy government intervention in the practices of the accounting profession, the professionalism in the accounting sector is still weak. This in turn influences the disclosure of accounting information. Indonesia's collectivistically-oriented society thus has caused a lower level of professionalism where management, including accountants and auditors of the firms, find it difficult to exercise their professional judgments. This then has a direct impact on the uniformity of accounting practices as well as on the disclosure of accounting information. The strong avoidance of uncertainty in Indonesia results in the conservatism of accounting practices, where the use of the historical cost of asset valuation, recognition of internally-generated assets and amortization of those intangible assets are largely practised. There is a strongly masculine influence in the society, which causes secrecy, thus restricts the disclosure of accounting information with the intent of avoiding competition among the society. Mini-review Article

show abstract

Religion: A Confounding Cultural Element in the International Harmonization of Accounting?

Cited by 138 publications

References 3 publications

Accounting and Accountability in Religious Organizations: An Islamic Contemporary Scholars’ Perspective

Accounting and Accountability in Religious Organizations: An Islamic Contemporary Scholars’ Perspective

An Empirical Analysis on Legitimacy of Sukuk: An Insight of Malaysian Sukuk

Culture and Accounting Practices in Indonesia

Contact Info

Product

Resources

About