STANDARDIZATION OF INTERNAL SHARIA AUDIT

Autores

  • Irina V. Novikova Kazan Federal University
  • Firdaus I. Kharisova Kazan Federal University

DOI:

https://doi.org/10.22478/ufpb.2179-7137.2019v8n7.50008

Palavras-chave:

internal Sharia audit, Islamic financial institutions, AAOIFI standards, Islamic banking, internal audit standards.

Resumo

The significant growth rates of the Islamic economy and the great interest in Islamic financial products and services from among other non-Islamic partners have determined the need to tighten control over the observance of Sharia norms and rules by Islamic Financial Institutions. Internal audit has long established itself as one of the most effective means of internal control and improving the efficiency of organizations. That is why AAOIFI has developed a new standard, “Internal Sharia Audit,” which should form the basis for the operation of the largest IFIs in Malaysia and the Gulf countries. For Russia, this standard is of particular interest in the changing context of financial markets and the redistribution of investment flows. The paper provides a brief overview of the most significant provisions of the presented standard. Details were considered regarding significant changes from the earlier standard released by AAOIFI. Based on the fundamental principles of audit activity, special attention is paid to the organizational independence and objectivity of internal Sharia auditors, as well as to quality control of the audit procedures. As in the standard itself, the paper analyses the requirements for the skill level of internal Sharia auditors

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Referências

Banking according to the canons of Sharia (2018). "Money". Appendix No. 52 dated November 28, p. 13 [Electronic resource]. - Access mode: https://www.kommersant.ru/doc/3798682

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Official site AAOIFI [Electronic resource]. - Access mode: http://aaoifi.com/announcement/aaoifi-publishes-exposure-draft-on-internal-Sharia-audit-and-invites-opinion-from-islamic-finance-industry/?lang=en

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Bekkin, R. I. (2014). Features of Sharia supervision in Islamic financial institutions: the modern experience of Muslim and non-Muslim countries. Bulletin of St. Petersburg University, 3.
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Khalid, A. A., Haron, H., Sarea, A. M., & Masron, T. A. (2018). The Role of Shariah Supervisory Board on Internal Shariah Audit Effectiveness: Evidence From Bahrain. Academy of Accounting and Financial Studies Journal, 22(5), 1-15.

Kharisova, F. I., Yusupova, A. R., & Kharisov, I. K. (2018). General characteristics of accounting standards for Islamic financial institutions. International Accounting, 21(3), 138-148.
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Ryabchenko, L. I. (2018). Prospects for the development of Islamic banking in Russia. University Bulletin, 9, 140-146

Publicado

2019-12-24

Como Citar

V. NOVIKOVA, I. .; I. KHARISOVA, F. . STANDARDIZATION OF INTERNAL SHARIA AUDIT. Gênero & Direito, [S. l.], v. 8, n. 7, 2019. DOI: 10.22478/ufpb.2179-7137.2019v8n7.50008. Disponível em: https://periodicos.ufpb.br/index.php/ged/article/view/50008. Acesso em: 8 nov. 2024.

Edição

Seção

Seção Livre