Factors affecting Shariʿah audit quality in Islamic banking institutions of Pakistan : a theoretical framework
Joint Authors
Abd al-Rashid
Ghazi, Muhammad Saarim
Source
Issue
Vol. 28, Issue 2 (30 Apr. 2021), pp.124-140, 17 p.
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
2021-04-30
Country of Publication
Saudi Arabia
No. of Pages
17
Main Subjects
Abstract EN
Purpose - The objective of this study is to present a theoretical framework, which helps ascertain the meanings of the Shariah audit quality and identify the factors that affect it.
Design/methodology/approach - The current literature of conventional and Islamic finance on audit quality is critically reviewed to propose the theoretical framework for the quality of Shariah audit.
Findings - The paper suggests that for a better SharTah 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 Shari” ah audit.
Assessment and identification of SharT ah risk in different financial arrangements, contracts and transactions require a unique competency on the part of the auditor, that is, gripping Shariah law besides traditional assurance skills and techniques.
Practical implications - The Shariah 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.
Shariah audit function, internal or external, is an important component of Shariah governance framework and provides an independent assessment of IBIs’ compliance with the Shariah rules and principles and helps in managing the Shariah non-compliance risk and ensuring sound internal Shariah control system.
Originality/value - The paper proposes a theoretical framework for defining the Shariah audit quality and determining the factors that are significant in affecting the Shariah audit quality in the IBIs of Pakistan.
American Psychological Association (APA)
Abd al-Rashid& Ghazi, Muhammad Saarim. 2021. Factors affecting Shariʿah audit quality in Islamic banking institutions of Pakistan : a theoretical framework. Islamic Economic Studies،Vol. 28, no. 2, pp.124-140.
https://search.emarefa.net/detail/BIM-1414663
Modern Language Association (MLA)
Abd al-Rashid& Ghazi, Muhammad Saarim. Factors affecting Shariʿah audit quality in Islamic banking institutions of Pakistan : a theoretical framework. Islamic Economic Studies Vol. 28, no. 2 (Apr. 2021), pp.124-140.
https://search.emarefa.net/detail/BIM-1414663
American Medical Association (AMA)
Abd al-Rashid& Ghazi, Muhammad Saarim. Factors affecting Shariʿah audit quality in Islamic banking institutions of Pakistan : a theoretical framework. Islamic Economic Studies. 2021. Vol. 28, no. 2, pp.124-140.
https://search.emarefa.net/detail/BIM-1414663
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 136-140
Record ID
BIM-1414663