The development of Waqf accounting in enhancing accountability
The resurgence of waqf institutions creates the need to establish good accounting system for these institutions. The aim of this paper is to evaluate the needs for developing accounting standards and Statement of Recommended Practice for Charity (SORP) based on the AAOIFI (Accounting and Auditing of...
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Statistical Economic and Social Research
2017
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my.usim-154912018-04-02T04:36:30Z The development of Waqf accounting in enhancing accountability Masruki R., Shafii Z. The resurgence of waqf institutions creates the need to establish good accounting system for these institutions. The aim of this paper is to evaluate the needs for developing accounting standards and Statement of Recommended Practice for Charity (SORP) based on the AAOIFI (Accounting and Auditing of Islamic Financial Institutions) framework. The purpose of waqf is to provide recurring charity that generates continuous income flow to the needy. Waqf accounting may improve transparency and enhance accountability of waqf institutions in Malaysia. The absence of guidelines or standards on accounting for waqf triggers the interest to examine the relevance of waqf accounting so that transparency and accountability of waqf institutions could be assured. Thus, it is suggested that accounting is a useful means to discharge mutawalli's (trustee) accountability in waqf administration and management. Further study should be undertaken to propose the appropriate accounting standards for waqf institutions. ©IDOSI Publications, 2013. 2017-12-04T08:59:00Z 2017-12-04T08:59:00Z 2013 Article 19909233 http://ddms.usim.edu.my:80/jspui/handle/123456789/15491 en Statistical Economic and Social Research |
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The resurgence of waqf institutions creates the need to establish good accounting system for these institutions. The aim of this paper is to evaluate the needs for developing accounting standards and Statement of Recommended Practice for Charity (SORP) based on the AAOIFI (Accounting and Auditing of Islamic Financial Institutions) framework. The purpose of waqf is to provide recurring charity that generates continuous income flow to the needy. Waqf accounting may improve transparency and enhance accountability of waqf institutions in Malaysia. The absence of guidelines or standards on accounting for waqf triggers the interest to examine the relevance of waqf accounting so that transparency and accountability of waqf institutions could be assured. Thus, it is suggested that accounting is a useful means to discharge mutawalli's (trustee) accountability in waqf administration and management. Further study should be undertaken to propose the appropriate accounting standards for waqf institutions. ©IDOSI Publications, 2013. |
format |
Article |
author |
Masruki R., Shafii Z. |
spellingShingle |
Masruki R., Shafii Z. The development of Waqf accounting in enhancing accountability |
author_facet |
Masruki R., Shafii Z. |
author_sort |
Masruki R., Shafii Z. |
title |
The development of Waqf accounting in enhancing accountability |
title_short |
The development of Waqf accounting in enhancing accountability |
title_full |
The development of Waqf accounting in enhancing accountability |
title_fullStr |
The development of Waqf accounting in enhancing accountability |
title_full_unstemmed |
The development of Waqf accounting in enhancing accountability |
title_sort |
development of waqf accounting in enhancing accountability |
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Statistical Economic and Social Research |
publishDate |
2017 |
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http://ddms.usim.edu.my:80/jspui/handle/123456789/15491 |
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1645153931422072832 |
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13.18916 |