Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual"

Persistently high expectations from the operations of Islamic financial institutions (IFIs) appears to give way for a gap to exist between “what ought to be” shariah auditing and the current practice of shariah audit in IFIs in Malaysia. Sulaiman (2005) mentioned that “what ought to be desire...

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Main Authors:	Kasim, Nawal, Mohamad Ibrahim, Shahul Hameed, Sulaiman, Maliah
Format:	Article
Language:	English
Published:	World Business Institute, Australia 2009
Subjects:	HG Finance
Online Access:	http://irep.iium.edu.my/13560/ http://irep.iium.edu.my/13560/1/6%5B1%5D.-Nawal_latest.pdf

id	iium-13560
recordtype	eprints
spelling	iium-135602013-06-21T02:41:25Z http://irep.iium.edu.my/13560/ Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual" Kasim, Nawal Mohamad Ibrahim, Shahul Hameed Sulaiman, Maliah HG Finance Persistently high expectations from the operations of Islamic financial institutions (IFIs) appears to give way for a gap to exist between “what ought to be” shariah auditing and the current practice of shariah audit in IFIs in Malaysia. Sulaiman (2005) mentioned that “what ought to be desired (the desirable)” may not coincide with “what is actually desired (the desired)” and in consequent “what is actually desired” may not be the same as “the actual” practice. This paper aims to explore empirically the gap between “the desired” and “the actual” practice of shariah auditing in IFIs in Malaysia. It is found that there exists a gap between the two concepts in terms of certain issues discussed in this study. Even though this paper cannot hope to bridge the gap that exists, it nevertheless shows that shariah audit function has not seriously taken an impact in IFIs in Malaysia despite its potential as a monitoring tool for shariah compliance World Business Institute, Australia 2009 Article NonPeerReviewed application/pdf en http://irep.iium.edu.my/13560/1/6%5B1%5D.-Nawal_latest.pdf Kasim, Nawal and Mohamad Ibrahim, Shahul Hameed and Sulaiman, Maliah (2009) Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual". Global Economy & Finance Journal, 2 (2). pp. 127-137. ISSN 1834-5883
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG Finance
spellingShingle	HG Finance Kasim, Nawal Mohamad Ibrahim, Shahul Hameed Sulaiman, Maliah Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual"
description	Persistently high expectations from the operations of Islamic financial institutions (IFIs) appears to give way for a gap to exist between “what ought to be” shariah auditing and the current practice of shariah audit in IFIs in Malaysia. Sulaiman (2005) mentioned that “what ought to be desired (the desirable)” may not coincide with “what is actually desired (the desired)” and in consequent “what is actually desired” may not be the same as “the actual” practice. This paper aims to explore empirically the gap between “the desired” and “the actual” practice of shariah auditing in IFIs in Malaysia. It is found that there exists a gap between the two concepts in terms of certain issues discussed in this study. Even though this paper cannot hope to bridge the gap that exists, it nevertheless shows that shariah audit function has not seriously taken an impact in IFIs in Malaysia despite its potential as a monitoring tool for shariah compliance
format	Article
author	Kasim, Nawal Mohamad Ibrahim, Shahul Hameed Sulaiman, Maliah
author_facet	Kasim, Nawal Mohamad Ibrahim, Shahul Hameed Sulaiman, Maliah
author_sort	Kasim, Nawal
title	Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual"
title_short	Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual"
title_full	Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual"
title_fullStr	Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual"
title_full_unstemmed	Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual"
title_sort	shariah auditing in islamic financial institutions: exploring the gap between the "desirable" and the "actual"
publisher	World Business Institute, Australia
publishDate	2009
url	http://irep.iium.edu.my/13560/ http://irep.iium.edu.my/13560/1/6%5B1%5D.-Nawal_latest.pdf
first_indexed	2023-09-18T20:22:42Z
last_indexed	2023-09-18T20:22:42Z
_version_	1777408213398847488

Shariah auditing in Islamic financial institutions: exploring the gap between the "desirable" and the "actual"

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