The extent of audit report lag in the Islamic banking institutions in Malaysia

Timeliness of financial reporting is a mirror of up-to-date financial information which is considered as the main driver for useful corporate financial reporting. The extent of audit report lag is found to be the most observable indicator for timely financial reporting because financial reports cann...

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Main Authors:	Kaaroud, Mohamed Ahmed, Mohd Ariffin, Noraini, Ahmad, Maslina
Format:	Conference or Workshop Item
Language:	English
Published:	2016
Subjects:	HF5601 Accounting. Bookkeeping
Online Access:	http://irep.iium.edu.my/51001/ http://irep.iium.edu.my/51001/3/51001.pdf

id	iium-51001
recordtype	eprints
spelling	iium-510012016-07-15T01:40:20Z http://irep.iium.edu.my/51001/ The extent of audit report lag in the Islamic banking institutions in Malaysia Kaaroud, Mohamed Ahmed Mohd Ariffin, Noraini Ahmad, Maslina HF5601 Accounting. Bookkeeping Timeliness of financial reporting is a mirror of up-to-date financial information which is considered as the main driver for useful corporate financial reporting. The extent of audit report lag is found to be the most observable indicator for timely financial reporting because financial reports cannot be issued without being audited and verified (i.e. true and fair view) by the external auditors. The study aims to examine the extent of audit report lag in the Islamic banking institutions in Malaysia. From 112 annual report observations during 2008 to 2014, the findings of descriptive statistics show that almost all the Islamic banks are capable of producing audited financial reports within the stipulated time during the period under study. However, the findings also showed an increase in the mean ARL from 56 days in 2008 to 73 days in 2014. This may be due to the requirements of Shari’ah audit in Islamic banking institutions in Malaysia as required by the Bank Negara Malaysia through the issuance of Shari’ah gGovenance Framework in 2010, GP8-i (amended in 2012) and the Islamic Financial Services Act (2013). A part from contributing to the literature on financial reporting timeliness, this study provides a feedback for the regulator on the practice of financial reporting process in the Islamic banking institution in Malaysia. 2016-05 Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/51001/3/51001.pdf Kaaroud, Mohamed Ahmed and Mohd Ariffin, Noraini and Ahmad, Maslina (2016) The extent of audit report lag in the Islamic banking institutions in Malaysia. In: The 8th Malaysian Finance Association Conference (MFAC) & The 7th Islamic Banking, Accounting and Finance (IBAF), 29th-31st May 2016, Malacca. (Unpublished)
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HF5601 Accounting. Bookkeeping
spellingShingle	HF5601 Accounting. Bookkeeping Kaaroud, Mohamed Ahmed Mohd Ariffin, Noraini Ahmad, Maslina The extent of audit report lag in the Islamic banking institutions in Malaysia
description	Timeliness of financial reporting is a mirror of up-to-date financial information which is considered as the main driver for useful corporate financial reporting. The extent of audit report lag is found to be the most observable indicator for timely financial reporting because financial reports cannot be issued without being audited and verified (i.e. true and fair view) by the external auditors. The study aims to examine the extent of audit report lag in the Islamic banking institutions in Malaysia. From 112 annual report observations during 2008 to 2014, the findings of descriptive statistics show that almost all the Islamic banks are capable of producing audited financial reports within the stipulated time during the period under study. However, the findings also showed an increase in the mean ARL from 56 days in 2008 to 73 days in 2014. This may be due to the requirements of Shari’ah audit in Islamic banking institutions in Malaysia as required by the Bank Negara Malaysia through the issuance of Shari’ah gGovenance Framework in 2010, GP8-i (amended in 2012) and the Islamic Financial Services Act (2013). A part from contributing to the literature on financial reporting timeliness, this study provides a feedback for the regulator on the practice of financial reporting process in the Islamic banking institution in Malaysia.
format	Conference or Workshop Item
author	Kaaroud, Mohamed Ahmed Mohd Ariffin, Noraini Ahmad, Maslina
author_facet	Kaaroud, Mohamed Ahmed Mohd Ariffin, Noraini Ahmad, Maslina
author_sort	Kaaroud, Mohamed Ahmed
title	The extent of audit report lag in the Islamic banking institutions in Malaysia
title_short	The extent of audit report lag in the Islamic banking institutions in Malaysia
title_full	The extent of audit report lag in the Islamic banking institutions in Malaysia
title_fullStr	The extent of audit report lag in the Islamic banking institutions in Malaysia
title_full_unstemmed	The extent of audit report lag in the Islamic banking institutions in Malaysia
title_sort	extent of audit report lag in the islamic banking institutions in malaysia
publishDate	2016
url	http://irep.iium.edu.my/51001/ http://irep.iium.edu.my/51001/3/51001.pdf
first_indexed	2023-09-18T21:12:10Z
last_indexed	2023-09-18T21:12:10Z
_version_	1777411325421420544

The extent of audit report lag in the Islamic banking institutions in Malaysia

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