Please use this identifier to cite or link to this item: http://ddms.usim.edu.my:80/jspui/handle/123456789/15491
Title: The development of Waqf accounting in enhancing accountability
Authors: Masruki R., Shafii Z.
Issue Date: 2013
Publisher: Statistical Economic and Social Research
Abstract: 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.
URI: http://ddms.usim.edu.my:80/jspui/handle/123456789/15491
ISSN: 19909233
Appears in Collections:Accountability; Accounting; Mutawalli (Trustee); Waqf

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