Islamic Accounting: It’s Need, Rationale, AAOIFI’s work so far and the Way Forward |
AAOIFI is pleased to solicit high quality papers for JOIFA covering the areas of accounting for Islamic Banking and Finance, including but not limited to the following topics /areas:
1. | Accounting in the light of principles of Islamic banking and finance; |
2. | IFRS, National Standards and Islamic Finance Principles: Bridging the Gaps in the light of AAOIFI’s Standards |
3. | Fair value concept and Islamic finance principles, |
4. | Fair value accounting for Islamic financing: Benefits and issues |
5. | Islamic Law, Common Law and Accounting for Financing |
6. | Accounting for sake stakeholders’ benefit; not for ‘earnings management’ |
7. | Disclosure requirements for Islamic financial reporting |
8. | Islamic finance reporting and the impact of different depreciation approaches on various stakeholders |
9. | Developing /improving Islamic accounting standards in the light of issues in IFRS and standards already issues by AAOIFI; |
10. | Developing Islamic finance accounting for Good governance |
11. | Avoiding frauds and corruption in financial reporting; Need for Islamic ethics based approach |
12. | Fulfilling information needs of Shari’ah conscious stakeholders and the gaps in the existing frameworks of Islamic finance reporting – general and case studies of specific modes / jurisdictions; |
13. | Impact of accounting approached on various stakeholders |
14. | Resolving the issues in accounting for various Islamic modes of financing, |
15. | Accounting issues in various categories of Sukuk |
16. | Accounting for Sovereign and Corporate Ijarah Sukuk |
17. | Accounting for Shari’ah compliant (as per AAOIFI Standards) Forex transactions by the IFIs. |
18. | Accounting for various models of Takaful operations |
19. | Governance and performance reporting in Waqf institutions |
20. | Accounting for Ijarah finance compared with conventional leasing accounting |
21. | Accounting for various Musharaka based financing structures |
22. | Reforms in financial reporting for promoting Musharaka based financing |
23. | Comparing accounting for Musharaka with that of the limited partnerships of the west |
24. | Financial disclosures in accounting procedures for strengthening the Sharia governance |
25. | Accounting by Islamic fund managers and investment banking institutions |
26. | Accounting for Qard al hasan in the light of IFRS and AAOIFI’s standards |
Contributors may write on the objectives, the approach and tools, issues of contention with regard to IFRS and necessary guideline for their adaptation for removing the contentious issues.
Experts may also prepare reviews and offer comments on AAOIFI’s new standards, and exposure drafts of standards in the pipeline, particularly Standard on Murabaha and Other Deferred Payment Sales and Shariah Standard on Gold.
Paper Submission Timeline
Last Date for Paper Submission: | 4th May 2017 |
Acceptance for peer reviews / rejection info | by 18th May |
Reviewers’ comments to authors for revision | by 20th June 2017 |
Submission of final version | by 4th July 2017 |
Early submissions encouraged; late submissions, however, could be considered for the next Issue(s) of the JOIFA