Accounting, Auditing and Governance Standards ( Arabic )

This publication contains 26 accounting standards, 5 auditing standards, 2 codes of ethics and 7 governance standards that AAOIFI has issued for the international Islamic finance industry.  These standards give guidance on, amongst others, presentation of financial statements for Islamic financial institutions (IFIs), accounting treatment for specific Islamic finance products and mechanisms, external auditing of IFIs, and Shari’a compliance and supervision processes and framework for IFIs.  Currently, the standards are followed as part of mandatory regulatory requirement or Islamic financial institutions’ internal guidelines in jurisdictions across the world that offer Islamic finance.  Consequently, the standards have introduced greater harmonization of Islamic finance practices in all major Islamic finance markets throughout the world.

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Accounting, Auditing and Governance Standards ( Arabic )
AAOIFI accounting standards have been made part of mandatory regulatory requirement in jurisdictions such as Bahrain, Jordan, Oman, Qatar, Qatar Financial Centre, Sudan, and Syria.
AAOIFI accounting standards have also been adopted by Islamic Development Bank Group, a multilateral institution.
In addition, AAOIFI accounting standards have also been used as basis of national accounting standards in jurisdictions such as Indonesia and Pakistan.
In other jurisdictions including Brunei, Dubai International Financial Centre, Egypt, France, Kuwait, Lebanon, Malaysia, Saudi Arabia, South Africa, United Arab Emirates and United Kingdom as well as in Africa and Central Asia, AAOIFI accounting standards have been used voluntarily as basis of internal guidelines by leading Islamic financial institutions.
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