alexa
Reach Us +44-1522-440391
Halal Assurance for Islamic Capital Market: The Accountability of Shariah Auditors | OMICS International | Abstract
E-ISSN: 2223-5833

Arabian Journal of Business and Management Review
Open Access

Our Group organises 3000+ Global Conferenceseries Events every year across USA, Europe & Asia with support from 1000 more scientific Societies and Publishes 700+ Open Access Journals which contains over 50000 eminent personalities, reputed scientists as editorial board members.

Open Access Journals gaining more Readers and Citations
700 Journals and 15,000,000 Readers Each Journal is getting 25,000+ Readers

This Readership is 10 times more when compared to other Subscription Journals (Source: Google Analytics)

Review Article

Halal Assurance for Islamic Capital Market: The Accountability of Shariah Auditors

Kasim N1*, Md Noor R1, Shafii Z3 and Abidin AZ3

1Accounting Research Institute, University Technology MARA, 40450 Shah Alam, Selangor, Malaysia

2University Sains Islam Malaysia Nilai, Malaysia

3Internal Audit Department Bank of Tokyo Mitsubishi UFJ, Kuala Lumpur, Malaysia

*Corresponding Author:
Kasim N
Accounting Research Institute, Faculty of Accountancy
University Technology MARA, 40450 Shah Alam, Selangor, Malaysia
Tel: +60 3-5544 2000
E-mail: [email protected]

Received date: June 02, 2015 Accepted date: August 20, 2015 Published date: August 29, 2015

Citation: Kasim N, Md Noor R, Shafii Z, Abidin AZ (2015) Halal Assurance for Islamic Capital Market: The Accountability of Shariah Auditors. Arabian J Bus Manag Review 5:161. 

Copyright: © 2015 Kasim N, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

Abstract

The large potential of the halal business and the continuous unique position and strength of the halal hubs demand more from an audit function for halal assurance. Hence there is a need for a properly in place monitoring and controlling system to be in tandem with the drastic development of the industry. This paper examines the role of Shariah auditors in discharging their accountability towards halal assurance. The paper attempts to relate the concept of accountability to the reality of a Shariah auditor by referring to the concept of “Taklif”in Al-Quran through its Surah Al-Baqarah (2:282). Further, the role of the Shariah auditor for halal assurance is argued to be in defects without the criteria of having the Islamic identity, being knowledgeable in Shariah Islamiah and having the value of integrity embedded in him/her which relates to the characteristics of independence, objectivity, honesty and sincerity. The paper concludes that the accountability of a Shariah auditor in halal assurance is believed to result in achieving the conformity with the objectives of the Shariah Islamiah as a whole.

Keywords

Top