| Autor: |
Yasoa, M. R., Muhamad, S. F., Abdullah, T., Yusoff, M. N. H., Said, N. M., Zainuddin, S. A., Nasir, N. A. M. |
| Předmět: |
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| Zdroj: |
Journal of Finance & Banking Review (JFBR); 2021, Vol. 6 Issue 3, p144-153, 10p |
| Abstrakt: |
Objective - This paper investigates the possibility and feasibility of Malaysia's Islamic banking industry hiring external Shariah audit (ESA) services in the audit fraternity as one of the Shariah governance mechanisms. Some of the scholars argued that ESA is more independent and is able to strengthen the existing Shariah compliance in the industry. Methodology - This study employs a qualitative method by utilising semi-structured interviews with nine key industry players: Shariah auditors, Heads of Shariah audit, Shariah Committee (SC) Member, and Chief Shariah Officer. Data gathered from the interviews was transcribed and analysed using Atlas.ti software. Findings-A series of interviews reveal that given the current practices by the Islamic banking industry, it could be inferred that the Malaysian Islamic banking industry is not ready to exercise the ESA practices. This unreadiness is due to several factors, such as ESA costs outweighing its benefits, the fear of reputational risk, and anxiety of leaking confidential information to rivals. Novelty - The Shariah audit research especially relates to external Shariah audit is considered limited. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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