Conceptual framework of internal Shariah audit effectiveness factors in Islamic banks
Purpose-the main purpose of this research is to figure out the most effective determinants that play a vital role in enhancing the effectiveness of the internal shariah audit in the Islamic banking industry. design / methodology/approach-this paper reviews the existing literature to build comprehens...
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Veröffentlicht in: | ISRA international journal of Islamic finance 2020-01, Vol.12 (2), p.171-193 |
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Format: | Artikel |
Sprache: | eng |
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Zusammenfassung: | Purpose-the main purpose of this research is to figure out the most effective determinants that play a vital role in enhancing the effectiveness of the internal shariah audit in the Islamic banking industry. design / methodology/approach-this paper reviews the existing literature to build comprehensive knowledge that would assist in determining the main factors that impact on the effectiveness of shariah audit in Islamic banks. findings-this research proposes a conceptual framework of factors that impact on shariah audit effectiveness in ibs based on previously published studies. the proposed framework includes external and internal factors as well as internal shariah audit structure, process and requirements. practical implications-first, the regulators need to provide a detailed framework for shariah audit which covers the main requirements for effective shariah governance. second, Islamic financial institutions(IFIS) need to pay more attention to following the shariah audit process in order to achieve the objective of effective shariah governance. finally, the dearth of empirical research on the role and effectiveness of sharīʿah audit in Islamic banking highlights the need to develop an appropriate methodology to enhance the study of the effectiveness of shariah governance practices. originality/value-the shariah ensures compliance with its rules and regulations and enhances the soundness and credibility of the Islamic finance industry. this study identifies a number of issues that require further investigation in order to establish a better system of shariah audit and to identify the factors that affect shariah auditing practices. this paper is unique in covering the main elements that have influence on the effectiveness of shariah audit and proposes them in one framework. |
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ISSN: | 0128-1976 2289-4365 |
DOI: | 10.1108/IJIF-09-2018-0097 |