اسلامی مالیاتی نظام کی ترویج میں اکاؤنٹنگ اینڈ آڈٹنگ آرگنائزیشن برائے اسلامی مالیاتی ادارے (بحرین) کی خدمات کا جائزہ
Services of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIF (in the promotion of Islamic Financial System
Abstract
Ijtihad is a scientific tool of Islamic jurisprudential science that seeks to resolve emerging problems or to discover the Shari'ah rulings in newly created situations and difficulties. Collective Ijtihad as well as institutional based ijtihad is a type of consultation and mutual consultation in which multiple jurists and scholars jointly consider the issue and reach a decision after mutual debate and discussion. In the efforts being made to present the Islamic finance system should be greater uniformity globally under the principles and objectives of sharia in the procedures, rules, and regulations and practical implementation of the system of tamarind and banking.
Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is one of the most prominent international non-profit organizations supporting Islamic financial institutions. It was established in 1991 A.D (1419A.H) in the Kingdom of Bahrain. AAOIFI develops standards in five very specific areas; Shariah, accounting, auditing, governance, and ethics. AAOIFI has three independent technical boards – Accounting board (AAB), Shari’ah board (ASB) and Governance and Ethics board (AGEB). Standards Development is the primary activity of AAOIFA, and there are currently 117 standards and technical statements under consideration. This includes 60 Shariah standards, 31 accounting standards, 8 audit standards, 15 governance standards, and 3 ethical rules. These standards are developed and issued to achieve the Authority's general objectives in unifying and harmonizing international Islamic finance practices and financial reporting, in accordance with the principles and rules of Islamic Sharia, in order to support the growth and expansion of the Islamic finance industry worldwide. The Shariah standards bring uniformity with respect to Shariah principles and rules, and this sets the foundation for other standards. It has highly influential professional achievements, foremost of which is the issuance of standards. In a group of countries as being mandatory or indicative, the Authority is also supported by a number of member institutions, including central banks, supervisory authorities, financial institutions, accounting and auditing firms, and legal offices from more than 45 countries. The standards are currently applied by leading Islamic financial institutions around the world, which provided an advanced degree of regularity for Islamic financial practices worldwide. AAOIFI standards are either partially or fully adopted and / or used as guidelines globally.
