Shariah audit is becoming an important pillar in Islamic finance with Malaysia spearheading the process with its recent Shariah Governance Framework. The IFSB Standard has set up Shariah and Governance Standards for Islamic Finance Intuitions. The Audit and Accounting Organisation for Islamic Finance (AAOIFI) based in Bahrain has also established governance standard and accounting. These developments shows the importance of this emerging discipline as Shariah audit creates confidence in the organisation and in the public as well as. The Shariah Review Certificate is becoming an important document when coupled with the accountants audit certificate in some jurisdictions such as Bahrain. It often forms an integral part of the annual finance report of Islamic Finance Institutions.
Our Shariah audit services cover the following areas:
- Shariah review and audit (We verify the shariah compliance of the various aspects of your organisation)
- Issuing the Shariah Review Certificate
- Drafting of the Sariah Supervisory Board Constitution
- Providing of internal Shari’ah audit personnel
- Screening of Islamic Investment funds
- Vetting of sukuk documents, Takaful and Retakaful Contracts, Islamic Banking Contracts