Purpose – The objective of this paper is to determine the level of compliance with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) accounting standards by Islamic banks of Bahrain. Design/methodology/approach – The paper is based on diffusion of innovation theory whereby the perceived relative advantage, compatibility, complexity, trialability and observ…
Purpose – The purpose of this paper is to determine the need of Islamic Accounting Standards – a review of the literature – for Islamic financial institutions (IFIs). Design/methodology/approach – The basis of the paper was stakeholder theory to analyse the need of accounting standards and to design the conceptual framework as evidenced fromAccounting andAuditing Organization for Is…