e-journal

Accountability in the sacred context

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Purpose – The concept of accountability has long been argued in the academic and public policy
debate to have been contextually ingrained in the technical processes of accounting and reporting.
Both processes provide lenses through which the extent of managerial accountability in the corporate
context could be objectively examined. The sacred religion of Islam as a social order with a complete
code of life classifies accountability as being dual; in line with the duality concept in life – in this
temporal world and eternal hereafter, necessitating for accountability concept in accounting and
reporting from the Islamic worldview to transcend beyond the point of worldly objectives. Parallel to
this line of reasoning, the purpose of this paper is to undertake a preliminary empirical investigation
with respect to accounting, reporting and accountability practices of a Malaysian cash awqaf (Islamic
endowment) management institution over a six-year period, from 2000 to 2005.
Design/methodology/approach – The paper uses triangulation research approach, consisting of
case study method and archival documentation review and analysis.
Findings – The preliminary findings indicate that, while the root of accountability in the
management, accounting and reporting practices seems to exist in the awqaf entity studied,
significant improvements remain necessary to ensure accountability could be continuously enhanced
and uphold.
Originality/value – Debating accountability concept in the context of management, accounting and
reporting as practiced by faith-based institution of awqaf from the Islamic perspective inevitably
directs this study to highlight the notion of Islamic accounting and reporting commonly and
extensively discussed in the realm of Islamic finance and banking. The study’s conjecture is that,
by debunking the myth of Islamic accounting and reporting as only serving the acute domain of
transactions reflecting the Islamic financial products in banking environment, it helps to reshape,
broaden and emphasize the all encompassing relevance of Islamic accounting and reporting to that of
not-for-profits, religiously grounded entities such as awqaf institutions. The study further contributes
to the accountability and financial reporting literature in Islamic not-for-profit organizations by
studying the importance of sound accounting practices and reporting transparency in ensuring
accountability.

Keywords Islam, Finance, Banking, Accountability, Accounting, Reporting, Awqaf,Mutawallis (awqaf trustees), Non-profit organizations

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Ketersediaan

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Informasi Detail

Judul Seri

Journal of Islamic Accounting and Business Research

No. Panggil

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Penerbit

: Emerald Group., 2011

Deskripsi Fisik

Journal of Islamic Accounting and Business Research Vol. 2 No. 2, 2011 pp. 87-113

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

AKUNTANSI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati/Syahrial

Versi lain/terkait

Lampiran Berkas

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