The Effect Of Shariah Principles on Accounting Methods for Islamic Banks
04 Jan 2011
Further to our story published yesterday, we make available a presentation by Daud Vicary Abdullah, Deloitte's Global Islamic Finance Leader.
- Exclusivity: Live side by side with its conventional counterpart; all Islamic financial institution transactions will be recorded by way of Islamic accounting
- Harmonisation: International Financial Reporting Standards (IFRSs) are fine tuned; then certain exemptions are allowed/disallowed
- Convergence: Applying IFRS in every aspect