AAOIFI publishes work plan for Islamic accounting and governance standards
The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) has published an overview of the current status of its work on accounting and governance standards.
In a response to media reports about its activities (link to AAOIFI website) the AAOIFI has provided the following current status and expected dates:
|Topic||Consultation Note||Exposure Draft(s)||Final Standard(s)|
|Review of accounting standard on Investments in Real Estate||released in January 2012||expected second half of 2012|
|Review of accounting standards on Investment Accounts||released in January 2012||expected second half of 2012||expected first half of 2013|
|Review of accounting standards on Takaful||expected second half of 2012||from first half of 2013||from second half of 2013|
|Development of new Governance Standard for Shari’a Supervisory Board||expected second half of 2012||expected first half of 2013||expected second half of 2013|
More information on developments in Islamic accounting is available on our dedicated IAS Plus resource page.