SHARIA COMPLIANCE RISK IN ISLAMIC BANK: DOES INDONESIA NEED TO ADOPT NEW SHARIA RISK RATING APPROACH ?

The purpose of this study is to find the most relevant practice of supervision to manage Sharia Compliance Risk in Indonesian Islamic Bank based on the existing literature. The standard doctrinal approach is used to analyse, examine and evaluate the practice of Islamic banking supervision in Indonesia and Islamic banking in Malaysia for comparative purposes. The results revealed that the prior study on Sharia risk rating is applicable to manage Sharia Compliance Risk in Islamic Banks and their factors meet the Basel, AAOOIFI, and IFSB standards. However, there is no assessment made on evaluating the quality of supervision by Sharia Supervisory Board (SSB) members. Thus the study suggested the inclusion of additional factors on the performance of SSB. For Islamic Banking in Indonesia, this sharia risk rating approach can be combined with applicable internal and external risk rating techniques, to provide the promising quality of service and ensure that the offering of various products and services complies with Sharia rules and principles

Understanding reporting boundaries in annual reports: a conceptual framework

PurposeThe purpose of this paper is to enhance conceptual understanding of reporting boundaries in corporate annual reports by developing a conceptual framework of the rules and principles, referred to here as dimensions, underlying boundaries. A total of nine contemporary regulations/guidelines are compared in terms of the boundary dimensions identified to illustrate similarities and differences in boundary concepts.Design/methodology/approachTo develop a conceptual framework of reporting boundary dimensions, academic and industry literature were analysed to identify boundary dimensions. Thereafter, nine contemporary regulations/guidelines were compared in terms of these dimensions. A qualitative approach was taken including document analysis and content analysis.FindingsA total of 10 key boundary dimensions were identified through analysis of academic and industry literature. Each dimension represents a continuum along which regulations/guidelines can position themselves. Taken together, the 10 dimensions provide a comprehensive description of the chosen boundary concept.Originality/valueThe paper contributes to accounting theory by providing a holistic conceptual framework of dimensions relating to reporting boundaries, thus answering calls for more conceptual development of the boundary construct. The conceptual framework and comparison of contemporary regulations/guidelines adds to scarce literature considering financial and non-financial boundaries simultaneously, which is relevant for annual reports. From a practical perspective, the paper brings renewed visibility to boundaries with implications for preparers, users, standard setters and auditors of annual reports.

THE NEXUS BETWEEN LOGIC AND GENERAL STUDIES

Logic, a branch of philosophy, is essentially concerned with one’s ability to reason well. It provides structured rules and principles that act as guides for effective reasoning. As such the correctness or incorrectness of any kind of reasoning can easily be verified by subjecting them to logical techniques and methods. The paper conceptualises general studies as a set of prescribed courses available in a Nigerian tertiary institution, outside a student’s area of specialisation that must be registered for and passed, usually, in the first and second years of study. The essence is to ensure that students experience balanced, rounded education and to ensure that scholarship is made relevant to the pressing needs of the society. The paper locates the bond between logic and general studies based on the fact that logic permeates all the courses taught as General Studies and, indeed, all the courses taught in the university be it medicine, geography, architecture. In a knowledge-based environment, the need for effective communication is critical and inevitable. This means that both in the delivery of knowledge as well as its acquisition, care should be taken to avoid fallacious reasoning and deception by the slippery nature and use of words. It is for this reason that a rudimentary knowledge of logic is a prerequisite for every discipline. The paper adopts an analytical and comparative method. Philosophical analysis and reflection are applied in order to evaluate and highlight the importance of logic to other disciplines. Its comparative character helps to demonstrate why logic, and no any other discipline, is most suited to act as the foundation for all other disciplines. In all, the paper demonstrates that for effective teaching and learning to take place in other disciplines, logic is essential. It also underscores the strong nexus between logic and general studies. Finally, it shows how logic can help in enriching other disciplines.

The New Wars: Terrorism and “Asymmetric” Warfare

The term “new wars” is often used to describe how terrorist groups achieve objectives in addition to the “classic” means of intervention by states. Terrorist organizations use asymmetric methods of warfare to target the weaknesses of Western states. Consequently, conventional wars have also changed into hybrid wars. The legal status of terrorist organizations is a major problem for the rule of law. In responding to terrorist attacks, the distinction between crime and terrorism is difficult. The “war on terror” is governed by different rules and principles and is extremely difficult to wage. Conflicts last a long time and victory against terrorism is rarely possible due to the networked structure of terrorist organizations and the way they intermingle with the population. In addition to an alliance-wide approach, there is a national solution to answer these new threats in form of the comprehensive national defense in Austria.

Individual Roles and Conflicting Moral Obligations: Examples from Corporate and Professional New Zealand

<p>This paper is concerned with the notion of role morality. It attempts to answer the question of how individuals deal with conflicts between role morality and personal convictions. Based upon the answer to this question the paper further attempts to answer the question of how institutions that establish role morality need to proceed in order to ensure that the rules and principles issued by them are actually followed. Finally, the paper takes a look at the situation in professional and corporate societies in New Zealand and the way professional associations and business corporations in New Zealand deal with the fact that obligations under professional and corporate ethics may conflict with the personal convictions of professionals and employees.</p>

Individual Roles and Conflicting Moral Obligations: Examples from Corporate and Professional New Zealand

<p>This paper is concerned with the notion of role morality. It attempts to answer the question of how individuals deal with conflicts between role morality and personal convictions. Based upon the answer to this question the paper further attempts to answer the question of how institutions that establish role morality need to proceed in order to ensure that the rules and principles issued by them are actually followed. Finally, the paper takes a look at the situation in professional and corporate societies in New Zealand and the way professional associations and business corporations in New Zealand deal with the fact that obligations under professional and corporate ethics may conflict with the personal convictions of professionals and employees.</p>

Analisis Kualitas Audit Syariah Perusahaan JII Tahun 2014-2019

The quality of sharia audit is the provision of services performed by auditors to disclose financial statements that are free from material misstatement either caused by fraud committed by the company manager or the independence of auditors who audit the financial statements based on Islamic rules and principles. The purpose of this study is to analysis of the quality of sharia audit based on education, experience, and independence of auditors on the companies listed in the Jakarta Islamic Index. The population in this study is all companies registered in the Jakarta Islamic Index in 2014 - 2019 with sampling method is according to the specified criteria so the number of samples is 53 companies. The results of Logistic Regression Analysis show that the coefficient of determination obtained as 0.574, it means that 57.4% of the quality of sharia audit quality is influenced by education, experience, and independence of auditors. Furthermore, the auditor’s education and auditor’s experience have no effect on the quality of sharia audit. While the independence of auditors significantly affects the quality of sharia audits.How to Cite:Nengsih, T. A., Subhan, M., & Juliana. (2021). Analisis Kualitas Audit Syariah Perusahaan JII Tahun 2014-2019. Akuntabilitas: Jurnal Ilmu Akuntansi, 14(2), 243-254.

Destructive trends in contemporary armed conflicts and the overlooked aspect of intangible cultural heritage: A critical comparison of the protection of cultural heritage under IHL and the Islamic law of armed conflict

The destruction of cultural heritage in armed conflicts has gained increasing political momentum and visibility over the last two decades. Syria, Iraq and Mali, among others, have witnessed the intentional destruction of their cultural heritage by non-State armed groups (NSAGs) that have invoked Islamic law and principles to legitimize their actions. The response of the international community has predominantly focused on the material aspect, to the detriment of the significant impact on the associated intangible manifestation of cultural heritage in local communities. This article argues that several Islamic legal rules and principles may, more adequately than international humanitarian law, safeguard the intangible dimension of cultural heritage in certain contemporary armed conflicts in Muslim contexts. It aims to demonstrate the importance of drawing from multiple legal traditions in order to enhance the protection of intangible cultural heritage in armed conflicts and to strengthen engagement with the relevant NSAGs.

Transboundary Freshwater Ecosystems in International Law

A global water crisis with far-reaching and interconnected environmental, social, health and economic impacts threatens the world. Healthy ecosystems and ecosystem services are degrading, and access to a sustainable water supply is increasingly inequitable both within and between States. This book demonstrates how to overcome the global freshwater ecosystem crisis by matching the scientific recommendations with an international legal framework fit for the task, which re-orientates international water law towards a stronger ecosystem approach that also protects vulnerable societies. It illustrates how to understand the fragmented legally binding and non-binding instruments of the United Nations Economic Commission for Europe environmental treaties as one coherent legal regime, which contributes to strengthening general rules and principles of the law concerning transboundary freshwater ecosystems. With the recent global opening of the UNECE regime, this book explores its potential role within the European region, Central Asia, Caucasus, Africa, the Middle East and beyond.