05-14-2003, 04:42 AM
In the context of foregoing, however, following questions come to mind
1) Are the Auditors, who are unaware of Shariah Requirements, can certify any financial product;
2) Are professional institutes who are responsible for Accounting & Audit education and certification in Pakistan, taking reasonable steps to train their professionals for such certification??
3) When it comes to any specific law regime, it may mean the "law of the land" but when it comes to Shariah, law always means the "divine law". When and if Auditors certifiy any financial activity (which is subject to Shariah)to be according to law, do they really certify it to be as per "divine law"??
4) What contents about "Shariah" related financial transactions are included in syllabi of ICAP or ICMAP?
5) At present volume of "Islamic Banking" & "Business" transactions is about US$ 200 Billion, with 15% growth. Anybody can search the web and would be left with a spinning head that how much work & research is being done in outsite world. What are our policy makers doing??
1) Are the Auditors, who are unaware of Shariah Requirements, can certify any financial product;
2) Are professional institutes who are responsible for Accounting & Audit education and certification in Pakistan, taking reasonable steps to train their professionals for such certification??
3) When it comes to any specific law regime, it may mean the "law of the land" but when it comes to Shariah, law always means the "divine law". When and if Auditors certifiy any financial activity (which is subject to Shariah)to be according to law, do they really certify it to be as per "divine law"??
4) What contents about "Shariah" related financial transactions are included in syllabi of ICAP or ICMAP?
5) At present volume of "Islamic Banking" & "Business" transactions is about US$ 200 Billion, with 15% growth. Anybody can search the web and would be left with a spinning head that how much work & research is being done in outsite world. What are our policy makers doing??
