Hisham Yaacob
Lecturer, Universiti Brunei Darussalam, Brunei.
Hairul Suhaimi Nahar
Accounting Section, Malaysia Science University, Malaysia.Accountability in the Sacred Context:
The Case of Management, Accounting and
Reporting For Malaysian Cash Awqaf Institution
Purpose: The concept of accountability has long been argued in the
academic and public policy debate to have contextually ingrained in the
technical processes of accounting and reporting. Both processes provide
lens 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 world and the hereafter, necessitating for the accountability
concept in accounting and reporting from the Islamic worldview to
transcend beyond the point of worldly objectives. Parallel to this line of
reasoning, this study undertake a preliminary empirical investigation
with respect to the management, accounting and reporting practices of
an awqaf management institution, namely the Pahang Cash Awqaf for
the extended six years period running 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 awqaf entity studied, significant improvements remain
necessary to ensure accountability would be continuously uphold.
Originality/value: Debating the accountability concept in the
context of management, accounting and reporting as practiced by the
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 the
banking environment, it helps to reshapes, broadens and emphasizes
the all encompassing relevance of Islamic accounting and reporting, to
that of not-for-profits, religiously grounded entities such as awqaf
institutions. The study also contributes to the accountability and