Amalan dan Keperluan Pembentangan dan Pendedahan Penyata Kewangan bagi Majlis Agama Islam Negeri di Malaysia

Abstract

This study examines the practice and inancial reporting requirements of the State Islamic Religious Councils (SIRCs) of ive states in Malaysia using a case study approach. Two data collection methods are used, namely document review and semi-structured interviews. Review of the SIRCs’ annual reports for the inancial years 2016 and 2017 is made by comparing the SIRCs’ current practice of inancial reporting and disclosure with respect to nine MPSAS (Malaysian Public Sector Accounting Standards) related to the presentation and disclosure of inancial statements. In addition, this study reviews and examines the Enactments/Ordinance of the Administration of Muslim Religious Affairs of each state. This is followed by interviews with fourteen respondents who are directly or indirectly involved in the preparation of the SIRCs’ inancial statements. Apart from that, consultation sessions with experts in Shari’ah, Muamalat or Islamic Economics, Law and Accounting/ Islamic Accounting have also been held. This study inds that not all transactions or items of the nine MPSAS exist in all SIRCs. However, all SIRCs prepare Separate and Consolidated Financial Statements. They also prepare Disclosure of Interests in Other Entities. Nevertheless, none of the SIRCs prepares Disclosure of Financial Information pertaining to General Government Sector and Joint Arrangements. After this, the study outlines the requirements of the proposed PPIIBZW that may be used as guidelines for the presentation and disclosure of SIRCs’ inancial statements. In conclusion, this study proposes certain recommendations aimed at improving the inancial statements of SIRCs. It is expected that the indings of the study could be able to assist relevant parties such as a SIRC and Accountant General’s Department of Malaysia in developing an accounting conceptual framework, as well as the accounting standards that suit SIRC. Keywords: Financial Statements, Accounting Standards, State Islamic Religious Council, Case Study, Malaysia