topic: accounting and reporting practices for islamic …€¦ · · 2015-03-17to register for...
TRANSCRIPT
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About the Lecture
In an ideal world, the accounts of all Islamic banks would be completely comparable, due to being drawn up under the same accounting standards which would be implemented consistently by all banks.
In reality Islamic banks account under different sets of accounting standards. Most account under International Financial Reporting Standards (IFRS) promulgated by the International Accounting Standards Board (IASB), while some account under standards promulgated by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). Meanwhile American Islamic financial institutions will use US GAAP promulgated by the Financial Accounting Standards Board (FASB). Furthermore banks differ in the way that they and their auditors apply these standards.
Mohammed Amin will look at the some of the differences between the standard setting institutions, and what they are doing to achieve greater consistency. He intends to illustrate this with concrete examples of actual Islamic bank accounting.
About the Speaker
Mohammed Amin is an Islamic finance specialist, with a particular interest in accounting issues and in how Islamic finance is treated in tax and regulatory systems. For 19 years until the end of 2009, Amin was a partner in PricewaterhouseCoopers LLP and led PwC’s Islamic Finance practice in the UK as well as being a member of PwC’s four-person Global Islamic Finance Leadership Team and an elected member of PwC’s Supervisory Board.
Amin is a member of the Editorial Advisory Board of “NewHorizon” - the Institute’s official magazine. He regularly contributes articles and book chapters on Islamic finance to a range of professional and industry publications as well as writing about Islamic finance on his personal website www.mohammedamin.com
Amin has spoken on Islamic finance on every continent except Antarctica!
Wednesday, 22nd April 2015 Time : 6.15pm
Topic: Accounting and Reporting Practices
for Islamic Banks in the UK and overseas Speaker: Mohammed Amin
Venue: EY1 More London Place, London, Greater London, SE1 2AF (The venue is near the London Bridge Underground Station) (MAP)
www.islamic-banking.com
Help ye one another in righteousness and piety
The Holy Qu’ran 5:2
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