#11765. Independence and effectiveness in internal Shariah audit with insights drawn from Islamic agency theory

July 2026publication date
Proposal available till 20-05-2025
4 total number of authors per manuscript0 $

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Journal’s subject area:
Law;
Organizational Behavior and Human Resource Management;
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Abstract:
This paper aims to examine bases of effectiveness in internal Shariah auditing undertaken in Islamic financial institutions (IFIs). This paper is theoretical in approach taking, as its starting-point, an extensive literature review. From a general agency theory, an Islamic agency theory is articulated and then applied to ascertain attributes of internal Shariah audit effectiveness revolving around the concept of independence. The research propounds that an articulated Islamic agency theory holds potential to serve as a theoretical foundation to build a multi-dimensional conceptual framework based on independence utile for evaluating internal Shariah audit effectiveness. Evidence is drawn strictly from secondary sources. To assure effectiveness of internal Shariah auditing, IFIs ought to increase the level of independence of internal Shariah auditors. Internal Shariah audit effectiveness in IFIs has not been extensively studied in comparison with both studies of external Shariah audit effectiveness in IFIs and internal audit effectiveness undertaken by conventional financial institutions.
Keywords:
Effectiveness; IFIs; Independence; Internal Shariah audit; Islamic agency theory

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