Accounting in Islamic banks: evidence for IAS-IFRS/FAS convergence in an exploratory study of Islamic banks in the Gulf region
Résumé
In spite of the AAOIFI's own FASs, which are designed for Islamic finance and its need to comply with Sharia law, the IAS-IFRS standards are still applied by many Islamic banks. Our research addresses the degree of agreement between the IAS-IFRS and the FAS through an exploratory study which provides a comparative analysis of the financial statements of Islamic banks in the Gulf region, using these two different systems. The results of our research show a genuine technical convergence, but at the same time a number of significant divergences re-garding the structure of the balance sheet and the cash-flow analysis