AAOIFI Standards

The Accounting and Auditing Organization for Islamic Financial Institutions(AAOIFI) is an Islamic international autonomous non-for-profit corporate body that prepares accounting, auditing, governance, ethics and Shari'a standards for Islamic financial institutions and the industry. Professional qualification programs (notably CIPA, the Shari'a Adviser and Auditor "CSAA", and the corporate compliance program) are presented now by AAOIFI in its efforts to enhance the industry's human resources base and governance structures.

Standards that have been developed by AAOIFI are as follows and can be obtained from the AAOIFI website:

• Accounting, Auditing & Governance Standards (for Islamic Financial Institutions):

25 Accounting Standards, 5 Auditing Standards, 7 Governance Standards and 2 codes of ethics, 2010

• Shari'a Standards:

41 Shari'a Standards, 2010