A carregar...
Publicação
The Value-Added Requirements of the Internal Audit Function and Its Challenges in Islamic Banks: A Theoretical Study
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 565.94 KB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
This study is a theoretical literature review that examines the value-added requirements of the internal audit function in Islamic banks and the challenges associated with performing this role. It systematically reviews and synthesizes previous academic studies, professional reports, and regulatory guidelines through a structured process of identifying, selecting, and analyzing relevant literature. The review explores the concept of value-added, the risk-based approach to internal auditing, and the prerequisites for enabling internal audit to add value. The study highlights the internal audit’s contributions to governance, internal control, risk management, and stakeholder value creation. To evaluate this contribution, the study references commonly identified indicators in the literature that specifically measure the extent of the internal audit’s added value, including auditor competencies, risk mitigation, cost efficiency, and stakeholder satisfaction. At the same time, the review gathers evidence on the key challenges hindering value creation. These include structural constraints, such as limited auditor independence and weak governance frameworks; a shortage of professionals with dual expertise in Shariah and auditing; technological constraints, such as outdated tools and a lack of IT training; and conceptual ambiguity around whether internal audit should operate primarily as a compliance mechanism or as a strategic partner. The study concludes with recommendations drawn from the literature, emphasizing the adoption of unified standards, the development of dual competencies, investment in capacity building, technological advancements, and strategic alignment with financial and Shari’ah objectives. Together, these reforms can enable internal audit to serve as a true value-adding partner for Islamic financial institutions.
Descrição
Palavras-chave
Internal audit Risk-based internal audit (RBIA) Value-added Islamic banks
Contexto Educativo
Citação
Attaf, W. F., & Bensbahou, A. (2025). The Value-Added Requirements of the Internal Audit Function and Its Challenges in Islamic Banks: A Theoretical Study. Dutch Journal of Finance and Management, 8(2), 37593. https://doi.org/10.55267/djfm/17229
Editora
IADITI Editions