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Islamic finance institutions need to improve auditing

Posted on 10 May 2012

Auditors of Islamic financial institutions need better training to make sure they can conduct accurate assessments of products and practices, a major industry conference was told this week.
Internal teams of auditors check whether Islamic banks and other financial firms are obeying religious principles. They work with companies’ boards of scholars, who then issue rulings on whether specific financial instruments and activities comply with Shariah law………………………………………..Full Article: Source

 
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