External Shariah Audit
Based on Auditing Standard for Islamic Financial Institutions (ASIFI) No. 6 (Section 8), External Shari’ah Audit is “an independent assurance engagement to provide reasonable assurance that an IFI complies with the ‘Shari’ah principles and rules’ applicable to its financial arrangements, contracts and transactions during a specific period based on a specific set of ‘Shari’ah principles and rules’ contained in the criteria”.
At RAMZEE & CO., we provide outsourcing or co-sourcing of External Shariah Audit to assist the Islamic Financial Institutions (IFIs) to comply with the ASIFI requirement on External Shariah Audit as to provide reasonable assurance that related transactions, activities, and internal control systems conform to Shariah principles and related guidelines. Our qualified Shariah Adviser and Shariah Auditors are experienced in Islamic Banking industry will assist your company in the Shariah Audit.