● AAOIFI Objectives:

The objectives of AAOIFI are:

   1.  to develop accounting and auditing thoughts relevant to Islamic financial institutions;

   2.  to disseminate accounting and auditing thoughts relevant to Islamic financial institutions and its applications through training, seminars, publication of periodical newsletters, carrying out and commissioning of research and other means;

   3.  to prepare, promulgate and interpret accounting and auditing standards for Islamic financial institutions; and

   4.  to review and amend accounting and auditing standards for Islamic financial institutions.

AAOIFI carries out these objectives in accordance with the precepts of Islamic Shari’a which represents a comprehensive system for all aspects of life, in conformity with the environment in which Islamic financial institutions have developed. This activity is intended both to enhance the confidence of users of the financial statements of Islamic financial institutions in the information that is produced about these institutions, and to encourage these users to invest or deposit their funds in Islamic financial institutions and to use their services.

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