Certified External Shari'ah Auditor: study modules
Three short modules on external Shari'ah audit, from the engagement to the auditor's report
Introductory · 3 hours · 9 lessons · Language: English and Arabic · ID: IFS-COU-0012
An external Shari'ah audit gives shareholders, investment account holders and regulators an independent view from outside an Islamic financial institution on whether it has complied with Shari'ah. These three short modules explain, in plain language, what the engagement is and what compliance is measured against, how the auditor gathers evidence and uses the work of others, and how the short and long form reports and modified opinions work.
Each module has a reading with a worked example, slides, study notes and a short practice quiz. The modules prepare you for the Certified External Shari'ah Auditor exam.
This is independent ifSPACE material written in its own words; it is not affiliated with AAOIFI and is not a fatwa.
What you will learn
- Explain what an external Shari'ah audit is, who performs it, the two engagement types and the hierarchy of criteria
- Describe how the auditor uses materiality, sampling, written representations and the work of others
- Describe the short and long form reports, when the opinion is modified, and how the work links with the SSB's report
Syllabus
1.What external Shari'ah audit is
- The engagement, the auditor and the criteria20 min
- Module 1 presentation15 min
- Module 1 practice quiz10 min
2.Gathering evidence
- Materiality, sampling, representations and the work of others20 min
- Module 2 presentation15 min
- Module 2 practice quiz10 min
3.Reporting the results
- Short and long form reports, modified opinions and the SSB's report20 min
- Module 3 presentation15 min
- Module 3 practice quiz10 min