Shari'ah Internal and External Audit Quest
Plan, test, report and assure Shari'ah compliance like a practising auditor
Intermediate · 6 hours · 11 lessons · Language: English and Arabic · ID: IFS-COU-0079
Shari'ah approved by Mufti Syed Zahid Siraj, Chief Shari'ah Advisor
USD 15Original price USD 30
Included in the annual membership.
No expiry
Step into the shoes of a Shari'ah auditor and follow one fictional Islamic bank through a full year of internal and external Shari'ah audit. This gamified course goes a step beyond the basics of AAOIFI governance and auditing standards in five interactive missions built on realistic bank situations, controls and figures. In each one you flip learning cards, make decisions in short scenarios, race through true-or-false rounds, match terms, put steps in order, sort strong practice from weak, and finish with a final challenge where you have three lives. You earn XP, keep streaks, collect stars and unlock a badge for every mission.
The missions:
- Who checks what
- Planning the audit year
- In the field
- Findings that change things
- The outside view
After each mission a short recap sums up what you unlocked, with the references. When all five badges are yours, take the final exam: 30 questions in 60 minutes, 70% to pass.
This course is independent educational material written by ifSPACE in its own words. It does not reproduce AAOIFI texts, is not affiliated with AAOIFI and is not a fatwa.
What you will learn
- Distinguish the roles of the Shari'ah supervisory board, the compliance function, internal Shari'ah audit and external Shari'ah audit, and protect auditors' independence and reporting lines.
- Build a risk-based internal Shari'ah audit plan, scope a product audit, turn SSB rulings and AAOIFI standards into tests and design a reliable sample.
- Test murabahah, ijarah, tawarruq and profit distribution transactions with strong evidence, and recognise the red flags of non-compliance.
- Grade findings, trace root causes, follow the purification of non-compliant income and track management actions through to closure and reporting.
- Explain how an external Shari'ah audit is engaged, performed and reported, how it uses internal audit's work and how its opinion sits beside the SSB's report.
Syllabus
Log in or create a free account to watch previews.
1.Mission 1: Who checks what
- How this quest worksFree preview5 min
- Mission 1: Who checks whatFree preview25 min
- Recap: Who checks what10 min
2.Mission 2: Planning the audit year
- Mission 2: Planning the audit year25 min
- Recap: Planning the audit year10 min
3.Mission 3: In the field
- Mission 3: In the field25 min
- Recap: In the field10 min
4.Mission 4: Findings that change things
- Mission 4: Findings that change things25 min
- Recap: Findings that change things10 min
5.Mission 5: The outside view
- Mission 5: The outside view25 min
- Recap: The outside view10 min