Exploring The Suitable Accounting Information For Stakeholders In Waqf Institutions In The Kingdom Of Saudi Arabia: A Field Study  : استكشاف المعلومات المحاسبية الملاءمة لأصحاب المصلحة في المؤسسات الوقفية في المملكة العربية السعودية: دراسة ميدانية

Sauod AL-Dabboos; Anwar Ali  Al-Hamidi; Habibullah  Zakaria; Fahd  Al-Shaghdari

Authors

Sauod AL-Dabboos international islamic university malaysia
Anwar Ali Al-Hamidi PhD Student
Habibullah Zakaria Associate Professor
Fahd Al-Shaghdari Assistant Professor

Keywords:

Waqf Stakeholders, Suitability of Presentation and Disclosure, Waqf Institutions, Saudi Arabia

Abstract

Accounting Standards are usually being developed in order to meet the needs of stakeholders who use the financial statements of entities by providing the information necessary to help them make informed decisions. In Saudi Arabia, there is no existence for specific accounting standards issued to meet the needs of Waqf institutions’ stakeholders of information. This is because Waqf institutions are currently obliged to apply the Presentation and Disclosure Accounting Standards for Non-profitable Entities that issued by the Saudi Organization for Certified Public Accountants (SOCPA). This study aims to explore both; (1) the suitability of the information presented and disclosed in the financial statements for stakeholders in Waqf institutions, and (2) the additional information required by Waqf stakeholders to be presented and disclosed in the financial statements of Waqf institutions. The study follows qualitative research approach based on the Moral Legitimacy Typology to analyze stakeholders’ perceptions of information needs in Waqf financial statements. The study uses Semi-structured interviews with a representative sample of stakeholders in waqf institutions. The study revealed that the information provided by the financial statements of Waqf institutions is insufficient for stakeholders and does not meet many of their information needs. The results also revealed a set of information that stakeholders require to be included in Waqf institutions’ financial statements to fulfill their basic needs.

ملخص البحث
إن الهدف الأساسي من تطوير وإصدار المعايير المحاسبية بشكل عام هو تلبية احتياجات المستخدمين الخارجيين للقوائم المالية من خلال توفير المعلومات الملاءمة لهم واللازمة لمساعدتهم في اتخاذ قرارات مستنيرة ومدروسة. ونتيجة لغياب معايير خاصة بمحاسبة الأوقاف في المملكة العربية السعودية، وكون المؤسسات الوقفية في المملكة ملزمة بتطبيق المعايير الخاصة بمحاسبة المنشآت غير الهادفة للربح، فإن هذه الدراسة تهدف الى استكشاف كلاً من (1) مدى ملاءمة المعلومات المعروضة والمفصح عنها في القوائم المالية بالنسبة لأصحاب المصلحة في المؤسسات الوقفية، (2) متطلبات العرض والإفصاح المحاسبي الملاءمة لأصحاب المصلحة في المؤسسات الوقفية والملبية لاحتياجاتهم من المعلومات وذلك باستخدام منهجية البحث النوعي المبنية على نهج النظرية الشرعية الأخلاقية في تطوير الممارسات المحاسبية من خلال مقابلات شخصية شبه منتظمة مع عينة تمثيلية من المشاركين الممثلين لفئات أصحاب المصلحة في المؤسسات الوقفية في المملكة. حيث كشفت نتائج الدراسة الى أن المعلومات التي تقدمها القوائم المالية للمؤسسات الوقفية بشقيها، العرض والإفصاح، غير كافية لأصحاب المصلحة ولا تلبي العديد من احتياجهم من المعلومات. كما كشفت النتائج على عدد من المتطلبات الإضافية من المعلومات، سواء في جانب العرض او الإفصاح، التي يرى أصحاب المصلحة بضرورة تضمينها في القوائم المالية لتمكينهم من اتخاذ قرارات مستنيرة ومدروسة.

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Author Biographies

Anwar Ali Al-Hamidi, PhD Student

Institute of Islamic Banking and Finance (IIBF), International Islamic University Malaysia (IIUM), Kuala Lumpur, Malaysia.

Habibullah Zakaria, Associate Professor

Institute of Islamic Banking and Finance (IIBF), International Islamic University Malaysia (IIUM), Kuala Lumpur, Malaysia.

Fahd Al-Shaghdari , Assistant Professor

Institute of Islamic Banking and Finance (IIBF), International Islamic University Malaysia (IIUM), Kuala Lumpur, Malaysia.

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