Accounting and Auditing Organization for Islamic Financial Institutions
AAOIFI An accounting and auditing body dedicated to the promotion of Islamic principles for financial institutions. Established in 1991 and headquartered in Bahrain, the AAOIFI is an affiliated member of the *International Federation of Accountants. Its Web site describes its primary focus as the preparation of "accounting, auditing, governance, ethics and Shari’a standards for Islamic financial institutions." Its membership is internationally based, and includes investment banks and accounting organizations. To meet the requirements of Shari’a law and the traditions of *Islamic finance, the AAOIFI issues English-language accounting and auditing standards, details of which are available from the AAOIFI Web site. Web site: www.aaoifi.com

Auditor's dictionary. 2014.

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