Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI)

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is an independent global body that sets standards for accounting, auditing, and governance in Islamic finance. Established in 1991, it aims to ensure that Islamic financial activities comply with Shariah (Islamic law) principles. AAOIFI develops guidelines and standards that help institutions maintain transparency, accountability, and consistency in financial reporting. By doing so, it fosters trust among investors and promotes the growth of the Islamic finance industry worldwide.