Abstract:
Based on library work, literature and some primary surveys of opinion data, this article is written
focusing on how far the Shariah Compliant requirements affect accounting practices and the
accountancy profession in Malaysia. This article also identified several issues and challenges faced
by accountants when their company has been classified as a Shariah Approved Company (ShAC)
by Bursa Malaysia. In this article, several basic Shariah principles and voluntary disclosure by
ShAC are highlighted to justify the information needed by the users. The main issue in this article is
mostly related to the role of accountants in preparing financial reporting to be more Islamic,
effective, complete and fair to the users.
