Purpose

The purpose of this paper is to investigate the effects and challenges of the new amendment of International Financial Reporting Standards (IFRS) 9 in Malaysia from the perspectives of regulators, auditors, accountants and academicians in Malaysian Islamic financial institutions. For the purpose of this study, this paper focuses on the recognition criteria perspective of the standard, which provides a basic understanding of the financial reporting framework.

Design/methodology/approach

Using 10 series of semi-structured interviews undertaken with key individuals in regulatory bodies, audit companies, full-fledged Malaysian Islamic Banks and Malaysian higher learning institutions.

Findings

The findings revealed that IFRS 9 strengthens International Accounting Standards 39 in terms of relevance and reliability, recognition of financial instruments and identification of business models. Nevertheless, Islamic financial institutions face challenges in terms of a faithful representation of fair value, substance over form, identification of financial instruments before recognition criteria and the extent of the role of risk management in reducing manipulation in identifying business models.

Research limitations/implications

This study provides implications to regulators and standard setters in Malaysia to enhance the quality of financial reporting framework and practices in Islamic financial institutions in this country using IFRS 9.

Practical implications

Practically, the findings of this study can be used by the regulators to resolve the issues that arise in adopting IFRS 9 among Islamic financial institutions to further enhance financial reporting quality.

Originality/value

The findings of this study are very important to ensure that the adoption of IFRS among Islamic financial institutions are in line with Sharīʿah principles. To date, no studies have been done on the challenges of adopting IFRS 9 among Islamic financial institutions in Malaysia.

中文翻译：

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马来西亚伊斯兰金融机构的IFRS 9的问题和挑战：认可标准的观点

目的

本文的目的是从马来西亚伊斯兰金融机构的监管者，审计师，会计师和院士的角度研究新修订的国际财务报告准则（IFRS）9在马来西亚的影响和挑战。出于本研究的目的，本文着重于该标准的识别标准观点，该观点提供了对财务报告框​​架的基本了解。

设计/方法/方法

通过与监管机构，审计公司，成熟的马来西亚伊斯兰银行和马来西亚高等教育机构的关键人物进行的10次半结构化访谈。

发现

调查结果表明，IFRS 9在相关性和可靠性，金融工具的确认以及商业模式的确定方面加强了国际会计准则39。然而，伊斯兰金融机构在忠实代表公允价值，实质重于形式，在确认标准之前识别金融工具以及风险管理在减少识别业务模型中的操纵作用方面的作用范围方面面临挑战。

研究局限/意义

这项研究为马来西亚的监管机构和标准制定者提供了启示，以使用IFRS 9提高该国伊斯兰金融机构的财务报告框​​架和实践的质量。

实际影响

实际上，监管机构可以使用本研究的结果来解决伊斯兰金融机构采用IFRS 9所产生的问题，以进一步提高财务报告质量。

创意/价值

这项研究的发现对于确保伊斯兰金融机构采用IFRS符合《伊斯兰教义》非常重要。迄今为止，尚未进行关于在马来西亚的伊斯兰金融机构中采用IFRS 9的挑战的研究。