Study reflects the base line knowledge from studying and reviewing the corporate governance and accountability through the lens of Islamic prescribed legislation codes of conduct
This presentation provide a brief introduction of hadith, historyh of its compilation its authority. It provides evidence of hadith being wahi as well and blessing for those who follows hadith and punishment for thhose who does not.
what the holy Quran says about Muslim women,how prophet Mohammed(saw) treated Muslim women ,what are the traditions which emphasizes the high status of Muslim women in Islam.
This word file will give you a descriptive introduction on the Pillars of Islam; And for the Brief introduction on the Pillars of Islam you can see a powerpoint file I have upload with the same name.
If you any kind of mistake or anything please don't hesitate to email me.
Thank you!
Last Sermon of Prophet Mohammad (PBUH) is very comprehensive. While it aims at developing a social system based on justice, it underlines a balanced family life, individual accountability and spiritualism by keeping relationship with Allah, and duty of each individual to communicate the right knowledge to others.
Islam looks at life as indivisible whole, and (unlike various dogmas) does not artificially split life into secular (political, social, economic etc.) and religious (prayer, supplications, customs) domains.
Its about importance and significance of Islamic Civilization, Social and Moral influence of Islamic civilization, Clash of civilization ,causes & influence of Clash of civilization and Causes of Clash of Civilization... A detailed informative PDF from which u can get enough info..
:)
What are the salient features of the Objective Resolution ?
What is the worth of Objective Resolution in Pakistan’s Political and constituent history?
Attributes of the Objective Resolution
Worth of Objective Resolution
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
This presentation provide a brief introduction of hadith, historyh of its compilation its authority. It provides evidence of hadith being wahi as well and blessing for those who follows hadith and punishment for thhose who does not.
what the holy Quran says about Muslim women,how prophet Mohammed(saw) treated Muslim women ,what are the traditions which emphasizes the high status of Muslim women in Islam.
This word file will give you a descriptive introduction on the Pillars of Islam; And for the Brief introduction on the Pillars of Islam you can see a powerpoint file I have upload with the same name.
If you any kind of mistake or anything please don't hesitate to email me.
Thank you!
Last Sermon of Prophet Mohammad (PBUH) is very comprehensive. While it aims at developing a social system based on justice, it underlines a balanced family life, individual accountability and spiritualism by keeping relationship with Allah, and duty of each individual to communicate the right knowledge to others.
Islam looks at life as indivisible whole, and (unlike various dogmas) does not artificially split life into secular (political, social, economic etc.) and religious (prayer, supplications, customs) domains.
Its about importance and significance of Islamic Civilization, Social and Moral influence of Islamic civilization, Clash of civilization ,causes & influence of Clash of civilization and Causes of Clash of Civilization... A detailed informative PDF from which u can get enough info..
:)
What are the salient features of the Objective Resolution ?
What is the worth of Objective Resolution in Pakistan’s Political and constituent history?
Attributes of the Objective Resolution
Worth of Objective Resolution
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
A Stakeholder Approach to CorporateSocial Responsibility .docxannetnash8266
A Stakeholder Approach to Corporate
Social Responsibility: A Fresh Perspective
into Theory and Practice Dima Jamali
ABSTRACT. Stakeholder theory has gained currency in
the business and society literature in recent years in
light of its practicality from the perspective of managers
and scholars. In accounting for the recent ascendancy
of stakeholder theory, this article presents an overview
of two traditional conceptualizations of corporate
social responsibility (CSR) (Carroll: 1979, ‘A Three-
Dimensional Conceptual Model of Corporate Perfor-
mance’, The Academy of Management Review 4(4), 497–505
and Wood: 1991, ‘Corporate Social Performance
Revisited’, The Academy of Management Review 16(4),
691–717), highlighting their predominant inclination
toward providing static taxonomic CSR descriptions.
The article then makes the case for a stakeholder approach
to CSR, reviewing its rationale and outlining how it
has been integrated into recent empirical studies. In light
of this review, the article adopts a stakeholder framework
– the Ethical Performance Scorecard (EPS) proposed by
Spiller (2000, ‘Ethical Business and Investment: A Model
For Business and Society’, Journal of Business Ethics 27,
149–160) – to examine the CSR approach of a sample
of Lebanese and Syrian firms with an interest in
CSR and test relevant hypotheses derived from the
CSR/stakeholder literature. The findings are analyzed
and implications drawn regarding the usefulness of a
stakeholder approach to CSR.
KEY WORDS: corporate social responsibility (CSR),
stakeholder theory, Lebanese and Syrian context
Introduction
The topic of the social responsibilities of business has
been a subject of intense controversy and interest
over the past three decades. In part, this debate is an
outgrowth of the proliferation of different concep-
tualizations of corporate social responsibility (CSR).
The term CSR has indeed been defined in various
ways from the narrow economic perspective of
increasing shareholder wealth (Friedman, 1962), to
economic, legal, ethical and discretionary strands of
responsibility (Carroll, 1979) to good corporate
citizenship (Hemphill, 2004). These variations
stem in part from differing fundamental assumptions
about what CSR entails, varying from concep-
tions of minimal legal and economic obligations
and accountability to stockholders to broader
responsibilities to the wider social system in which a
corporation is embedded.
Resulting from these divergent fundamental
assumptions is a lingering skepticism in the field of
business and society, inviting Frankental (2001) to
argue for example that ‘‘CSR is a vague and
intangible term which can mean anything to any-
body, and therefore is effectively without meaning.’’
The confederation of British industry has similarly
argued that ‘‘CSR is highly subjective and therefore
does not allow for a universally applicable
definition.’’ Social responsibility has been variously
.
Beyond Legitimacy A Case Study in BP’s ‘‘Green Lashing’’SChantellPantoja184
Beyond Legitimacy: A Case Study in BP’s ‘‘Green Lashing’’
Sabine Matejek • Tobias Gössling
Published online: 31 December 2013
� Springer Science+Business Media Dordrecht 2013
Abstract This paper discusses the issue of legitimacy and,
in particular the processes of building, losing, and repairing
environmental legitimacy in the context of the Deepwater
Horizon case. Following the Deepwater Horizon catastrophe
in 2010, BP plc. was accused of having set new records in the
degree of divergence between its actual operations and what
it had been communicating with regard to corporate
responsibility. Its legitimacy crisis is here to be appraised as a
case study in the discrepancy between symbolic and sub-
stantive strategies in corporate greening and its communi-
cation. A narrative analysis of BP’s ‘‘beyond petroleum’’-
rebranding and the ‘‘making this right’’-campaign issued in
response to the Gulf of Mexico disaster discusses their
respective implications for (green) corporate change. Fur-
ther, the question is addressed why BP’s green image
endeavors were so widely accepted at first, only to find
themselves dismissed as corporate greenwashing now. The
study concludes that where a corporation’s ‘‘green narra-
tive’’ consistently evokes established narratives, its legiti-
macy will be judged against narrative, rather than empirical
truth. Thus, the narrative will be more willingly accepted as
speaking for the issuing company’s legitimacy, irrespective
of whether it reflects substantive greening or not.
Keywords Corporate environmental responsibility �
Impression management � Narrative analysis � Corporate
communication � Image crisis � BP
Introduction
Legitimacy as a social construct that relates the impression
of the audience concerning the behavior and actions of
organizations with approval or disapproval is a central
topic in institutional organization theory (Suchman 1995).
In that context, two different discussions about legitimacy,
although highly related with each other, can be discerned:
On the one hand, research discusses the consequences of
legitimacy; on the other hand, the question is on the
antecedents of legitimacy, also translated to the managerial
perspective and related to the question what organizations
(can) do to build, maintain or lose and repair their legiti-
macy. Both perspectives are dealt with in the seminal work
by Mark Suchman (1995) who defines legitimacy as ‘‘a
generalized perception or assumption that the actions of an
entity are desirable, proper, or appropriate within some
socially constructed system of norms, values, beliefs, and
definitions’’ (ibid, p. 574). In his work, Suchman distin-
guishes between three essential types of legitimacy, i.e. (1)
pragmatic legitimacy, related to the products and services
that an organization offers and the perception of these to be
relevant for the society, (2) moral legitimacy, based upon
actions and behavior of the respective ...
The contribution of corporate social responsibility to sustainable developmen...AJHSSR Journal
ABSTRACT : Corporate social responsibility (CSR) is a broad term used in business. It usually describes a
company's commitment to conducting its business in an ethical manner. And sustainable development is
development that meets the needs of the present without compromising the ability of future generations to meet
their own needs. This study investigates how Bank Islam Brunei Darussalam (BIBD provides corporate social
responsibility through sustainable development. The study adopts a qualitative method of research. The study
reveals that provides Corporate Social Responsibility (CSR) which are BIBD Catalyst, BIBD "Special
Entrepreneurial Empowerment & Development Scheme" (BIBD SEED), BIBD Advocating Life-Long Learning
for an Aspiring Future (BIBD ALAF) and the commendable "Community for Brunei".
Keywords: Sustainable Development, Corporate Social Responsibility, Bank Islam Brunei Darussalam (BIBD),
Covid-19.
The aim of this research is to find the impact of return on assets (ROAs), return on equity (ROE), and return on investment (ROI) on the corporate social responsibility index (CSRI) among US-based firms. Research on the correlation between corporate social responsibility (CSR) and key financial metrics, including ROAs, ROE, and earnings per share (EPS), is available. A inadequate of studies also includes the CSRI in their analyses of the 1000 publicly traded US corporations in the Russell 1000 database. The researcher conducted a quantitative study utilizing Pearson’s correlation coefficient and multiple linear regression (MLR) analysis. The study indicated a statistically significant correlation between CSRI and ROE but no such correlation between CSRI and ROA or ROI. A total of 133 people made up the sample for this investigation. This research study adds to the existing body of knowledge by examining the relationship between CSRI and ROA, ROE, and ROI for US companies. It also helps close a gap in the literature by providing evidence for both statistically significant and nonsignificant relationships.
Brennan, Niamh M. [2010] “A Review of Corporate Governance Research: An Irish...Prof Niamh M. Brennan
An overview of corporate governance is provided in this chapter, commencing with a discussion of alternative definitions of governance. Internal and external mechanisms of governance are described. The role of boards of directors, and theories explaining those roles, are also considered. In order to provide some insights into governance research, 15 academic papers with an Irish angle were selected for analysis, by reference to theoretical perspective, governance mechanism studied, research method adopted and results. The analytical table demonstrates the variety of research conducted. Some concluding comments are then drawn.
E-BOOK GUIDE FOR TRANSFORMATION MANAGERS.Farooq Omar
Numerous leadership groups have figured out how to convey results over the previous decade without embracing the most recent innovation pattern. Yet, on:-
the off chance that the pandemic disturbance has shown one exercise, it's that associations working with inheritance framework and simple cycles will battle to meet the assumptions for clients who've been compelled to go advanced.
Creative destruction Economics, Business and ValuesFarooq Omar
In Economic space, the expression, "Move quick, break things" is a horrible method to sort out an economy… Though it is done more often than not through sudden changes in 'Financing costs' which swells through the whole worth chain, at first dangerous however deliberately helpful (for the most part).
Frequently, a wide hole exists between the HR procedure of an association and what precisely is required by the business methodology on the HR front. Since the ability of the right demeanor and responsibility is needed to execute the technique, misalignment doesn't allow this reality to occur. The individuals who can impact the arrangement, regularly come way in front of others. Absence of viable Skills and Development. Associations hiring professionals with inconsistent degrees of abilities and ability is seen as another significant hindrance in adjusting the business and HR vital goal. In this unique situation, improper determination, recruiting, and preparing methodology leads towards helpless human asset advancement
Our organizational leadership cultural mindset has shown deficiencies since last few decades. Reasons of such behavioral patterns are not known to me (rather not expose here) for now, but, surely it implies some serious hidden peculiar ‘insecurities & egoist’ issues. The few organizational design structures who blessed with such issues have shown market leadership and more importantly, ‘Sustenance’ to remain as ‘Pioneers’ and not as followers and laggards.
Injustice, Betrayal Ropes and Chains, twirls and spikes, every ounce of weight focusing, pushing step once more, falter exorbitantly huge, it's nonsensically significant overlay like paper knees in the sand trap My overburdened shoulders drowning, sinking and hollers falls hard of hearing on my ear. All I have whenever heard by and by as quiet spit while I am down. ‘Silly’, I am uselessly Biased for the need of chance I am obliged to you this. You demand I owe you this slave don't dream make an exertion not to think on things Other than the expert's guaranteeing. Learning for the people about real empathy and life.
Artificial intel impacts on organizational performanceFarooq Omar
This article is a must-read who wants to keep themselves abreast of new technologies, like AI in business processes, A must-read for senior C- level executives
KPI Calculus for BSC Performance & Progress EstimationFarooq Omar
In the business space, a marker is a mathematical worth that is connected to some sort of cycle or business objective.
Its essential objective is to show a number that can give us a thought regarding the current presentation of the processor's business objective.
Addressing the inquiry concerning driving execution, it is right to state that driving presentation is handled into the slacking execution for a situation when the theory that remains behind the objective ends up being valid.
A more secure option for the KPI expression would be "pointer" or "metric."
Spry organizations need to have the option to quickly change on all fronts, including Marketing. Organizations are keen on advertising that is light-footed on the grounds that they trust it will assist them with conveying the correct components of the promoting blend at the perfect chance to impact the particular result they need to accomplish.
Strategic alignment with Bi and ROI AffectFarooq Omar
Information is a key resource that empowers you to keep up or upgrade your market aggressiveness. Insight is in this manner progressively critical to your business. Here we attempt to ponder on the 'Vital' parameters of Intelligence which is the one of the most basic variables of authoritative development and to support in coherence. We have to realize the accompanying utilitarian segments to make an incentive out of it.
Scenario Analysis – Predictive Analytic Approach and Crafting OptionsFarooq Omar
Situation Analysis is the way toward figuring the estimation of a particular venture, or a specific gathering of speculations, under an assortment of situations for example future potential outcomes. As such, we gauge expected incomes and resource esteem under different situations, with the aim of improving feeling of the impact of hazard on esteem.
Strategic alignment with bi and ROI AffectFarooq Omar
Information is a key resource that empowers you to keep up or upgrade your market aggressiveness. Insight is in this manner progressively critical to your business. Here we attempt to ponder on the 'Vital' parameters of Intelligence which is the one of the most basic variables of authoritative development and to support in coherence. We have to realize the accompanying utilitarian segments to make an incentive out of it.
Corporate turnaround in turbulent times fffFarooq Omar
During a time of swelling, the expense of products and ventures increments quickly, diminishing independent venture obtaining power with providers and sellers. To make up for expanded costs, organizations are compelled to raise their costs with buyers. This makes an endless loop of increasing expenses and makes it trying to rely upon demonstrated income streams.
On the off chance that you deal with a group, there's a decent shot you've known about key execution markers (KPIs). Notwithstanding whether you're comfortable with them or regardless you're asking, "What is a KPI precisely?" But I am sure that you never or seldom had to answer what is a ‘Good KPI and Bad KPI. Let’s takes a snapshot.
The article illustrates the key vital elements of artificial Intelligence impacts and effects on the corporate domain in perspective. It contemplates the issues and problems and also suggestive solutions in brief..
It serves as a guideline to the corporate mangers to get the insights into the latest research findings
As a c-suite executive in an organization and industry, it is almost imperative that the job demanded to create value for driving the profitability, growth and the ‘sustenance’ of the demanded growth. The intent is the navigating, exploring and detecting the right direction along with your chosen team to avoid disruptions and change facing the industry.
In the prevalent times the corporate executives faces ever growing challenges in shape of financial, political, demographics, economic and above all the ‘technology’, altering the shape and intensity of competition.
Some thoughts on economic activity and predictions farooq 2019 2Farooq Omar
An overview of challenges facing Pakistan after the 2018 elections. predominately the state of affairs of decline economic activity, it root causes and why? An excellent brief of overlooked critical areas which might have a negative affect and obstacles in achieving the objectives. A short but an eye opener for the fiscal economist. Do's and dont's. A birds eye view.
Details of corporate global achievements in the field of business process and corporate value chain. Exclusive overview of corporate and overall business evidence based core competencies.
Latest updated 2019 version of board corporate profile to meet the need the of the business and corporate domain & consultancy. It highlights the expert modeling capacity of Mr. Farooq Omar
Strategy modeling from nature - contemplative study. Farooq OmarFarooq Omar
This a business model build on the works of world renowned 'Strategist'. Dr. Rod. K . It conveys and portrays a unique thought that how strategy is correlated and has a cross relationship with 'Nature'. It explores the hidden facets of very complex yet basic hidden parameters often over looked by almost all business strategist.
I am sure, it will serve as a very valuable framework/model of those who knows the values and complexities associated with it.
Farooq Omar (SVN)
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Adversarial Attention Modeling for Multi-dimensional Emotion Regression.pdf
Governance - Accountability Practices and Isalam ---1(1)
1. Governance - Accountability Practices and Islam
Authored by Farooq Omar
April 15, 2016
INTRODUCTION
The issue of accountability has ever been focus of attention in the organizational context
since mid-nineteenth century. As corporations develop across continents, accountability has
become the buzzword of the time (Day and Klein, 1987). There are different theories that
captured the significance of this element. CG started while focusing on the accountability of
agents regarding principal and all other stakeholders. According to Sinclair (1995), no one
can deny the need of accountability. In spite of this fact it quite difficult to define and
implement accountability. Accountability is under the influence of environment in which it is
practiced. So it becomes very difficult to understand its complex nature and to define it
(Mulgan, 2000).
The focus of this study is exploring the theoretical foundations for in-depth understanding of
perceptions of stakeholders towards CG in KSA. The structure of the whole draft is as
follows:
Section 1 links accountability and responsibility
Section 2 focus upon the definitions of the accountability
Section 3 discuss and explain different forms of accountability
Section 4 explores different fields of accountability
Section 5 gives comparison of accountability in public and private sector
Section 6 shows the accountability context instrument
Section 7 discusses accountability in Islamic perspective
Section 8 gives the accountability view in SA
Summary
2. Governance - Accountability Practices and Islam
Authored by Farooq Omar
April 15, 2016
ACCOUNTABILITY AND RESPONSIBILITY
Accountability and responsibility are correlated. Different scholars regard accountability as
one face of responsibility (Jones, 1977; Thynne & Goldring, 1987; Harmon & Mayor, 1986;
Sinclair, 1995). Responsibility can be viewed as a motivational force for accountability.
According to Gray et al (1987), the responsibility for actions of accounting organization
comes at the first phase, followed by accountability.
Sinclair (1995) highlights the idea of accountability by saying that there are different
meanings of accountability for different groups and it depends upon the different ideologies,
different languages, and different motifs. The nut of the nutshell is that accountability can
unfold in the form of sense of responsibility for performing actions by responsible people.
DEFINITIONS OF ACCOUNTABILITY
The meanings of accountability have been changed over the period of time and can be seen in
three different phases, namely:
The basic meaning or the broad use
The narrowest meaning or the specific characteristics of the word to meet a particular
need
The most developed meaning or that which fulfills current needs and requirements
The broadest meanings of accountability cover the history of the world and its linguistic
connotation. According to some reports, the word “accountability” appeared in the Code of
Hammurabi, King of Babylonia, around 2000 BC; which hint at some undesirable actions and
their outcomes (Bird, 1973; Webster’s Online Dictionary, 2010). According to Webster’s
Online Dictionary (2010), the term “accountability” came from the terminology originated
from money lending systems, which first spread out in ancient Greece and later on in Rome.
3. Governance - Accountability Practices and Islam
Authored by Farooq Omar
April 15, 2016
One can easily infer that the different aspects of accountability can be seen in accounting and
especially in book keeping (Bovens, 2005). Now-a-days, this concept of accountability is an
integral part of almost every area including politics and social science (Mulgan, 2002). There
are different meanings of accountability, according to the different levels of scholarship. For
instance auditors treat accountability in financial and numerical terms while others take it as a
subset of ethics (Sinclair, 1995). Seeing from the eyes of Sinclair (1995), accountability
connotations have changed over the period of time, point to the significance of language as an
ideology agent in shaping meaning and understanding.
Oxford Advanced Learner’s Dictionary of Current English denotes the word “accountability”
as “responsible for your decisions and actions and expected to explain them when you are
asked” (Hornby et al, 2000). Whereas, the Macmillan English Dictionary for Advanced
Learners denotes it as “in a position where people have the right to criticize you or ask you
why something happened” (Rundell and Fox, 2002). Webster’s Online Dictionary (2010)
gives “answerability” and “responsibility” as synonyms of “accountability”.
Different belief systems describe “accountability” as “honesty, openness, adequate disclosure
and careful, effective application of resources” (Greiner, 1990). There is an inbuilt potential
of fairness in the concept of accountability. This concept is correlated with public interest and
is the foundation of ethical basis for accounting (Williams, 1987; Pallot, 1991).
There are some definitions which focus on the information role and the way of information
transferring. For instance, Rosenfield (1974) demonstrates accountability as a process of
reporting responsibility of personal actions under an authority relationship between
concerned parties. In this scheme of things the role of law, contract, and custom binds
accountability thread between two parties. Accountability is a kind of obligation in
performing action that one has or has not performed (Jones, 1977). Kaler (2002) regards
accountability as the provision of answers while reporting or giving an account. In corporate
or business context, this is a mean of understanding accountability that links it to financial
auditing as well as to accountancy in general. Resultantly theoretical framework of
4. Governance - Accountability Practices and Islam
Authored by Farooq Omar
April 15, 2016
accountability should be such that which ensure to answer the questions such as Who is
accountable? To whom? For what? (Perks, 1993).
In the accountability relationship there are two parties, first is an accountor and second is an
accountee for their deeds and their outcomes (Ijiri, 1975). With reference to timeframe on
action, accountability is a way of explaining or justifying what has been done, what is being
done currently, and what is planned for the future. Providing information about past action,
present and future is utmost necessary (Jackson, 1982). In other words, it can be explained as
duty, as a requirement, or being responsible of providing an account of action for which he
was responsible. It is a kind of reckoning about the responsibility (Gray et al, 1987). Burchell
(1982) sees the accountability as a requirement of resourceful people which explains and
justify how they use the power. Hatch (1980) views accountability as the best utilization of
resources for those purposes for which they were given. System of rules enforce
accountability for the provision of rights to accountee, and this system is thoroughly
recognized in civil law, internal rules, company acts, conventions, customs, ethical codes and
professional standards. There are two types of law that guard the mutual relationship of
interested parties to companies:
Public law maintains the minimum standards and gives maximum flexibility to
relationship between company and its constituents
Private law maintains agreements between companies and other stakeholders like
suppliers, customers, investors, employees, and society.
There are two cores of accountability, namely: external and internal. The external core is
meant for general categories of relationship, while internal core deals with specific
relationship. Moreover, external codes are implicit, and internal codes are explicit.
Crane and Matten (2004) define corporate accountability in terms of answerability in some
way for the outcomes of actions. The AA1000 Series gives definition of accountability as
composition of transparency, responsiveness, and compliance.
5. Governance - Accountability Practices and Islam
Authored by Farooq Omar
April 15, 2016
Stewart (1984) is of the view that aims of accountability include
i) To ensure that improper usage of responsibility does not happen.
ii) To ensure that improper gains from firm’s resources does not happen.
iii) Preventing mismanagement
Colley (2003) suggests that firms can increase their investor confidence with the help of
strong accountability. On the other hand, with a weak system of corporate accountability can
cause very severe losses for the firms as well for their stakeholders (Keasey et al, 1997).
In the mid-nineteenth century, there was very narrowest meaning of accountability in the
business world with a split of roles of management and owners. This idea is being fully
explained by agency theory in which agents are accountable to the principals.
Cadbury gives a detailed account of accountability relationship as:
There is a formal relationship between the shareholders and board of directors. In this formal
relationship shareholders elect their directors who report on their stewardship to the
shareholders. These shareholders appoint the auditors whose role is to provide an external
check on financial statements of directors. Being owners of the company shareholders elect
their directors who take the responsibility of running the business and held accountable for
the business success. The main issue confronting corporate governance is strengthening the
accountability of boards of directors for shareholders (Cadbury).
In the managerial model which is a kind of specialist environment, accountability is an act of
holding authorized managers answerable for high growth or outcomes of specific type
(Sinclair 1995). Accountability seen by Knell (2006) is the authority requirement, a way of
exercising responsibility for justifying and explaining their actions to those who nominate
them to act on their behalf. (2006, P.32) one can easily infer from this discussion that
6. Governance - Accountability Practices and Islam
Authored by Farooq Omar
April 15, 2016
accountability is blended with the meanings of cost effectiveness, efficient use of resources
and the autonomy of managers (Sinclair, 1995).
In the face of developing sophistication of business worked, it is more important to make
wider meaning so that all parties who are directly or indirectly involved can be take into
account. Accountability now takes the comprehension view of the basic meaning. Ijiri (1983),
Tricker (1983), Gray et al. (1986), 1987, 1988, 1991, 1996 and 1997), Williams (1987) and
Pallat (1991) all view accountability in more broader terms as a social concept beyond the
limits of economic issues. This view considers the societal needs and interests at large.
Accountability has its roots in the right to know (Ijiri, 1983, Gray et al., 1991, Gray, 1992)
and established on the grounds of ‘show me’ principle rather than the belief of ‘trust me’
(Zairi & Peters, 2002). Accountability is related to the need to give information to those who
are in dire need of it. In other words, easy access to information should be given to those who
have a right to information. (Gray et al., 1988, 1991).
Moreover, access should also be given to those passive users who are having right to
information but are not using it at the moment. (Burchell et al., 1982, Gray, 1983, Gray et al.,
1991).
Democratic component becomes the focal point of the broader view of accountability. The
Australian House of Representatives standing committee (1990) defines it as follows:
In Australian democratic system, accountability is central features. It is a sign of ensurance
from those authorities of public resources that they have used to resources with compliance
and in an effective and efficient manner (cited in Sinclair, 1995,) P. 221). Gray et al (1991) is
of the view that the accountability foundations can be seen a reflection and necessity for
operating the forms of democracy.
The broad view also includes the concept of stewardship.
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Accountability is in fact an obligation to present and answer the details of their
responsibilities about how they executed those responsibilities. In this relationship of
stewardship two parties are involved.
First party is steward or accouter who is obliged to ensure and give an account of his
responsibility execution while principal or accountee is that party to whom account is
presented. Establishing stewardship will be only possible when a steward whole heartedly
accepts resources and responsibilities which are entrusted upon him by principal (Gray &
Jankins, 1993, P. 55).
Hupkes et al (2005) emphasizes upon the four functions which should be fulfilled by
accountability.
1. By providing public oversight
2. By maintaining and enhancing legitimacy
3. By enhancing agency governance
4. By improving agency performance
In addition, a party’s role may be of an accountee and an accounter simultaneously, and it
depends upon the nature of relationship; for instance management accountability can be seen
how successfully they provide employees a good & safe working environment. On the other
hand employee’s accountability can be viewed in terms of their performance of manager’s
missions (Gray et al 1996).
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In nutshell, in the present time there is need to develop the meaning of accountability to
express the actual needs of time. In the CG terms, accountability is a basic concept that acts
as
the foundations in improving the governance system and ensuring a reasonable fairness level.
In the preset time not only corporations are growing rapidly but society’s norms are also
changing at a rapid pace. Therefore, in the face of those high delta changes that conceptualize
the accountability has been transfigured (See figure).
FORMS OF ACCOUNTABILITY
There are two accountability systems namely formal & informal. These two accountability
systems are complementary to each other (Roberts & Scapens, 1985). Roberts (1991) very
gracefully explains the mutual relationships between these accountability systems and labels
them as hierarchical (formed) and socializing forms (informed) of accountability.
Hierarchical accountability form centers on accounting in its calculative power & calculative
function. Role of accounting information becomes the reflector of producer’s activities (1991,
P. 363). On the other hand, socializing form of accountability is an act of narrative sense
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making and not the calculative form of accounting. Seeing from the example of institutional
point of view, accountability appears in different classification such as
1. Political with reference to ministers & parliament
2. Legal to court system
3. Administrative to non-parliamentary bodies.
4. Public / consumer with reference to public
The study of Sinclair (1995) with 15 semi-structured interviews with chief executives in
Australian public sector finds out accountability classification as follows.
Political, professional, personal, public and managerial specific.
POLITICAL ACCOUNTABILITY
The origin of political accountability in Athenian democratic and Westminster traditions, in
which responsibility is vested upon the public servant (Sinclair, 1995. P. 225). According to
Sinclair accountability is a chain of accountability that connects public servant with CEO and
makes him accountable not only to minister but also to Cabinet, parliament as well as to
electors (1995, P.225). Political accountability is in fact a relationship between a
representative (public administrator) and their potential constituents (to whom they are
accountable). The list of potential constituent consists of general public agency heads, elected
officials, special interest groups and generation of time to come. (Romzer & Dubnick, 1987).
PUBLIC ACCOUNTABILITY
According to thynne & Goldring (1987) public accountability is more informal & directly
accountable to not only public but also to community groups and other individuals.
Stewart (1984) analyzed the very complicated nature of public accountability and coined two
terms bonds and ‘Links’ of accountability. According to him, existence of bond of
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accountability lies in a hierarchical relationship and a demand for accountability. While, a
link to accountability will exist where there is no bond but only an obligation or custom to
account.
In public accountability, the role of answering is very much central. Different mechanisms
such as newspapers, reports to hearings are extensively used about public difficulties with
reference to administrative activities. (Sinclair, 1995, P.226). In this scheme of things,
corporations need a beforehand approval to operate effectively in community. Even public
accountability also depends upon the prior approval. Society gives its consent to business
corporations to operate in society. We can see that in fact corporations held accountable to
the society for all their actions as well as for all their action – mechanism. (Anshen, 1980.
Trocler. 1983).
MANAGERIAL ACCOUNTABILITY
O’ Loughlin (1990) illustrates the idea of managerial accountability which is also called
administrative, bureaucratic or system of accountability. It is insurance of the stability of
hierarchical relationship between superiors and subordinates, which is we weberian
legitimate authority model. This managerial accountability happens when a person is located
within the web of hierarchy and his superior calls him to account for the results / outcomes of
his assigned duties (Sinclair 1995, P.227). Superior gives order to subordinates and assess
them in terms of their quality work and speedy output. (Romzek and Dubnick, 1987, O
Longhlins 1990). There are different variety of assessment tools of superiors by which theory
judge and assess their subordinates. For example close observation, strict monitoring and
rules & regulation (Romzik and Dubnick, 1987).
Stewart (1984) coined the term of commercial accountability which is infact the
accountability of agents to their principals.
Shareholders have complete trust on directors for managing their investment and directors
held accountable for discharging their responsibility accordingly. If the situation is not up to
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the mark or in case of any mismanagement or corruption or dishonesty or inadequate account,
shareholder can withdraw their whole investment or sack the directors. Directors can play
very important role in monitoring all financial matters. According to Keasey et al a lot of
informed commentators are of the view that inspite of the fact that there is an increasing
financial reporting regulation day by day along with independent auditors of financial
statements, our system is not operating up to the mark and is showing many signs of
corruption & dishonesty.
PROFESSIONAL ACCOUNTABILITY
The idea of professional accountability highlights the deep sense of duty as a professional
expert by which one occupies a respectable position and status in society (Sinclair, 1995,
P.229). Now-a-days professional accountability gives value & respect to professionals and
provide them power within & outside organizations. People trust them and grant them
complete autonomy in taking strategic decision on their own (Romzek & Dubnick, 1987).
PERSONAL ACCOUNTABILITY
The idea of personal accountability is being loyal to one’s conscience in basic human values.
In this loyalty and self-consciousness, one finds pleasure in self-respect, individual dignity
and with deep sense of responsibility affects the lives of others positively (Harmon and
Mayer, 1986). According to Sinclair (1995), sense of accountability is one’s driving force
which is supported by the internal ethical and moral values. Why personal accountability is
forceful and obligatory, because it is enforced by psychological control and not by any
external pressures. Moreover, it can be enhanced & reinforced by organizational culture.
One can find two sources of control while viewing the managerial, political and professional
types of accountability namely: inside control & outside control. Regarding personal
accountability, source of control generates from inside the person. Later one it can be
managed or influenced by the forces of culture and religion.
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INTERNAL SOURCES
Internal sources of control is directly dependent upon formal hierarchical structures &
informal social relationships. External sources of control is due to the formal structures which
are the results of legal contracts and power-play of interested parties outside the organization
(Romzek & Dubnick, 1987).
ACCOUNTABILITY IN ORGANIZATIONS
It is claim of Mulgan (2002) that Sinclair’s personal & professional forms of accountability
were introduced by the researcher instead of being volunteered by respondents.
According to him it is very hard to separate personal & professional values. It can be
observed that codes of professional ethics typically encompass values of honesty, Justice &
fairness. (2002, P.560) Sinclair types of accountability are not mutually exclusive but are
complementary to each other.
According to Gray et al (1996) five types of accountability are the foundations of accountable
& transparent organizations which results in:
Many organizational aspects become visible. According to Parksh & Rapport (1977, cited in
Grey et al., 1996), large amount of information revealed will cause information inductance.
One party can influence the behavior of society as well as the company with the relevant
information.
Transparency which is the outcomes of accountability can be introduced with its
results of actions in closer conjunction. It is the closeness between organizational
actors and the results of their actions which can decrease the clash of interest and
increase the exercise of responsibility (Rauls, 1971).
According to Gray et al (1996), accountability that is the outcome of responsibility will cause
an increase in the responsibility. There are difficulties which become obstacles in
implementing accountability (Tricker, 1983, Roberts and Scapens, 1985). Tricker (1983) is of
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the view that if accountee is able enough to enforce accountability, there can be no
accountability. According to him if an account voluntarily decides to disclose information
that an assumed accountability may demand, and the accountee cannot enforce that
disclosure, then such a disclosure should be thought of as an ex-gratia disclosure. In contrast,
Gray (1992) is of the view that accountability can occur even it cannot be enforced.
According to Robets and scapens (1985) accountability relationship is the reflection of a
social process. In this social process accountee is more powerful and imposes his values on
the accouter. Here one can see that accountability relationship is a way of exploitation. Gray
(1992) in his criticism says that as accountability approach is concerned with accountee or
stakeholders who are unable to enforce their accountability upon accountor, there is no
chance of exploitation.
Gray et al (1991) by using accountability frame work within developing & developed
countries all issues relating to the flow of information can be solved. According to them
introducing accountability frame work in developing countries is more valid.
In addition, Samuels (1990) claims that it is being argued that whether decisions are in the
market place or administrative there is a need, particularly in developing countries for greater
information. The government of developing countries requires reevaluation of the
measurement process and the disclosure techniques currently used… it is appreciated that to
take such actions is a political move. It means asking for a greater level of accountability
(9.70).
Deans (1989) is of the view that in many countries, role of accounting as a medium for
discharging accountability has been neglected.
Different field
DIFFERENT FIELD OF ACCOUNTABILITY
The nature of accountability topic is very complex and it can be interpreted in many different
ways (Sinclair, 1995). The scholars of accounting connect accountability to financial
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information disclosure. Scholars of HRM and psychology are interested in accountability
relationships, the effect on decision based frameworks and organizational behavior (See
Ammeter et al, 2004). Auditors consider accountability in financial and numerical terms,
while political scientists in political obligation, legal scholars as a constitutional arrangement
& philosophers see accountability as a subset of ethics.
In business, accountability focuses upon those dangers which causes from the lack of
effectives accountability for CEO’s (Cadbury, 1992). In this accountability type accounting
system is used for delivering information to stakeholders. In fact, accountability thoughts are
shapers of accounting system. One can infer that corporate accountability or organizational
accountability is a significant field of interest for researcher’s investigation.
ACCOUNTABILITY IN THE PUBLIC & THE PRIVATE SECTORS
According to Mulgan (2002) in private sector there is more accountability than other sector
due to its aim of maximization profit for its stakeholders. There are number of objectives that
private sector has to achieve, including.
1. To ensure that the interests of all shareholders are being served according to the
functions of free market system and it depends on internal & external monitoring
systems (Benston, 1982).
2. To perform as a control mechanism by monitoring, evaluating & controlling
organization’s mangers and measuring their performance, through outcomes (Munro,
1996).
3. To manage the risk which a company tends to face (Cadbury, 1992).
In private organizations, annual report is employed for accountability as the main instrument
(Midgley, 1932). It is also used to see whether profit reporting is reliable and accurate.
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ACCOUNTABILITY CONTEXT INSTRUMENT
The above discussion shows that accountor’s role is to satisfy the needs of accountees.
Accountor is responsible to report both shareholders & stakeholders, because each needs
different types of information. To meet the requirements of stakeholders and shareholders
there are different accountability vehicles such as corporate social reports, environmental
reports, sustainability report, and financial statements. (Carnaghan et al, 1996, Solomon,
2010). These report are very significant according to different users and their different needs.
For example BOD’s want to see the improved company performance, owner want to see how
efficiently resources are used.
ACCOUNTABILITY IN ISLAM
In other cultures, there is no word which exactly reflects the concept of accountability, but in
Islamic culture accountability acts as a fundamental base in between the human beings and
others. In broader sense it is central to Islam. It is a dominant theme in Muslim’s faith (Lewis,
2006) because accountability to God and society both is the central for all individuals’
actions. Islam stresses upon accountability relationships between individuals & community
(ummah) as well as between people and Allah (God). According to Lewis Arabic word
‘sharia’ has the literal meaning the way to the source of life and in technical term it is a legal
system which sets the code of behavior called for by the Quran and hadiths (Authentic
Traditions).
Sharia is of instructions that govern the everyday life activities of good Muslims (Serour et
al; 1995). There are two sides of human life under sharia: Worship & transactions.
Those relationships which are between Muslims and their creator is (a part of worship is
called ‘ibadat’. On the other hand those relationships between people and others is a part of
transactions is called ‘moa-amalat’ (Bahjat, 1994, Al-Qaradari, 2001).
According to Islamic culture religion is treatment and in Islam, religion & treatment are
insperable companions. This means that all types of treatments such as finally, society,
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neighbourhood, environment, ethics, business, economics and politics. The status of these
transactions is very lofty within ‘Sharia’ and these are defined in terms of rights & duties of
the participants. In ‘sharia’, it is mandatory for all Muslims to strictly follow the regulations
of ‘ibadat’ and ‘moa-amalat’. All participant are answerable to Allah for these regulations.
Shearia’s role is to organize all the matters of one’s life and to set the framework for Islamic
rules (Al-Qaradani 1973). As Allah affirms in the Holy Quran.
“This day have I perfected your religion for you, completed my favor upon you, and have
chosen for you Islam as your religion” (Quran: 5/3).
Sharia has two bases of sources
i. Primary sources
ii. Secondary sources
Primary sources include
Quran (word of God)
Sunna and Hadita (Authentic traditions & Sayings of Prophet)
Ijma (unanimous opinion of Islamic Scholars of Analogy
(Qiyas) intelligent reasoning
Secondary source is called istihsan. These are those causes which are not covered by primary
sources. Muslims are recommended to obey views of Propher’s companions (Serour et al.,
1995, Iqbal and Lewis, 2002). El Mallakh (1982).
El Mallakh (1982) illustrates the source of Saudi law based on sharia as:
The Quran, the holy book of Islamic religion…the sunna is the recorded statements
and actions of the prophet Mohammed…ijma is the consensus of the Ulama [religious
scholars] which serve as legal precedents. The last source of the law in the kingdom,
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qiyas, is simply the use of analogies in reaching decisions when the other three sources
cannot be of any help (1982, p. 44).
It is important to note that Sharia is flexible. It permits to adapt to timely needs of
circumstances with reference to different times & different locations. Sharia accommodates
those honest views that do not contradict or spoil the spirit of primary sources (Serour, 1994).
Human actions are classified into 5 categories by Sharia.
1) Obligatory (fasting & praying)
2) Recommended (marriage)
3) Permitted (breaking fasting when sick)
4) Disapproved but not forbidden (divorce)
5) Absolutely forbidden (killing)
(serour et al., 1995, P. 560).
In the development of science of fiqh (jurisprudence), number of guiding principles has been
established to drive rulings. Role of fiqh can be seen in different examples such as harm
should be removed, the lesser of two harms should be chosen and priority of public interest
over individual interest.
In nutshell ‘sharia’ law is established for preserving & protection of the
following
1. Self
2. Mind
3. Honor
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4. Religion
5. Ownership
Several verses of Holy Quran clearly indicate this.
Come, I will recite what your Lord has prohibited to you. [He commands] that you not
associate anything with Him, and to parents, good treatment, and do not kill your children
out of poverty; we will provide for you and them. And do not approach immoralities - what
is apparent of them and what is concealed. And do not kill the soul which Allah has
forbidden [to be killed] except by [legal] right. This has He instructed you that you may
use reason (Quran, 6:151).
And do not approach the orphan’s property except in a way that is best until he reaches
maturity. And give full measure and weight in justice. We do not charge any soul
except [with that within] its capacity. And when you testify, be just, even if [it concerns] a
near relative. And the covenant of Allah fulfill. This has He instructed you that you may
remember (Quran, 6:152).
Regarding insurance in our
contemporary
situation, we can clarify
the working of sharia. Neither
the Quran nor the Sunna
mentions insurance, but
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Muslim scholars suggest an Islamic form or way of Insurance which is in fact based on the
four primary sources of sharia explained previously.
In ‘sharia’ the concept of accountability is a fundamental pillar and one perspective of
Islamic culture.
Istakhlaf (trust) is one of them in which man is considered the vice gerent of Allah on earth
so Allah Almighty says:
“Indeed, I will make upon the earth a successive authority” (Quran, 2:30).
Three factors form the concept of istekhlaf. First, the entrustor is Allah, who is the owner of
everything, as he says in the Quran: “To Allah belongs whatever is in the heavens and
whatever is in the earth” (Quran, 2:284).
renovation of earth as per the
instructions of Allah (Al-jira
1996).
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This is the teaching of Islamic culture that teaches us that we are not the owner of what is in
our hands but just a vice gerent appointed by Allah and so we must use all the things
according to the will of Allah, without damaging the society & environment. An individual is
accountable for all that which is entrusted & delegated to him/her. As this is illustrated in the
Quran.
“And stop them; indeed, they are to be questioned" (Quran, 37:24).
“So by your Lord, We will surely question them all, About what they used to do (Quran,
15:92; 93).
In Islamic culture & perspective Muslim managers must understand their duties and they are
required to make full disclosure in order to discharge their accountability.
Thus, Baydoun and Willett (2000, p. 81):
Private accountability and limited disclosure are
insufficient criteria to reflect the ethical precepts of
Islamic law. Consistency of disclosure practices with Islamic law requires application of
the more all-embracing criteria of social accountability and full disclosure.
Individuals who take a role of accountability in Islam should have an acceptable level of
diverse characteristics and these are emphasized by a number of Quranic verses. These are:
first, honesty (amana): “O my father, hire him. Indeed, the best one you can hire is the
strong and the trustworthy” (Quran, 28:26).
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Second, integrity (nazaha): “O you who have believed, fulfill [all] contracts” (Quran, 5:1)
Third, justice (adil): “And do not argue on behalf of those who deceive themselves.
Indeed, Allah loves not one who is a habitually sinful deceiver” (Quran, 4:107).
Fourth, ability (qudra): “And do not give the weak-minded your property, which Allah has
made a means of sustenance for you, but provide for them with it and clothe them and speak
to them words of appropriate kindness” (Quran, 4:5).
does something, for him to do it well” (Al-Albaani, 1995, p. 106).
Any individual who is accountable of any duty must have the following characteristics as
emphasized by following Quranic verses.
First, almuhasbah is derived from the root word ‘count’, and one of its meanings is to hold a
responsible person to account (Al-Ifriqi, 1970). Allah says “But those who fear Allah are
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above them on the Day of Resurrection. And Allah gives provision to whom He wills
without account” (Quran, 2:212).
Second, almusa alah expresses the ability to question someone. A number of Quranic
verses emphasize this meaning: for example, Allah said “And indeed, it is a remembrance for
you and your people, and you [all] are going to be questioned” (Quran, 34:44).
from the principal who holds the party accountable to respond. In the Quran, the text which
clarifies this meaning is translated as “And when My servants ask you, [O Muhammad],
concerning Me - indeed I am near. I respond to the invocation of the supplicant when he
calls upon Me. So let them respond to Me [by obedience] and believe in Me that they may be
[rightly] guided” (Quran, 2:186).
However, alestejwab is mostly used within the context of political affairs.
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In this study researcher uses following three words which fully convey the meanings of
accountability.
Almuhasbah, almusa alah and alestejwab.
ACCOUNTABILITY IN SAUDI ARABIA
KSA is just like a heart of Islamic world and contains two highest Muslim countries Makkah
& Medina.
Since its establishment KSA is following sharia and considered as the hub of Islamic beliefs
and values as the country constitution, which depends on Quranic teaching, Hadith, Ijma and
Qiyas. In extracting instructions from these authentic resources the accountability in true
Islamic sense is well established & practiced in KSA in its intent and spirit.
SUMMARY
The idea of accountability has ever been popular in human civilization from ages. There are
different explanations in different cultures & civilizations from different perspectives.
This chapter explains & explores the theoretical bases of accountability which helps to clarify
stakeholder’s perceptions towards Corporate Governance in KSA. This chapter explains the
meanings definitions of accountability & responsibility along with different forms, different
fields of accountability. Comparative study of public & private accountability is also the part
of this study along with the concept of accountability in Islam & Saudi Arabian practice of
accountability which open more research avenues to study the different parameters associated
with CG, in particular the leadership practices in its true spirit and what actually being
followed by different Islamic countries.