Financial Management Practices of Mosques in Malaysia

Mohamed Azam Mohamed Adil; Zuraidah Mohd-Sanusi; Noor Azaliah Jaafar; Mohammad Mahyuddin Khalid; Asmah Abd Aziz

doi:10.7187/GJAT302013.03.01

Authors

Mohamed Azam Mohamed Adil Accounting Research Institute & Centre of Islamic Thought & Understanding (CITU) Accounting Research Institute & Faculty of Accountancy, Universiti Teknologi MARA, 40450, Shah Alam, Selangor, Malaysia
Zuraidah Mohd-Sanusi Accounting Research Institute & Centre of Islamic Thought & Understanding (CITU) Accounting Research Institute & Faculty of Accountancy, Universiti Teknologi MARA40450, Shah Alam, Selangor, Malaysia
Noor Azaliah Jaafar Accounting Research Institute & Centre of Islamic Thought & Understanding (CITU) Accounting Research Institute & Faculty of Accountancy, Universiti Teknologi MARA40450, Shah Alam, Selangor, Malaysia
Mohammad Mahyuddin Khalid Accounting Research Institute & Centre of Islamic Thought & Understanding (CITU) Accounting Research Institute & Faculty of Accountancy, Universiti Teknologi MARA40450, Shah Alam, Selangor, Malaysia
Asmah Abd Aziz Accounting Research Institute & Centre of Islamic Thought & Understanding (CITU) Accounting Research Institute & Faculty of Accountancy, Universiti Teknologi MARA40450, Shah Alam, Selangor, Malaysia

DOI:

https://doi.org/10.7187/GJAT302013.03.01

Keywords:

Mosques, Accountability, Internal Control System, Financial Management Practices

Abstract

This study explores on the importance of financial management practices for different types of mosques in Malaysia. Questionnaires
were administered to chairman and treasurer of 192 selected mosques available in Malaysia including Sabah and Sarawak. This study suggests that a proper and accurate recording of financial transactions, enhancing the accountability of chairman and treasurer is required in order to improve the productivity and performance effectiveness. The inclusion of these variables provides important implications for expanding our understanding of financial management practices in nonprofit organizations and creating new research opportunities. The result suggests that Malaysian mosques can enhance internal control system and performance to achieve mission and goals of these crucial institutions of societal development.

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