Developing the responsibility of the auditor to meet the requirements of investment in Islamic banks

The duty of the auditor varies in accordance with the particular economic, political, and social system in which he is working. The author discusses the nature of Islamic banks and investment companies, and then defines the role of the auditor for such financial institutions. As a representative of the shareholders, he works for the shareholders, is responsible for supervising and reporting upon the activities of the economic unit, and is accountable to the shareholders, who are represented by the general assembly. The various responsibilities of the auditor are discussed in detail, and suggestions are made for developing the responsibility of the auditor and forming a general assemble for depositors similar to that for shareholders.