Islamic economics and identifying the components of disclosure in Islamic financial reporting

In the economic system of Islam, which in comparison with other existing economic systems, in terms of basic principles, core values and basic components have many differences. Transparency in financial reporting and improving the capacity for accountability are also very different. Accordingly, the purpose of this study is to identify the components of disclosure in financial reporting with an Islamic approach. The present study is qualitative, in terms of fundamental purpose and descriptive (non-experimental). The research method was data-based method. The statistical population included professors, experts and specialists in Islamic economics, 6 of whom were selected by snowball method and interviewed. The criterion for determining the sample size was theoretical saturation and the data were analyzed in open, axial, and selective coding steps. The reliability of the interviews was confirmed by two methods of recoding and using two coders. The results showed that disclosure in the Islamic financial reporting system, unlike Western models, in addition to the need to be done in terms of wealth (or the same income) and profit, but also disclosure in the distribution of wealth and profits. In addition, disclosure is influenced by the values that govern the Islamic economic system (fundamental values and public values) and factors such as the goals of users and the role of institutions affect it. Such a system of disclosure will lead to results such as reporting the classification of Islamic contracts and Islamic taxes, and will ultimately lead to the benefit of stakeholders and beneficiaries.