Professional Diploma in Hisbah, Shariah Governance, and Institutional Auditing
Islamic Studies and Financial and Administrative Sciences / Shariah Supervision and Institutional Auditing — Novera University
1. Program Overview:
An accredited professional and applied program extending over 3 months (80 hours of approved study load), aimed at preparing and qualifying Shariah supervisors and auditors, administrative consultants, and governance and compliance managers to combine the jurisprudence of Hisbah with contemporary institutional supervision. The program covers the Shariah foundations of the Hisbah system and its historical development; the formation and responsibilities of Shariah supervisory boards; standards of control, governance, and internal and external Shariah auditing in accordance with AAOIFI standards; field inspection and auditing procedures for contracts and products; Shariah supervision in the awqaf sector and nonprofit organizations; management of Shariah non-compliance risks; and the preparation of professional audit reports and remediation plans.
2. Key Objectives:
- Shariah and institutional grounding of supervision: understanding the emergence and development of the Hisbah system in Islam, and comprehending the jurisprudential rules governing market supervision, consumer protection, and the preservation of public and private funds.
- Understanding governance frameworks and Shariah boards: studying the professional code of conduct, the independence of the Shariah auditor, and the competencies of supervisory and fatwa boards in financial and banking institutions.
- Mastering international control and auditing standards: applying governance, control, and auditing standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
- Implementing field audit and inspection procedures: training in the steps and stages of the Shariah audit process, preparing inspection programs, examining samples, and assessing the soundness of the implementation of contracts and transactions.
- Applying supervision in the nonprofit and awqaf sector: adapting Hisbah and Shariah supervision mechanisms to charitable institutions, humanitarian organizations, and endowment funds.
- Managing non-compliance risks and preparing reports: identifying and classifying Shariah non-compliance risks, addressing prohibited revenues, preparing Shariah audit reports, and following up on the implementation of corrective plans.
3. Target Audience:
- Internal and external Shariah auditors and supervisors in financial institutions and Islamic banks.
- Members and secretaries of Shariah supervisory boards and committees in banks, Takaful insurance companies, and investment companies.
- Compliance, risk-management, and internal-audit managers in public and private institutions.
- Awqaf administrators and managers of charitable and humanitarian associations and non-governmental organizations.
- Graduates and students of Faculties of Shariah, Accounting, Financial and Banking Sciences, and Business Administration.
4. Study Plan and Academic Modules:
|
Module |
Number of Lectures |
Total Hours
|
|
Jurisprudential Grounding of the Hisbah System and Institutional and Financial Supervision |
3 |
6 hours |
|
Shariah Supervisory Boards: Formation, Governance, and Code of Conduct |
3 |
6 hours |
|
Standards of Internal and External Shariah Control and Auditing (AAOIFI) |
3 |
6 hours |
|
Tools and Procedures for Field Inspection and Auditing of Transactions |
3 |
6 hours |
|
Shariah Supervision and Auditing in the Awqaf Sector and Nonprofit Organizations |
3 |
6 hours |
|
Management of Shariah Non-Compliance Risks and Treatment of Non-Compliant Revenues |
3 |
6 hours |
|
Skills in Preparing and Drafting Shariah Audit and Supervision Reports |
3 |
6 hours |
|
Applied Laboratory: Audit Case Studies and Follow-up of Corrective Plans |
3 |
6 hours |
|
Total: 8 Study Modules |
24 Lectures |
48 Training Hours
|
5. Organizational Structure and Assessment System:
- Duration and sessions: 3 months (evening period), at a rate of two lectures per week, two hours per lecture = 48 interactive training hours.
- Language of study and delivery method: Arabic | fully remote interactive training (Online).
- Distribution of approved hours (80 hours):
· 48 hours: direct interactive lectures and auditing workshops.
· 14 hours: required readings and Shariah auditing and supervision guides and standards.
· 6 hours: enrichment readings and AAOIFI standards in control and governance.
· 6 hours: assignments and practical applications (inspection forms, working papers, and checklists).
· 6 hours: self-assessment questions, final review, and final completion examination.
- Attendance and assessment requirements: attendance of no less than 75% of the lectures, and completion of periodic auditing applications and reports.
- Certificate and graduation project: the graduate is awarded a Professional Diploma in Hisbah, Shariah Governance, and Institutional Auditing after passing the electronic examination (25 questions + 5 questions on practical and auditing cases) and preparing an optional integrated applied Shariah auditing and supervision file (examining an institutional product and submitting a Shariah audit report with a remediation plan).
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