APPLICATION OF ACCOUNTING SYARIAH PRINCIPLE IN FINANCIAL REPORTING AT LAZISMU MEDAN

Isra Hayati

Abstract


This study critically examines how Islamic accounting principles amanah (trustworthiness), accountability, transparency, and tawhidic stewardship are interpreted, institutionalized, and enacted in the financial reporting practices of LAZISMU Medan, a Muhammadiyah-affiliated amil zakat institution in North Sumatera, Indonesia. Departing from the dominant quantitative tradition in Islamic accounting literature, this study adopts a qualitative phenomenological approach to uncover the lived organizational realities, institutional tensions, and gap-bridging strategies that characterize compliance with PSAK 109 and broader sharia accounting norms. Research Methodology: In-depth semi-structured interviews were conducted with 18 key informants purposively selected from LAZISMU Medan's management, accounting staff, Sharia Supervisory Board (SSB), and external auditors. Observational data were gathered through non-participant institutional observation over a three-month field immersion period, supplemented by extensive document analysis of LAZISMU Medan's audited financial statements, internal policy documents, and SSB reports. Findings: The study identified four principal themes: (1) a persistent "compliance-authenticity gap" wherein formal PSAK 109 compliance is achieved procedurally but substantive sharia values are inconsistently internalized; (2) institutional isomorphism pressures that shape transparency practices more than genuine accountability norms;(3) capacity deficits in sharia accounting competency among frontline staff that undermine reporting quality; and (4) the SSB's structural marginalization, which compromises meaningful sharia oversight.


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DOI: https://doi.org/10.3059/insis.v0i0.29548

DOI (PDF): https://doi.org/10.3059/insis.v0i0.29548.g15101

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