Compliance of Financial Statements of Islamic Banks of Pakistan with AAOIFI Guidelines in General Presentation and Disclosure

The study is based on empirical evaluation of financial statements of Islamic banks of Pakistan. Data sample consists financial statements for the years 2009, 2015, 2016 and 2017 relating to of all four full-fledged Islamic banks in Pakistan. First standard in Islamic accounting standards suggests a total of 111 items for compliance while preparing financial statement of Islamic Banks. As per existing regulatory requirements, Islamic banks in Pakistan are required to adopt International Financial Reporting Standards while preparing their financial statements