To accomplish an exposure draft before being published to be the Decree of Financial Accounting Standards (PSAK) 112 on Accounting for Waqf, Islamic Economic and Philanthropy Development Center (PuSPEIFi) of Universitas Muhammadiyah Yogyakarta (UMY) conducted a public hearing and promoting the PSAK 112 of Waqf Accounting on Sarturday (22/9) at Amphitheater of K.H. Ibrahim Building.

On a release on Wednesday (26/9), attended by 46 participants such as lecturers, students, nazhir, and public, the public hearing told that the public hearing aimed to gaining responses and recommendations for the exposure draft by the Sharia Accounting Standard Board of Indonesian Accountant Association (IAI) to form the PSAK 112 Waqf.

A of the public hearing were a member of the Sharia Accounting Standard Board of the IAI of Yogyakarta as well as Vice Dean for Academic and Student Affairs of Faculty of Economics and Business of University of Gadjah Mada Prof. Dr. Mahfud Sholihin, while the reviewer was Head of PuSPEIFi Dr. Muhammad Akhyar Adnan, MBA., CA., Ak. Prof. Dr. Mahfud Sholihin explained contents of the exposure draft of the PSAK 112, whereas Dr. Akhyar presented several notes dealing with writing rules, sentence implication, and word meanings.

“The formulation of the PSAK of Waqf Accounting was essential even though it is fairly late due to the huge number of waqf boards in Indonesia. There are no reliable and officially-documented data of the number of waqf boards in Indonesia, so are the assets.

Besides, participants provided some suggestions for the draft, and a participant inquired a salary of the nazhir and financial resources to pay the nazhir. Comments and recommendations at the public hearing may become consideration for the formulation of the PSAK 112.