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Saturday (22/09) To perfect the Draft Exposure before its publication into Statement of Financial Accounting Standards 112 concerning Waqf Accounting, the Center for the Study of Islamic Economic and Philanthropic Development (PuSPEIFi UMY) held a public hearing and Publication on Accounting PSAK 112 Endowments on Saturday, September 22, 2018 at the KH Ibrahim Building Amphitheater Room. The activity aims to accommodate responses and input from the public regarding the Exposure Draft 112 issued by the IAI Sharia Accounting Standards Board for the establishment of PSAK 112 Waqf. Public Hearings and Socialization of DE PSAK 112 Accounting for Waqf was attended by 46 participants from lecturers, students, Nazhir and the general public.

The activity was sourced by Professor Dr. Mahfud Sholihin as one of the Yogyakarta IAI Sharia Accounting Standards Board who also served as Deputy Dean for Academic and Student Affairs of FEB UGM. Besides participating Dr. Muhammad Akhyar Adnan, MBA., CA., Ak as the Head of PuSPEIFi UMY as well as an UMY Accounting lecturer who also acts as a reviewer. In this activity Prof. Dr. Mahfud Sholihin explained the contents of the Exposure Draft PSAK 112 before the participants. From the presentation as the reviewer, Dr. Muhammad Akhyar Adnan, MBA., CA., Ak delivered several notes on the observation of DE PSAK 112. The notes included the rules of writing, the purpose of the sentence, the meaning of words. Besides that, Dr. Muhammad Akhyar Adnan revealed the importance of establishing this Waqf Accounting PSAK even though it is a little late but still has to be formed, it is motivated by several things, namely the large number of waqf institutions spread across Indonesia, but there is no reliable or officially registered data and the number of assets managed in each – one of the waqf institutions in Indonesia.

The response does not only come from the reviewer, the participants can also provide feedback and input regarding the Draft Exposure to PSAK 112 Accounting for Waqf. The enthusiasm of the participants was also shown through the questions raised by Prof. Dr. Mahfud Sholihin, one of the participants asked about the amount of provisions for the portion of the honorarium received by a Nazhir, the source of funds intended for the awarding of Nazhir honorarium, as well as other polling questions. In addition to the questions submitted directly, participants can also submit input and responses through the response form distributed by the committee. Through this activity the organizers hope that the responses and input from the participants and reviewers present at this event can be considered for the establishment of PSAK 112. (Izza)