Purpose The purpose of this paper is to discuss the inheritance of a business from the Islamic accounting perspective. Design/methodology/approach The paper adapts the relevant provisions of conventional accounting standards and practices that conform to Sharīʿah (Islamic law). In addition, the provisions of the Islamic accounting standard for musharakah (AAOIFI’s FAS No. 4) found to be relevant are also adapted. Findings The study shows that the assets of an inherited business should be measured at their fair values and that liabilities and legacies must be deducted therefrom with the view to arriving at the equity (or residue). The equity is then distributed among the heirs based on the sharing ratio established according to the Noble Qurʾān, the Sunnah (the Prophet’s way) and Muslim jurists’ views. Therefore, the inherited business becomes a family business as each heir is admitted into it. By extension, Islam emphasizes that the business should remain a going concern to generate income to sustain the welfare of the heirs. Research limitations/implications The discussion of the paper is limited to the inheritance of a business and its going concern in line with the Sharīʿah. Practical implications Special attention should be paid to the inherited business to ensure not only its continuity to generate income for the heirs but also that each heir gets a correct share of the equity of the business as regulated by the Sharīʿah. Originality/value This study links Islamic inheritance to the going concern of the business, which from all indications has not been given full consideration by previous studies.

This study examines the impact of audit committee characteristics (AC) on financial performance of listed non-financial companies in Nigeria from 2013-2020. A sample of seventy-six (76) companies listed as non-financial was drawn from the population of one hundred and thirteen (113) companies. Audited annual reports and accounts were used for data extraction. The analysis was done using descriptive statistics and multiple regressions. Explanatory research designed was adopted in the study to find out the impact of AC on financial performance. Variables used include AC proxy by ACIND, ACS and ACM as the proxies for independent variable and financial performances’ accounting and market based measures proxy by EPS and Tobin’s Q was used as the dependent variable. Robustness tests such as multicollonearity test, heteroscedasticity test, normality test and hausman specification test were conducted to validate the results. The study revealed that there is negative significant relationship ACIND and EPS, TQ and ACS has a significant relationship with EPS positively while a negative with TQ and lastly, ACM reported a positive significant relationship with EPS and a positive but not significant with TQ of listed Non-financial companies in Nigeria during the study period. Based the on the findings of the study, the study recommends that the management of the listed non-financial companies in Nigeria should ensure that AC should be made more effective by ensuring that members are made up of independent non-executive directors and the size of the AC should be optimal and lastly ensure that AC meetings are to be tailored towards relevant issues that enhance financial performance of the firm.

This study examined the impact of educational, legal, and behavioral factors on the applicability of forensic accounting in the public sector in Nigeria. The study utilized primary data through the administration of questionnaires to accountants the internal and external auditors drawn from seven states of the North-Western geo-political zone of Nigeria. Partial Least Squares (PLS) path modeling using smart PLS3 Statistical Software was employed for the analysis. The findings indicated that behavioral, educational, and legal factors are positively related to the applicability of forensic accounting in the states. The results revealed the importance of giving special consideration to educational, legal, and behavioral factors to ensure the successful application of forensic accounting to deter and detect corruption and other fraudulent activities in Nigeria. The study shows how educational and professional institutions would assist in the promotion of the awareness, knowledge, and skills of forensic accounting.

This study seeks to establish a non-linear relationship between ownership concentration and financial performance of the listed Deposit Money Banks (DMBs) in Nigeria. The data were extracted from the annual reports and accounts of six (6) sampled DMBs from 2003 to 2014.  A panel data regression technique was used to analyse the data collected. The study establishes that the relationship between ownership concentration and the financial performance of listed DMBs in Nigeria changes from negative to positive when the ownership concentration reaches 54.94%. This signifies that the relationship between ownership concentration and financial performance is negative if the concentration is below 54.94%. On the other hand, the relationship is positive if it is concentrated above 54.94%.  Hence, it is recommended that the ownership of DMBs should not be concentrated below the cut-off point (54.94%) with the view to earning profits.

This study examines the potential application of forensic accounting in detecting and preventing of fraudulent activities in the administration of Islamic inheritance in Kano State, Nigeria. Data were collected through semi-structured interviews with some selected experts who are aware of Islamic inheritance and forensic accounting. Thematic analysis was used. The study established the nature and forms of the fraudulent activities committed in the administration of Islamic inheritance, such as non-compliance with the provision of Islamic inheritance law, hiding some inherited estate, the non-usage of professional valuers and the advice of experts, misappropriation of inherited cash, mismanagement of inherited wealth, etc. The key fraudsters include the eldest heirs, the parents of heirs (particularly mothers), court officials, estate valuers, relatives and the trustees of the deceased. The respondents strongly believe that forensic accounting could be used as a reliable instrument to detect and prevent such forms of fraudulent activities.