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All Journal International Journal of Islamic Economics and Finance (IJIEF) IPSAR (International Public Sector Accounting Review)
Zubir Azhar
Universiti Sains Malaysia
Economics, Econometrics & Finance

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PROPOSING AWQAF ALTERNATIVE PLAN (AAP): THE WAY FORWARD & SUSTAINABLE HIGHER EDUCATION FINANCIAL SYSTEM Anwar Allah Pitchay; Mohd Najwadi Yusoff Abdul Rahman; Mohamed Asmy Mohd Thas Thaker; Zubir Azhar; Al Amin Mydin; Mohamad I’sa Abd Jalil
International Journal of Islamic Economics and Finance (IJIEF) Vol 1, No 1 (2018): IJIEF Vol 1 (1), July 2018
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (728.213 KB) | DOI: 10.18196/ijief.113

Abstract

The future direction of the public university is to self-sustained due to the inconsistency of the national economic growth. For example, reduced in the national income has forced the Malaysian government to cut the allocation of funds to various ministries’ in 2016 compared to 2015 budget. The consequences of this phenomenon the government has reduced the allocation of budget to Ministry of Higher Education, which is cut by RM2.4 billion, from RM15.78 billion in 2015 compared to RM13.37 billion in 2016. This scenario has imposed various challenges to many public universities’ management to manage university expenses and explore new avenue to generate income. There are various ways to generate income and we find most of the tertiary education in Malaysia is not able to practice effective management especially in managing the cost of organizing a program. For example, food and beverages (FB) spend by the university during events are not effective and most of the time is wasted. This argument is developed based on the observation and also supported by an informal interview with a vice-chancellor (VC) of one of the public university in Malaysia. The VC do agree that the university management needs to find a solution to overcome the issue of wastage due to the forecasted cost rather than an accurate cost to organize a university’s events. Therefore, we believe that the main issue faced the university’s management is to identify an exact number of participants and etc. Thus, the current practice is based on the forecasted estimation rather than accurate estimation. Therefore, to solve this problem, the present study aims to provide an opportunity to the tertiary education in Malaysia which able to estimate an accurate cost and at the same time able to create waqf fund using effective fund management approach by proposing awqaf alternative plan (AAP) model. The proposed model is expected to generate Waqf fund and eliminate wastage management practice. 
Aligning Government Capital Expenditures with The Sustainable Development Goals: Evidence from Indonesia Amrie Firmansyah; Zubir Azhar
IPSAR (International Public Sector Accounting Review) Vol. 3 No. 1 (2025): IPSAR
Publisher : Polytechnic of State Finance STAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31092/ipsar.v3i1.3653

Abstract

This study analyzes the alignment between government capital expenditure and the Sustainable Development Goals (SDGs) agenda within Indonesia's fiscal policy framework. Capital expenditure serves as a strategic instrument of public finance to enhance infrastructure, stimulate economic growth, and improve the quality of public services. However, its effectiveness depends on the extent to which fiscal implementation reflects the principles of sustainable development. Using a qualitative descriptive approach with content analysis, this study examines official government documents, including the Central Government Financial Statements (LKPP) and the Annual Summary of Audit Results (IHPS) published by the Audit Board of Indonesia (BPK) for fiscal years 2020–2024. These documents are analyzed in relation to the national development framework outlined in the Medium-Term National Development Plan (RPJMN) 2020–2024 and the implementation of the SDGs as stipulated in Presidential Regulation No. 59 (2017). The findings reveal that improvements in efficiency, accountability, or sustainable outcomes have not fully accompanied the increasing allocation and realization of capital expenditures. Audit results highlight persistent weaknesses in project planning, procurement processes, and asset management, which undermine the transformative potential of government investment. Also, while Indonesia's fiscal policy has formally integrated the SDGs, its implementation remains predominantly output-oriented rather than outcome-driven. Strengthening the integration of SDG indicators into budget planning and evaluation, supported by performance-based auditing, is essential to ensure that every rupiah of capital expenditure contributes effectively to sustainable economic, social, and environmental development.
Assessing The Readiness of Local Governments for Sustainability Reporting in Indonesia: A Policy and Institutional Analysis Amrie Firmansyah; Zubir Azhar
IPSAR (International Public Sector Accounting Review) Vol. 3 No. 1 (2025): IPSAR
Publisher : Polytechnic of State Finance STAN

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31092/ipsar.v3i1.3654

Abstract

This study assesses the readiness of local governments in Indonesia to implement sustainability reporting within the framework of public accountability and institutional change. Using a scoping review approach, the analysis covers fifteen national and international documents, including key regulatory frameworks and reporting standards. The dataset consists of Indonesia's core policy instruments—such as Law No. 23/2014, Law No. 1/2022, Law No. 59/2024 on the National Long-Term Development Plan (RPJPN) 2025–2045, Presidential Regulation No. 12/2025 on the National Medium-Term Development Plan (RPJMN) 2025–2029, and the Environmental Strategic Assessment (KLHS RPJPN 2023)—as well as global references from the International Public Sector Accounting Standards Board (IPSASB), the International Federation of Accountants (IFAC), and the Organisation for Economic Co-operation and Development (OECD). The findings indicate that Indonesia has developed a strong national policy foundation supporting sustainable governance; however, at the subnational level, sustainability reporting remains conceptual and fragmented. Institutional barriers, including weak inter-agency coordination, disconnected data systems, and limited human resource capacity, hinder implementation. Existing accountability mechanisms, such as LPPD and LAKIP, continue to prioritize administrative compliance over environmental, social, and governance (ESG) impacts. Additionally, the study concludes that Indonesia's public sector exhibits normative alignment with global frameworks (IFRS S1–S2, IPSASB, and IFAC), but lacks operational institutionalization at the local level. Sustainability reporting has not yet transitioned from a compliance-oriented tool into an integrated accountability mechanism. Advancing sustainability accountability in local governance requires stronger institutional coordination, professional capacity building, and data system integration consistent with public sector reporting reforms led by the Government Accounting Standards Committee (Komite Standar Akuntansi Pemerintahan, KSAP).
Co-Authors Al Amin Mydin Amrie Firmansyah Anwar Allah Pitchay Mohamad I’sa Abd Jalil Mohamed Asmy Mohd Thas Thaker Mohd Najwadi Yusoff Abdul Rahman