The study examines the views of accountants concerning the importance of items in the developed index for Islamic Financial and Social Reporting (IFSR) as well as measures and discusses the level of weighted IFSR for Islamic banks based on the IFSR index developed for Malaysian Islamic banks. The research uses the questionnaires and the annual reports to collect the relevant data with respect to the views of accountants and IFSR score of Islamic banks respectively. The findings suggest that the financial part, and the auditing and governance part in the index of IFSR are important and close to important, respectively, while the social part is viewed as fairly important. Moreover, the other finding reflects that the weighted IFSR for Islamic banks in Malaysia is considered as fair. The findings with respect to the level of weighted IFSR disclosure may not be generalised to the years prior and after the examination period. The research provides empirical insights on the importance of items in the IFSR index and the weighted level of IFSR practices among Malaysian Islamic banks. The paper highlights the importance of items in the IFSR index as well as IFSR disclosure in enhancing the accountability and sustainability of Islamic banks. � 2017, Universiti Malaysia Sarawak. All rights reserved.

The study proposes and discusses the development of an index of Islamic Financial and Social Reporting (IFSR) for Islamic banks. The index of IFSR is carefully developed based on the relevant and applicable standards, guidelines and literature from an Islamic perspective such as the Malaysian Accounting Standards Board (MASB), Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), Islamic Financial Services Board (IFSB), Bank Negara Malaysia (BNM) and Islamic social reporting literature. The index is developed in three parts, namely, financial, social, and auditing and governance. The items within the finance section are developed to ensure that the Islamic banks disclose relevant financial information. The items for the social part aim to ensure that the Islamic banks provide the relevant information regarding social and environment. The items within the auditing and governance part are developed to ensure that the Islamic banks provide relevant information regarding the monitoring and supervising activities that the Islamic banks have undertaken. The IFSR index may be lacking in terms of its usage generalisability as it is specifically developed for IFIs. The developed index of IFSR aims to promote a more appropriate level of disclosure among the Islamic banks. The need for the index is motivated by the growing importance of Islamic banks, not only from the economic perspective but also from the social perspective. � 2016, Virtus Interpress. All rights reserved.