Members of staff

 

Welcome to our website

 

WORD FROM THE CEO

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We are pleased by the passing of the Public Accountants and Auditors Act 2012. This has resulted into a change in the operating environment of the Malawi Accountants Board (MAB) as it has been delinked from the Public Accountants Examination Council (PAEC). From now onwards, MAB will be operating as a standalone institution.

With the new Act in place, the Malawi Accountants Board has more powers than before as registration for those who would like to work as accountants is mandatory (Section 26). MAB will also be responsible for accrediting tuition providers of the accountancy profession in Malawi, (Section 16(1)(w) thereby improving the standards of teaching the profession. Under the same Section 16(1)(w), MAB will also be responsible for accreditation of professional accountancy bodies that meet the required standards. In addition, MAB will be responsible for supervision of examinations and registration of its members. In this respect, MAB will work hand in hand with accountancy tuition providers and the Institute of Chartered Accountants in Malawi (ICAM). It should be noted here that for one to be a member of the Board, he/she has to register through ICAM first and ICAM will submit his/her name to MAB for registration. Members of MAB will be in three categories namely diplomate, non-practicing and practicing.

MAB also has a duty to conduct Reviews of statutory Financial Statements and Financial Reports of Public Interest Entities (PIEs) under Section 16(1)(q). This is a new responsibility that MAB will be engaged in. It will also conduct Quality Assurance Reviews of Public Auditors and Audit Firms under Section 16(1)(u).

With the new Act that came into operational on 1st April 2014, all accountants are being advised to start registering with MAB through ICAM. Employers are being advised to register their accounts members of staff with MAB. Tuition providers of the accountancy profession should start working towards the improvement of their teaching environment, infrastructures and staff so that their institution should pass first time once the accreditation exercise commences.

It is the hope of MAB that the regulatory roles of the Board will be implemented without many problems. This could be achieved if all the stakeholders are co-operative and there is good communication between MAB and them.

Lastly, MAB is wishing all its stakeholders the best as we will be sensitizing them and eventually implementing MAB’s mandate as spelt out in the Public Accountants and Auditors Act 2012.

D. Muwalo

 
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