Vision

To be an internationally recognized regulator of the accountancy profession

Mission

To promote and protect the accountancy profession and financial interest of Malawians and international investors in Malawi

Objectives of MAB

–          To promote high quality reporting of financial and non-financial information by entities

–          To promote the highest professional standards among auditors and accountants

–          To enhance the credibility of financial reporting

–          To improve the integrity, competence and transparency of professional activities in accounting and auditing

–          To improve the quality of accounting and auditing services

–          To protect the interests of the general public and investors

–          To adopt and ensure compliance with and the enforcement of applicable local and international accounting and auditing standards

–          To encourage effective collaboration with other regulators

FUNCTIONS OF MALAWI ACCOUNTANTS BOARD

–          Review statutory financial statements and financial reports of public interest entities

–          Advise colleges and the Institute on matters pertaining to examinations and training of accountants

–          Encourage cooperation between the Institute and other professional bodies in matters of common interest

–          Advise the Minister on accountancy and cognate matters

–          Maintain Register of chartered accountants and diplomate accountants

–          Promote the standardisation of qualifying examinations on common subjects

–          Monitor the accuracy and fairness of financial reporting and enforce compliance with accounting standards

–          Oversee the regulatory and professional development activities of professional accountancy bodies

–          Accredit professional accountancy bodies and trainers that meet the required standards

–          Oversee the activities of professional accountancy bodies including their training and professional qualification examinations

–          Formulate any syllabus, training requirement or examination structure applicable to its registrants or prospective registrants.