NEW PRICE ANNOUNCEMENT
Price Adjustment
The Malawi Accountants
Board is regulatory body for accountancy profession in Malawi with an oversight
role over accountants and auditors, in order to improve the quality of
accounting and audit services thereby enhancing credibility of financial
reporting. The Board, further overseas the operations of accountancy training institutions,
professional accountancy organizations and accountancy and audit service providers
with regards to registration, inspection, accreditation and retainership. The overall
objective of the Board is to safeguard the interest of the general public and
investors in Malawi.
Practicing Accountants and Audit firms, Regulations 2017 and 2021, clause No. 25, states that a registered practicing accountant or firm shall pay quality assurance review fees as may be determined by the Board from time to time.
Similarly, first schedule of the Accountancy Training Regulations, 2017, Form 1, Declaration No.4, states that an accountancy training institution should understand that an annual registration fee will be due upon lodging an application and thereafter at commencement of MAB’s financial year end and upon receiving an invoice or reminder from MAB.
Board of Directors of MAB passed a resolution to effect new prices as follows;
|
NO |
SERVICE |
REVISED PRICE (
MWK) |
REMARKS |
|
1. |
University/College Inspection |
2,500,000.00 |
Once off |
|
2. |
University/College re-inspection |
2,500,000.00 |
Once off |
|
3. |
University/College accreditation |
1,500,000.00 |
Once off |
|
4. |
Retainership fees – University/College |
1,659,726.00 |
Per year |
|
5. |
Audit firm registration |
3,000,000.00 |
Once off |
|
6 |
Registration – Once off audit assignments |
5,000,000.00 |
Once off |
|
7. |
Retainership fees- Audit firm |
1,086,228.00 |
Per year |
|
8. |
Certificate replacement -
Audit firm -
Accountancy Training
Institution -
Accountancy Service
Provider |
1,500,000.00 1,500,000.00 1,500,000.00 |
Once off |
|
9. |
Audit firm practice review |
2,228,160.00 |
Each signing practitioner |
|
10. |
Registration of accounting firm |
1,000,000.00 |
Once off |
|
11. |
Retainership of accounting firm |
500,000.00 |
Per year. |
|
12. |
Public Interest reviews; |
|
|
|
|
-
Category 1 |
2,200,000.00 |
Per year |
|
-
Category 2 |
4,450,000.00 |
Per year |
|
|
-
Lower cap |
5,000,000.00 |
Per year |
|
|
13. |
Members Certificate replacement; -
Practicing Resident -
Non-Practicing Resident -
Diplomate |
120,000.00 90,000.00 60,000.00 |
Once off Once off Once off |
|
14. |
Reference Letter -
Audit Firm -
Practice Resident -
Non-Practising Resident -
Diplomate |
120,000.00 15,000.00 10,000.00 10,000.00
|
Once off Once off Once off |
|
15. |
Syllabus Review |
1,500,000.00 |
Once off |
The new prices were effective 1st April, 2026 and shall be reviewed at the discretion of the Board of Directors from time to time.
The Malawi Accountants Board values and appreciates the cordial relationship that exists with its esteemed business partners and, as a regulator will continue to deliver its mandate in an efficient and effective manner. The Board therefore expects its business partners with outstanding fees to settle their balance before 30th April, 2026.
For more details contact:
The Chief Executive Officer
Malawi Accountants Board
Bible House, Victoria Avenue
P O Box 2271
BLANTYRE
E-mail: info@mab.mw
Tel: (+265) 989 651 300
