Members’ 2024 Annual Subscription.

1.       Background.

The Malawi Accountants Board (MAB) is a regulatory body for the Accountancy Profession in Malawi with an oversight role over accountants and auditors, in order to improve quality of accounting and auditing services thereby enhancing the credibility of financial reporting.  It was established under the Public Accountants and Auditors Act No. 5 of 2013 which came into operation on 1st April 2014.  The overall objective is to safeguard the interest of the general public and investors in Malawi.


2.       Mandate

The Malawi Accountants Board is mandated to regulate financial matters and provide direct oversight over Professional Accountancy Bodies and Auditors in order to promote high-quality reporting of financial and non-financial information by entities, and promote the highest professional standards amongst auditors and accountants.

3.       Members. 

Section 22(1) of the Public Accountants and Auditors Act (No.5 of 2013), empowers the Malawi Accountants Board to establish a register known as the register of Chartered and Diplomate

Accountants which is divided into three parts as follows;

§  Register of Chartered Accountants in Public Practice (Practicing)

§  Register of Chartered Accountants (Non Practicing Residents)

§  Register of Diplomate Accountants

Section 22 (2b), further gives the Board powers to issue, cancel or suspend registration certificates   to members of the Board.  

As part of the regulatory role of ensuring that the Board is maintaining a register of Chartered Accountants that are in good standing, through the Institute of Chartered Accountants in Malawi

(ICAM), MAB is reminding members from all categories of the register that includes Non-Resident Practicing and Non Resident Non Practising to subscribe for their membership by 31st March 2024.  Kindly take note that a member’s certificate ceases to be valid if it has not been subscribed for in that particular year. 


The Board, would therefore, proceed to exercise its powers in accordance with Section 22(2)(b), should a member(s) decide not pay subscription through ICAM by 31st March, 2024. Please note that this is only applicable to all registered members with outstanding subscription fees.