Find Accountancy, Audit and Tax expertise in Malawi

Overview

There is a good choice of accountancy firms in Blantyre and other business centres in Malawi. The sector consists of both local firms and branches of the international accountancy network, including the presence of the ‘Big Four’ firms – Deloitte, PwC, Ernst and Young, and KPMG. The sector is overseen by the Companies Act 1984, which does not enforce the application of International Financial Reporting Standards (IFRS) or other accounting standards. However, the Act does require companies to keep proper accounting records and prepare financial statements. The Society of Accountants in Malawi (SOCAM) is mandated to set accounting and finance standards by the Public Accountant Act. SOCAM has adopted the IFRS in relation to corporate financial accounting in the country. Additionally, since 2001 all corporate entities that are listed in the market are producing financial statements in accordance with IFRS. However, strict regulation enforcing this practice is lacking. Despite this, in the World Economic Forum’s Global Competitiveness Report (2012-13) Malawi placed 56th in the world (out of 144 countries) for the strength of its auditing and reporting standards, with a value of 4.8 out of 7, finding it above the world mean of 4.6. In the 2011 World Bank’s Ease of Doing Business Index the country ranked 132nd in the world (out of 183 countries) in relation to resolving insolvency, finding itself below Zambia in 96th place and Tanzania in 122nd place, but above Mozambique at 143rd.

Accountancy, Audit and Tax organisations in Malawi
AM Tarmahomed & Co.
AMG Global
Audit Consult International
Bhagya & Shankar
Cahula & Associates
Capital Partners Ltd
Continental Discount House Ltd
Corporate Governance Centre
Deloitte
Ernst & Young
Global Consultants
Graham Carr & Co.
Hipco Services & Evans & Associates
Institute of Internal Auditors
Johnson & Wilson
KCC Finance Associates
KPMG Malawi
KPMG Malawi
Kumar Associates
Malawi Accountants Board / Public Accountants
Moores Rowland
Mwenelupembe, Mhango & Co.
National Audit Office
PMPB
Price Waterhouse Coopers
Society of Accountants in Malawi, The (SOCAM)
Target Consulting