The Malawian Banking Act 2010 and Financial Services Act 2010 require that external auditors of Malawian banks should perform extra duties on behalf of Central Bank in additional to specific duties outlined in the Malawi Companies Act 1984 and International Standards on Auditing (ISAs). The...

Malawi Stock Exchange Listing Rules stipulate that listed companies are required to publish interim financial statements covering half year period in accordance with International Financial Reporting Standards. Equally, Reserve Bank of Malawi Information Directive dictates that all Malawian...

Multinational Banks operate on a wider economic and geographical spectrum and are faced with vast challenges in each economic territory. There is however general observation that multinational banks do not make proper disclosures on portfolios operating in hyperinflationary economies as outlined...

Understanding the market efficiency of a particular stock market is very important to assist existing and prospective investors to make well informed decisions. In a capital market where few players dominate the market, insider dealings are more likely to take place which has significant impact...

The roles and liabilities of public accountants (audit firms) are limited to the members (shareholders) or those charged with corporate governance (such as trustees) of a particular firm as clearly affirmed in International Standard on Auditing (ISA 200) – Objectives of the auditor.The results...

The role of Non-executive directors in public limited companies has been gaining eminence in the global perspective. Non-executive directors are seen as counter-balancing elements to the immerse powers of the executive directors who have long been accused of abusing their vested powers for their...

Intangible Assets are becoming increasingly important in the global perspective as we are in the middle of the information age. Global investors are anxious to invest in firms which demonstrate abilities to grow rapidly and reward investors with high returns in form of meaningful capital gains...

Malawian Banking Industry is characterised by supra normal profits and excessively high executive compensation. This is against the backdrop of negative growth rate of Gross Domestic Product in Malawi indicating that several sectors are struggling to cope up with the global financial meltdown of...

Some pressure groups propagate that agency costs in companies could be reduced if shareholders would have access to board minutes as the shareholders would have first hand information regarding the affairs of the reporting entity rather than analysing the company through annual reports which...

IFRSs 10 and 12 became effective on 1st January 2013 and are applicable to reporting entities using International Financial Reporting Standards and whose objectives are to provide clear guidelines on how parent subsidiary relationship exists despite the fact that one entity may not have majority...