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PRESS RELEASE

For immediate release

 

The institute of chartered accountants IN MALAWI Joins Chartered Accountants Worldwide and strengthens international presence

The Institute of Chartered Accountants in Malawi (ICAM) has become the fourteenth member of the international body, Chartered Accountants Worldwide. ICAM is the ninth Chartered Accountancy body to be awarded Associate membership to the organisation since it was launched in February 2013.

As an Associate Member, ICAM joins a group of globally-recognised Chartered Accountancy bodies that are committed to enhancing the value of the Chartered Accountant brand and the profession. Being admitted to Chartered Accountants Worldwide recognises the importance of the qualification in Malawi and demonstrates ICAM’s commitment to the highest professional and ethical standards.

 

The Society of Accountants in Malawi (SOCAM) was born in 1969.  The successor body – The Institute of Chartered Accountants in Malawi (ICAM) merged the operations of Public Accountants and Examinations Council of Malawi (PAEC) with those of SOCAM. ICAM was incorporated on 23rd August 2013 and is the Professional Accountancy Organisation in Malawi (PAO).

Chartered Accountants have been a mark of excellence in the accountancy and business sectors for over 150 years. There are Chartered Accountants working in over 200 countries across the world.

Michael Izza, Chairman of Chartered Accountants Worldwide said “We are delighted that ICAM has joined the Chartered Accountants Worldwide family. ICAM has played a key role in developing the accountancy profession in Malawi over the last four decades and shares our ambition to work together and promote the very highest standards of the profession globally. We look forward to the fresh perspectives ICAM will bring to the table.”

President Bwighane Joel Mwenelupembe of ICAM said, “As an institution committed to excellence, ICAM is delighted to become an Associate Member of Chartered Accountants Worldwide and to be part of this global family of chartered accountants. We look forward to working with Chartered Accountants Worldwide to further increase the value and reputation of the Chartered Accountancy brand in Malawi and internationally”.

ICAM, to date, has 2,000 members.  The number is expected to double to 4,000 by 31 December 2019.  There are currently about 8,000 students on the ICAM register, out of which, 1,500 took exams at the June 2019 diet.  By joining Chartered Accountants Worldwide as an Associate member, ICAM expect to learn from the full members of CAW how to remain competitive in the market place and position the qualification as a global brand whilst remaining local and benchmarking the CA Malawi qualification with the best in the world.

 

Chartered Accountants Worldwide members include the founder members: Chartered Accountants Australia and New Zealand (CA ANZ), Chartered Accountants Ireland (CAI), Institute of Chartered Accountants in England and Wales (ICAEW), the South African Institute of Chartered Accountants (SAICA), the Institute of Singapore Chartered Accountants (ISCA) and the Institute of Chartered Accountants of Scotland (ICAS) and the associate members: the Institute of Chartered Accountants of Pakistan (ICAP), The Zambia Institute of Chartered Accountants (ZICA), the Institute of Indonesia Chartered Accountants (IAI), the Institute of Chartered Accountants of India (ICAI), the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) , the Institute of Chartered Accountants of Bangladesh (ICAB), the Institute of Chartered Accountants of Nigeria (ICAN) and the Institute of Chartered Accountants in Malawi (ICAM).- ENDS –

Media enquiries:

 

The Institute of Chartered Accountants of Malawi :

Contact Patrick Achitabwino :  patrick.achitabwino@icam.mw

 

Chartered Accountants Worldwide :

Contact James Douglass on +44 (0)20 7920 8718 or email james.douglass@icaew.com

                                                                         

 

Notes to editors:

 

  1. Chartered Accountants Worldwide

Chartered Accountants Worldwide has been created by the leading institutes of Chartered Accountants from around the world to support, develop and promote the vital role that Chartered Accountants play throughout the global economy. More information on the organisation can be found at charteredaccountantsworldwide.com 

 

Chartered Accountants Worldwide Associate membership is open to Chartered Accountancy bodies who:

  • refer to their members as Chartered Accountants and legitimately use the Chartered Accountant brand;
  • are a member of IFAC or an IFAC Recognised Regional Organisation (e.g., CAPA or PAFA);
  • require their members to commit to continuing professional development;
  • are committed to working together to promote the Chartered Accountancy brand; and
  • can demonstrate how they are improving the quality of the Chartered Accountancy qualification.

 

  1. Institute of Chartered Accountants of Malawi

ICAM is a leading professional membership organization that promotes and develops accountancy profession in Malawi. ICAM members hold a widely respected professional accounting qualification which supports enterprise, corporate governance and sustainable growth in the business environment. As leaders in accountancy, finance and business ICAM members have the knowledge, skills and commitment to maintain the highest professional standards and integrity. ICAM is working to promote and regulate high quality financial reporting and auditing in Malawi, to develop and maintain the competence of professional accountants and to enhance the reputation of the accounting profession in all sectors of the economy.

For more information, please visit : https://www.icam.mw/