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Malawi

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Financial Reporting Framework in Malawi

In Malawi, all the companies that have public accountability are required to apply Full IFRSs. A company has public accountability if:

  • it is a listed company or is in the process of listing with the Malawi Stock Exchange or any other recognised stock exchange. The listing can either be for the company's equity or debt.
  • its articles provide for unrestricted transfer of shares or it is a Public Company in terms of the Malawi Companies Act 1984
  • it is permitted by its articles to offer shares to the public
  • it holds assets in a fiduciary capacity for a broad group of outsiders, such as a bank, an insurance entity, securities dealer/broker, pension fund or mutual fund
  • it is a corporation or company that is owned by the public through the Government for example statutory corporations, also known as Parastatals
  • it is has a legal requirement to publish general purpose financial statements in any public media
  • it is a material subsidiary of an entity with public accountability

Malawi plans to require the IFRS for SMEs for all other companies.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.