1. Presentation at the Malawi Economic Growth
Conference, Mt Soche Hotel, Blantyre, 2 Dec 2015
Thokozile Kuwali- Mushani
Accountants/Auditors Partnering
in building and sustaining
Economic efficiency and
effectiveness

2. Contents
 Prologue
 Economic growth in Malawi
 Professional accountants
 Building economic efficiency and
effectiveness
 Internal auditor
 Sustaining economic efficiency and
effectiveness
 Why partnership …
 How to partner…
 Epilogue

3. Prologue
Economic Growth in Malawi

4. Prologue..

5. Prologue….
What are we talking about when we say
economic growth?

6. Prologue ….
Just some facts
• Malawi ranked160/182 countries (HDI).
• 74% under US$1.25/day and 90% underUS$2/day threshold –
UN
• Only 12%of households have access to credit.
• Over 40% , the majority being female-headed households live
below the poverty line.
• 45% of the <5 years are stunted
• 16m pop. against 11m in -2000 (94000/42000km(sq))

7. Prologue cont….
MDGs for Malawi
Eradicate extreme poverty and hunger
Achieve universal primary education
Promote gender equality and empower women
Reduce child mortality
Improve maternal health
Combat HIV & AIDS, Malaria and other diseases
Ensure environmental sustainability
Develop a global partnership for development

8. After the MDGs are we anywhere better
economically ?

9. Challenges !!!!!!!!!!!!
• The MDGs are too beautiful
• Implementers of the MDGs are in the opposite side
• Mostly skewed towards women
• Selfishness and greed
• Too “poor” to handle the thinking
• Complacent mind , lazy fair attitude
• Not me syndrome
• No ethics at all
• No professionalism …AC/IA…................

10. Where we are !!!!
Sustainable Development Goals (SDGs)
gender neutral and for all
Need for building and sustaining the goals for economic
growth
Accountants need to do their part

11. What are the proposed Global Goals?

12. Building economic efficiency and effectiveness
– Accountants
• Accountants must put
in place actions that
manages risks and
increase the likelihood
that establishes
objectives and goals will
be achieved, incl SDGs

13. Building CONT…
Accountants and Governance?

14. Building CONT..…
Accountants and ERM (COSO)
1.Effectiveness and efficiency of operations
2.Reliability of financial reporting
3.Compliance with applicable laws and regulations
• Tax Laws
• IAS

15. Building CONT….
• Ethical – tone at the top
( words vs deeds)
• Org structure for comms
• Clear definition of
responsibility
• Delegation of authority
• Accountability measures
Accountants and controls ?
• Qualification- proficiency ,
competence and CPD
• Reconciliations
• Security of assets and
records
• Segregation of duties
• Disaster recovery plan and
BCP

16. Building CONT….
Professionals Accountants “have a responsibility “

17. Sustaining economic efficiency and
effectiveness - Internal Auditors
• “IA come in to give
assurance that the
building is solid and is
built on a solid ground
“

18. Why Partnership ?
• Convergence- thin line
in todays world on what
we do
we all look at
Governance , Risk and
Controls
Independence and
objectivity
Quality reporting
financial /non financial
Advisory role

19. HOW TO PARTNER
Auditors/ Accountants
• Review and assurance
• Consultancy services
Auditors/Public A/C (Ext)
• Reliance for efficiency
• Follow up on mgt letter
recommendations
• Coordination
• Sharing reports/ Working
papers

20. Epilogue

21. Epilogue