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accountants and economic growth.ppt rvd

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accountants and economic growth.ppt rvd

  1. 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. 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. 3. Prologue Economic Growth in Malawi
  4. 4. Prologue..
  5. 5. Prologue…. What are we talking about when we say economic growth?
  6. 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. 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. 8. After the MDGs are we anywhere better economically ?
  9. 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. 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. 11. What are the proposed Global Goals?
  12. 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. 13. Building CONT… Accountants and Governance?
  14. 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. 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. 16. Building CONT…. Professionals Accountants “have a responsibility “
  17. 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. 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. 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. 20. Epilogue
  21. 21. Epilogue