The Establishment of IIA Malawi
Background
The establishment of IIA Malawi was conceptualized in 1998 by three seasoned internal auditors; Anthony Mukumbwa (then from Illovo Co), Mcfassy Kawawa (National Bank), and late Isaac Kanje (National Bank) at the Illovo Cottage in Mangochi. Anthony Mukumbwa became the first president followed by Mcfassy Kawawa.
From this very humble beginning the Institute now serves over 185 members and has a secretariat in located Delamere House in Blantyre.
Incorporation
IIA Malawi is an association incorporated as a non-profit organization, a Company Limited by Guarantee, under Section 14 of the Companies Act (Cap. 46:03). The IIA Malawi is an affiliate of The Institute of Internal Auditors Inc. (IIA Inc.).
Being the country’s sole internal audit profession’s flag career, the IIA Malawi leads the profession in education, research, and technological development. The Institute serves as the profession’s watchdog and provides resources on significant auditing issues, both specific to the country’s economic social operating environment and to the globe as a whole.
IIA Malawi in collaboration with the IIA Inc. provides internal auditing practitioners, executive management, boards of directors and audit committees with standards, guidance and information on internal auditing best practices. It also presents important conferences and seminars for professional development, produces leading-edge educational products, provides quality assurance reviews and benchmarking, and conducts valuable research projects in collaboration with the IIA Inc.’s Research Foundation among many other activities.
Mission
The IIA Malawi mission is: “To be the recognized internal audit’s profession’s national voice, chief advocate, recognized authority, acknowledged leader, and principal educator on governance, risk management and control to improve the state of the internal audit profession in the country and enable it to contribute highly towards the economic development of the country through the promotion of good governance, greater efficiency, transparency & accountability, sound operating control systems, risk management and compliance to laws, regulation and applicable business standards”.
Vision
The Malawi nation hosting strong and prosperous companies, organizations, institutions and government ministries/agencies with effective and efficient risk management, internal control and governance processes that are independently, objectively, and systematically evaluated by proficient members of the institute. A country having an attractive investment setting with minimized wastage, greater efficiency, best practice, and a corrupt free operating business environment.
Core Values
Professionalism, recognition, value adding and sustainability are the bottom line of all activities carried out by the institute and its members.
IIA Malawi vision is to have internal audit in the country as a profession that really adds value to organizations (large, small and medium sized) they serve and contribute to the economic growth of the country. The Institute wants to have practicing internal auditors that are properly trained, disciplined and registered members of the Institute so that their services are of quality and adheres to the professional practice standards and the code of ethics.
IIA Malawi wants to network and partner with other relevant professional bodies, executive management, boards of directors and audit committees of organizations so that they are well conversant with internal auditing standards, guidance and information on internal auditing best practices and related governance issues.
IIA Malawi also wants to have a prominent capacity that will permit it to help the public sector and other government agencies to embrace best practices in internal audit so that auditors in the public sector contribute effectively towards improving productivity efficiency, transparency, accountability and prevention of gloss corruption in the management of public funds.