European Union Team Leader for Economic Trade and Governance sections, Jose Navarro, said that upcoming accountants in Malawi should know accounting standards that are essential to the country’s economic growth as they provide financial information that is useful in decision making.

Speaking further, he remarked that governance standards are low in Malawi, considering the cases of public funds looting. While admitting that such happens almost in every country, he urged future accountants to discuss issues concerning their profession so that their sense of ethical standards is increased.

The Institute of Chartered Accountants in Malawi (Icam) Chief Executive Officer Francis Gondwe commented that his firm has arranged necessary structures aimed at disciplining accountants.