The Institute of Chartered Accountants in Malawi (Icam), a grouping of professional accountants, has thrown its weight behind its five-year strategic plan, saying it sets the tone for long-term growth.
The plan, which was launched on Friday in Blantyre and will run from 2017 to 2021, will ensure that accountancy qualifications, standards of accounting and auditing and the standing of members are acceptable both locally and internationally, according to Icam president Henry Chowawa.
“To come up with such a comprehensive strategic plan takes a lot of effort and time. The final output is a good road map for the institute for the five years to come,” he said at the launch.
Some of the highlights of the plan include strengthening of the organisation and development, optimising internal business processes, satisfying and delighting customers and maintaining financial sustainability.
Chowawa, who is financial controller at Limbe Leaf Tobacco Company, noted that the strategic plan was developed through a consultative process with several stakeholders and acknowledges the changing environment and the need to be on top in terms of provision of products and services.
In an interview, the guest of honour at the function, Morgan Tembo, who is former chief financial controller of Limbe Leaf Tobacco Company, said it is critical for any organisation to have a road map to refer to in terms of direction.