Jurisdiction’s approval confusion on the adoption of IFRS S1 and S2 by Malawi’s listed companies

Phiri Kampanje, Brian (2025): Jurisdiction’s approval confusion on the adoption of IFRS S1 and S2 by Malawi’s listed companies. Published in: INTL Sustainability Journal, ISSN: 3079-0263 , Vol. 3, No. 2 (1 August 2025): pp. 1-32.

Abstract

Adoption of IFRS S1 and S2 became mandatory on 1st January 2024 and yet only 33 percent of Malawi’s listed companies disclosed to have adopted the said new sustainability standards and purported no significant impact on the financial statements without producing the required reports as per the International Sustainability Standards Board. The board of directors of those listed companies which did not adopt IFRS S1 and S2 expressed ignorance and pushed the issue to the external auditors who incorrectly stated that prior approval was required as a jurisdictional matter. Some listed companies produced ESG and Sustainability Reports which to lesser extent mitigate the problem. Remedial actions are needed now.

• Item Type: MPRA Paper
• Language: English
• Keywords: Jurisdiction; Auditor, IFRS S1 and S2; Malawi
• Subjects: M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M4 - Accounting and Auditing > M41 - Accounting; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M4 - Accounting and Auditing > M48 - Government Policy and Regulation; M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M4 - Accounting and Auditing > M49 - Other

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