Welcome to The Society of Accountants in Malawi
The Society of Accountants in Malawi (SOCAM), is the accountancy professional institute in Malawi. It was established in 1969 with an aim of ‘securing for the country a group of highly qualified professional persons capable of discharging the onerous duties which increasingly devolve upon public accountants for the benefit of the business, government and the nation at large’. SOCAM consists of over 500 professionally qualified Accountants working in different sectors of the economy including public practice, Government, the private sector and academia.
Over the years SOCAM has grown to become an influential professional body with the public and the Government relying on its expertise on various technical issues. SOCAM has also a growing responsibility to manage and regulate the accountancy profession in Malawi, and ensure high and global professional standards. SOCAM is a member of ECSAFA and IFAC, and has fostered a lot of other partnerships with other professional bodies locally and internationally.
SOCAM is given specific powers and duties under the Public Accountants and Auditors Act (Laws of Malawi Chapter 53:06).
The Act provides the functions of the Society as to....
