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

Author

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  • Phiri Kampanje, Brian

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.

Suggested Citation

  • Phiri Kampanje, Brian, 2025. "Jurisdiction’s approval confusion on the adoption of IFRS S1 and S2 by Malawi’s listed companies," MPRA Paper 126553, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:126553
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    File URL: https://mpra.ub.uni-muenchen.de/126553/1/MPRA_paper_126553.pdf
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    References listed on IDEAS

    as
    1. Christopher Nobes & Christian Stadler, 2024. "Deviations from the Mandatory Adoption of IFRS in Europe? Why Non-Adoption Does Not Mean Non-Compliance," European Accounting Review, Taylor & Francis Journals, vol. 33(4), pages 1497-1519, August.
    2. Zaenal Fanani & Angesthy Puji Rahayu & Angga Erlando, 2024. "Determining factors to implementing IFRS for SMES: a study in International Accounting Standards Board countries," Cogent Business & Management, Taylor & Francis Journals, vol. 11(1), pages 2420767-242, December.
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      JEL classification:

      • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
      • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
      • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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