- Type
- Act
- Year
- २०५३ BS
- Status
- In force
- Category
- खण्ड ६: राजश्व तथा आर्थिक प्रशासन · Volume 6: Revenue and Financial Administration
- Official text
- Official page Official text (PDF)
- English translation
- Official English translation archived copy: the original page is no longer online
Includes amendments up to: 2066 BS. Translations may not include later amendments. The Nepali text is the authoritative law.
Analysis drawn from official reports, court rulings and published research, each cited. Figures are being double-checked against the source documents; corrections are welcome.
What does it do?
- The Act (the Nepal Chartered Accountants Act) establishes the Institute of Chartered Accountants of Nepal (ICAN) as an autonomous body to develop and regulate the accounting profession, raise public trust in it, and develop qualifications and exams with international recognition. No one else may use the Institute's name or symbol or issue certificates in its name.लेखा व्यवसायको विकास र नियमन गर्न, त्यसप्रति सामाजिक विश्वास बढाउन र अन्तर्राष्ट्रिय मान्यताप्राप्त योग्यता र परीक्षा प्रणाली विकास गर्न यस ऐनले स्वशासित संस्थाका रूपमा नेपाल चार्टर्ड एकाउन्टेन्ट्स संस्था (ICAN) स्थापना गरेको छ। अरू कसैले संस्थाको नाम वा चिह्न प्रयोग गर्न वा संस्थाका नाममा प्रमाणपत्र दिन पाउँदैन। Nepal Law Commission (lawcommission.gov.np), consolidated official text Preamble, p. 1; Sections 3–6, pp. 4–5
- The Institute is governed by a council of ten chartered accountants and four registered auditors elected by members, plus three people with accounting experience nominated by the government on the Auditor General's recommendation; the president and vice-president are elected from among senior fellow members for one-year terms. The council registers members, sets courses and exams, and its disciplinary committee hears complaints of misconduct, with appeal to the High Court.संस्थाको सञ्चालन सदस्यहरूले निर्वाचित गरेका दश चार्टर्ड एकाउन्टेन्ट र चार दर्तावाला लेखापरीक्षक तथा महालेखापरीक्षकको सिफारिसमा सरकारले मनोनीत गरेका लेखा अनुभव भएका तीन जना रहेको परिषद्ले गर्छ; अध्यक्ष र उपाध्यक्ष एक वर्षका लागि फेलो सदस्यमध्येबाट चुनिन्छन्। परिषद्ले सदस्यता दर्ता, पाठ्यक्रम र परीक्षा सञ्चालन गर्छ, र यसको अनुशासन समितिले आचरणविपरीत कामको उजुरी हेर्छ; निर्णयउपर उच्च अदालतमा पुनरावेदन लाग्छ। Nepal Law Commission (lawcommission.gov.np), consolidated official text Sections 7, 11, 14, 16–25, pp. 5–21
- The government forms an Accounting Standards Board to regulate financial reporting and an Auditing Standards Board (chaired by a fellow chartered accountant, with representatives of the finance ministry and the Auditor General's office) to set auditing standards. Only holders of the Institute's professional certificate may provide audit services (the government may make separate arrangements for audits other than of companies), and audit firms must be registered with the Institute; auditing without a certificate is punishable by a fine of up to Rs 2,000, up to three months' prison, or both.वित्तीय प्रतिवेदनको नियमन गर्न सरकारले लेखामान बोर्ड र लेखापरीक्षणमान तोक्न फेलो चार्टर्ड एकाउन्टेन्टको अध्यक्षतामा अर्थ मन्त्रालय र महालेखापरीक्षकको कार्यालयका प्रतिनिधिसमेत रहेको लेखापरीक्षणमान बोर्ड गठन गर्छ। संस्थाको पेशागत प्रमाणपत्र लिएकाले मात्र लेखापरीक्षण सेवा दिन पाउँछन् (कम्पनीबाहेकका लेखापरीक्षणमा सरकारले छुट्टै व्यवस्था गर्न सक्छ), र लेखापरीक्षण फर्म संस्थामा दर्ता हुनुपर्छ; प्रमाणपत्र नलिई लेखापरीक्षण गरे दुई हजार रुपैयाँसम्म जरिवाना वा तीन महिनासम्म कैद वा दुवै हुन्छ। Nepal Law Commission (lawcommission.gov.np), consolidated official text Sections 15क–15ङ, pp. 13–17; Sections 28क–29, p. 23; Section 41, p. 29
Gaps, loopholes and improvement ideas
None documented in the official reports we have reviewed so far.
Where does it conflict with other laws?
No conflict with another law is documented in the sources we have reviewed so far.