Institute of Chartered Accountants of Nepal

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Template:Short description Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for unknown parameters".Template:Main other The Institute of Chartered Accountants of Nepal (ICAN) is the national professional accounting body in Nepal, responsible for regulating and promoting the accounting profession in the country. Established in 1997 under the Nepal Chartered Accountants Act, ICAN sets standards for auditing, financial reporting, and ethical conduct for accountants in Nepal[1][2][3][4]

Total members (2022/23)

Member Total[1]
Chartered Accountants 1818[5]
Registered Auditors - B 3423
Registered Auditors - C 1560
Registered Auditors - D 2251

Controversies

Tax exemption controversy

Two practising chartered accountants, Lumba Dhwaj Mahat and Umesh Prasad Dhakal, were involved in misappropriating state tax revenue through dubious tax settlements as Chairman and Member of Tax Settlement Commission involving Chudamani Sharma, Director General of Inland Revenue Department (Nepal).[6] The corruption scam was considered as one of the biggest in the Nepalese history.[7] ICAN disciplinary committee failed to take any action against the two accused CAs. Vice-Chairman Jagannath Upadhyay Niraula said that "the disciplinary committee can take action only after receiving information or the complaint is lodged against any chartered accountant. We have not received any complaint against the duo."[8] The fraud amounted to NRs. 21 billion. Both the CAs have fled from the incident and were declared fugitive by Commission for the Investigation of Abuse of Authority.[9]

Bharatpur Listing controversy

46 Nepalese audit firms, including the firm of former President of ICAN CA Prakash Jung Thapa (i.e. PJ Thapa & Company), were listed in the Bharatpur Municipality against the legal regulations of ICAN. On 18 October 2019, ICAN President Krishna Prasad Acharya has declared to punish the audit firms for conducting such illegal listing.[10][11][12]

References

Template:Reflist

External links

Template:IFAC Members

  1. ↑ a b Script error: No such module "citation/CS1".
  2. ↑ Script error: No such module "citation/CS1".
  3. ↑ Script error: No such module "citation/CS1".
  4. ↑ Script error: No such module "citation/CS1".
  5. ↑ Script error: No such module "citation/CS1".
  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ Script error: No such module "citation/CS1".
  8. ↑ Script error: No such module "citation/CS1".
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Script error: No such module "citation/CS1".
Retrieved from "http://debianws.lexgopc.com/wiki143/index.php?title=Institute_of_Chartered_Accountants_of_Nepal&oldid=2144870"