Institute of Chartered Accountants of Nepal
Encyclopedia
The Institute of Chartered Accountants of Nepal (ICAN) is the national professional accounting body
of Nepal
. It was established in 1997 in accordance with the Chartered Accountants Act 1997 of the Nepal
ese Parliament. It accepted its first students in 1999 and graduated its first class in December 2003. As of 2005, it has produced six chartered accountant
s and 7600 members mostly registered auditors including 270 Chartered Accountants from the Institute of Chartered Accountants of India(ICAI) and from the Association of Chartered Certified Accountants(ACCA). The Institute has its head office in Babarmahal, Kathmandu.
The Institute of Chartered Accountants of India
has signed a Memorandum of Understanding for providing Technical Assistance to the ICAN in designing course of material, conducting examinations etc.
The Institute has formed two standard-setting committees: the Nepal Accounting Standard Board and the Nepal Auditing Standard Board. Both set standards compatible with International Federation of Accountants
. The Institute's code of conduct is also similar to the IFAC Code of Ethics.
Professional accounting body
A professional accounting body is a organization or association of accountants in a particular jurisdiction. Usually a persons needs to be a member of such professional accounting body to hold out to the public of the jurisdiction as an accountant...
of Nepal
Nepal
Nepal , officially the Federal Democratic Republic of Nepal, is a landlocked sovereign state located in South Asia. It is located in the Himalayas and bordered to the north by the People's Republic of China, and to the south, east, and west by the Republic of India...
. It was established in 1997 in accordance with the Chartered Accountants Act 1997 of the Nepal
Nepal
Nepal , officially the Federal Democratic Republic of Nepal, is a landlocked sovereign state located in South Asia. It is located in the Himalayas and bordered to the north by the People's Republic of China, and to the south, east, and west by the Republic of India...
ese Parliament. It accepted its first students in 1999 and graduated its first class in December 2003. As of 2005, it has produced six chartered accountant
Chartered Accountant
Chartered Accountants were the first accountants to form a professional body, initially established in Britain in 1854. The Edinburgh Society of Accountants , the Glasgow Institute of Accountants and Actuaries and the Aberdeen Society of Accountants were each granted a royal charter almost from...
s and 7600 members mostly registered auditors including 270 Chartered Accountants from the Institute of Chartered Accountants of India(ICAI) and from the Association of Chartered Certified Accountants(ACCA). The Institute has its head office in Babarmahal, Kathmandu.
The Institute of Chartered Accountants of India
Institute of Chartered Accountants of India
The Institute of Chartered Accountants of India is a national professional accounting body of India. It was established on 1 July 1949 as a body corporate under the Chartered Accountants Act, 1949 enacted by the Constituent Assembly of India to regulate the profession of Chartered Accountancy in...
has signed a Memorandum of Understanding for providing Technical Assistance to the ICAN in designing course of material, conducting examinations etc.
The Institute has formed two standard-setting committees: the Nepal Accounting Standard Board and the Nepal Auditing Standard Board. Both set standards compatible with International Federation of Accountants
International Federation of Accountants
International Federation of Accountants is the global organization for the accountancy profession. IFAC has 164 member and associates in 124 countries and jurisdictions, representing more than 2.5 million accountants employed in public practice, industry and commerce, government, and academe...
. The Institute's code of conduct is also similar to the IFAC Code of Ethics.