Institute of Chartered Accountants of Nepal

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Institute of Chartered Accountants of Nepal (ICAN)
नेपाल चार्टर्ड एकाउंटेंट्स संस्था
Emblem of ICAN
Emblem of ICAN
Motto Purity of mind and clarity of wisdom
Formation January 30, 1997; 18 years ago (1997-01-30)
Legal status Body corporate established by the Nepal Chartered Accountants Act, 1997 passed by the Parliament of Nepal
Objective Regulate the auditing and accounting profession in Nepal
Headquarters Lalitpur,    Nepal
Region served Nepal
Membership 7972 (September 2013)
Students 6000
Member's designations Chartered Accountants, Registered Auditors and Fellow Chartered Accountants
Official languages English, Nepali
President CA. Narendra Bhattarai
Vice President CA. Prakash Lamsal
Immediate Past President CA. Mahesh Kumar Guragain
Governing body Council
IFAC member since 2003
Website www.ican.org.np

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 Nepalese Parliament.[1] It accepted its first students in 1999 and a first chartered accountant was produced in December 2003. As of 2012, it has produced 150chartered accountants. The institute currently has 620 chartered accountants members including those qualified from foreign chartered accountancy insititutes such as the Institute of Chartered Accountants of India(ICAI) and from the Association of Chartered Certified Accountants(ACCA). Further, the institute also has around 7,000 registered auditor members whom were practising audits before the establishment of ICAN.

The Institute has its head office in Satdobato, Lalitpur and Branch offices at Biratnagar, Butwal, Birgunj, Pokhara and Nepalgunj.

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.

Recognition and Achievement[2][edit]

  • First Council formed on August 1, 1997
  • ICAN became Member of SAFA in 1998
  • ICAN signed MOu with ICAI in May 1998
  • ICAN became Member of CAPA in 1999
  • ICAN first CA examination held in November 2000
  • ICAN became Associate Member of IFAC in 2003
  • ICAN signed supplementary MOu with ICAI in July 2004
  • ICAN became Member of IFAC in November 2008

Constitution of Council[edit]

Council established according to Section 7 of Nepal Chartered Accountants Act, 1997 comprises following members;

Designation 6th Council 5th Council
Vice President CA. Prakash Lamsal
Past President CA. Madhu Bir Pande
Council Member CA. Achyut Raj Joshi
Council Member CA. Jitendra Kumar Mishra
Council Member CA. Bhaskar Singh Lala
Council Member CA. Nirajan Simkhada
Council Member CA. Suresh Devkota
Council Member CA. Teknath Acharya
Council Member RA. Badri Prasad Bhattarai
Council Member RA. Dol Prasad Dahal
Council Member RA. Mohan Kumar Parajuli
Council Member RA. Mohan Kumar Subedi
Council Member Mr. Gun Raj Shrestha
Council Member Mr. Krishna Prasad Devkota
Council Member Mr. Jaya Dev Shrestha

Total Members of the Institute[edit]

Member Total (September 30, 2013)[3] Total (July 15, 2012)[4]
Chartered Accountants 792 596
Registered Auditors - B 3372 3366
Registered Auditors - C 1611 1608
Registered Auditors - D 2294 2305
Total 7972 7875

References[edit]

  1. ^ [1] Overview of ICAN
  2. ^ [2] annual report 2012
  3. ^ [3] Journal September 2013
  4. ^ [4] annual report 2012

External links[edit]