Auditor's Enlistment Debate Resolved (ICAN vs Government Bodies)

The Institute of Chartered Accountants of Nepal has published a press release directing its members not to be registered separately as an Auditor in the Municipality, Rural Municipality or any other government agencies. ICAN has emphasized that it is a sole authority of the institute to grant a certificate of practice to its members and one should be able to use the audit license per limit set by the institute.

ICAN has also highlighted that it had similar issues in the past with Nepal Rastra Bank, Nepal Insurance Board, Ministry of Education and Department of Co-operatives where it was mutually agreed that not further enlistment is necessary once a person become member of the ICAN and it will be ICAN's responsibility to share to most up to date list with government agencies and regulatory authority to avoid any confusion.

Source of Image: Kantipur News

Recent press release from ICAN has been issued after two consecutive enlistment notices were issued by Gokarneshwor Municipality (https://www.alladnepal.com/posts/notice-information-to-auditor-audited-gokarneshwor-municipality) and Nagarjun Municipality (https://www.alladnepal.com/posts/request-for-quotation-auditor-nagarjun-municipality).

Surprisingly, few of the registered auditors and one Chartered Accountant firm had already registered under such enlistment announcement from the Gokarneshwor Municipality. Current, press release states measures of disciplinary action against its members not complying with the directives of the ICAN so it will be interesting to see how those registered auditors and Chartered Accountant will be dealt with.

ICAN has followed on this and have reiterated the fact that auditors get enlisted in ICAN every year with the renewal of their membership and certificate of practice. Those members/firms who have registered should automatically qualify for the audit and no need to enlist again. You can find the recent press release here:

https://www.alladnepal.com/posts/notice-auditing-the-institute-of-chartered-accountant-of-nepal

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