From the President
President’s Message
Dear Professional Colleague,
I am pleased to be reaching you through the March 2026 issue of ICAN quarterly Journal. The Journal features the insightful articles of ICAN Members and other scholars, including the brief highlights on the Institute’s activities performed, national and international updates relevant to accounting professional and members’ update and notices issued by the Institute during the third quarter covering period from January to March 2026.
Esteemed members and stakeholders, as the Institute marked its 29th anniversary on 31st January 2026, the legacy of these past three decades continues to serve as our foundation, driving our commitment to professional excellence, integrity, and upholding public interest and transforming economies.
I am pleased to present a brief highlight of the activities and milestones achieved by the Institute during January to March 2026.
Expanding Reach and Credibility of Accounting Profession
During the third quarter, the Institute had a meeting with Report on the Observance of Standards and Codes (ROSC) team to discuss on various aspects of the accounting profession, audit regulation, and accounting frameworks and to support the preparation of the Nepal ROSC – Accounting & Auditing Assessment 2025.
As a continuous effort of the Institute for enhancement of regulatory and supervision mechanism, the Institute published the second amendment of Audit Quality Assurance Review Procedures, 2073. Similarly, the Institute also published Guidelines on Targeted Financial Sanctions for Reporting Entities.
Likewise, the Institute hosted a webinar with an intent to obtain consultation from Members on the content of certification course on Data Analytics and Artificial Intelligence (AI). I would also like to inform you that the first batch of the certification course on Data Analytics and AI will roll out during the last quarter of current fiscal year.
The Institute is committed to ensure the relevance and reliability of CA course offered by the Institute. In this context, the Institute successfully conducted examinations and published results of first batch of CA Foundation level under new CA syllabus held in December 2025. Also, enrollment of students in CA Application level under December 2026 has also been done. I would also like to congratulate 103 newly inducted members of ICAN who qualified in December 2025 examination. Followed by the result publication of December 2025 CA examination, the Institute organized 28th batch of General Management and Communication Skill (GMCS) Training for students qualifying in CAP III level examination and 11th batch of Pre-Articleship Orientation Program for the students who have qualified in CAP II level examination. The Institute has also issued the Articleship and Internship Procedures, 2082 for professionals those who were qualified in Chartered Accountancy Examination from foreign Professional Accounting Organizations.
During this quarter, the Institute also published list of the CA Scholarship for Fiscal Year 2025/26 whereby, the Institute decided to award full/partial scholarship to 184 students of CA Foundation/ CAP I, CAP II and CAP III which amounts to total NPR 41,95,750/-. Moreover, I would like to inform you that the Institute signed an agreement with the Lions Club of Kathmandu to provide scholarships to CA students who are academically deserving yet financially constrained one student of Foundation Level each year. Similarly, the Institute has also entered into a Bursary Agreement with the ICAEW Foundation and will be entitled to receive a total funding of £36,300 over a period of four years.
Moreover, the Institute also organized ICAN Quiz and Public Speaking Contest 2026 for CAP III level students and the winners of the context shall be nominated for SAFA level Quiz and Public Speaking Contest.
Engaging Members and Collaboration with Stakeholders
The Institute with an intent to promote members’ global recognition and creation of new avenues of practice has been exploring the outsourcing potential of members in International forum. In this context, the Institute has rolled out the Global Accounting Initiative in Nepal (GAIN) project. The Institute conducted a press conference on GAIN project and launched the Accounting Outsourcing Web Portal and promotional video on GAIN. Likewise, the Institute held a one day conference on Global Accounting and Finance Outsourcing on 31st January 2026 in Kathmandu in presence of eminent delegation from the outsourcing industry and Government Officials to provide comprehensive insights into global trends in accounting and finance outsourcing, regional and international experiences, emerging opportunities and challenges, and Nepal’s growing potential in the areas of Accounting and Finance Outsourcing.
On March 2026, the Institute organized its 1st Campus Placement Program as an initiative to support newly qualified Chartered Accountant members in beginning their professional careers, while providing employers with access to competent, ethical, and technically skilled finance professionals. Altogether, 92 members registered for participation in campus placement and 18 companies were registered as employers for the program.
The Institute has been conducting various physical and virtual trainings, members’ capacity development program, post qualification course and Continuing Professional Education (CPE) program to strengthen members’ capabilities.
In addition, the Institute also organized Welcome Program for newly inducted members. Likewise, the Institute also arranged 8th Chartered Accountants’ convocation ceremony whereby 118 newly qualified CA members from ICAN were convocated in the ceremony.
Expanding Role as Government’s Partner for Economic Prosperity and Elevating Global Standing
I would also like to share with you that, under the National Public Financial Reform Strategy -III (2025-2030), the Institute has been designated as one of the implementing agencies for Pillar 2: Budget Execution and Reporting. The Institute is jointly responsible for implementing vital reform activities including strengthening internal controls and auditing as per international standards, compliance with Nepal Public Sector Accounting Standards (NPSAS), consolidation of financial results of extra budgetary units, disclosure of assets and liabilities, preparation of budget execution reports, revising of Chart of Accounts and conducting PFM information system certification. ICAN shall maintain close coordination with the PEFA secretariat and other implementing agencies in attainment of expected result and target of PEFA reform strategy.
In the verge of issuance of Climate Finance Operational Procedure, 2082 followed by the issuance of Carbon Trading Regulation, 2082 and amendment to Environmental Protection Regulation, 2077. And, undergoing process for issuance of Sustainability Disclosure Standards (General Requirements for Disclosure of Sustainability-related Financial Information and Climate Related Disclosure), ICAN is working to enhance the technical expertise and capacity of members to help them navigate the evolving economic landscape, focusing on non-financial reporting and climate risk management within both the public and private sectors.
I am happy to inform you that the Institute has obtained Membership of Chartered Accountants Worldwide (CAW) as its 16th Member Institute. I am hopeful that ICAN will be able to strengthen collaboration and unity within the chartered accountancy profession across borders as a part of this global network. Likewise, during the period, I along with Vice-President and fellow Council member participated in various SAFA Board/Committee meeting and SAFA events physically or virtually.
Ensuring Operational Resilience and Sustainability
The Institute celebrated its 29th anniversary on 31st January 2026 by organizing an ICAN Day program in the gracious presence of Finance Minister, Mr. Rameshwor Khanal as Chief Guest of the program along with Hon’ble Auditor General, Mr. Toyam Raya and Financial Comptroller General, Mr. Shobha Kanta Poudel as the Special Guest of the program. The Institute also published its Annual Report of FY 2024/25 in the program.
Conclusion
With the formation of new Government followed by the Gen-Z protest, there is a profound demand and expectation for accountability and systemic change in Governance and System amongst the Nepalese People across the country. The Institute as an autonomous body of Government is committed to partnering with Government in achieving sustainable economic development and governance through administrative efficiency, anti-corruption measures, and digitization.
May I finally take this opportunity to wish each and every one of you a very all happy new year- 2083 (BS)
"The best way to predict the future is to create it." — Peter Drucker / Alan Kay
Best Wishes,
…………………………….
CA Nil Bahadur Saru Magar,
President