News and Update

STRATEGIC REVIEW

Expanding Reach and Credibility of Accounting Profession

Meeting with ‘Reports on the Observance of Standards and Codes (ROSC) Assessment Team’

The Institute held a meeting with ROSC assessment team in ICAN Head Office Premise on 7^th May 2026. The meeting was attended by the President, Vice-president, Council Members, ICAN Officials on behalf on ICAN whereby, the assessment team was led by representative of World Bank and comprised of representative from Asian Development Bank and their Technical Consultants. In the meeting, the assessment team shared the status of their assessment and obtained preliminary feedback from ICAN on their prospective subject matter of the ROSC Report.

Second Amendment to the Guidelines on Marketing Professional Services by Professional Accountants in Public Practice 2023

The Institute has issued Second Amendment to the Guidelines on Marketing Professional Services by Professional Accountants in Public Practice 2023. The Guidelines can be viewed from the link below:

https://en.ican.org.np/_browsable/file/resouces/Guidelines_on_Marketing_Professional_Services_second_amendment.pdf

Participation in Accountex London 2026

Delegation from ICAN led by CA Nil Bahadur Saru Magar, President including CA Ananda Raj Sharma Wagle, Vice President; RA Bharat Kumar Shrestha, Council Member; and CA Bimal Dangol, Executive Director, participated in Accountex London held at ExCel, London on13^th and 14^th May 2026. During the exhibition, the delegation promoted Nepal as an emerging global destination for accounting and financial outsourcing l services.

Glimpse of ICAN Delegation’s participation in Accountex London, 2026

Besides participating in the exhibition, the delegation also had following strategic meetings during their visit to London:

Meeting with executive body and members of the Nepalese Accountants Association United Kingdom (NAA UK) to discuss about cross-border outsourcing mechanics.

Meeting with Ms. Clare Lindridge, Director of Policy and Insights at the Association of Chartered Certified Accountants (ACCA), to discuss on matters of mutual interest including mutual pathway agreements, collaboration in continuous professional development, and strategies to accelerate accounting outsourcing in Nepal.

Meeting with Mr. Alan Vallance, CEO of the Institute of Chartered Accountants in England and Wales (ICAEW), to discuss on renewal of mutual recognition agreements and prospects of collaboration for the development of accounting education and profession.

Participation in "UK-Nepal Collaboration: Prospects of Investments and Accounting Outsourcing" Conference

Delegation from the Institute participated in “UK-Nepal Collaboration: Prospects of Investments and Accounting Outsourcing" hosted by the Embassy of Nepal in the UK on 15^th May 2026. The conference was addressed by corporate leaders, regulators and accounting professionals residing in the UK. Addressing the Conference, President, CA Nil Bahadur Saru Magar highlighted the strength, capability, and global competitiveness of Nepal’s accounting professionals while fostering international collaboration and investment opportunities. Similarly, Vice-President, CA Ananda Raj Sharma Wagle, delivered a presentation detailing the fiscal benefits, time-zone arbitrage, and structural viability of offshoring to Nepal and shared insights on ICAN’s initiative during a panel discussion session in the Conference.

Glimpse of UK-Nepal Collaboration: Prospects of Investments and Accounting Outsourcing

CFO Conference 2026

The Institute organized the First CFO Conference 2026 under the theme "Leading Beyond Finance, Shaping the Future", in Kathmandu on 30^th June 2026. The conference brought together Chief Financial Officers (CFOs), finance leaders, regulators, policymakers, Chartered Accountants, and industry experts to discuss the evolving role of finance leadership in Nepal's economic development.

Glimpse of CFO Conference 2026

The Conference started with welcome remarks of CA Sunil Devkota, Council Member and Chairman of Members in Industry Committee followed by opening remarks of CA Nil Bahadur Saru Magar, President, ICAN. CA Ratna Raj Bajracharya, Past President, ICAN, former CEO of different Commercial Banks delivered a Keynote speech on “Envisioning the Future Chief Finance Officer: For Driving Nepal’s Economy”. Likewise, CA Manoj Gyawali, CEO, Nabil Bank Ltd. shared insights on “The Evolving CFO Mindset: From Operation to Strategist”. The conference had in total two technical sessions. The technical session “Next Gen CFO: Navigating Change” was facilitated by CA Abhishek Saraf, Vice President – Finance & Information Technology, Surya Nepal Pvt. Ltd. Likewise, the second session on “Everything needs Finance” was facilitated by CA Suraj Lamichhane, Financial Controller, Ncell Axiata Ltd. ; Md. Yasir Arafin, CFO, Standard Chartered Bank Ltd. ; CA Suraj Rajbahak ,CFO and Company Secretary, Shikhar Insurance Co. Ltd and CA Vipin Vihari Pangeni, General Manager, CG Corp Global. Altogether, 150 participants attended the Program.

Monitoring Visit of Firm

The Institute conducted monitoring visits of firms located in Pokhara & Syangja areas 15^th to 17^th April 2026 in accordance with Monitoring Bylaws, 2082.

Interaction Program on Minimum Requirements for Performing Audits

The Institute organized an interaction program on “Minimum Requirements for Performing Audits” on 22^nd June 2026 at ICAN premises located at Satdobato, Lalitpur. The objective of the program was to create awareness among auditors regarding audit quality and the minimum requirements to be observed while conducting audit assignments. The program started with welcome note by CA Barsha Panthi, Senior Officer, ICAN followed by opening remarks from CA Bimal Dangol, Executive Director, ICAN.

In the program, CA Kiran Kumar Khatri, Director, delivered a presentation on the “Minimum Requirements for Performing Audits,” covering the key compliance areas expected of auditors and requirement of NSQM 1 and NSQM 2. Addressing the program, CA Prabin Kumar Jha, Council Member and Coordinator of the Monitoring Committee highlighted on Nepal’s current standing in relation to the international grey list scenario, World Bank’s assessment of audit quality in Nepal, liability of auditors and the broader impact of an audit report and the need to maintain audit quality irrespective of the size or status of the client. Likewise, RA Jhalak Mani Lamsal, Council Member, also addressed the program and urged the members to maintain audit quality. The program had a open floor discussion led by CA Nil Bahadur Saru Magar, President, ICAN. CA Ananda Raj Sharma Wagle, Vice President, ICAN concluded the program with his closing remarks and vote of thanks.

Cordial Meeting with Delegation from Pokhara University

The Institute held a cordial meeting with Dr. Gyaneshwar Sharma, Dean, and Dr. Rabindra Ghimire, Curriculum Director, of Pokhara University (PU) on 13^th April 2026 at ICAN premises. The meeting was held with an intent to review the status of implementation of MoU between ICAN and PU, explore future opportunities of collaboration including curriculum development, career mapping, and knowledge sharing. The meeting was also attended by the President, Vice President, and senior officials of ICAN, reaffirming a shared commitment to strengthening academic partnerships and enhancing professional education.

Webinar on “CA Exam is Easy”

The Institute hosted a webinar on “CA Exam is Easy” on 25^th April 2026 targeting all the students of ICAN. The webinar started with opening remarks on the significance of the program by Director of the Institute, Mr. Binod Prasad Neupane. A one and half hour session on "CA Exam is Easy” was conducted by CA Gaurab Khatiwada, Assistant Director of the Institute. The session was focused on guiding students to attend theoretical, numerical and MCQs, exam preparation strategy, examination time management, how to attend 3 marks, 5 marks, 10 marks questions, and many other important aspects of examination. CA Gaurab Khatiwada responded to the queries of students raised during the session. The program was concluded with the closing remarks of the Technical Director of the Institute, CA Kiran Kumar Khatri who expressed his gratitude to the resource person and all the students for their active participation.

Launch of ICAN Mentorship Program

The ICAN Mentorship Program has been successfully launched. The Mentor Interaction Program was held on 1^st May 2026, followed by the Mentee Orientation on 3^rd May 2026. For the first quarter, a total of 60 sessions has been planned, involving 15 female Chartered Accountant mentors with a minimum of 7 years of experience and 20 female mentees who are CAP III level students.

Result of CA Membership Examination

The result of the CA Membership examination which was held on 21^st and 22^nd March was published on 8^th May 2026. Out of 275 candidates who applied for the CA membership examination, only 202 appeared in the exam, and 45 of them qualified.

Retotaling result of CA Membership Examination, March 2026

The re-totaling result of CA Membership Examination, March 2026 has been published on 23^rd June 2026.

Result of Accounting Technician Examination

The result of the Accounting Technician examination which was held from 21^st to 24^th March was published on 8^th May 2026. Out of 2 candidates who applied and appeared in the exam, 1 candidate qualified in the exam.

Chartered Accountancy Examination and CA Membership Examination for ACCA of June 2026

The Institute has conducted the Chartered Accountancy Examination and CA Membership Examination for ACCA of June 2026 batch from 1^st to 15^th June 2026 inside Kathmandu Valley and in Butwal, Biratnagar, Birgunj, Pokhara, Chitwan, Nepalgunj and Dhangadhi.

Altogether, 6,229 students appeared in CA examinations out of 6,818 students applied for CA examinations in different levels. The details about applicants and the students appeared are as depicted below:

Level	Foundation	CAP I	CAP II			CAP III
Level	Total	Total	Group I	Group II	Both	Group I	Group II	Both
Applicants	885	269	862	604	2044	1005	374	775
Appeared	857	224	752	474	1913	926	323	760

Likewise, 4 applicants applied and 3 applicants appeared for CA membership Examination for ACCA’s.

Registered Auditor (RA) Upgrading Examination, June 2026

The Institute conducted RA upgrading Examination of June 2026 from 1^st to 4^th June 2026. The exam was conducted in Kathmandu and Pokhara. The status of applicants and appeared candidates are as follows:

	Class “C” to “B”	Class “D” to “C”
Applicants	3	0
Appeared	2	0

Career Counselling

The Institute with the objective to inform the students about Chartered Accountancy education, syllabus, fees, scholarship scheme, and to address students’ queries and other relevant information for pursuing CA course in Nepal, conducted career counselling program in two different college in Surkhet and at Mid-Western University. The counselling session was facilitated by CA Chhabi Lal Acharya.

Engaging Members and Collaboration with Stakeholders

5^th National Convention of Accounting Professionals

The Institute hosted the 5^th National Convention of Accounting Professionals on theme “Strengthening Trust and Economic Governance: Catalyzing Nepal’s Economic Transformation” on 29^th and 30^th April 2026 in Kathmandu. CA Nil Bahadur Saru Magar, President-ICAN was the Chairperson of the session. The Convention was inaugurated by Hon’ble Auditor General, Mr. Toyam Raya as a Chief Guest whereby, Dr. Khagaraj Sharma, Chairman of National Cooperative Regulatory Authority (NCRA); CA Anup Nepal, President of Association of Chartered Accountants of Nepal (ACAN) and RA Badri Prasad Bhattarai, President of Auditors’ Association of Nepal (AUDAN) were the Guest in the inauguration session. The Convention was attended by around 820 members and stakeholders.

Glimpse of Inaugural Session of the 5^th National Convention

The Convention had total 6 technical sessions and one motivational speech session as below:

1^st Session: Current Economic Outlook and Potential Paradigm Shift

2^nd Session: Strengthening Institutional Trust for Sustainable Economic Transformation

3^rd Session: From Innovation to Impact: Digital Pathways to Economic Transformation

4^th Session: ESG in Nepal: Risks, Readiness, and the Role of Professionals

5^th Session: Professional Practice Development Issues and Way Forward

6^th Session: Nepal as a Global Accounting Outsourcing Hub

7^th Session: Motivational Speech on 'Driving Change: Leadership Lessons from Nepal’s Business Frontlines

National Best Presented Annual Report Award (NBPA) 2025

The Institute conducted 23^rd National Best Presented Annual Report Award 2025 distribution ceremony on Tuesday, 30^th June 2026 at Hotel Yak and Yeti, Kathmandu. The Annual Report of Companies participating in National BPA Award were evaluated based on SAFA BPA Evaluation Guidelines under the oversight of BPA Evaluation Sub-Committee formed under the Chairmanship of Vice-President, ICAN and comprising of representatives from various regulatory bodies. In NBPA 2025 altogether, 31 companies received awards under 10 categories.

Glimpse of National Best Presented Annual Report (NBPA 2025) Award Distribution Ceremony

Pre-Budget Interaction Program on Upcoming Federal Budget of FY 2083/84 and Finance Bill 2083

The Institute, with an intent to provide policy recommendation to Government for consideration in upcoming federal budget of FY 2083/84 organized series of Pre-Budget interaction program across the nation to gather insights from its Members, Industry specialist and other stakeholders on matter of fiscal policy. The program was organized in coordination with the Fiscal Taxation Committee (FTC) and Branch Coordination Committee (BCC). The details of the program have been outlined below:

Inside Kathmandu Valley

The interaction program in Kathmandu was organized on three different themes with an objective to obtain comprehensive suggestions of specific stakeholders as below:

Date	Theme	No. of Participants
17^th April 2026	Financial Sector and Investment Ecosystem	29
18^th April 2026	Accounting Profession and Practice Issues	28
19^th April 2026	Production and Infrastructure Sector	67

The above program was organized in the premises of ICAN located at Satdobato Lalitpur and the same was broadcasted live on social media platform of ICAN. The recorded video can also be accessed from the link below:

Day 1: https://www.youtube.com/live/D3SGOvPsc_8?si=N1moFq08pAYzXE_p

Day 2: https://www.youtube.com/live/LGfe6MsyhKg?si=h5qsKLR0WDQD4r3f

Day 3: https://www.youtube.com/live/yvGQH29KTOY?si=rm47wVtAsna10AYb

Outside Kathmandu Valley

The interaction program outside Kathmandu valley was organized on three different themes with relevant stakeholders as below:

Date	Place	Theme	No. of Participants
7^th April 2026	Nepalgunj	Budget Priorities for Manufacturing Industry	22
9^th April 2026	Pokhara	Budget Priorities for Tourism, SMEs and Entrepreneurship	46
9^th April 2026	Chitwan	Commercial Agriculture, Agro-based Industries and Agriculture Value Chain	50
10^th April 2026	Birgunj	Production & Export Oriented Industries, Cross Border Trade and Education Sector Related Issues	32
10^th April 2026	Dhanghadi	Budget Priorities for Tourism, SMEs & Start-up and Policy on Forest Based Industries	40
10^th April 2026	Butwal	Strengthening Economy through Taxation and Policy Reforms in key Production and Service Sector	49
10^th April 2026	Biratnagar	Production-oriented industrial development and export promotion, Commercial agriculture and agribusiness, Agricultural value chain and supply system	33

Interaction Program on Economic Analysis, Annotation and Dissemination of the Federal Budget FY 2083/84

The Institute organized an interaction program on Economic Analysis, Annotation and Dissemination of Federal Budget FY 2083/84 on 4^th June 2026 at Hotel Royal Tulip, Lalitpur. The program highlighted the rationality of Federal Budget for F/Y 2083/84 and its likely impact on various spheres of the economy.

Glimpse of interaction program on Economic Analysis, Annotation and Dissemination of Federal Budget FY 2083/84

The program started with the opening remarks of CA Ananda Raj Sharma Wagle, Vice-President, ICAN whereby he briefed about ICAN’s Recommendation on Fiscal and Tax Policy and their addressal by Finance Bill 2083. The program has a technical session on “Economic Analysis, Annotation, and Dissemination of the Budget for FY 2083/84”. The session was Chaired by CA Thakur Prasad Adhikari, Council Member, ICAN. Dr. (CA) Biswash Gauchan, Executive Chair, IIDS delivered a paper presentation, and the session had a panel discussion. Mr. Padam Kumar Shrestha, Deputy Director General, Inland Revenue Department (IRD); CA Sudarshan Raj Pandey, Past-President, ICAN and Mr. Anjan Shrestha, President, Federation of Nepalese Chambers of Commerce and Industries (FNCCI) were the panelist in the session. After the technical session, CA Umesh Raj Pandeya, Council Member delivered a paper presentation on “Changes in Tax Laws by Finance Bill 2083”. The program concluded with closing remarks of CA Bimal Dangol, Executive Director, ICAN. Altogether, 170 members participated in the program.

Post Budget Interaction Program

The Butwal branch of the Institute organized a post budget interaction program on 16^th June 2026. Program was chaired by Butwal BCC Coordinator CA Mukul Raj Panthi and the technical session in the program was facilitated by CA Umesh Raj Pandeya, Council Member. The program was attended by total 50 participants.

New Members Welcome Program

The Institute organized new members welcome program on 24^th June 2026 at ICAN premises located at Satdobato, Lalitpur. The objective of the program was to welcome new members into the CA fraternity of ICAN and facilitated networking amongst the members.

Glimpse of New Member Welcome Program at ICAN

The program started with the welcome speech of CA Nil Bahadur Saru Magar, President, ICAN followed by a training session on “Mindfulness, Motivational Intelligence and Overall Well-being” facilitated by Ms. Pratishtha Karki Khadka, Psychotherapist. The program was also addressed by CA Ananda Raj Sharma Wagle, Vice-President, ICAN whereby he shared his insights about the activities of the Institute and profession. The program was attended by 54 new members. The program concluded with the closing remarks of CA Bimal Dangol, Executive Director.

Certification Course on Data Analytics and Artificial Intelligence

The Institute conducted 1^st batch of certification courses on Data Analytics and Artificial Intelligence from 25^th May to 6^th June 2026 at ICAN premises located at Satdobato, Lalitpur. The 75 hours course covered the full spectrum of data analytics from descriptive to prescriptive alongside technical proficiency in Python (NumPy, Pandas), data cleaning, and visualization. The certification course was attended by total 30 members of ICAN. The exam of certification course was held on 5^th and 6^th June 2026 including project assessment. The Institute has also published results of examination on 26^th June 2026.

Member’s Capacity Development Program

The Institute conducted two days training on Construction Contract, Biological Assets and Major Changes in Income Tax and VAT on 13^th and 14^th June 2026 in Itahari. The training was facilitated by CA Arun Raut and altogether, 62 members attended the training.

Online Training on Quality Management Related Auditing Standards and Scenario Based Audit Report

The Institute conducted 3 days online training on Quality Management Related Auditing Standards and Scenario Based Audit Report from 1^st to 3^rd April 2026. The objective of this training was to assist the audit firms align their internal policies with NSQM 1, NSQM 2 and NSA 220 (Revised). The training was facilitated by CA Sanjeev Dhakal and around 276 participants were registered for the training.

Training in Construction Contracts

The Institute conducted one day training on Construction Contracts on 9^th April 2026 at ICAN Premises, located at Satdobato, Lalitpur. The objective of the training was to enhance participants’ practical understanding of construction contract management, accounting, and taxation aspects in the Nepalese context. The training was organized in initiation from RA Member Capacity Development Committee and was attended by 95 members and was facilitated by CA Arun Raut.

Continuing Professional Education (CPE) Training

The Institute with the objective of enhancing the capacity of Members of the Institute in various contemporary issues has organized four days online CPE from 26^th to 30^th May 2026. The CPE covered topics related with NPSAS-based Standardized Financial Statement Format and Audit Manual for the audit of Government and Community Schools, NFRS and Sustainability Disclosure Standards. The online CPE training was attended by over 500 members. The training was facilitated by CA Sanjeev Dhakal, CA Bidur Luitel and CA Bikesh Madhikarmi.

Moreover, a physical CPE program was also conducted in Butwal from 21^st to 23^rd May 2026 which was attended by 51 members.

Webinar on AML CFT Compliance Refresher organized

A webinar on ‘AML CFT Compliance Refresher for Practicing Members’ was organized on 11^th May 2026 to update Practicing Members on their compliance requirements with AML CFT laws and regulations, with special focus on current AML CFT trends and typologies, AML CFT compliance requirements expects of Professional Accountants, Suspicious Transaction Reporting (STR) reporting by Auditors, do’s and don’ts in this regard, and submission of AML CFT related information to ICAN through AML CFT Portal. CA Kiran Kumar Khatri, Director, ICAN delivered the session in the webinar which was attended by more than 230 participants. The webinar also offered 3 CPE credit hours to participating Members subject to payment of CPE processing fees.

Expanding Role as Government’s Partner for Economic Prosperity and Elevating Global

Courtesy Meeting in Ministry of Land Management, Cooperatives and Poverty Alleviation

Delegation from the Institute led by CA Nil Bahadur Saru Magar, President-ICAN accompanied by CA Ananda Raj Sharma Wagle, Vice-President ICAN and other Senior Officials from ICAN had a Courtesy meeting with Hon’ble Minister, Ms. Pratibha Rawal and Government Officials at the premises of Ministry of Land Management, Cooperatives and Poverty Alleviation on 22^nd April 2026. The meeting was focused to identify areas of collaboration between the Ministry and ICAN for addressing the current challenges in Nepal’s cooperative sector especially regarding problematic cooperative institutions. In the meeting, Hon’ble Minister, Ms. Pratibha Rawal urged Institute and its members to extend necessary support to the Ministry, National Cooperative Regulatory Authority and Problematic Cooperative Management Committee in resolving the current issues of the cooperative sector.

Glimpse of Courtesy Meeting at the Ministry of Land Management, Cooperatives and Poverty Alleviation

Meeting with National Cooperative Regulatory Authority

The Institute held a meeting with officials of National Cooperative Regulatory Authority on 23^rd April 2026. The meeting was focused on initiating prudential audits from beginning of new fiscal year 2026/27. The Institute is undergoing process for issuance of guidelines to engage ICAN Members in supervision and strengthening the cooperative sector.

Meeting with Delegation from World Bank Group, Nepal

The delegation from the Institute led by CA Nil Bahadur Saru Magar had a meeting with the team of World Bank Group, Nepal comprising Ms. Marcela Rozo (Senior Public Sector Specialist) and World Bank experts on 24^th April 2026 at the premises of World Bank Group Nepal in Kathmandu. The meeting was held in context of Nepal Public Finance Review (PFR), and the discussion was focused on defining concrete tax reform measures to drive private sector-led growth and job creation in Nepal.

Glimpse of Meeting with World Bank Group Nepal

Virtual Meeting of ICAN with Proposed representatives of ICAN Canada and UAE Chapter

The Institute had a virtual meeting with proposed representatives of ICAN chapter in Canada and UAE on 3^rd May 2026. The meeting was attended by the President, Vice-president, Executive Director and other officials on behalf of ICAN. The meeting was focused on way forwards for the establishment of ICAN chapters in Canada and UAE for mutual benefit of ICAN and its Members in those countries through sharing of knowledge, expertise, collaboration for initiatives like GAIN and professional development of Members.

Participation in SAFA Board and Committee Meetings

CA Prabin Kumar Jha, Vice President, SAFA virtually attended the SAFA Board and Committee Meetings held in Lahore, Pakistan on 8^th and 9^th May 2026.

Meeting with Mr. Ravi Abeywardana, Director of Sustainability Reporting and Assurance at ICAEW

A meeting was held with Mr. Ravi Abeywardana, Director of Sustainability Reporting and Assurance at ICAEW at ICAN Head Office Premise on 9^th June 2026 at 3:00 PM. The meeting was attended by the President, Vice-President, Council Members, ICAN Officials and CA Suman Kumar Bohara, IFC Consultant. The meeting was focused on sharing of the global landscape on sustainability reporting, assurance, and ethics, overview of ICAEW and ICAN’s activities for aspiring and existing members in relation to sustainability reporting, assurance, and ethics and discussion of potential areas to strengthen the partnership.

ICAN’s Officials Participation in Various Forum

During the month of June, ICAN’s officials represented the Institute in following forum:

CA Nilesh K.C., Joint Director participated in Workshop on National Risk Assessment related to AML/CFT organized by Ministry of Finance from 2^nd to 5^th June 2026.

CA Asmita Dhakal, Joint Director and CA Rakshya Kharel, Assistant Director participated in Training of Trainers (ToT) Program organized by Accounting Standards Board on 11^th June 2026.

CA Amrita Thapa, Assistant Director; CA Gaurab Khatiwoda, Assistant Director and CA Barsha Panthi, Senior Officer participated in public consultation and information sharing session on draft Nepal Sustainability Disclosure Standards – NFRS S1 and NFRS S2 held on 10^th June 2026 organized by Accounting Standards Board, Nepal.

CA Yangchen Lama, Senior Officer participated in a training and interaction program on the provisions, implementation, bank account operation, accounting system, and NPSAS-based financial reporting system under the Procedure on Bank Accounting System and Financial Reporting Management of Extrabudgetary Entities, 2082 on 10^th June 2026.

Ensuring Operational Resilience and Sustainability

Staff Training

The Institute organized training to its staffs on topic “Artificial Intelligence and Prompt Engineering for Accounting and Finance Professionals” on 19^th June 2026 at ICAN Premises and was attended by 70 staffs. Likewise, a training on “Mental Health Informed Team Building” was conducted on 20^th June 2026 at Godavari Village Resort and was attained by 53 staffs.

Outstanding Employee Award and Best Employee of the Year Award 2081/82

The Institute honored one employee with an Outstanding Employee Award and three employees with Best Employee of the Year Award based on their performance evaluations during Fiscal Year 2081/82. The Award Distribution Ceremony was held coinciding with the 5^th National Convention of Accounting Professionals. In earlier years, the award distribution used to be held during ICAN Day Celebration however, the award for FY 2081/82 could not be held on 31^st January 2026 due to the Election Commission’s code of conduct amid the Election of the House of Representatives.

Recipients of the Outstanding Employee Award and Best Employee Award for FY 2081/82

S.No.	Name of Staff	Position	Award Received
1	Krishan Ram Poudel	Officer	Outstanding Employee Award
2	Rabindra Kumar Chand	Senior Assistant	Best Employee
3	Shiva Hari Nepal	Assistant	Best Employee
4	Ganga Chaudhary Mukhiya	Assistant	Best Employee

ICAN NOTICE AND UPDATES

Notice Regarding CPE Credit Hour Requirements for Renewal of Membership and Certificate of Practice (COP)

The Institute has published notice regarding renewal of Membership and Certificate of Practice (COP) with CPE Credit Hour Requirements. The notice can be viewed from the link below:

https://en.ican.org.np/_uploads/_downloads/_files/3/88973bf8bd66f06cf45e057c712eb9a2.pdf

Vacancy Notice 2082/83

The Institute has published vacancies for various positions. The notice can be viewed from the link below:

https://en.ican.org.np/_uploads/_downloads/_files/3/f1d54ac1bf8b8288f0cb89cf455872a7.pdf

Notice on ICAN Mentorship Portal

The Institute has published notice about launch of ICAN Mentorship Portal, a dedicated platform designed to connect mentors and mentees. Mentorship Portal can be accessed from the link below:

https://mentorship.ican.org.np/login

The notice can be viewed from the link below:

https://en.ican.org.np/_uploads/_downloads/_files/3/1b67adfb8512e513c118c886305866c8.pdf

Notice Regarding Applicability of Fee for Follow-Up Quality Assurance Review visit

The Institute has issued notice regarding applicability of fee for follow-up quality assurance review visit. The notice can be viewed from the link below:

https://en.ican.org.np/_uploads/_downloads/_files/3/e42fa7097c11d41403b442638f7c4d04.pdf

Notice Regarding Action taken Against Unfair Means, CA Examination June 2026

The Institute has published notice regarding action taken against unfair means by students appearing in CA Examination June 2026. The notice can be viewed from the link below:

https://en.ican.org.np/_uploads/_downloads/_files/3/b1f93fed15dc4c9cbb637f4f344bf860.pdf

NATIONAL STATUTORY UPDATES

Amendment in Unified Directives, 2082 issued to A, B and C Class Banks and Financial Institutions

The Nepal Rastra Bank has issued circular regarding amendment in Unified Directives, 2082 issued to A, B and C Class Banks and Financial Institutions. The Circular can be viewed from the link below:

https://www.nrb.org.np/contents/uploads/2026/04/Circular-13_merged-1.pdf

https://www.nrb.org.np/contents/uploads/2026/05/Circular-14-F.pdf

https://www.nrb.org.np/contents/uploads/2026/06/Circular_17_ABC_upload.pdf

https://www.nrb.org.np/contents/uploads/2026/06/Circular_16_ABC_upload.pdf

https://www.nrb.org.np/contents/uploads/2026/06/Circular-15-ABC-F.pdf

Amendment in Unified Directives, 2082 issued to Infrastructure Development Banks

The Nepal Rastra Bank has issued circular regarding amendment in Unified Directives, 2082 issued to Infrastructure Development Banks. The Circular can be viewed from the link below:

https://www.nrb.org.np/contents/uploads/2026/06/Circular-5-NIFRA-F.pdf

https://www.nrb.org.np/contents/uploads/2026/06/Circular_6NIFRA_Final_upload.pdf

Amendment in Unified Directives, 2082 issued to D Class Micro-Finance Financial Institutions

The Nepal Rastra Bank has issued circular regarding amendment in Unified Directives, 2082 issued to D Class Micro-Finance Financial Institutions. The Circular can be viewed from the link below:

https://www.nrb.org.np/contents/uploads/2026/06/Circular_9_D_Upload.pdf

https://www.nrb.org.np/contents/uploads/2026/06/Circular_8D_final_Upload.pdf

https://www.nrb.org.np/contents/uploads/2026/06/Circular-7-F.pdf

Guidelines on Salaries, Allowances and Other Benefits of Chief Executive Officers of Banks and Financial Institutions, 2083

The Nepal Rastra Bank has issued Guidelines on salaries, allowances and other benefits of Chief Executive Officers of Banks and Financial Institutions, 2083. The Guidelines can be viewed from the link below:

https://www.nrb.org.np/contents/uploads/2026/06/CEO-salary-guideline.pdf

Third Quarter Review of Monetary Policy 2082/83

The Nepal Rastra Bank has published third quarter review of Monetary Policy 2082/83. The quarterly review can be viewed from the link below:

https://www.nrb.org.np/contents/uploads/2026/05/Monetary-Policy-3rd-Qtr-Review-2082-83.pdf

Half Yearly Study Report of Economic Activity in Bagmati Province (Fiscal Year 2082/83)

The Nepal Rastra Bank has published half yearly report on economic activity of Bagmati Province during FY 2082/83. The report can be viewed from the link below:

https://www.nrb.org.np/contents/uploads/2026/05/Half-yearly-Bagmati-EAR-2082-83-3.pdf

Requesting Suggestions for Policies and Programs Related to the Securities Market for FY 2083/84

The Securities Board of Nepal (SEBON) has issued notice to stakeholders requesting Suggestions for Policies and Programs Related to the Securities Market for FY 2083/84. The suggestions shall be provided by 29th May 2026 by sending an email at: research@sebon.gov.np . The notice can be viewed from the link below:

https://sebon.gov.np/uploads/2026/04/29/h2iBVyGgvQilTkOlM0VlRjXFtOD8muzGIuUn4kU9.pdf

Approval for Perpetual Non-Cumulative Preference Share

The Securities Board of Nepal (SEBON) has issued notice regarding approval of issuance of Perpetual Non-Cumulative Preference Share. The notice can be viewed from the link below:

https://sebon.gov.np/news/%E0%A4%85%E0%A4%B5

Securities Businessmen (Securities Brokers and Securities Dealers) (Sixth Amendment) Regulations, 2082

The Securities Board of Nepal (SEBON) has issued Sixth Amendment of Securities Businessmen (Securities Brokers and Securities Dealers) Regulations, 2082. The regulation can be viewed from the link below:

https://www.sebon.gov.np/uploads/2025/07/16/mUlJZmJ1DOoCaKaiOWMCRDobXctf7JL6COG24hgq.pdf

Guidelines for Review of Financial Statements Submitted for Initial Public Offering, 2082

The Securities Board of Nepal (SEBON) has issued Standard Guidelines for review of Financial Statement submitted by companies for initiating Initial Public Offering, 2082. The Guidelines can be viewed from the link below:

https://sebon.gov.np/uploads/2026/04/08/wCV4yCeIDBjurrt5ftewEngb5P9Z0qtLl0iXi9YT.pdf

Insurer’s Fixed Asset Purchase and Sales Directive, 2082

The Nepal Insurance Authority has Insurer’s Fixed Asset Purchase and Sales Directive, 2082. The Directive can be viewed from the link below:

https://nia.gov.np/Admin/images/Law/Directive/69e9bcae187a5_1776925870.pdf

Insurance Surveyor Directive, 2083

The Nepal Insurance Authority has Insurance Surveyor Directive, 2083. The Directive can be viewed from the link below:

https://nia.gov.np/Admin/images/Law/Directive/69f2d8eb93aa4_1777522923.pdf

Insurance Agent Directive, 2083

The Nepal Insurance Authority has Insurance Agent Directive, 2083. The Directive can be viewed from the link below:

https://nia.gov.np/Admin/images/Law/Directive/69f2d930ed7f1_1777522992.pdf

Circular related to Professional Indemnity and Professional Liability Insurance

The Nepal Insurance Authority has issued circular related to professional indemnity and professional liability insurance. The Circular can be viewed from the link below:

https://nia.gov.np/Admin/images/Law/Circular/69f981ef531a8_1777959407.pdf

Circular related to Third Party Insurance of Vehicle Registered in Foreign Countries

The Nepal Insurance Authority has issued circular related to third party Insurance of vehicle registered in foreign countries. The Circular can be viewed from the link below:

https://nia.gov.np/Admin/images/Law/Circular/69f98197095c2_1777959319.pdf\

Issuance of Index Based Index Directory, 2082

The Nepal Insurance Authority has issued Index Base Insurance Directory, 2082. The Directory can be viewed from the link below:

https://nia.gov.np/Admin/images/Law/Directive/6a04559befa16_1778668955.pdf

Issuance of Guidelines for Valuation of Assets using Mark-to-Model Approach

The Nepal Insurance Authority has issued Guidelines for valuation of Assets using mark to model approach. The Guidelines can be viewed from the link below:

https://nia.gov.np/Admin/images/Law/Directive/6a045528e5ccd_1778668840.pdf

Notice Regarding Company Registration and Purchase of Share by Local Level

Office of Company Registrar has issued notice regarding company registration and purchase of share by local level. The notice can be viewed from the link below:

https://ocr.gov.np/content/80/information-about-how-the-local-level-can/

Guidelines for Monitoring Businessmen Dealing in Precious Metals or Commodities, 2082

The Inland Revenue Department has issued Guidelines for monitoring businessmen dealing in precious metals or commodities, 2082. The Guidelines can be viewed from the link below:

https://ird.gov.np/content/13480/guidance-on-monitoring-of-traders-in-precious/

PUBLIC SECTOR NEWS /UPDATES

63rd Annual Report of the Auditor General Published

Office of the Auditor General has published 63rs Annual Report of the Auditor General after completing the audit of fiscal year 2081/82. The Hon’ble Auditor General, Mr. Toyam Raya, submitted the annual report to the Rt. Hon’ble President, Mr. Ramchandra Poudel on 1^st Jestha 2083.The report can be viewed from the link below:

63^rd Annual Report: https://oag.gov.np/site_uploads/mahalkhaparakashhakaka-63ou-varashhaka-paratavathana-1396153055.pdf

Report Summary: https://oag.gov.np/site_uploads/mahalkhaparakashhakaka-tarasatathaou-varashhaka-paratavathana-sarasha-1610169921.pdf

Province Report: https://www.oag.gov.np/reports/province-report

Local Level Report: https://www.oag.gov.np/reports/local-level-report

Federal Budget 2083/84 Unveiled

The Federal Budget for Fiscal Year 2083/84 was tabled by Hon’ble Finance Minister Mr. Swarnim Wagle, PhD in the House of Representatives and National Assembly on 29th May 2026 (2083/02/15). Link to access Budget Speech FY 2083/84:

https://giwmscdnone.gov.np/media/pdf_upload/budget%20speech%202083_nz9wmgt.pdf

Link to access Finance Bill 2083:

https://giwmscdnone.gov.np/media/pdf_upload/%E0%A4%86%E0%A4%B0%E0%A5%8D%E0%A4%A5%E0%A4%BF%E0%A4%95%20%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A5%87%E0%A4%AF%E0%A4%95%2C%20%E0%A5%A8%E0%A5%A6%E0%A5%AE%E0%A5%A9_lzxbrvm.pdf

Appropriation Bill, 2083

The Government has published appropriation bill to make provisions for the allocation and expenditure of funds from the Federal Consolidated Fund for services and works for the fiscal year 2083/84. The bill can be viewed from the link below:

https://giwmscdnone.gov.np/media/pdf_upload/%E0%AA_wlxnmwm.pdf

Bill to Raise National Debt, 2083

The Government has published bill to raise national debt, 2083. The bill can be viewed from the link below:

https://giwmscdnone.gov.np/media/pdf_upload/%E%A9_gsnojtu.pdf

Ministry Level Progress Report, 2083

Ministry of Finance has published Ministry wise progress report that comprises of actual data and performance during fiscal year 2081/82 and details up to Chaitra end for the fiscal year 2082/83. The report can be viewed from the link below:

https://giwmscdnone.gov.np/media/pdf_upload/%E0%A4-2083_dyofehh.pdf

Climate Change Finance Framework (Revised Edition 2024)

The Ministry of Finance has issued revised edition of Climate Change Finance Framework, Revised Edition 2024. The revised edition of CCFF can be viewed from the link below:

https://mof.gov.np/content/1720/climate-change-financial-blueprint--revised-edition--2024-/

PUBLIC SECTOR NEWS /UPDATES

Multi-Year Project Source Agreement Standards, 2082 (First Amendment)

The Ministry of Finance has issued first amendment to Multi-Year Project Source Agreement Standards, 2082. The amendment can be viewed from the link below:

https://mof.gov.np/content/1715/multi-year-project-resource-consent--first-amendment--standards-/

Nepal's Current Economic Situation (Baisakh 2083)

The Ministry of Finance has issued Nepal’s Current Economic Situation as of Baisakh 2082. The report can be viewed from the link below:

https://mof.gov.np/content/1719/current-economic-status-of-nepal--april-2083/

INTERNATIONAL UPDATES

Recent in IFAC Knowledge Gateway

The latest research and publications, articles and other updates in IFAC Knowledge Gateway during the quarter from April to June 2026 are outlined below for reference:

IFAC and SAICA to Co-Host 2028 World Congress of Accountants in Cape Town, South Africa

The International Federation of Accountants (IFAC) and South African Institute of Chartered Accountants (SAICA) are thrilled to announce the World Congress of Accountants (WCOA) will be held in Cape Town, South Africa in November 2028. Recognized as the accountancy profession’s premier global gathering, WCOA is a bi-annual event that brings together representatives of the profession from jurisdictions around the world to strengthen the accountancy community through shared learning, collaboration, and relationship-building. Further details can be viewed from the link below:

https://www.ifac.org/news-events/2026-05/ifac-and-saica-co-host-2028-world-congress-accountants-cape-town-south-africa

IPSASB Proposes Improvements and Narrow Scope Amendments to IPSAS Standards for Comment

The International Public Sector Accounting Standards Board® (IPSASB®) has issued Exposure Draft (ED) 95, Improvements to IPSAS Accounting Standards – Volume 10, and ED 96, Definition of an Operation and Recognition of Acquired Liabilities and Contingent Liabilities (Amendments to IPSAS 40) for public comment. Further details can be viewed from the link below:

https://www.ipsasb.org/news-events/2026-04/ipsasb-proposes-improvements-and-narrow-scope-amendments-ipsas-standards-comment

IESBA Launches Surveys for Post-implementation Reviews of NOCLAR Standard and the Restructured Code

The International Ethics Standards Board for Accountants (IESBA) has launched two stakeholder surveys as part of its Post-Implementation Reviews (PIRs) of the provisions of the Code addressing Responding to Non-Compliance with Laws and Regulations (NOCLAR), and the Restructured Code. The surveys aim to assess whether the NOCLAR provisions and the Restructured Code are achieving their intended objectives by identifying benefits and implementation challenges, and to inform any actions the IESBA may need to take in response. Further details can be viewed from the link below:

https://www.ethicsboard.org/news-events/2026-04/iesba-launches-surveys-post-implementation-reviews-noclar-standard-and-restructured-code

https://www.ethicsboard.org/news-events/2026-04/iesba-snapshot-post-implementation-reviews-noclar-standard-and-restructured-code

New Channel for User Voices: Launch of the Joint IAASB-IESBA User Advisory Group

The International Auditing and Assurance Standards Board (IAASB) and International Ethics Standards Board for Accountants (IESBA) have established a joint User Advisory Group (UAG), creating a dedicated channel for users of financial statements and other external reporting to directly inform global standard setting. Further details can be viewed from the link below:

https://www.ethicsboard.org/news-events/2026-04/new-channel-user-voices-launch-joint-iaasb-iesba-user-advisory-group-0

IAASB Releases New ISSA 5000 Materiality FAQs to Support Consistent, Effective Application in Sustainability Assurance Engagements

The International Auditing and Assurance Standards Board (IAASB) has released a new Frequently Asked Questions (FAQs) publication to support implementation of the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.

Further details can be viewed from the link below:

https://www.iaasb.org/news-events/2026-06/iaasb-releases-new-issa-5000-materiality-faqs-support-consistent-effective-application

IESBA Releases Guide on Proportionality of the IESBA Code

The International Ethics Standards Board for Accountants (IESBA) has released a guide to its approach to proportionality in the ethics and independence standards in the IESBA Code. The publication entitled “Proportionality of the IESBA Code” aims to support all professional accountants, and especially small and medium practices (SMPs), in understanding how the Code maintains a universal high ethical bar while employing proportionality mechanisms embedded in its design. Further details can be viewed from the link below:

https://www.ethicsboard.org/news-events/2026-05/iesba-releases-guide-proportionality-iesba-code

Keynote Address from IESBA Chair Gabriela Figueiredo Dias - EFAA Annual Conference, Dublin

The Keynote Address from IESBA Chair Gabriela Figueiredo Dias - EFAA Annual Conference, Dublin can be viewed from the link below:

https://www.ethicsboard.org/news-events/2026-05/keynote-address-iesba-chair-gabriela-figueiredo-dias-efaa-annual-conference-dublin

IESBA Snapshot: Ethics and Independence Approach to the Use of Technology

IESBA's snapshots provide short, non-technical overviews of IESBA projects and initiatives. They explain the purpose, direction, and current focus in clear and accessible terms, alongside more detailed technical materials. This Snapshot focuses on how IESBA is supporting the profession through this period of rapid technological change. Further details can be viewed from the link below:

https://www.ethicsboard.org/news-events/2026-06/iesba-snapshot-ethics-and-independence-approach-use-technology

IESBA Snapshot: The Firm Culture and Governance Project

IESBA’s snapshots provide short, non-technical overviews of IESBA projects. They explain the purpose, direction, and current focus in clear and accessible terms, alongside more detailed technical materials. This Snapshot focuses on IESBA’s Firm Culture and Governance Project. Further details can be viewed from the link below:

https://www.ethicsboard.org/news-events/2026-06/iesba-snapshot-firm-culture-and-governance-project

Targeted Ethics Code Update on Firm Culture and Governance

Firm culture and governance will be addressed through a targeted update to the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code), following a decision on the way forward by the International Ethics Standards Board for Accountants (IESBA) at its June 2026 board meeting in New York. Further details can be viewed from the link below:

https://www.ethicsboard.org/news-events/2026-06/targeted-ethics-code-update-firm-culture-and-governance

IAASB Seeks Feedback on Proposed Revisions to ISRE 2410 to Strengthen Interim Review Engagements

The International Auditing and Assurance Standards Board (IAASB) has released for public consultation an Exposure Draft that proposes revisions to International Standard on Review Engagements (ISRE) 2410, Review of Interim Financial Information by the Independent Auditor of the Entity’s Annual Financial Statements. Comments are requested by September 3, 2026. Further details can be viewed from the link below:

https://www.iaasb.org/news-events/2026-05/iaasb-seeks-feedback-proposed-revisions-isre-2410-strengthen-interim-review-engagements

IASB issues amendments clarifying the fair value option in IAS 28

The International Accounting Standards Board (IASB) has issued targeted amendments to clarify which investments in associates and joint ventures a company is eligible to measure using the fair value option in IAS 28 Investments in Associates and Joint Ventures. Further details can be viewed from the link below:

https://www.ifrs.org/news-and-events/news/2026/06/iasb-issues-amendments-clarifying-fair-value-option-ias-28/

ISSB agrees on the proposed way forward for nature-related disclosures

The International Sustainability Standards Board (ISSB) has during its April board meeting in Beijing agreed to propose requirements for nature-related disclosures in the form of an IFRS Practice Statement. The ISSB’s existing Standards already require companies to provide material information about all sustainability-related risks and opportunities, including nature-related risks and opportunities that could reasonably be expected to affect a company’s prospects. Further details can be viewed from the link below:

https://www.ifrs.org/news-and-events/news/2026/05/issb-agrees-proposed-way-forward-nature-related-disclosures/

Enhancing the SASB Standards—Phase 1

The ISSB published the Exposure Draft Proposed Amendments to the SASB Standards and IFRS S2 Industry-based Guidance in March 2026. The Exposure Draft is related to the Exposure Draft Proposed Amendments to the SASB Standards, published in July 2025. Together, these two exposure drafts set out proposed amendments to 12 SASB Standards initially prioritized by the ISSB as part of its project on Enhancing the SASB Standards. The ISSB expects to consider feedback on the Exposure Draft after the comment period closes on 24 July 2026. Further details can be viewed from the link below:

https://www.ifrs.org/projects/work-plan/enhancing-sasb-standards-phase-1-cont/

Exposure Draft and comment letters: Enhancing the SASB Standards—Phase 1—Continued

The International Sustainability Standards Board (ISSB) has published the Exposure Draft Proposed Amendments to the SASB Standards and IFRS S2 Industry-based Guidance in March 2026. The Exposure Draft will be open for comment for 120 days, with the comment period closing on 24 July 2026. Further details can be viewed from the link below:

https://www.ifrs.org/projects/work-plan/enhancing-sasb-standards-phase-1-cont/ed-cl-sasb-cont/

Exposure Draft and comment letters: IFRS for SMEs Accounting Standard—Consolidation Exception

In May 2026, the International Accounting Standards Board (IASB) published the Exposure Draft Consolidation Exception. The IASB is proposing amendments to the IFRS for SMEs Accounting Standard to introduce an exception from presenting consolidated financial statements for an SME with an ultimate (or intermediary) parent that is an investment entity and that does not present consolidated financial statements. Instead, the investment entity parent presents financial statements in which its subsidiaries are measured at fair value through profit or loss in accordance with IFRS 10 Consolidated Financial Statements. The Exposure Draft will be open for comment for 120 days, with the comment period closing on 9 September 2026. The IASB plans to issue any resulting amendments by the end of 2026. Further details can be viewed from the link below:

https://www.ifrs.org/projects/work-plan/ifrs-for-smes-accounting-standard-consolidation-exception/ed-cl-consolidation-exception/

Exposure Draft and comment letters: Risk Mitigation Accounting—Proposed amendments to IFRS 9 and IFRS 7

The International Accounting Standards Board (IASB) has published the Exposure Draft Risk Mitigation Accounting, proposing amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. The IASB is proposing to add a risk mitigation accounting model for companies managing repricing risk on a net basis; and to require a company to disclose its strategy for managing repricing risk and the effects of its risk management activities. Further details can be viewed from the link below:

https://www.ifrs.org/projects/work-plan/dynamic-risk-management/ed-cl-risk-mitigation-accounting/

Video: Preparing for IFRS 20 implementation

IASB Vice-Chair Linda Mezon-Hutter explains how companies can prepare for IFRS 20 Regulatory Assets and Regulatory Liabilities. Further details can be viewed from the link below:

https://www.ifrs.org/supporting-implementation/supporting-materials-by-ifrs-standards/ifrs-20/preparing-for-ifrs-20-implementation/

IFRS Foundation updates guide on the IFRS digital taxonomies architecture

The IFRS Foundation has updated its guide on the IFRS digital taxonomies architecture. The IFRS digital taxonomies translate IFRS Accounting Standards and IFRS Sustainability Disclosure Standards into a structured, machine-readable format using eXtensible Business Reporting Language (XBRL). Further details can be viewed from the link below:

https://www.ifrs.org/news-and-events/news/2026/06/ifrs-foundation-updates-guide-digital-taxonomies-architecture/

IFRS for SMEs Accounting Standard Update

IFRS foundation has published update of SMEs accounting standards. Further details can be viewed from the link below:

https://www.ifrs.org/supporting-implementation/2015-ifrs-for-smes-supporting-materials/sme-updates/2026/june-2026-ifrs-for-smes-accounting-standard-update/

IFRS Foundation proposes updates to IFRS Accounting Taxonomy 2025

The IFRS Foundation has published IFRS Accounting Taxonomy 2025—Proposed Update 1 General Improvements. Further details can be viewed from the link below:

https://www.ifrs.org/news-and-events/news/2026/06/ifrs-foundation-proposes-updates-accounting-taxonomy-2025/

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