President’s Message
President’s Message
It is my pleasure to connect with you through this edition of our Journal, sharing reflections and milestone achieved during October to December 2025 by the Institute. The Nepal Chartered Accountants Journal is our medium of communication to keep our members informed and updated about the institutional activities along with the professional developments.
The December 2025 issue of the Journal is based on Global Accounting Initiative in Nepal (GAIN) theme, the special edition journal features highlights on ICAN’s GAIN project, profile interview contributed by the experienced professionals engaged in such service assignments, testimonial from the foreign outsourcing companies sharing their experience of working in Nepal along with some insightful articles on offshore accounting and accounting outsourcing. I hope that the matters featured in issue shall be useful to the members to understand its functional mechanism and enhance their knowledge base for exploring the opportunity in account outsourcing industry. I am of the view that some South Asian countries have established strong foot hold in the global market of accounts outsourcing and Nepal also can take advantages of this opportunity.
I am also delighted to share with you that CA Prabin Kumar Jha, Immediate Past-President and Council Member has been appointed as the Vice-President of the South Asian Federation of Accountants (SAFA) for the year 2026 with effective from 1st January 2026. On behalf of the Institute I would like to congratulate him being appointed in such a prestigious post and wish for his success.
I now present a brief summary of the activities of various Departments of the Institute, in addition to those referred above:
Expanding Reach and Credibility of Accounting Profession
During the period, I had a virtual meeting with AccountEx Executive, Richi Harwood to discuss about ICAN’s participation in AccountEx London 2026 that is to be held in May 2026. ICAN organized an interaction program with the practicing members along with representatives of ACAN and AuDAN as a part of Accounting Practice Development Project.
I also attended a virtual meeting with the World Bank team to discuss on Report on the Observance of Standards and Codes – Accounting and Auditing (ROSC A&A) and shared ICAN’s committed in promoting excellence in accounting and auditing practice in Nepal in line with international standards. A meeting of Joint Coordination Committee comprising of delegation from ICAN and National Cooperative Regulatory Authority (NCRA) was held to prepare Guidelines for Prudential Audit of Cooperatives and develop guidelines for involving Chartered Accountants in the supervision of cooperatives.
The Institute published result of CA Membership Examination in September 2025 whereby 30 applicants qualified in the exam and were eligible to obtain ICAN membership. Also, CA Examination, December 2025 was also conducted across the Nation whereby, total 6,300 students appeared in various levels.
Besides, the Institute also organized Students’ Orientation Program for newly enrolled students in the June 2026 examination which was attended by around 493 students enrolled. The Institute also launched Virtual Learning Platform (VLE) to provide online access of soft copy to Learning Materials under the new CA syllabus for ICAN members and students.
Engaging Members and Collaboration with Stakeholders
An interaction program on Workplace Dignity was organized in collaboration with ACAN, AuDAN and NCASA with an objective to enhance understanding of harassment-related issues within the professional community and promote a culture of respect, safety and accountability in the workplace.
The Institute hosted a webinar on “Practical Issues and FAQs of UDIN System” focusing on recent updates in the UDIN System and key procedural requirements under the UDIN Related Bylaws, 2082. The Institute also conducted a two-day Comprehensive Masterclass on Startup Advisory to equip members with practical skills to transition from compliance-focused roles to strategic Startup Advisors and Virtual CFOs, in response to Nepal’s evolving startup ecosystem.
A Certification Course on “AI for Members” was organized in technical collaboration with the Institute of Chartered Accountants of India (ICAI). And, the Institute also published result of Information System Audit (ISA) Assessment Test Examination held in technical support of the Institute of Chartered Accountants of India. One Continuing Professional Education (CPE) program was organized in Kathmandu and two Members’ Capacity Development Program were organized one in Kathmandu and another in Janakpur related with Consideration of Misstatement Scenarios in Forming an Audit Opinion and NFRS in Cooperatives.
A delegation from ICAN participated in SAFA Best Presented Annual Report Award Ceremony 2025 hosted by the Institute of Chartered Accountants of Pakistan. I am happy to share with you that 5 companies from Nepal were awarded with various award in the SAFA BPA 2025. The Institute celebrated International Accounting Day by organizing a webinar on topic “Accounting Profession: Evolution and Contemporary Issues”
Expanding Role as Government’s Partner for Economic Prosperity and Elevating Global Standing
A delegation led by me had a cordial meeting with Hon’ble Finance Minister, Mr. Rameshwar Khanal at the Ministry of Finance. The matters of discussion in the meeting were related with Global Accounting Initiative of Nepal (GAIN) Project, amendment in Nepal Chartered Accountants Act, 2053, equivalence of CA qualification, accommodating CA in government services and opportunities for collaboration in Public Financial Management and other sectors. The Institute also signed MoU with the Central Investigation Bureau (CIB) of Nepal Police for collaborative action in combating corporate financial crimes.
A delegation led by me comprising of fellow Council Members attended the Ordinary Meeting of the International Federation of Accountants (IFAC) Council followed by an IFAC Global Connect: Better Together (“IFAC Global Connect”) program on 12th and 13th November 2025 in Mexico City, Mexico and IFAC Connect Global Events Series, CAPA Meeting, and the 68th Anniversary of the Institute of Chartered Accountants of Indonesia (IAI) held in Jakarta, Indonesia, from 2nd to 6th December 2025. Similarly, I along with Vice-President virtually attended the SAFA Board Meeting hosted by the Institute of Chartered Accountants of Pakistan. Whereby, various Council Members attended the meeting of SAFA Committee in which they are members.
The Institute has signed MoU with Manipal University Jaipur (MUJ) for the Enhancement of Professional and Academic Excellence in Accounting, Auditing, and Related Disciplines. The Institute has also signed MoU with Institute of Internal Auditors India (IIA, India) as renewal of previous MoU. The MoU aims to facilitate ICAN members in obtaining membership of IIA India along with all associated benefits, including membership of IIA Inc.
A virtual meeting was held with representatives from the ICAN US Chapter and ICAN members based in Canada and the UAE to gather constructive feedback on strengthening ICAN’s international presence.
Ensuring Operational Resilience and Sustainability
The Institute launched “Grievance Handling and Complaint Management System” in accordance with the Grievance Redressal Byelaw, 2025. The Institute also recruited seven staff in different positions based on the process of Public Service Commission. Likewise, a five-day yoga session for staffs at Head Office was organized in collaboration with Patanjali Yog Samiti Nepal, Lalitpur District Committee and a one-day training on “Self-Awareness & Positive Attitude for Excellence” was organized for all staff of ICAN
Conclusion
Before I bring this address to a close, I am hopeful that the support from members, council members, past presidents, stakeholders, management team and Government will continue in the days to come. I would like to express my sincere appreciation to all the authors, reviewers, and members of the Editorial Board for their valuable efforts and contributions.
As a final note, I would like to draw your attention to the Global Accounting Initiative in Nepal (GAIN) Project launched by ICAN. This ambitious initiative aims to generate employment, earn foreign currency, strengthen Nepal’s recognition in the international market, and contribute to the nation’s economic growth. Achieving these goals requires coordinated efforts from all stakeholders; however, the role of professional accountants is especially critical to the success of the GAIN Project. I therefore urge all professionals to continue learning, strengthening their technical expertise, and expanding their professional networks, so that together we can turn the vision of “Think Accounting, Think Nepal” into a real-world success.
Best Wishes,
CA Nil Bahadur Saru Magar,
President