Abbreviation ICAN | ||
Motto Purity of mind and clarity of wisdom Formation January 30, 1997; 20 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 | ||
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. 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 who were practising audits before the establishment of ICAN.
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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
Constitution of Council
Council established according to Section 7 of Nepal Chartered Accountants Act, 1997 comprises following members;