Reanda Nepal Partner CA. Gopal Prasad Pokharel Nominated as Member of Accounting Standards Board (ASB) Nepal

Reanda Nepal, one of the leading accounting firms in Nepal, is pleased to announce that the firm’s Senior Partner CA. Gopal Prasad Pokharel has been nominated as member of Accounting Standards Board (ASB) Nepal for a three-year term. The nomination was made recently on 30 August 2018 by Government of Nepal on recommendation of The Institute of Chartered Accountants of Nepal.

The Accounting Standards Board (ASB) is an independent statutory body with the responsibility to set and issue accounting standards for preparation and presentation of financial statements in Nepal. The Government of Nepal established ASB in March 2003 with an amendment to the Institute of Chartered Accountants of Nepal Act 1997 incorporating the provision for its establishment and operation. The ASB is primarily responsible for setting accounting and financial reporting standards for business enterprises in line with the International Financial Reporting Standards (IFRSs). Since 2007, ASB has also been entrusted by Nepal Government with the responsibility to develop accounting standards for public sector in line with the International Public Sector Accounting Standards (IPSASs).

The ASB consists of 13 members comprising a Chairman appointed by the Government of Nepal from Fellow Chartered Accountants (FCA) and other members are representative of Ministry of Finance, representative of Office of the Auditor General, representative of Financial Comptroller General Office, Company Registrar of Office of the Company Registrar, Director General of Inland Revenue Department, Chairman of Securities Board of Nepal and Five Chartered Accountants (CA) and One Registered Auditor (RA) nominated by Government of Nepal on recommendation of The Institute of Chartered Accountants of Nepal (ICAN).