KATHMANDU: Auditors' Association of Nepal (AUDAN) organised a programme to mark the 18th establishment day in Kathmandu, on Saturday.
Addressing the programme, Finance Minister Prakash Sharan Mahat said that accounting and auditing are associated with economic good governance which has a crucial role in ensuring economic transparency.
The finance minister said that the challenges seen in the country's economy after the Covid 19 pandemic have gradually improved and the government has been making the best possible efforts to bring about reform in the economy through fiscal and monetary policies.
Some crucial efforts have been made to address the issues seen in the economy, he said, admitting that some challenges in the economy still exist. He added, "We tried to bring liberal monetary policy. Something has been addressed. But, it is still not as per the private sector's expectations."
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Minister Mahat mentioned that challenges were seen in the economy due to poor capital expenditure against the government target. However, he hoped that capital expenditure will be as per the target in the current fiscal year. "We could not put sufficient budget on the heading of capital expenditure. But, liquidity will increase in the economy if we can spend the allocated amount," he hoped.
AUDAN President Kedar Nath Poudel, while giving a welcome speech, said that the purpose for which AUDAN was established has been fulfilled. On the occasion, he also informed about the walkathon and blood donation programme in which around 100 persons participated.
He said the concept of one person, one profession is being applied to registered auditors, and that policy is not appropriate. He brought to the attention of Minister Mahat that it will create problems for auditors to work as a profession, contrary to the Auditors' Act, 2031 (1974).
He also opined that the amendment to Nepal Chartered Accountants Act, 2057 should be discussed and taken forward during the amendment process.
AUDAN President Poudel said that CTEVT will introduce the 1,696-hour class to offer a course on professional accounting with 80% theoretical and 20% practical. He informed that the preparation of the course has reached the final stage.
On the occasion, Confederation of Nepalese Industries (CNI) President Rajesh Kumar Agrawal urged the government to come up with an industrialist-friendly policy.
Likewise, The Association of Chartered Accountants of Nepal (ACAN) President Deepak Pandey thanked the auditors for establishing the brand of auditors in the market.
He said the Chartered Accountants from Nepal are migrating to Dubai, Malaysia, Australia and European countries. Pandey opined that CA can play a vital role in formulating state policy and rules, and even at three levels of the government. However, there is no environment for such things. Mentioning that the issues of ACAN and AUDAN are similar, he said both associations can work together.
In the programme, Officiating Auditor General Maheshwar Kafle said that the financial condition of the organisations reflects the financial condition of the country and emphasized the importance of these organizations in the national economy. He mentioned that the work of AUDAN is also connected with the Office of the Auditor General.
Similarly, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Vice President (Commodity) Hem Raj Dhakal said that FNCCI concurs with the issues raised by AUDAN. Stating that many industrial businesses have collapsed, and closed, he suggested the government bring an easy policy for the industrialists. He opined that the development of the country will be supported only if the industrial sector is supported.
Likewise, FNCCI Vice President (Industry Commerce) Sur Krishna Vaidya said that there were many accounting problems in the districts citing the lack of manpower capable of maintaining accounts. He urged the Ministry of Finance to train the youths in the district. He stated that the plan to provide accounting training through CTEVT on behalf of AUDAN was positive, and suggested creating an environment for skilled manpower to go to villages.
Vaidya drew the attention of Finance Minister Mahat saying that the work has decreased compared to yesterday, however, the bank interest has not decreased, and more than half of the businesspersons have been blacklisted, which has created a chaotic situation. He urged to bring responsible policies to solve the economic crisis being faced by businesspersons.
AUDAN, which has more than 7,000 members, has expanded to 65 districts in the country.
