Tue, May 21, 2024

Third National Conference of Accounting Professionals to be Held in Kathmandu

B360 April 17, 2024, 2:37 pm
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KATHMANDU: The Third National Conference of Accounting Professionals will be held in the capital starting Thursday. The two-day conference is being organized by the Institute of Chartered Accountants of Nepal (ICAN), the regulatory body for chartered accountants.

The Institute organized a press conference on Tuesday to inform about the completion of preparations for the conference.

According to the Institute's president, Sujan Kumar Kafle, the conference will feature presentations and in-depth discussions on the development of Nepal's accounting system, international practices, and necessary reforms for the future. He expects over a thousand accounting professionals to attend the conference.

The conference, to be held at the Nepal Academy, will be inaugurated by Damodar Bhandari, the Minister for Industry, Commerce, and Supplies.

Asmâa Resmouki, President of the International Federation of Accountants (IFAC), the international regulatory body for accounting professionals, is scheduled to be the keynote speaker at the conference. According to Yuddha Raj Oli, former president of ICAN and a council member, the participation of the head of the international regulatory body is a significant event for Nepal. He said that the conference is being organized to share Nepal's adoption of international practices in the accounting profession with stakeholders and to hear their concerns. "We consider this conference a fair for accounting professionals," he said.

On the first day, Thursday, there will be three discussion sessions in addition to the opening ceremony. Similarly, the second and final day, Friday, will feature discussion sessions on sustainable business strategies for small and medium enterprises, regulation with cooperation, and skill development for professional services.

ICAN has been working on developing CA education in Nepal and regulating its members. During the conference, ICAN will also prioritize advocating for the creation of separate positions for chartered accountants in government agencies.  The conference will also discuss setting minimum fees for the work of accounting professionals and reviewing the quality of work done at lower rates, according to President Kafle.

The conference will be attended by the Governor of Nepal Rastra Bank (central bank), the Revenue Secretary, the President of Ekayan (an accounting association), the President of Adan (an auditors' association), CEOs and senior CAs from various commercial banks and companies. Additionally, a discussion on regulation is planned with the participation of representatives from the Nepal Stock Exchange Board, Money Laundering Investigation Department, Cooperatives Department, Nepal Insurance Board, Department of Internal Revenue, Central Investigation Bureau, and Company Registrar's Office.

Accounting professionals from all over Nepal are expected to participate in the conference. The first conference was organized by ICAN in 2022, with 1300 participants. The second National Conference was held in 2023, with 1200 participants

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