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 insitute also has around 7,000 registered auditor members whom were practising audits before the establishment of ICAN.
The Institute has its head office in Kathmandu and regional offices at Biratnagar, Butwal and Birgunj. The institue has finalized its plans to establish yet another regional office at Pokhara soon.
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.
Famous quotes containing the words institute and/or chartered:
“Whenever any form of government shall become destructive of these ends, it is the right of the people to alter or to abolish it, & to institute new government, laying it’s foundation on such principles & organising it’s powers in such form, as to them shall seem most likely to effect their safety & happiness.”
—Thomas Jefferson (1743–1826)
“When he speaks,
The air, a chartered libertine, is still.”
—William Shakespeare (1564–1616)