Dear Professional Friends,
How Council of ICAN is constituted
A council is constituted pursuant to Section 7 of
the “Nepal Chartered Accountants Act, 2053” for carrying out, or
causing to be carried out, the programmers necessary for the attainment of the
objectives of the Institute in a well-planned manner and for monitoring and
managing all the acts and actions of the Institute.
the “Nepal Chartered Accountants Act, 2053” for carrying out, or
causing to be carried out, the programmers necessary for the attainment of the
objectives of the Institute in a well-planned manner and for monitoring and
managing all the acts and actions of the Institute.
The Council shall consist of the following
councilors;
councilors;
§ 10
Persons elected by CA from amongst themselves
Persons elected by CA from amongst themselves
§ 4
Persons elected by RA among themselves
Persons elected by RA among themselves
§ 3
Persons nominated by Government upon Auditor Generals Recommendation having
experience on accountancy.
Persons nominated by Government upon Auditor Generals Recommendation having
experience on accountancy.
The councilors shall elect the chairperson and the
vice chairperson from the first class CA out of the Councilors members.
vice chairperson from the first class CA out of the Councilors members.
Here is an interaction worth doing.
Why do we elect our representatives for Council?
What is their role and what they actually do? Have they done their job
perfectly all these years? These are some of pertinent questions which come to
our mind. However, when we see the present state of affairs of our Institute,
we really find ourselves at the cross-roads and find ourselves in a panic.
What is their role and what they actually do? Have they done their job
perfectly all these years? These are some of pertinent questions which come to
our mind. However, when we see the present state of affairs of our Institute,
we really find ourselves at the cross-roads and find ourselves in a panic.
Burning issues professional are facing:
Why
no study is conducted by ICAN to understand the demand and supply scenario of
CAs in Nepal. The uncontrolled intake has led to a situation where many
students are left frustrated, as they are stuck in the finals. No serious
effort has been made to understand the dilemma of new CAs coming to market and
their aspirations. I find many young CAs working at Salaries which a simple
graduate draws in the market.
no study is conducted by ICAN to understand the demand and supply scenario of
CAs in Nepal. The uncontrolled intake has led to a situation where many
students are left frustrated, as they are stuck in the finals. No serious
effort has been made to understand the dilemma of new CAs coming to market and
their aspirations. I find many young CAs working at Salaries which a simple
graduate draws in the market.
Why
the Institute has not been able to enhance the quality of education? (Where can
the students find their updated study materials they are paying for during the
registration itself). It appears that the quality has taken a back seat and the
drive is only on quantity. This institute is not a money minting machine. It
must not compromise on quality and standards at any cost. Instead of
accumulating funds and enhancing its cash and cash equivalents, it should
concentrate more on quality, ethics, developing un-matched skills, creating
power in the hand of professionals, giving more benefits to members and add
value to its brand by all means. Here, I would refrain from quoting comments of
general publics on deteriorating Standards of our profession.
the Institute has not been able to enhance the quality of education? (Where can
the students find their updated study materials they are paying for during the
registration itself). It appears that the quality has taken a back seat and the
drive is only on quantity. This institute is not a money minting machine. It
must not compromise on quality and standards at any cost. Instead of
accumulating funds and enhancing its cash and cash equivalents, it should
concentrate more on quality, ethics, developing un-matched skills, creating
power in the hand of professionals, giving more benefits to members and add
value to its brand by all means. Here, I would refrain from quoting comments of
general publics on deteriorating Standards of our profession.
What
and how many Certification by CAhas the institute made mandatory before
presenting any report or any documents with the government or other else, so
far.
and how many Certification by CAhas the institute made mandatory before
presenting any report or any documents with the government or other else, so
far.
Has
the Institute generously regulated the members (Registered Auditors). The
double Book Keeping practice, double signing of Audited Reports (For Bank and
Tax Separately). Is the institute unknown about it or are the councilors just
fighting for their political career and other personal interest (business
development) sorts of things.
the Institute generously regulated the members (Registered Auditors). The
double Book Keeping practice, double signing of Audited Reports (For Bank and
Tax Separately). Is the institute unknown about it or are the councilors just
fighting for their political career and other personal interest (business
development) sorts of things.
Why
the Institute has not increased to the level where it has greater role to play
in Annual Budget preparation and other National & State level policy
matters ( Where there could have been a major role of CA) where interest of
profession is involved. The Government takes recommendations from Corporate
Houses, Business Chambers and Trade Associations or Foreign Experts (Big 4
kinds of Firms), but hardly gives any importance to a premier Institute like
ours.
the Institute has not increased to the level where it has greater role to play
in Annual Budget preparation and other National & State level policy
matters ( Where there could have been a major role of CA) where interest of
profession is involved. The Government takes recommendations from Corporate
Houses, Business Chambers and Trade Associations or Foreign Experts (Big 4
kinds of Firms), but hardly gives any importance to a premier Institute like
ours.
Why
ICAN is traditionalized as ‘just an Accounting and Auditing Standardization
Body’ when we professionals overly contribute in the overall trade, commerce,
taxation, Audit and Assurance, financial services, start-ups, mergers &
acquisition, e-commerce, etc.? This clearly shows that the Institute has not
made enough efforts for Marketing and Brand Building. No research centers yet
all.
ICAN is traditionalized as ‘just an Accounting and Auditing Standardization
Body’ when we professionals overly contribute in the overall trade, commerce,
taxation, Audit and Assurance, financial services, start-ups, mergers &
acquisition, e-commerce, etc.? This clearly shows that the Institute has not
made enough efforts for Marketing and Brand Building. No research centers yet
all.
The
institute has not launched a Post-qualification courses (if launched no one is
well known about it and none has picked-up recognition in the market).
Institute should have launched and well-marketed Post-qualification courses to
the Corporate and other end users of the Nepalese market. This kind of passive
approach will not work in the interest of its members.
institute has not launched a Post-qualification courses (if launched no one is
well known about it and none has picked-up recognition in the market).
Institute should have launched and well-marketed Post-qualification courses to
the Corporate and other end users of the Nepalese market. This kind of passive
approach will not work in the interest of its members.
As
a leading Institute and having interest in the area of taxation matters, the
Institute has never attempted to develop any user friendly software for the
benefit of its members for filing Tax Returns and TDS returns in collaboration
with the Inland Revenue Department (IRD).
a leading Institute and having interest in the area of taxation matters, the
Institute has never attempted to develop any user friendly software for the
benefit of its members for filing Tax Returns and TDS returns in collaboration
with the Inland Revenue Department (IRD).
As
a principal accounting body, the Institute should have played major role in
standardizing Accounting Software which are in compliance with Company law,
Accounting Standards and Tax laws of the country. Instead, all is left to the
market forces (The developers them self-standardize the software as per the
required statute, where no CAs requirement seems needed). I feel, there is a
need for a common platform across the country. Today, we have come to a
situation where even accounting software has to be updated on yearly basis.
It’s a free for all kind of a situation where the Institute has totally
surrendered and left the field open for anyone and everyone and at any cost.
a principal accounting body, the Institute should have played major role in
standardizing Accounting Software which are in compliance with Company law,
Accounting Standards and Tax laws of the country. Instead, all is left to the
market forces (The developers them self-standardize the software as per the
required statute, where no CAs requirement seems needed). I feel, there is a
need for a common platform across the country. Today, we have come to a
situation where even accounting software has to be updated on yearly basis.
It’s a free for all kind of a situation where the Institute has totally
surrendered and left the field open for anyone and everyone and at any cost.
The
ICAN should have played effective role at the time of preparation and passing
of new Companies Act, 2073, and further what I felt is that the Office of the
Company (OCR) Should have consulted the Institute in every new development and
changes (armaments), but they develop the system as per their own ease, wherein
the authority of CAs has been significantly diluted.
ICAN should have played effective role at the time of preparation and passing
of new Companies Act, 2073, and further what I felt is that the Office of the
Company (OCR) Should have consulted the Institute in every new development and
changes (armaments), but they develop the system as per their own ease, wherein
the authority of CAs has been significantly diluted.
Creation
and Collection of “Building Fund” was a good idea. Has it been able
to make any numbers of Regional Center Buildings (So far, as I was been helped
to know about the numbers of Regional Centers as on date it’s at Biratnagar,
Pokhara, Birgunj, Nepalgunj, Dhangadi, Butwal and Rented).But
what purpose it has served so far?
and Collection of “Building Fund” was a good idea. Has it been able
to make any numbers of Regional Center Buildings (So far, as I was been helped
to know about the numbers of Regional Centers as on date it’s at Biratnagar,
Pokhara, Birgunj, Nepalgunj, Dhangadi, Butwal and Rented).But
what purpose it has served so far?
There
have been questions raised by most of member’sfirstly w.r.t to transparency in
allocation of Bank Audits and other Govt. related assignments and next never
ending concept of Branch Audit of Banks. Young practitioners and members do
look for such assignments with great hope. However, they feel disappointed when
they do not get such assignments on equitable basis. The Institute should
function as an exchange for collection and distribution of all Banks and Govt.
related assignments based on some standards rather than the Individual
Autonomous take of Office of the Auditor General only.
have been questions raised by most of member’sfirstly w.r.t to transparency in
allocation of Bank Audits and other Govt. related assignments and next never
ending concept of Branch Audit of Banks. Young practitioners and members do
look for such assignments with great hope. However, they feel disappointed when
they do not get such assignments on equitable basis. The Institute should
function as an exchange for collection and distribution of all Banks and Govt.
related assignments based on some standards rather than the Individual
Autonomous take of Office of the Auditor General only.
Association of
Chartered Accountants of Nepal (ACAN) so far known to be an association of
chartered accountants need to take the step ahead for our profession and
professional. Let’s not make the Profession political. Let’s brand our
profession together with a simple tag “Your Brand is My Brand”.
Chartered Accountants of Nepal (ACAN) so far known to be an association of
chartered accountants need to take the step ahead for our profession and
professional. Let’s not make the Profession political. Let’s brand our
profession together with a simple tag “Your Brand is My Brand”.
There are many more
questions and issues which our members are coping with. Therefore, it will not
be wise for our Council members to do any routine administrative functions to
be their achievements. We can’t ignore the situation on the ground and keep
living in a fool’s paradise for long.
questions and issues which our members are coping with. Therefore, it will not
be wise for our Council members to do any routine administrative functions to
be their achievements. We can’t ignore the situation on the ground and keep
living in a fool’s paradise for long.
However, I am not at
all a pessimist and look forward for change to happen sooner than later. Let’s
not get influenced by a few elements, let’s unite together for the profession,
if not the profession will suffer and if profession suffers, we will all fall
down under the fragments of a half-built bridge.
all a pessimist and look forward for change to happen sooner than later. Let’s
not get influenced by a few elements, let’s unite together for the profession,
if not the profession will suffer and if profession suffers, we will all fall
down under the fragments of a half-built bridge.
We have seen
personalities taller than Institutions and here we are just trying to keep our
Institute standing with pride, dignity and authority. Believe me it is not a
very big deal. The only need of the hour is strict determination and right
motive.
personalities taller than Institutions and here we are just trying to keep our
Institute standing with pride, dignity and authority. Believe me it is not a
very big deal. The only need of the hour is strict determination and right
motive.
I Hope Things Can Change And Things Can Change Fast.
Wish you all the best in your professional endeavor.
“Let’s Participate and Progress Together”
“WeCAN”
#Stay_Happy, #Stay_Safe, #Stay_Connected
~By CA Loken
प्रतिक्रिया दिनुहोस्