AUDAN sheathes protest sword
Kathmandu, March 19:
Auditor’s Association of Nepal (AUDAN) has withdrawn its protest against the Institute of Chartered Accountants Nepal after reaching an agreement with it.
AUDAN was protesting against the ICAN move to stop AUDAN members from working as auditors.
ICAN has agreed to lift the prohibition on Certificate of Profession (CoP) to AUDAN members and conduct talks about AUDAN’s 17-point charter of demands.
AUDAN was on protest to get its 17-point memorandum conceded. It padlocked ICAN’s office from March 6 to 9 forcing ICAN to reach an agreement with it.
According to the agreement, the charge for preparing audit reports by registered Kha grade auditors has been increased to Rs 400 million from Rs 200 million. The minimum qualification required for upgrading registered auditors from Gha to Ga grade will be I.Com while for the promotion of registered Kha grade auditors minimum qualification will be at least Bachelors degree with 15 years of auditing experience.