Auditors peeved at not getting grading

Kathmandu, August 3:

Auditors in Nepal are a miffed lot. Laws regarding their rights have failed to fulfil their demands though they are registered members of the Institute of Chartered Accountants of Nepal (ICAN). The Registered Auditors’ Association (RAA) has raised its hackles at the discrepancy.

“We are not facilitated with the grading system though we are members of ICAN, and we are also not allowed to mention the term member officially,” said Jeev Narayan Baral, general secretary of the Auditor’s Association of Nepal.

According to the association, though ICAN is the regulatory body it does not have effective rules and regulations regarding auditors. There are more than 7,000 auditors in Nepal but only 4 nominated ones are allowed to participate in the voting conducted by ICAN while 10 chartered accountants participate in it. “Only four auditors are allowed to participate in the voting and only the registered association’s are allowed to vote, I think this system is not effective. We want a new effective system of voting so that we also can get noticed,” said Baral. The auditors’ association has already submitted its demands on 27th April and a drafting committee including two members from ICAN and two from RAA is preparing to forward its first draft today. ICAN joint director Parmananda Adhikari said, “The rules and regulations that we have were laid down jointly with the consent of the auditor’s association. Chartered accountant (CA) has A grade. Auditors have B, C, and D.”