Who This Is For:

• All companies registered under Nepal Companies Act 2063
• Private and public limited companies above the audit threshold
• Foreign company branches and subsidiaries operating in Nepal
• Any entity where lenders, investors, or regulators require audited financial statements
• Companies preparing for sale, merger, or external financing

What We Deliver:

• Engagement letter with defined scope, materiality, and timeline
• Business risk assessment and audit planning memorandum
• Detailed audit of trial balance, financial statements, and supporting documentation
• Compliance testing of revenue, expenses, assets, and liabilities
• Auditor's Report in ICAN and Companies Act prescribed format
• Management Letter with control observations and recommendations
• AGM-ready audit pack
• OCR filing support and coordination

Our Statutory Audit Methodology:

1. Client Acceptance and Continuance Assessment
2. Business Understanding (operations, industry, key risks)
3. Risk Assessment and Materiality Setting
4.  Audit Planning and Control Environment Evaluation
5. Substantive Testing (transactions, balances, disclosures)
6. Related Party Transaction Review
7. NFRS Compliance and Disclosure Assessment
8. Final Review and Partner Sign-off
9. Management Letter Preparation
10. Report Issuance and Filing

FAQ:

Q: When must the statutory audit be completed?

A: The audit report must be available for presentation at the Annual General Meeting (AGM), which must be held within six months of the financial year end. The annual return with audited accounts must then be filed with OCR.

Q: Can a company choose any CA as its statutory auditor?

A: Yes, but the auditor must be ICAN-qualified, hold a valid practicing certificate, and be independent of the company (no director, employee, or financial interest).

Q: What happens after the audit is complete?

A: The auditor's report is presented at the AGM, approved by shareholders, and then the annual return (including audited accounts) is filed with OCR within six months of year end.