Institute of Chartered Accountants of Nepal

Total members (2023/24)

Controversies

Tax exemption controversy

Two practising chartered accountants, Lumba Dhwaj Mahat and Umesh Prasad Dhakal, were involved in misappropriating state tax revenue through dubious tax settlements as Chairman and Member of Tax Settlement Commission involving Chudamani Sharma, Director General of Inland Revenue Department (Nepal). The corruption scam was considered as one of the biggest in the Nepalese history. ICAN disciplinary committee failed to take any action against the two accused CAs. Vice-Chairman Jagannath Upadhyay Niraula said that "the disciplinary committee can take action only after receiving information or the complaint is lodged against any chartered accountant. We have not received any complaint against the duo." The fraud amounted to NRs. 21 billion. Both the CAs have fled from the incident and were declared fugitive by Commission for the Investigation of Abuse of Authority.

Bharatpur Listing controversy

46 Nepalese audit firms, including the firm of former President of ICAN CA Prakash Jung Thapa (i.e. PJ Thapa & Company), were listed in the Bharatpur Municipality against the legal regulations of ICAN. On 18 October 2019, ICAN President Krishna Prasad Acharya has declared to punish the audit firms for conducting such illegal listing.

References

References

1. "The Institute of Charted Accountants of Nepatl".
2. "Indian CA graduates to be barred from practicing".
3. "Nepali chartered accountants graduating from India won't be allowed to practice back home".
4. "Chartered Accountant".
5. "The Institute of Chartered Accountants of Nepal (ICAN) | List of Members".
6. "CIAA summons TSC chairman, member".
7. "Arrest warrant likely against Mahat, Dhakal".
8. "ICAN silence on two accused CAs".
9. "CIAA appeals for public help to nab TSC officials - Transparency International Nepal".
10. (18 October 2019). "पूर्वअध्यक्षको फर्मसहित ४६ अडिटरले मिचे आइक्यानको निर्देशन, प्रकाश थापा भन्छन्, 'आजै सच्याउँछु' (प्रमाणसहित)".
11. "पूर्वअध्यक्षको फर्मसहित ४६ अडिटरले मिचे आइक्यानको निर्देशन, प्रकाश थापा भन्छन्, 'आजै सच्याउँछु' (प्रमाणसहित)".
12. (18 October 2019). "सिए सरोकारको समाचारपछि भरतपुर महानगरपालिकालाई पिजे थापाको पत्र, 'हामीलाई सूचीकरणबाट हटाईयोस्'".