Topic guide
Accounting, Audit & Reporting
Select framework, prepare statements and understand assurance.
Select the reporting framework
Identify the entity type, reporting period and any regulator-specific requirements before choosing a standard. Read the applicable pronouncement and its effective date. An exposure draft or proposed standard should not be treated as an already effective requirement.
Prepare the explanation behind the figures
Keep reconciliations, policy choices, estimates and supporting schedules with the financial statements. Audit, review, compilation and agreed-upon procedures serve different purposes. Confirm the engagement and reporting requirements rather than assuming that every engagement provides the same assurance.
Available articles
- Audit Firm Quality Management in Nepal — From Risks to Evidence
- Audit Opinions, Going Concern, Related Parties and Fraud Risk
- Auditor Appointment, Independence and Internal or Tax Audit — Choosing the Engagement
- Choosing a Financial Reporting Framework and an Audit Source Set
- Draft NFRS S1 and S2 — Sustainability Reporting Readiness in Nepal
- Employee Benefits, Grants and Borrowing Costs — Accounting and Tax Bridges
- Financial Instruments and Accounting for Income Tax — Two Reconciled Workings
- Financial Reporting Frameworks and NFRS Applicability in Nepal
- Financial Statement Presentation and Cash Flows — A Nepal Preparation Guide
- First-time Adoption, Groups and Business Combinations — A Nepal Reporting Map
- NAS for Micro Entities in Nepal — Current Eligibility and Preparation
- NAS for NPOs in Nepal — Restricted Funds, Reporting and Reconciliation
- NFRS 17 and Insurance Reporting — Contracts, Data and Regulatory Reconciliation
- NFRS 2024 Transition in Nepal — A Documented Adoption Map
- NPSAS2021 — Cash-basis Public-sector Reporting in Nepal
- PPE and Inventory Accounting — Registers, Cost and Impairment
- Related Parties, Provisions and Events After the Reporting Date
- Revenue and Lease Accounting — Read the Contract Before Posting
- Review, Compilation, AUP and Other Assurance — Understanding the Report
- SME Financial Reporting in Nepal — Applicability and a Practical Close
- Statutory Audit and Audit Readiness in Nepal — Evidence Before the Auditor Arrives
Official references
- ASB Publications
Accounting Standards Board Nepal
- ASB Notices
Accounting Standards Board Nepal
- ICAN — Official professional resources
Institute of Chartered Accountants of Nepal
- ASB NFRS 2024
Accounting Standards Board Nepal
- ASB NAS for NPOs 2018
Accounting Standards Board Nepal
- ASB NPSAS 2021
Accounting Standards Board Nepal
- ASB — Draft NFRS S1 and NFRS S2 consultation notice
Accounting Standards Board Nepal
Browse topic resources
- Financial Reporting Frameworks in Nepal
- NFRS Applicability
- NFRS for SMEs / Applicable SME Frameworks
- NAS for MEs
- Financial Statement Presentation
- Accounting Policies & Estimates
- Property, Plant & Equipment / Depreciation
- Inventory Accounting
- Revenue Recognition
- Lease Accounting
- Financial Instruments & Expected Credit Loss Basics
- Related Party Disclosures
- Accounting for Income Tax
- First-time Adoption / Transition
- Statutory Audit Requirements in Nepal
- Tax Audit / Tax Certification Overview
- Internal Audit Overview
- Appointment, Eligibility & Rotation of Auditors
- Audit Documentation & Record Readiness
- Audit Report Opinions & Modifications
- Going Concern
- Related Parties & Fraud Risk
- Professional Ethics, Independence & Quality Management
- Audit Readiness Checklist
- NAS for NPOs — Applicability and Core Requirements
- Nepal Public Sector Accounting Standards (NPSAS) 2021
- NFRS 2024 Adoption and Transition Map
- NFRS 17 — Insurance Contracts
- Sustainability Reporting Readiness — Draft NFRS S1 & S2
- Statement of Cash Flows
- Provisions, Contingent Liabilities and Events after Reporting Period
- Consolidated and Separate Financial Statements
- Business Combinations, Goodwill and Impairment
- Employee Benefits, Government Grants and Borrowing Costs
- Nepal Standards on Auditing — Current Effective Standards Map
- Quality Management for Audit Firms
- Review and Compilation Engagements
- Agreed-upon Procedures Engagements
- Other Assurance and Prospective Financial Information
- Audit of NGO/NPO, Cooperatives and Regulated Entities