What Next Mr. President

  • Loken Ayer
Dear Mr. Jagannath Upadhyay Niraula, Honorable President of ICAN, 
Being a member of ICAN yourself, you are well aware that our Institute was established as a Statutory Body by an Act of Parliament in 2053 for regulating the profession of Chartered Accountancy in the Country, which means all the Accounting, Reporting and Auditing Standards shall be solely laid down by ICAN only. 

You are also well aware that the affairs of the ICAN are being managed by a Council in accordance with the provisions of the Nepal Chartered Accountants Act, 2053 and the Nepal Chartered Accountants Regulations, 2061 (Including First Amendment 2072) . The Council constitutes of 17 members of whom 10 are elected by the Chartered Accountants, 4 are elected by the Registered Auditors and remaining 3 are nominated by the Government generally upon recommendation of Auditor General having experience on Accountancy. Therefore, there are already enough checks and balance constituted within the system. 

Given the above situation, there is no need for introducing political interference and undermine the authority of a well-established Institution. How can regulatory powers of the Institute be handed-over in the hands of few bureaucrats who may not have anything to do with Accounting, Auditing, Financial Reporting etc. 

This is simply not acceptable to majority of members of our profession. What is the sanctity of a Statutory Regulatory Authority which is born out of an Act of Parliament and which can be destroyed by Political interference and involvement. 

As a member of our Institute and a person holding key Presidential Position, We hope you can help in working-out some solution to these issues. ICAN is a great Institution and it needs to be protected and not destroyed. Without its Regulatory Authority, ICAN will become just another University which conducts Exams and distributes degrees and Certificates. 

We request your intervention in protecting the independence of ICAN by keeping Political Council at abeyance. 


Further Dear Members,

This is to make the kind written note to the members of ACAN and ICAN to protect our Institute from the menace of sole decision of the so called Council members under the total political influence. 

The institute (ICAN) is facing a quest for survival and is being challenged by none other than its own system and its way of functioning. The way things are going, we will soon lose the very foundation on which our Institute was created.

With each passing day we are facing new challenges to keep our head high and keep ourselves in high morale. 

The situation seems that our Political Govt. comes out with innovative idea of controlling (or rather say suppressing) institutions by creating another political super authority (so called councils) over it, we should get indications that some lobby is seriously working behind Govt. to push its agenda for the reason that these days the trends seen in Politics are from professions. 

As the Members to our Institute, we must share our part of responsibility. However, it is equally important to mention that Govt. and various regulators hardly involve Institute (ICAN) in framing systems and policies. It should rather improve its systems, bring transparency in its working and improve quality of standards and the overall system. In fact Institute (ICAN) should come-out with its own set of suggestions, to keep our members reputation high in the days to come. 

  1. Prohibiting Sole or Political decision in the Institute (ICAN) by the Council Members
  2.  Prohibit using the Institute as a Platform to instigate in the Political group
  3. Prohibiting the increase in the Numbers just for the number, than the Standard Quality 
We request you all to kindly spare few minutes for the future our Institute, understand the issue and sign the petition in person, being approached to the members of ACAN and ICAN in your Independent capacity. 

Let’s Contribute together for the Profession, Let’s make a Change not just a Change but set a Benchmark for Future Generation too.

Best Regards
WeCAN Team