Financial Accountability in Nepal: Country Assessment
Reforms in financial management are critical and should be approached in an integrated way covering planning, budgeting, accounting, internal control, internal audit, external audit, and oversight. Reform in only one area of financial management will not result in the same degree of expected benefits. This diagnostic study analyzes the budgeting, accounting, financial reporting and auditing systems, and the standards and practices in both the public and private sectors of Nepal's economy. The objectives of this study are to evaluate the strengths and weaknesses of the system, to assess the fiduciary risk that investments in both the public and private sectors are subject to and to identify the needs for capacity building in these areas.
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accounting and auditing Accounting Standards accounting system Accounts Committee accounts staff Administration AG's agencies Annual Report anti-corruption approved Asian Development Bank assessment assistance auditing standards Auditing Standards Board Auditor bodies budget budgetary support capacity building CFAA team Chapter Chartered Accountants CIAA commercial banks Company Act compliance comply corruption Council Country CPAR DDCs development partners DFID donors DTCO ensure FCGO fiduciary risk financial accountability financial management financial statements fiscal framework funds guidelines HMGN ICAN implementation improve internal audit internal control irregularities issues laws line ministries loan LSGA ment monitoring Municipalities National Nepal Rastra Bank Nepalese NGOs non-governmental organizations OAG's Office outputs percent performance auditing prepare private sector procurement programmatic lending projects Public Expenditure recommendations regulations revenue SEBO Secretary Standards Board strengthening submit transparency Transparency International VDCs
Page 37 - the King shall, in respect of every financial year, cause to be laid before a joint sitting of Parliament an annual estimate
Page 29 - Nepal is one of the world's poorest countries with a per capita income of US$220
Page 70 - has been a member of the International Organization of Supreme Audit Institutions (INTOSAI)
Page 70 - by a two-thirds majority of the total membership of the House of Representatives.
Page 114 - the financial statements (balance sheet, profit and loss account, and cash flow statement)
Page 83 - are appointed for a term of six years. Their appointments may be renewed,
Page 115 - of at least ten percent of the paid-up capital of the company, or at least one-fourth of the total number of