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Areas of Professional Practice

Anjan Nepal & Associates undertakes professional engagements in the areas set out below, in accordance with applicable Nepal Standards on Auditing, Nepal Financial Reporting Standards, and the regulatory framework of the Institute of Chartered Accountants of Nepal.

📋 Audit & Assurance 🧾 Accounting ⚖️ Taxation 💡 Consultancy 🔍 Development Audit 💻 IT Advisory
Audit & Assurance
Assurance Engagements

Audit & Assurance

Audit engagements are conducted with the objective of expressing an independent opinion on whether financial statements present a true and fair view in accordance with Nepal Financial Reporting Standards (NFRS), under Nepal Standards on Auditing (NSA).

  • External Statutory Audit — Financial statement audit per local statutory requirements
  • Internal Audit & Advisory — Independent assurance on risk, control and governance
  • Review of Financial Statements — Limited assurance engagements
  • Agreed-Upon Procedures — Custom-scope factual findings engagements
  • Special Purpose Audits — Forensic, regulatory and sector-specific audits
  • NFRS / IFRS Reporting — Full compliance with Nepal and international standards
  • Certifications & Attestations — Under relevant laws and regulations
  • IS Audit — Information systems and control environment review

Methodology

Audit engagements follow a structured approach: understanding the entity and its environment → risk assessment → designing audit procedures → forming conclusions. Conducted in accordance with NSA requirements.

Accounting & Bookkeeping
Accounting Services

Accounting & Bookkeeping

Accounting and bookkeeping services are provided in accordance with applicable Nepal Financial Reporting Standards and statutory requirements. The firm has working experience with accounting platforms including PUMRORY, FINACLE, QuickBooks and Tally ERP.

  • Bookkeeping — General ledger, subsidiary ledger, trial balance maintenance
  • Financial Statements — Annual, quarterly and half-yearly preparation
  • Monthly Management Accounts — Tailored to management requirements
  • Fixed Asset Management — Schedules, depreciation and reconciliation
  • Accounting Software — Implementation, training and report generation
  • Reconciliations & Verifications — Balance sheet and subsidiary reconciliations
  • Management Reports — Dashboard reporting and operational insights
  • Accounting Manuals — Preparation and periodic review

Software Platforms

The firm has working experience with PUMRORY, FINACLE, QuickBooks and Tally ERP across various client engagements.

Taxation Services
Taxation Services

Taxation

Tax compliance and advisory services are provided under the Income Tax Act 2058, VAT Act 2052, and related Finance Acts. The firm monitors changes in tax legislation to assist clients in meeting their compliance obligations.

  • Income Tax Return Filing — Individual and corporate returns under ITA 2058
  • VAT Registration & Returns — Monthly/quarterly VAT filings under VAT Act 2052
  • TDS Compliance — Deduction, deposit and reconciliation
  • Tax Evaluation & Planning — Strategic minimisation within legal frameworks
  • Tax Assessment Assistance — Representation before IRD for assessments
  • Corporate Tax Advisory — Structuring, exemptions and incentives
  • Tax Dispute Resolution — Objections and appeals management
  • Sales Tax Register Maintenance — Monthly records and compliance

Reference Materials

Current tax tables, IRD circulars and finance acts are available in the Resources section of this site for reference.

Consultancy & Advisory
Advisory & Consultancy

Consultancy & Outsourcing

Advisory and consultancy services cover financial modelling, feasibility assessment, due diligence, preparation of Standard Operating Procedures, and evaluation of internal control systems in accordance with professional standards.

  • Project Feasibility Studies — Financial viability assessment and projections
  • Financial Modelling — Cash flow, sensitivity analysis and scenario planning
  • Business Evaluation — Valuation for acquisition, restructuring or investment
  • Due Diligence — Financial and operational review for M&A transactions
  • SOP Preparation — Standard Operating Procedures for key business processes
  • Internal Control Evaluation — Assessment against best practices
  • Revenue Growth Strategies — Cost reduction and efficiency improvement advisory
  • Outsourced CFO Services — Part-time financial leadership for growing businesses
Development Sector Audit
Development Sector

Development & NGO Audit

The firm undertakes audit engagements for development organisations, INGOs and donor-funded programmes in accordance with applicable donor guidelines, international standards and ICAN requirements. The proprietor has prior experience in audits across several such organisations.

  • UN Agency & INGO Audits — UNDP, UNICEF, WHO and global NGO frameworks
  • Global Fund Programme Audit — Health programme grant verification
  • Donor-Funded Project Audit — DFID/Swiss/USAID funded programme audits
  • Physical Verification — Asset and programme implementation verification
  • Programme Compliance Review — Against donor agreements and MOU terms
  • Fund Utilisation Certification — Certification letters for donor reporting
  • Multi-country Audit Coordination — Nepal-based and international programme coordination
IT & Systems Advisory
Information Systems

IT & Systems Audit

Information systems audit and advisory covers the review of automated information processing controls, ERP system integrity, access management and IT general controls as part of audit and assurance engagements.

  • IS Audit — Input, processing and output controls; security and backup review
  • System Implementation Audit — Review during ERP and core banking deployment
  • ERP & Software Review — Access controls, user management, data integrity
  • Digital Finance Advisory — Digital wallet, payment gateway and remittance systems
  • Fintech Advisory — Regulatory compliance for fintech products in Nepal
  • IT General Controls Review — ITGC assessment for financial audit purposes
Audit Cycle

The Professional Engagement Cycle

Each engagement follows a structured cycle from planning to reporting, in accordance with applicable NSA standards.

Planning & Risk Assessment
Fieldwork & Evidence
Review & Quality Control
Reporting & Opinion