Objectives
The objective of the Board is to formulate accounting standards in line with IAS/IFRSs issued by IASB. The Board has full discretion in developing and pursuing the technical agenda for setting Accounting Standards in Nepal.
Accounting Standards Board (ASB or the Board) Nepal was formed by the Government of Nepal on July 08, 2002 (2059 Ashad 24) with an amendment to the Nepal Chartered Accountants Act, 1997 (first amendment, 2002) 15ka incorporating the provision for its establishment and operation. The ASB Nepal has been formed with the responsibility to formulate accounting standards for the preparation and presentation of financial statements in Nepal. The ASB Nepal is primarily responsible for setting accounting standards for business enterprises in line with the International Financial Reporting Standards (IFRSs). The Board is also responsible to issue interpretations of NFRSs.
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The objective of the Board is to formulate accounting standards in line with IAS/IFRSs issued by IASB. The Board has full discretion in developing and pursuing the technical agenda for setting Accounting Standards in Nepal.
To provide for accounting standards, also based on international accounting standards, in order to systematize and regulate the accountancy and financial reports;
As you know the Accounting Standards Board (ASB or the Board) Nepal was formed by the Government of Nepal on July 08, 2002 (2059 Ashad 24) with an amendment to the Nepal Chartered Accountants Act, 1997 (first amendment, 2002) incorporating the provision for its establishment and operation. The ASB Nepal has been formed with the responsibility to formulate accounting standards for the preparation and presentation of financial statements in Nepal. The ASB Nepal is primarily responsible for setting accounting standards for business enterprises in line with the International Financial Reporting Standards (IFRSs).
Read more
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