Nepal’s Auditor General Urges Joint Efforts to Remove Country from ‘Grey List’

Nepal’s Auditor General, Tanka Mani Sharma Rai, has emphasized the need for collective efforts from all stakeholders to remove the country from the ‘grey list’ related to asset laundering.

Speaking at the oath-taking ceremony of the newly elected president and vice-president of the Nepal Chartered Accountants Association, Rai stated that the Financial Action Task Force (FATF) has placed Nepal on the ‘grey list’ due to the country’s failure to effectively prevent money laundering.

Call for Cooperation

Rai urged the Nepal Chartered Accountants Association to play a crucial role in helping the country exit the ‘grey list’ by conducting audits and other activities with integrity.

He also emphasized the need to expose any irregularities or discrepancies in auditing and other activities with honesty.

Rai informed that the Nepal Chartered Accountants Association’s Act is not up-to-date and needs to be amended, and the necessary process will be initiated soon.

Emphasis on Impartial Auditing

Dr. Gopal Prasad Bhattarai, Chairman of the Nepal Stock Exchange, urged the association to conduct audits of banks, financial institutions, and private and public companies in an impartial and honest manner.

Outgoing President CA Neel Bahadur Saru Magar stated that he had made efforts to enhance the dignity of the association during his tenure.

Magar handed over the ‘President Medal’ to the newly elected President CA Anand Raj Sharma Wagle and handed over the responsibility.

New Leadership’s Commitment

President Wagle expressed his commitment to further strengthen the professionalism of the association since its establishment and move forward.

He also administered the oath to the newly elected Vice-President CA Hem Kumar Kafle.

Vice-President Kafle expressed his commitment to making auditing and other activities more reliable and effective.