Abolish Politics & Protect ICAN
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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.
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