Government Accounting and Auditing System ~ Nepal

 Nepal follows an accrual-based accounting system, which records financial transactions when they occur, regardless of when the cash is received or paid. 

The Office of the Auditor General (OAG) is responsible for maintaining the government’s accounts, ensuring the accuracy and completeness of financial records.

The objectives of auditing in Nepal include:

• Encouraging transparency and accountability in public reporting.

• Enhancing financial accountability and competence in the allocation of public resources.

• Monitoring regularity, financial prudence, and the impact of government activities1.

The Auditor General plays a crucial role in ensuring transparency and accountability in financial operations within the public domain. Their audit reports provide valuable insights into the financial activities’ transparency and responsiveness

Important Links:

• THE FINANCIAL PROCEDURES AND FISCAL RESPONSIBILITY ACT, 2076 

• The Audit Act, 2075 (2019)

• Supreme Audit Institution of Nepal  

• https://oag.gov.np/page/m-43/en 

• https://www.ausb.gov.np

• CONSOLIDATED FINANCIAL STATEMENTS