Government of Nepal Formed First Board of Accounting Standards Board, Nepal in July 2002 with an amendment to the Institute of Chartered Accountants of Nepal Act 1997 incorporating the provision for its establishment and operation.
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Following is the First Term formation of the Board by Goverment of Nepal, which is published in Nepal Gazetee.
ASB Nepal consists of 13 members comprising a Chairman & Members
Accounting Standards Board Formation:
Chairman : Fellow Chartered Accountant (FCA), nominated by the Government of Nepal
Member : Representative of Ministry of Finance
Member : Representative of Office of the Auditor General
Member : Representative of Financial Comptroller General Office
Member : Company Registrar of Office of the Company Registrar
Member : Director General of Inland Revenue Department
Member : Chairman of Securities Board of Nepal
Members : Five Chartered Accountants (CA) & One Registered Auditor (RA) nominated by Government of
Nepal on the recommendation of Institute of Chartered Accountants of Nepal's Council.