Section 2: Definitions

Unless the subject or the context otherwise requires, in this Act,-

(a) “Prescribed” or “as prescribed” means prescribed or as prescribed in the rules framed under this Act.

(b) “Corporate body wholly owned by the Government of Nepal, Provincial Government or Local Level” means a corporate body of which all shares or assets are owned by the Government of Nepal, Provincial Government or Local Level or a corporate body of which all shares or assets are owned by the aforesaid corporate body or by such a corporate body and the Government of Nepal, Provincial Government or Local Level. This term also includes a corporate body for which the Government of Nepal, Provincial Government or Local Level is required to bear full responsibility.

(c) “Accounts” means any records, ledgers, books, or other papers to be maintained under the prevailing law, showing the statements of financial transactions, and this term also includes any records maintained through electronic means or electronic records substantiating such transactions.

(d) “Audit” means examination of the accounts and accounts related to the business of the bodies referred to in Section 3 and the analysis and evaluation to be made on the basis thereof, and this
term also includes an act of follow-up audit.

(e) “Accounts-related documents” means such documents as may be required to perform the audit of the bodies referred to in sub-section (1) of Section 3, and this. This term also includes strategies, annual or periodic plans, plans of action, decisions, agreement or understandings, progress reports, monitoring and evaluation reports of such bodies and such other documents or statements, data or information stored in the electronic system as may be related to the act of audit.

(f) “Corporate body” means a corporate body of which more than fifty percent of the shares or assets are owned by the Government of Nepal, Provincial Government or Local Level, and this term also includes a body of which the corporate body owns more than fifty percent of the shares or assets.

(g) “Government Office” means any government office at the federal, provincial and local levels, including the Office of the President, Office of the Vice-President, Supreme Court, Federal Parliament, Provincial Assembly, Provincial Government, Office of the Chief of Province, Constitutional Body or Office thereof, court, Office of the Attorney General, Nepal Army, Nepal Police and Armed Police Force, Nepal.