CHAPTER-II Establishment of the Institute

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Establishment of the Institute: (1) An institute by the name of (the) Nepal Chartered Accountants Sanstha is hereby established for development of the accounting profession.
(2) The Institute shall be named as “the Institute of Chartered Accountants of Nepal” in English language.
(3) The headquarter of the Institute shall be located in Kathmandu Valley, and the Institute may, as per necessity, set up its offices or training centers or branch and sub-branch in any place within the Kingdom of Nepal.

The Institute to be an Autonomous Body: (1) The Institute shall be an autonomous and body corporate with perpetual succession.
(2) The Institute shall have a separate seal of its own for its business.
(3) The Institute may, like an individual, acquire, own, and dispose off or otherwise deal with movable and immovable property.
(4) The Institute may sue and also be sued in its name, like an individual.

Objective of the Institute: The objectives of the Institute shall be as follows:-
(a) To play the role of a regulatory body to encourage the members to carry on accounting profession being within the extent of the code of conduct in order to consolidate and develop accounting profession as a cause for economic development of the nation.
(b) To enhance social recognition and faith in accounting profession by raising awareness of the general public towards the importance of accounting profession and the economic and social responsibility of professional accountants.
(c) To develop, protect and promote the accounting profession by enabling professional accountants understand their responsibility towards the importance of accounting profession and accountancy.
(d) To develop mechanism of registration, evaluation and examination of accounting professionals in consonance with international norms and practices so as to make the accounting profession respectable and reliable.

Nobody Else Allowed to Use the Name, Emblem and Authority of the Institute: After the establishment of the Institute pursuant to this Act, nobody shall be allowed to use any name or emblem resembling the name of the Institute or to certify anyone or to issue any guidance to anyone on behalf of the Institute or to exercise any of such authority bestowed to the Institute.

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CHAPTER-II Establishment of the Institute

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