Chartered Accountancy is a professional course in accounting that covers all aspects of practical training such as accounting, auditing, taxation and financial analysis. It is a prestigious and rewarding profession in the society. It is a challenging career that imparts the best of technical skills in financial and management areas. Chartered Accountancy profession occupies a prominent role of higher-level executives in our society, economy, trade and business, banking, education, taxation, finance, etc. Chartered Accountancy in other words means a door to a secured and sophisticated career.
With only a decade long history in Nepal, CA has now become one of the preferred subjects for students. Chartered Accountancy in Nepal is a practical based five-year course that gives a wide range of profesional knowledge about the job.
Likewise, Chartered Accountants are the individuals who receive recognition from the chartered institutes (The Institute of Chartered Accountants of Nepal (ICAN) - in case of Nepal) after meeting examination and practical experience requirements. The chartered accountant is authorized to render an audit opinion on a company's financial statements. Chartered Accountants today hold top management positions in public as well as private sector enterprises. They also render professional services as accountants and management consultants to various private and public sector organizations. The work of Chartered Accountant was born and has grown up in parallel with the rise of capital markets in the 19th century. And two centuries on, the high-quality financial information and audit that CAs provide supports global business confidence.
In the changing global context, roles and responsibilities of chartered accountants are not confined to performing mere traditional duties in the fields of Auditing, Accounting, Taxation, etc. They are now expected to have a greater understanding of and experience in the fields of business finance, information technology, corporate management, etc. Professional expertise and skills in these subjects do, therefore, constitute the indispensable parts of the CA Education. Chartered accountants work in many different roles providing financial advice and specialist knowledge in areas like audit and assurance, corporate finance, insolvency, tax, forensic accounting, financial reporting and others.
CA courses can be pursued either from The Institute of Chartered Accountants of Nepal (ICAN) or from The Institute of Chartered Accountants of India (ICAI). ICAN, established in 1997 under the Nepalese Chartered Accountants Act, 1997, is the apex body with sole responsibility to regulate and develop the accounting profession in Nepal. Though theoretically CA is a five-year course in Nepal and four-year course in India, less than 25% students are able to complete it during this duration. The examination syllabus is extensive and in depth studies is required. Therefore becoming a CA is a tough proposition though the prospects that the career holds is worth the grill. On successful completion of the Final Exam, the aspiring CA can apply for membership of The Institute of Chartered Accountants of Nepal (ICAN).The Accountant becomes chartered only after acquiring its membership.