The signing ceremony took place today at the South Asia Federation of Accountant in Kathmandu and was attended by CIPFA president Andrew Burns and Prakash J Thapa, president of ICAN.

Burns said: “CIPFA is delighted to be entering into a partnership with ICAN that will allow us to share expertise in order to further our common goals.

“By working together, we are confident that we will boost confidence and capacity amongst public finance professionals in Nepal, which will have great benefits for citizens.”

Thapa added: “This MoU will help strengthen public financial management in Nepal and will open the door to further collaboration and coordination.

“CIPFA’s expertise and international track record in this area will put Nepal at the forefront of public financial management best practice.”

Under the MoU, the two institutes will share expertise to promote and improve responsible public sector accounting in Nepal. It will also explore routes to CIPFA membership for ICAN members.

ICAN was established in 1997 and has more than 8,400 members working across Nepal.

It is the sole regulator for the accounting profession in the country.

It is a member of both the Confederation of Asian & Pacific Accountants and the South Asian Federation of Accountants.