ICAN's New Leadership Pledges Enhanced Credibility and Digital Advancement for Nepal's Accounting Profession

The Institute of Chartered Accountants of Nepal (ICAN), the apex regulatory body for the accounting profession in the country, recently marked a significant leadership transition with the oath-taking ceremony of its newly elected President, CA Anand Raj Sharma Wagle, and Vice-President, Kafle. The event, held at Hotel Royal Tulip in Kathmandu, signals a renewed focus on strengthening the integrity, capacity, and future readiness of Nepal's chartered accountancy sector.

Auditor General Tovam Raya administered the oath of office and secrecy to CA Anand Raj Sharma Wagle, who assumes the presidency for the 10th council's third term. Following this, President Wagle administered the oath to Vice-President Kafle. Both leaders were elected through ICAN's polls conducted on Asar 32, 2083 BS, reflecting the democratic process within the institution that governs thousands of accounting professionals crucial to Nepal's financial ecosystem.

In his inaugural address, President Wagle outlined an ambitious agenda aimed at elevating the profession's standing and adapting to the evolving global financial landscape. He pledged to vigorously strengthen the credibility of the accounting and auditing profession, a cornerstone for fostering investor confidence and ensuring market transparency. Furthermore, he committed to enhancing the institute's organizational capacity, which is vital for efficient regulation, member support, and effective policy implementation. A key focus area highlighted was the acceleration of digital transformation within ICAN and the broader profession, recognizing the imperative of technology adoption for efficiency, accuracy, and combating financial irregularities. Finally, President Wagle underscored the importance of prioritizing members' professional development, ensuring that Nepali chartered accountants remain competitive and highly skilled in a dynamic global environment.

Vice-President Kafle echoed these sentiments, articulating his commitment to several critical areas. His focus will be on reinforcing professional codes of conduct, which are essential for maintaining ethical standards and public trust. He also emphasized the need for quality audits, a fundamental requirement for robust financial reporting and corporate governance, directly impacting investor decisions. Capacity building for young chartered accountants is another priority, aiming to nurture the next generation of leaders and experts. Lastly, Vice-President Kafle expressed his intent to expand international collaboration, which will facilitate the exchange of best practices, promote global recognition for Nepali CAs, and integrate Nepal's accounting standards with international norms.

The ceremony also saw Auditor General Raya unveil ICAN's official new logo, symbolizing a fresh chapter and renewed vision for the institute. In a separate segment of the event, ICAN proudly felicitated students who had brilliantly represented Nepal at the South Asian Federation of Accountants' (SAFA) Quiz and Public Speaking Contest 2025, held in Bangladesh on Shrawan 2. Divash Adhikari and Sampanna Silwal were recognized as joint winners of the prestigious SAFA Quiz, while Rizan Thapa emerged victorious in the Public Speaking Contest, with Kashyap Raj Shrestha securing the first runner-up position. These achievements underscore the high caliber of Nepali accounting students and ICAN's commitment to fostering excellence.

ICAN, established under the Nepal Chartered Accountants Act, 1997, plays a pivotal role as Nepal's sole regulatory body for chartered accountants. Its mandate includes regulating CAs and registered auditors, setting professional standards, and conducting examinations, training, and continuous professional development programs. The new leadership's vision for enhanced credibility, digital advancement, and professional growth is expected to significantly bolster the accounting profession's contribution to Nepal's economic development and financial market integrity, offering a positive outlook for investors seeking transparency and accountability in the corporate sector.