Publication: Financial Accountability in Nepal : A Country Assessment
Date
2003-03
ISSN
Published
2003-03
Author(s)
World Bank
Abstract
This document assesses the quality of
financial accountability and transparency in Nepal and makes
recommendations for improvement. The findings and
recommendations were widely discussed with various
government agencies, non-government agencies, private
sector, oversight agencies, and donor partners. The review
concluded that the lack of compliance and poor
implementation of the regulations is the single most
important problem that affects public sector financial
accountability of Nepal. With respect to public funds, the
report reviews the government's budgeting, financial
planning, cash flow management, accounting and financial
reporting, at the central and local government level. It
assesses what it would take to qualify the country for
programmatic lending or budgetary support in replacement of
individual project lending. With respect to the private
sector, the report examines accounting and auditing
standards and practices, the development of the Institute of
the Chartered Accountants of Nepal, the demand for, and the
supply and training of accountants and auditors. The report
also assesses the framework for corporate governance and
reviews the activities of the Registrar of Companies, the
Securities Exchange Board, and the Stock Exchange. With
respect to non-governmental sector, it examines the
financial accountability aspect of non-governmental organizations.
Citation
“World Bank. 2003. Financial Accountability in Nepal : A Country Assessment. World Bank Country Study;. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/ca38be50-3e2d-5182-b8ba-46f49fd8ae28 License: CC BY 3.0 IGO.”