Ican Strategic Plan

Striving for Excellence
Strategic
Plan
2014/15 2016/17
"Purity of mind and clarity of wisdom"
Institute of Chartered Accountants of Nepal
The Institute of Chartered Accountants of Nepal

6th Council Members 2013-2014 (Second Term)
CA. Mahesh Kumar Guragain

President
CA. Narendra Bhattarai

Vice President
CA. Madhu Bir Pande

Immediate Past President
CA. Achyut Raj Joshi
CA. Prakash Lamsal
CA. Jitendra Kumar Mishra
CA. Bhaskar Singh Lala
CA. Nirajan Simkhada
CA. Suresh Devkota
CA. Tek Nath Acharya
RA. Badri Prasad Bhattarai
RA. Dol Prasad Dahal
RA. Mohan Kumar Parajuli
RA. Mohan Kumar Subedi
Mr. Guna Raj Shrestha
Mr. Krishna Prasad Devkota
Mr. Jaya Dev Shrestha
CA. Binay Prakash Shrestha

Executive Director
Table of Contents
Messages from
President- The Institute of Chartered Accountants of Nepal
Chairman Research and Development Committee
Research and Development Committee
Introduction
Vision
Chapter I
Mission
Core Values
Objectives
Chapter II
Chapter III
Chapter IV
Strategic Domains and Key Strategies
Strategic Domain
Key Strategic
10
Action Plan
13
1. Public and Government
13
2. Members and Accounting Profession: Ethics and Capacity Development
16
3. Members and Accounting Profession: Market Development
19
4. Students
21
5. International Relations and Global Positioning
24
6. Leadership and Influence
26
7. Institutional Development and Sustainability
28
Implementation and Monitoring
30
Institute of Chartered Accountants of Nepal Strategic Plan 2014/15 2016/17
Message from the President..
Dear Member,
It is my pleasure to present before you, the Strategic Plan 2014/15-2016/17 of The Institute of
Chartered Accountants of Nepal.
Through an extensive exercise and detailed study, a strategic plan has been developed that is relevant
and responsive to the changing needs of the profession. I am confident that the plan identifies the
direction of the Institute into the future and shall serve as an imperative document for the decisions
of council and committees.
I therefore would like to invite you to review the enclosed document to gain an understanding of the
strategic direction of the institute for 2014/15 to 2016/17 and thus beyond.
My sincere thank goes to the members and secretary of the Research and Development Committee
for their valuable input and suggestions in drafting the document. My sincere gratitude extends to
the Council Members and the Executive Management at ICAN who have given their whole hearted
support for the exercise.
Yours faithfully,
CA. Mahesh Kumar Guragain

President
Message from the Chairman, Research and

Development Committee..
Dear Colleagues,
'People in any organization are always attached to the obsolete - the things that should have worked
but did not, the things that once were productive and no longer are.' Peter F. Drucker
Strategic Planning is a process by which we can envision the future and develop the necessary
procedures and operations to make the organization productive and influence and achieve the goals
for the future. Strategic Planning achieved widespread success in the workplace from early 1970s.
Strategy Plan pique the interest of the development managers in contemporary business that consists
of several widely accepted strategic management practices to make the organization productive and
achieve its goals. Based on the same premise the Research and Development Committee of Institute
of Chartered Accountants of Nepal endeavored to prepare Strategic Plan (2014/15 to 2016/17) of the
Institute for the first time.
As a Chair of the Research and Development Committee, I am pleased to present Strategic Plan
(2014/15 to 2016/17) of the Institute.
This Strategic Plan has been developed identifying and analyzing the strengths, weaknesses,
opportunities and threats (SWOT), strategic goals and objectives of the Institute with a view to focus
on setting the direction for the future based on the 7 strategic domains identified. I am confident
that this Strategic Plan will address the challenges and demand of institutional development and to
address the increasing professional demands and pursuing globalization that ICAN continues to face.
I do believe that this Strategic Plan shall pave a path to propagate and promote 'ICAN Brand' and
develop the Institute as a 'Centre of Excellence'.
As a Chair of the Research and Development Committee, I would like to express my sincere
gratitude to all the members of Research and Development Committee who devoted valuable effort
in materializing this Strategic Plan. My gratitude also goes to the President, Council Members and
Executives of the Institute for their untiring inputs at different stages in the process of preparation of
the Strategic Plan that enabled the Committee to make it more relevant reflecting the needs of the
Institute.
Yours faithfully,

President-Elect and Chairman, Research and Development Committee
July 18, 2014
Research and
Development Committee
Terms of Reference
The second tenure of the 6th council led by President CA. Mahesh
Kumar Guragain formed a Research and Development Committee
(R&D Committee) consisting of following members
SN
Name
Position
Chairman
CA. Jagadish Agrawal
Member
CA. Suraj Basnet
Member
CA. Binod Kumar Lamsal
Member
CA. Ganesh Parajuli
Member
RA. Ramjee Adhikari
Member
RA. Jaya Kumari Jha
Member
Prof. Subash KC
CA. Pushpendra Singh
Invitee
Secretary
Amongst others the committee was given the responsibility to

prepare and amend strategic plan of the Institute as and when
required, monitor its implementation and advise the council
appropriately from time to time.
Efforts of the Committee

The committee met for 10 times during the year. Majority
meetings were convened to draft, discuss, review and finalize
the strategic plan. The meetings included a residential meeting
held at Hotel Club Himalaya Nagarkot that was participated by
council members and executives of ICAN to carry out in depth
discussion on the strategic plan. A task force consisting of CA.
Madhu Bir Pande and Mr. Dev Bahadur Bohora was also formed
to streamline and give a final shape to the strategic plan before
submitting to the council.
Approval of Strategic Plan by the Council

The strategic plan was presented before the council for approval
on Ashadh 25, 2071 which was overwhelmingly appreciated and
approved along with some further suggestions to be incorporated
therein.
Chapter I
Introduction
The Institute of Chartered Accountants of Nepal (ICAN) was
established in 1997 under Nepal Chartered Accountants Act, 1997.
Since its establishment ICAN has been putting its thrust on its
regulatory and developmental role that sets the highest standards
of professional and ethical conduct of its members and to
develop, protect and promote the accounting profession. ICAN has
assumed responsibility to provide quality professional education to
accounting professionals in consonance with international norms
and practice so as to make the accounting profession respectable
and reliable
Furthermore, ICAN is supportive towards:
the government with constructive suggestions on
formulation and the revision of legislations relating to
industry and commerce, trades, body corporate, public
financial management, government revenue etc.
Increasing public awareness regarding accounting and
accounting profession so as to enhance the public
recognition and trust towards accounting and accounting
profession
The economic development process by increasing the
confidence among investors and general public towards the
capital market by pronouncing the standards of disclosures
in the financial reporting practices
ICAN Strategic Plan

2014/15-2016/17
The strength of a professional institute rests upon readiness to
embrace the changing environmental needs in which it operates.
No profession, regardless of its history, can rest on its success.
One has to adapt the need of the hour as the business world is ever
changing; it has become more diverse and more complex. It is also
true for ICAN, if it is to prosper, must be prepared to change with it.
The purpose of this Strategic Plan is to set out a strategic path
for ICAN for the years 2014/15 to 2016/17. This Strategic Plan is
developed upon the experiences and ideas shared by the members
of the Research and Development Committee, Council Members
and Executives of ICAN.
This Strategic Plan is based on the commitments to the fundamental
core values of accounting profession. In the changing times in
which we live, maintaining the values for sustainable growth of the
accounting profession is a tough challenge. They pose challenges
not just to the ICAN but to each and every member. It is believed
that this Strategic Plan would definitely give a careful guidance
towards integrated future course of action for the success of ICAN
and to enhance the dignity of the overall accounting profession.
Vision
Objectives
Establish ICAN as a Credible professional accounting body.
To play the role of 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.
Mission
Enhance and promote the reputation and role of accounting
profession and ensure the highest professional quality of members
to make them globally competent
Core Values
Our core values are trust, mutual respect, innovation, relevance,
accountability, integrity and professional excellence.
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.
To develop, protect and promote the accounting profession
by enabling professional accountants understand their
responsibility towards the importance of the accounting
profession and accountancy.
To develop mechanism of registration, evaluation and
examination of accounting professionals in consonance
with international norms and practice so as to make the
accounting profession respectable and reliable.
Chapter II
STRATEGIC DOMAINS AND KEY STRATEGIES

Strategic Domain
Seven strategic domains have been identified as below:
Domains
Particulars of Strategic Domains
Domain 1
Public and Government
Domain 2
Members and Accounting Profession: Ethics and Capacity Development
Domain 3
Members and Accounting Profession: Market Development
Domain 4
Students
Domain 5
International Relations and Global Positioning
Domain 6
Leadership and Influence
Domain 7
Institutional Development and Sustainability
Key Strategies
The key strategies have been developed around seven strategic domains. For each domain the issues are identified, goals are set and
strategies are defined as elaborated in the following table.
Issues
Goals
Strategies
Domain 1 : Public and Government

Enhancement of dignity and respect of
the accounting professionals through the
development and administration of selfregulatory processes that ensure the
professional and ethical competence of all
members;
Transparency and accountability and timely
delivery of all regulatory actions;
To develop and administer

independent and transparent
self-regulatory mechanism that
ensures adherence to higher
ethical standards of all members
to help enhance the reputation
of the profession in public and
government.
Develop ICAN as a Centre of

Excellence attracting high-caliber
individuals to the profession
and setting and enforcing the
highest standards of technical and
professional competence and ethical
conduct.
Regular study and participation in formulating

fiscal policies, corporate laws, industrial
policies, export import policies, taxation,
custom declaration policies.
Domain 2 : Members and Accounting Profession: Ethics and Capacity Development

Undertake self-regulatory processes in
consistent, timely and effective manner to
maintain and enhance the reputation of the
accounting profession;
Introduce post qualification course and
encourage members to pursue the same for the
better and quality service;
Review and monitor the practicing members
and firms through robust and independent
mechanism to ensure the compliance of
technical and ethical standards and to enhance
the professional capacity;
Provide opportunities for continuing professional
development for all members members in
practice, members in industry, members in
government and members in education.
10
To enhance, promote and protect

the reputation of the members
and establish ICAN members as
efficient and effective service
providers in senior management,
accounting, assurance, taxation,
finance and business advisory
services to the private and public
sector.
Enhance, promote and protect the

prominence ICAN Brand setting and
enforcing the highest standards of
education, professional competence
and ethical conduct in consonance
with international norms and
practices.
Issues
Goals
Strategies
Domain 3 : Members and Accounting Profession: Market Development

Increase professional opportunities access of
accounting professionals within the country and
beyond the borders;
Provide practice advice to new and small-medium
practicing members and firms;
Ensure the opportunity and growth of accounting
profession through formulation of rules regarding
network of firms.
To establish ICAN members as

efficient and effective service
providers in senior management,
accounting, assurance, taxation,
finance and business advisory
services to the private and public
sector.
Promote and maintain the preeminence of the Accounting Profession

so that services of Accounting
Professionals are sought in all the
areas in private/corporate and public/
government sectors where Accounting
Professionals can provide value added
services and all the senior financial
positions and advisory roles are filled
by Accounting Professionals.
To ensure that the ICAN attracts

the best and brightest students
and impart world class education,
training and professional
development opportunities.
Enhance, promote and protect ICAN

Brand and stimulate the students to
the accounting profession and impart
world class education, training and
professional development opportunities
to create global professionals;
Domain 4: Students
Ensure that the profession attracts the best and
brightest students;
Ensure adequate training opportunities, suitable
curriculum and standard study materials in
different levels;
Recruitment of appropriate faculties for education
and examination;
Priority to ICAN for CA studies.
Need to develop systematic and well equipped

examination system;
Promote career counseling activities to reach the
rural mass and establish liaison centers;
Ensure that AT Program is run as per international
parlance.
Domain 5: International Relations and Global Positioning

Honor commitments made with international
accounting bodies;
Balanced relation with respect and pride for
professional development;
Mutual recognition and technical cooperation with
foreign accounting bodies with reciprocity;
Dissemination of knowledge gained from
international programs and seminars for
continuous upliftment of ICAN in technical
forefronts.
To harmonize with international

standards in the areas of
education and other technical
standards and to create
an environment of mutual
recognition and understanding
with international accounting
bodies and foster international
relationship to recognize ICAN as
a world class accounting body.
Leverage global opportunities by

harmonizing with the international
education and technical standards so
as to broadening reach and influence of
the ICAN members in other countries
and to support development of
the accounting profession through
MOU/MRA with foreign Professional
Accounting Organizations.
11
Issues
Goals
Strategies
Domain 6: Leadership and Influence

Make provision to ensure reasonable
representation of senior, skilled and experienced
accounting professionals in the council
Lead the agenda for change by positively
influencing governments, regulators, standardsetters and other stakeholders, improving
business and the profession to promote
financial integrity for society.
To lead and engage in policy

reform processes of the
government and by speaking out
on areas where the professions
expertise is highly relevant.
Develop strategic relationships with

stakeholders in government and the
corporate sector as a partnering
process for nation building to
ensure that national strategic goal
and the marketplace duly value the
pre-eminence of the accounting
profession.
Domain 7: Institutional Development and Sustainability

Ensuring availability of resources human,
financial and non-financial;
Restructure organization and management
system as per the need of the time with clear
direction to execute responsibilities;
Attract and retain suitable and competent
individuals who are committed to our values.
12
To ensure that ICAN is governed,

structured and resourced
appropriately with good
governance.
Ensure organizational effectiveness

through appropriate structure,
resources and process reengineering.
Chapter III
ACTION PLAN
In line with the key strategies discussed under Chapter 2, the action plan for each domain for the years 2014/15 to 2016-17 has been
developed along with performance indicators and authority responsible for its execution.
Domain 1: Public and Government

Strategy: Develop ICAN as a Centre of Excellence attracting high-caliber individuals to the
profession and setting and enforcing the highest standards of technical and professional
competence and ethical conduct
SN
Objectives of
Action Plan
Activity Schedule
F/Y 2014-15
Creating enabling
environment for
recognizing the
Institute as real time
advisor for fiscal and
monetary policies
and corporate laws,
including disputes
settlement on taxation
and customs.
F/Y 2015-16
Formation of a core group

for study and framing
opinion on the various areas.
A TOR shall be drafted for
workings procedures of the
group. Scope of the core
group shall cover:
Continue to carry out

the events within the
scope of the core
group in year 1. In
addition the core
group shall provide
suggestion on:
Pre-budget
suggestions, post
budget analysis on
fiscal policies;
Monetary
policies of
NRB;
Suggestions relating
to Income Tax, VAT,
Custom duty, excise
duty etc before
budget;
At least one
discussion program
on above areas.
Directives
issued by
NRB and IB;
Performance
Indicators
Responsible
Authority
Media coverage of
the programs;
ED and Council
member
from MOF in
coordination
with Council.
F/Y 2016-17
Continue to carry
out the events
within the Scope of
the core group in
year 2.
Number of program
organized;
Number of
nominees from
Ministries, IRD,
NRB, Insurance
Board, etc for
participation
in discussion
programs.
Tax directives
issued by IRD;
At least Two
discussion
program on
above issues.
13
SN
Objectives of
Action Plan
Activity Schedule
F/Y 2014-15
Enhance awareness
about the quality,
relevance and
reliability of the
services provided
by the members
ensuring quality
service through Audit
Quality Assurance
Board and project
ICAN Brand as
quality service
provider.
Develop advertisement
materials to promote members
as quality service provider and
business solution engineer
and broadcast and promote
the same.
F/Y 2015-16
Continue the activities
of Year 1 and
strengthen AQA Board
and its functions.
Performance
Indicators
Responsible
Authority
F/Y 2016-17
Continue the
activities of Year
1 and strengthen
AQA Board and its
functions.
To inform through public

notification about ICAN's
requirement regarding
technical and ethical standards
and their compliances from
time to time;
Audit Quality
Assurance Board
Constitutes;
Number of firms
and financial
statement reviewed
and action taken;
Disciplinary
committee and
Audit Quality
Assurance
Board.
The number
of complaints
received and action
taken.
Constitute Audit Quality

Assurance Board (AQA Board)
with proper TOR;
To ensure the independent
review and monitoring through
AQA Board;
To take appropriate action
for the non compliance of
technical and ethical standard
as per report/recommendation
submitted by the AQA Board.
Enhance social
recognition and faith
of the accounting
profession by
conducting
awareness programs
focusing all
stakeholders.
Conduct awareness program

along with career counseling
to the students and parents
at least in 3 development
regions.
Demonstrate the
highest standards of
ethics adopted by the
members of ICAN.
Maintain the compliance with

IFAC code of ethics;
Intensify the process

and conduct
awareness program
along with career
counseling to the
students and parents
in 5 development
regions.
Continue to conduct
awareness program
amongst members
Conduct awareness program
regarding highest
on code of ethics to the
standards of ethics to be
members integrating with CPD
adopted by them.
Program.
Take disciplinary action
Develop mechanism to
against a member for
get information on non
breach of ethics.
compliance of professional
ethics by the members and
take disciplinary action for
breach of ethics:
Coordinate with NRB,
IB, Securities Exchange
Board, ROC and other
concerned authorities;
Develop grievance
receiving mechanism
through the use of
e-mail.
Take disciplinary action
against the members for
breach of ethics.
14
Continue to conduct
awareness program
in 5 development
regions.
Number of
awareness program
organized and
increase in % of
enrollment for Y1,
Y2 and Y3.
Continue to conduct
awareness program
amongst members
regarding highest
standards of ethics to
be adopted by them.
Number of
Professional
awareness programs Development
conducted.
Committee.
Number of action
Take disciplinary
taken on reported
action against a
complains against
member for breach of
members for breach
ethics.
of ethics.
Career
Counseling
Committee.
Disciplinary
Committee.
SN
Objectives of
Action Plan
Activity Schedule
F/Y 2014-15
F/Y 2016-17
Continue advocacy
role
Number of
advocacy programs
held
Professional
Development
Committee
and Members
Department
Continue to organize
CSR programs;
Number of CSR
program organized.
Executive
Committee
Continue to
organize programs
for increasing
the financial
prudence amongst
stakeholders;
Number of
Programs
conducted.
Address the
perceived expectation
gap in the mind
of the public and
government in
respect to the
compliance of
professional code of
ethics.
Undertake advocacy role Continue advocacy

organizing meetings, seminars role
or discussion programs
with FNCCI, Chamber
of Commerce, Bankers
Associations, CNI, different
regulatory bodies, government
agencies including attorney
general, central bureau of
investigation, tax authorities
etc in order to create
awareness about professional
duties and code of ethics.
Promote corporate
social responsibility
(CSR);
Organize programs to
propagate CSR on the
occasion of annual day of
ICAN.
Provide Scholarship to the

needy deserving students;
Organize Blood Donation
Camps and other social
programs directly linked with
social responsibility.
Develop financial
reporting framework
(NFRS for SMEs)
for bringing some
importat sector of the
economy like NGOs,
Cooperatives and
SMEs under main
stream.
Issue simplest but complete

form of financial reporting
framework for NGOs,
Cooperatives and SMEs.
Conduct awareness
programs on the frameworks
in coordination with the
respective regulating
authority.
Responsible
Authority
F/Y 2015-16
Organize programs for

increasing the financial
prudence and governance
amongst stakeholders to
generate benefits for the
common people and society.
Performance
Indicators
programs to propagate
CSR;
programs for
increasing the financial
prudence amongst
stakeholders and to
the public;
Continue to provide
scholarship;
Continue to provide
scholarship;
Continue Blood
Donation program.
Continue organizing
Blood Donation
program and other
social programs
directly linked with
social responsibility.
Suggest the
regulating
authorities to make
the framework
mandatory;
Suggest the regulating

authorities to make the
framework mandatory;
Conduct awareness
programs on the
frameworks in
coordination with the
respective regulating
authority.
Conduct awareness
programs on the
frameworks.
Number of
scholarship granted
NFRS for SMEs

Developed and
Issued.
Professional
Development
Committee.
Number of
awareness program
conducted.
Coordinate with Accounting

Standard Board(ASB) for
finalization of NFRS for
SMEs.
8
Make ICANs
presence strongly felt
within Government
system in various
pertinent policy
decisions relating to
Transparency and
Accountability.
Meeting with Government

authorities like FCGO, OAG,
MOF at-least once in a year.
Meeting with
Government authorities
like FCGO, OAG, MOF
at-least twice in a year.
Meeting with
Government
authorities like
FCGO, OAG, MOF
at-least twice in a
year.
Number of
meeting held
with Government
authorities.
Executive
Committee
15
Domain 2: Members and Accounting Profession: Ethics and Capacity Development

Strategy: Enhance, promote and protect the preeminence ICAN Brand setting and enforcing
the highest standards of education, professional competence and ethical conduct in
consonance with international norms and practices, so as to construct respectable and
reliable accounting profession
SN
Objectives of
Action Plan
Activity Schedule
F/Y 2014-15
F/Y 2015-16
F/Y 2016-17
Responsible
Authority
Enter into MRAs/MOUs with

foreign accounting institutes
to facilitate qualification
recognition and for technical
cooperation arrangement.
Initiate dialogue with the

potential/peer institutes
Initiate process of
mutual recognition/
technical cooperation
with at least one
institute.
Initiate process of
mutual recognition/
technical
cooperation with at
least one institute.
Year 1: Number of
Institute dialogued
with Year 2& 3:
Number of MOU/
MRA signed.
Executive
Director
Get the CA qualification

of ICAN appropriately
recognized by the
universities within the
country and abroad.
Initiate dialogue with the

Universities
Finalization with
universities within the
country
Finalization of
recognition with
other Universities
Number of
recognition
agreed/granted.
Education
Department/
Education
Committee
Monitor the members;

Assurance Board (AQA
Board) to replace the
Peer Review Board and
Monitoring Committee.
Continue awareness
activity and start
reviewing and
monitoring of members'
professional quality
through AQA Board.
Continue
awareness activity
and start reviewing
and monitoring
of members'
professional quality
through AQA Board.
Number of
awareness
activities carried
out;
Review and
Monitoring report
of AQA Board
and action taken
report of council.
Audit Quality
Assurance
Board
Full implementation of
online CPE and review
the implementation of
online CPE program
and its effectiveness.
Conduct and focus

on Webcast and
Webinars;
Year 1:
Implementation of
online CPE;
Year 2& 3:
Number of
Webcast and
webinars,
Number of
members
participated.
CPE
Committee
Finalization of recognition
with at least one University
Develop monitoring
procedure and Audit
Quality Assurance
Procedures and start
awareness activities
4
Make CPEs more effective

by introducing online CPE
programs.
Start pilot online CPE

Program
Prepare/update CPE
Materials and make CPE
practical based upon
need assessment of the
members.
Review current CPE
requirement as per
international standards.
16
Performance
Indicators
Create database of audit

universe and update it
periodically.
Prepare TOR to collect

audit universe and
assigned the job
Update database
Continue Updating
database
Year 1: Job
assigned.
Year 2& 3:
Availability of data
Members
Dept.
Create database of member

mapping and update it
periodically.
Develop templates
to collect members
information and start
collecting the data.
Update periodically
Update periodically
Year 1: Job
assigned.
Year 2& 3:
Availability of data
Members
Dept.
Provide technical and

logistic assistance to the
new members entering into
practice.
Organize an interaction
program targeting the
new members on starting
professional career and
the support they need
from the institute.
Continue to support
the young members to
enter in to practice.
Continue to support
the young members
to enter in to
practice.
Increase in
number of new
practitioners.
Members
Dept.
SN
Objectives of
Action Plan
Activity Schedule
Responsible
Authority
F/Y 2014-15
F/Y 2015-16
Introduce and conduct post

qualification courses to
the members in different
specialized areas.
Identify the area of post

qualification courses and
conduct post qualification
courses like: ISA,
International Taxation and
IFRS.
Continue to conduct
the ISA, International
Taxation and IFRS
Courses and start other
courses.
Continue to
conduct different
post qualification
courses.
Number of
Courses launched;
Conduct research in the

areas of accounting,
assurance, taxation, finance
and business management
in collaboration with
universities and educational
institutions for the benefit of
members and students.
Prepare and Finalization

the TOR and to
establish the relations
with universities and
educational institutions.
Conduct the research

on the area of priority
basis
Continue to
conduct research
on different related
area
Year 1: Work
assigned
10
Prepare and issue

guidelines on various
pertinent issues of the
profession.
Prepare and issue at least

one guideline on NGO
sector and review and
update existing guidelines
of cooperatives and
educational sector.
Prepare and issue at

least one guideline
and review and update
existing guidelines of
VDC and Municipality
Audit.
Prepare and
issue at least one
guideline and
review and update
old guidelines on
need basis.
Number of
guidelines issued,
reviewed and
updated.
R& D
Committee
11
Assess the need and

conduct members' capacity
development training
programs targeting the
Registered Auditors.
Assess the need

and develop training
modules and materials
and conduct members'
capacity development
programs in various parts
of the country.
Continue to conduct
the members' capacity
development programs.
Continue to
conduct the
members' capacity
development
programs.
Need assessment
report;
Members
Dept.
12
Implement the approach of

one man one profession to
all the members.
Start implementation one

man one profession to RA
Members on phase wise
basis.
Continue to implement
one man one
profession to RA
Members on phase
wise basis.
Continue to
implement one man
one profession to
RA Members on
phase wise basis.
Approach of
one man one
profession is
implemented.
ED/ Member
Department
13
Organize domestic/
international seminars and
workshops on the issues
relating to accounting
profession;
Set out the program and

select the contemporary
topics including SAFA
and CAPA Activities and
conduct the programs
Continue year 1 activity
Continue year 1
activity
Number of
national and
international
events organized.
PDC
14
Conduct Review of Audit

firms as specified in IFAC
SMO part III through the
introduction of Audit Quality
Assurance Board.

Assurance Board and
develop review and
monitoring procedures of
practicing members and
the firms involved in audit.
Continue to review,
assess and monitor the
practicing member and
firms by AQA Board
through established
procedures.
Continue to review,
assess and monitor
the practicing
member and firms
by AQA Board
through established
procedures.
Number of
AQA Review
conducted.
AQA Board
15
Carry out trainings to raise

awareness on importance
of AQA Review and to work
on the capacity building of
AQA Board.
Conduct training for

AQA Team and carry out
AQA Review. AQA Board
shall replace Peer review
Board and Monitoring
Committee.
Continue to work on
capacity buildings of
AQA Board.
Continue to work on
capacity buildings
of AQA Board.
Number of
reviewer trained;
Number of audit
firms reviewed.
AQA Board/
Council
16
Develop audit tools for

compliance testing of
NFRS, NSA, Bank Audit
including Branch Audit and
Tax Audit etc.
Include these issues in

the TOR of AQA Board
and review the status of
development of tools.
Continue reviewing the

status.
Continue reviewing
the status.
Number of audit
tools developed
and put into
practice.
Monitoring
Committee/
Council/
Monitoring
Cell
F/Y 2016-17
Performance
Indicators
Members
Dept.
Numbers of
members
benefitted.
R&D
Committee
Year 2 and
3: Report of
Research
Number of
programs
conducted
and members
benefitted.
17
SN
Objectives of
Action Plan
Activity Schedule
F/Y 2014-15
F/Y 2015-16
Responsible
Authority
17
Develop interactive IT
mode for reply to queries of
members and students.
Constitution of replying
team, and reply to the
queries in consultation
with the relevant
department/committee.
Continue to reply
to the queries in
consultation with the
relevant department/
committee.
Continue to reply
to the queries
in consultation
with the relevant
department
/committee.
Number of queries
received/replied
Assigned
team
18
Online submission and

status tracking of various
forms.
Add and test this features

in ERP.
Implement the features.
Monitor the
implementation for
its efficiency and
effectiveness.
Year 1: System
developed
Year 2 and 3:
Number of forms
submitted.
ED
19
Introduce e-payment
system for membership
renewals and other
payments.
Organize interaction
program and find out the
possibility of e-payment
system.
Start implementation of
e-payment.
Continue to
implementation of
e-payment.
e-payment system
implemented.
IT
Committee
20
Encourage networking
amongst students and
members in the areas
of professional interest
through common social
networking platforms.
Develop the system and

propagate its advantage
to the students and
members.
Implement the system

for the benefit of the
students and members.
Continue year 2
activity.
year 1: System
developed
Year 2and 3:
Members and
students feedback.
ED
21
Respond to need of the

members at the distress
time for their support.
Introduce the concept

of Benevolent Fund by
drafting regulation for its
operation;
Implement contribution
to benevolent fund;
Implement indemnity
insurance.
Implement
contribution to
benevolent fund;
Implement
indemnity
insurance.
Number of
members
contributing in
benevolent fund;
Number of
members
participating
in professional
indemnity
insurance.
Executive
Committee
Implement the up
gradation system.
Continue year 2
activity.
Year 1: Review
completed
Year2 and
3: Number
of members
upgraded.
Members Dept
Introduce the concept

of indemnity insurance
coverage for professional
risk and make regulation
for its operation.
22
18
F/Y 2016-17
Performance
Indicators
Effective implementation of
up gradation system of RA
member.
Review the status of

members eligibility for up
gradation.
Domain 3: Members and Accounting Profession: Market Development

Strategy: Promote and maintain the pre-eminence of the Accounting Profession so that services
of Accounting Professionals are sought in all the areas in private/corporate and public/
government sectors where Accounting Professionals can provide value added services and
all the senior financial positions and advisory roles are filled by Accounting Professionals
SN
Objectives of
Action Plan
Activity Schedule
F/Y 2015-16
F/Y 2016-17
To activate co-ordination
committee formed for
branch audit and ensure
the issue Directives by
NRB to make a legal base
for mandatory provision of
bank branch audit;
Develop guidelines for

bank branch audit and
initiate training on it;
Continue training
and conduction of
bank branch audit;
Year1: NRB directive

issued
Year 2 and3: Number
of branch audited
ED
Collaborate with Ministry

of Federal Affairs and
Local Development and
Ministry of Education in
respect of accounting
and auditing of local
bodies and educational
institutions
Prepare a concept paper

to explore areas for
improvement in accounting
and auditing of local bodies
and educational institution;
Sign MOU with the

concerned ministries.
Implementation of
MOU
Year 1: Concept
paper developed;
Year2: MOU signed;
Year3: MOU
Implemented;
ED
Coordinate with Ministry

of Finance, IRD and DOC
to make revenue audit
mandatory;
Prepare the concept paper

and arrange meetings
with the Secretary, Joint
Secretary of MOF, DGs of
IRD and DOC to discuss on
the agenda.
Monitor revenue
audit with close
coordination with
MOF, IRD and DOC;
Year 1: MOU
Year2: Number
of trainings and
members benefited
Year3: Number of
revenue audit.
ED
Initiate IFRS
implementation.
Initiate IFRS
implementation.
Monitor IFRS
implementation.
Monitor IFRS
implementation.
Successful
implementation of
IFRS as per schedule.
Continue training and

development
Continue training and

development
Monitor and review

the implementation of
networking of firms;
Continue to monitor
and review the
implementation of
Number of firms under Council

network;
Members
Department
Continue to float the

concept and make
necessary follow
up until the concept
is agreed on and
institutionalized.
Year 1: Concept paper

prepared and agreed
upon
Year 2 and 3: Number
of CAs employed in
listed company and
its comparison with
previous year
Collaborate with NRB to

make the bank branch
audit mandatory;
Implementation of IFRS/
NFRS on phased manner;
Initiate bank branch

audit;
Provide training to the

members for the audit
of local bodies;
Initiate dialogue with

ministries;
Arrange practical training

to the stakeholders of the
supply chain.
Initiate IFRS
implementation.
Responsible
Authority
F/Y 2014-15
Make necessary follow

up on the process and
mutually agree on a
concept.
4
Performance
Indicators
Coordinate with MOF

for engaging the
members for revenue
audit and sign a MOU;
Prepare training
materials for revenue
audit and provide
training to the members;
Introduce regulation
regarding networking
of firms ( other than
partnership) to expand
the horizon of practice
and to seize the business
opportunity with the motto
of growing together
Formulate the regulation of

networking of the firms;
Coordinate with Security

Board to mandatorily
employ at least one
chartered accountant in the
position of chief finance
officer, financial controller
by listed companies.
Develop concept paper and Continue to float the

discuss with the authorities concept and make
in the Security Board;
necessary follow
up until the concept
Make necessary follow
is agreed on and
up on the process and
institutionalized.
mutually agree on a
concept;
Implementation of
IFRS Committee
Vice President/
Gov Nominee
Council Members
19
SN
Objectives of
Action Plan
Activity Schedule
F/Y 2014-15
Encourage members
to establish formal
relationship with
international accounting/
consultancy firms to
promote professional
excellence;
Make members friendly

rules to regulate and
promote international
affiliations/ networking.
Explore the potential

market abroad for the
members of ICAN in
the area of accounting,
auditing and consultancy
services;
Make an arrangement
to link Vacancy/
Procurement sites of
different organizations
including that of UN with
ICAN website;
Promote scope of
accounting profession
in Nepal at the forum of
SAFA, CAPA and IFAC
to attract international
affiliations/ networking;
F/Y 2015-16
F/Y 2016-17
Continue to promote
scope of accounting
profession in Nepal
at the forum of SAFA,
CAPA and IFAC to
attract international
affiliations/
networking;
Continue to
promote scope
of accounting
profession in Nepal
at the forum of
SAFA, CAPA and
IFAC to attract
international
affiliations/
networking;
Year 1: Rules
prepared
Year 2 and 3:
Number of programs
in which scope
of profession
promoted.
Continue activity of
year 1
Continue activity of
year 1
Number of members
going abroad for
service.
Initiate to establish
country wise chapter
of ICAN Members.
Initiate to establish
country wise
chapter of ICAN
Members..
Carry out programs

to raise members
credibility and
awareness.
Introduce college
placement system.
Carry out
programs to
raise members
credibility and
awareness.
Introduce college
placement system.
Number of CAs
employed through
college placement
.
Develop system to keep

in touch with members
working abroad to get the
information on market for
the members;
9
Coordinate with the

potential employers of the
Chartered Accountants
and advice them to offer
appropriate position for
longer retention.
Carry out programs to

raise members credibility
and awareness.
Undertake research
projects for government
and industry in the
emerging domain to
find out new avenues of
professional services for
the members.
Discuss with agencies

of the government and
industry to determine
the domain of research
to find out emerging
avenues of professional
services for the
members;
Carry out research

to find out the
emerging avenues of
professional services
for the members;
Disseminate
the findings of
research and
frame action for
its implementation
to find out the
emerging avenues
of professional
services;
Number of research
projects completed
and implemented.
11
Explore and widen scope

of professional services
to bring the entire gamut
of the financial services
within the fold of the
accounting professionals.
Motivate members
to pursue additional
career development
courses and conduct
trainings for professional
development.
Continue to motivate
members to pursue
additional career
development courses
and conduct trainings
for professional
development.
Continue to
motivate members
to pursue
additional career
development
courses and
conduct trainings
for professional
development.
Numbers of
members
participated in
career development
courses.
12
Propagate awareness
among stakeholders
towards accounting
profession.
Organize corporate summit

targeting corporate,
government agencies
with an objective to raise
awareness on accounting
profession.
Organize corporate
summit targeting
corporate, government
agencies with an
objective to raise
awareness on
accounting profession.
Organize corporate
Number of events
summit targeting
organized
corporate,
government agencies
with an objective
to raise awareness
on accounting
profession.
10
20
Performance
Indicators
Introduce college
placement system.
Responsible
Authority
President / Vice
president
Members
Department
Members
Department
R&D
Committee
Members
Department
Members
Department
Domain 4: Students
Strategy: Enhance, promote and protect ICAN Brand and stimulate the students to the accounting
profession and impart world class education, training and professional development
opportunities to create global professionals
SN
Objectives of
Action Plan
Activity Schedule
F/Y 2014-15
F/Y 2015-16
F/Y 2016-17
Performance
Indicators
Responsible
Authority
Increase the reach of

Career Counseling
All 5 development regions
All 5 development
regions
All 5 development
regions
Career counseling
organized in each
region;
Growth in students
enrolment
Y1 >1200
Y2>1500
Y3 > 1800
Education
Department
Encourage students to
participate in students
exchange programs
and conferences and
encourage foreign
students to visit
ICAN for knowledge
sharing, discussion and
experience;
Organize International CA
students conference
Participate in
International CA
students conference
Participate in
International CA
students conference
CA students
conference
organized;
Education
Department
Grant Scholarship to the

deserving students.
Increase scholarship fund

and provide scholarship
to students from
undeveloped areas and
under privileged ethnic
groups;
Continue to increase
scholarship fund and
provide to students
from undeveloped
areas and under
privileged ethnic
groups;
Continue to increase
scholarship fund and
provide to students
from undeveloped
areas and under
privileged ethnic
groups;
Scholarship
amount increased
and number of
scholarship to
deserving students
increased;
Education
Department
Develop online systems

for admissions, exam
result etc.
Implementation of ERP
system
Monitoring of the
system for its effective
implementation
Monitoring of
the system for
its effective
implementation
ERP system
implemented;
IT committee
Develop and implement

IT system to emphasize
on anyplace and anytime
learning
Develop e-learning
concept with live classes
Launch e-learning
concept with live
classes
E-learning
is effectively
implemented
Education
Dept. and IT
committee
Participation
in international
programs by the
students;
Develop and launch the

website as e-library and
allow free access to
students and members
Monitor the
effectiveness of
e-library;
Update e-library
Grant accreditation to
colleges/ institutes from
all over the country to
provide tuition classes as
well to act as a liaison/
contact point for ICAN.
5 colleges from outside

the valley
5 colleges from outside

the valley covering 5
regions
Upon need based

assessment
Number of
accreditation
granted;
Education
Committee
Develop a system for

addressing students
need, grievances and
monitor tuition centers;
Develop a system to
address students' needs
and grievances;
Ongoing program
Ongoing program
Establishment of
system and its
proper functioning.
Education
Department
21
SN
22
Objectives of
Action Plan
Activity Schedule
F/Y 2014-15
F/Y 2015-16
F/Y 2016-17
Performance
Indicators
Responsible
Authority
Increase the number of

trainees that can be kept
by principal and promote
the concept of industrial
trainee.
Upon need based

assessment
Upon need based

assessment
Upon need based

assessment
All the students

requiring training
get the opportunity
Council
Revise syllabus
periodically as per
international norms and
requirements.
Implementation on
ongoing basis;
Ongoing process
Ongoing process
Syllabus revised
and updated
to meet the
requirement.
Education
Committee
10
Revise the study material

of CAP I,CAP II and CAP III
Ongoing process
Ongoing process
Ongoing process
Materials revised
as per syllabus.
Education
Committee
11
Publish suggested
answers immediately
upon announcement of
exam results.
Publish within 1 week from Ongoing process

the publication of results
along with examiners
technical comment in each
and every question
Ongoing process
Suggested answers
published on time;
Education
Dept.
12
Publish revision test papers

at least two months before
the examination for all levels
and also clarify as regard
to the applicable laws and
their amendments, NFRSs,
NSAs etc.
Publish revision test

papers two months
before final exams
Ongoing process
Ongoing process
Revision test
papers published
on time
Education
Dept.
13
Conduct crash course on

major subjects regularly
for CAP II and CAP
III students and such
that the crash courses
are completed at least
1 month before the
commencement of the
examination
Amend the existing

modality of conducting
crash course to cover
specific topics with
a special focus on
examination;
Ongoing process
Ongoing process
Crash courses
conducted on time.
Education
Dept.
14
Conduct refreshment
class for all level of
students at free of cost to
share exam techniques
and time management in
CA examinations;
Run one day refreshment

class for all level of
students at least 15 days
before examination;
Run one day

refreshment class for
all level of students at
least 15 days before
examination;
Run one day

refreshment class
for all level of
students at least
15 days before
examination;
Run one day

refreshment class
for all level of
students at least
15 days before
examination;
Education
Department
15
Carry out IT Training for

the students effectively
through the enlisted
computer institutes within
and outside the valley
and monitor the training
institutes;
Develop syllabus for

revised module one
module for CAP II and
one Module for CAP III
and implement it.
Monitor the
implementation of the
GMCS program;
Update the modality

and training modules
where necessary;
GMCS Program
conducted and
survey report
on students
satisfaction;
Education
Dept.
16
Review the outcome of

the GMCS programs
and revise the content to
meet the contemporary
need and carry out this
program effectively.
Initiate to conduct GMCS

training jointly with
business school;
Revise the syllabus

where necessary and
develop the study
materials incorporating
case studies and more
practical oriented
learning including
requirement of
submitting project
paper before obtaining
membership;
Implement the new

scheme of learning
with case studies
and more practical
oriented subjects
Syllabus revised
and implemented;
Research
Committee
and Education
Committee
SN
Objectives of
Action Plan
Activity Schedule
F/Y 2014-15
F/Y 2015-16
F/Y 2016-17
Performance
Indicators
Responsible
Authority
17
Review of the scheme

of education to make it
more contemporary and
compatible with foreign
accounting institutes
to address the need of
the domestic and global
market by introducing
practical oriented learning;
Carry out study to find the

areas of improvement;
Revise the syllabus

where necessary and
develop the study
materials incorporating
practical oriented
learning including
requirement of
submitting project
paper before obtaining
membership;
Implement the new

scheme of learning
with case studies
and more practical
oriented subjects
Syllabus revised
and implemented;
Research
Committee
and Education
Committee
18
Devise effective
monitoring and reporting
system of students
under practical training
by introducing quality
inspection team;
Develop a training
guideline to be followed
by principal and students
during practical training;
Ongoing program
Ongoing program
Faculty
development
program organized;
Effective and
committed resource
base in place;
Education
Committee
19
Widen resource base

for education and
examination by including
more qualitative
professionals and
academicians as resource
persons and organizing
faculty development
programs for resource
persons for examination
and education.
Organize 2 faculty
development programs
for the resource persons
of all subjects;
Ongoing process
Make necessary
revision in the policy.
Revised policy
Education and
Examination
Committee
20
Motivate the resource

persons by providing
adequate compensation
and benefits;
Revise the existing

honorarium to incorporate
attractive reward and
recognition;
Assess the result of

the monitoring process
and modify the system
based on the feedback;
Training and
monitoring
guidelines
developed;
Education Dept.
Education
Committee
21
Encourage Industrial
Training making the
Industrial Training at the
choice of the Students;
Prepare the database of

undertakings qualifying to
recruit industrial training;
Run AT program as per

international parlance
as a sustainable
profession;

as a sustainable
profession;
AT Regulation
is changed as
per international
parlance;
AT Board/
Council
22
AT - Ensure that AT
Program is run as per
Make necessary decision

and change the regulation
as per international
parlance;

as a sustainable
profession;
Run AT program
as per international
parlance as
a sustainable
profession;
AT Regulation
is changed as
per international
parlance;
AT Board/
Council
23
AT - Revise syllabus
and study materials
periodically as per
international norms and
requirements;
Revise syllabus and

develop study materials,
Ongoing process
Ongoing process
Syllabus and study

materials revised
and updated
to meet the
requirement.
AT Board/
Education
Committee
23
Domain 5: International Relations and Global Positioning

Strategy: Leverage global opportunities by harmonizing with the international education and
technical standards so as to broadening reach and influence of the ICAN members in
other countries and to support development of the accounting profession through MOU/
MRA with foreign Professional Accounting Organizations
S
N
Objectives of
Action Plan
Create a unit or focal

point to handle matters
related to international
relationship and to
maintain institutional
memory of the
international events;
Activity Schedule
F/Y 2014-15
Strengthen the
presence of the ICAN
in the international
arena to play an active
role in international
policy decisions;
F/Y 2016-17
Define focal point

along with role and
responsibilities.
Strengthen the
system of institutional
memory.
Continue to strengthen
the system of
institutional memory.
Maintain record of
international programs,
and participants and
maintain institutional
memory of the
international events
including uploading it in
the website;
Arrange meeting with

the mission of the
development partners
for exchange of
mutual cooperation;
Continue meeting with

the mission of the
for exchange of mutual
cooperation;
Develop criteria for

proposing appropriate
candidates for
representation
in the Board and
Committees of
SAFA,CAPA and IFAC
where ICAN has
an opportunity to
represent;
To propose appropriate
candidates based on
approved criteria for
representation in the
Board and Committees
of SAFA,CAPA and
IFAC where ICAN has
an opportunity to
represent;
Nomination criteria
developed;
Presence of ICAN
in international
arena is active and
meaningful;
Council
Ensure prior preparation

amongst participants
before participation in
the international events
to ensure strong and
meaningful participation.
Demonstrate the capacity
to honor the commitments
made in the international
forum.
24
Responsible
Authority
F/Y 2015-16
Prepare database and

establish relationship with
the potential development
partners working in Nepal.
2
Performance
Indicators
A focal point
is established
with system of
maintaining database
of the international
relations and global
positioning;
Council/ ED
Number of
meeting held
with development
partners;
Explore collaborative
arrangement for
technical and financial
cooperation in
specific domain with
international agencies;
Initiate regular
correspondence, meeting
and interaction with
international agencies
like WB, ADB, NORAD,
EU, DFID, IMF, USAID etc
and convenience them in
securing seek support for
institutional development
of ICAN.
Continue to seek
support from
with written proposal
for institutional
development of ICAN.
Continue to seek
support from
for institutional
development of ICAN.
Number of meetings
held;
Number of MOU/
agreement signed;
Number of proposal
submitted and
support materialized.
President/ VicePresident
Promote members
exchange programs
for knowledge transfer
among CA Institutes
within and outside the
region.
Initiate members exchange

program/ exposure visit
once a year in any country
of SAFA region.
Continue members
exchange program/
exposure visit once a
year in any country in
CAPA region.
Continue members
exchange program/
exposure visit once a
year in any country in
SAFA or CAPA region.
Number of members
participating in the
exchange program;
Council/
Members
Department
Visit report;
S
N
Objectives of
Action Plan
Participate and host

international programs
periodically;
Activity Schedule
F/Y 2014-15
Performance
Indicators
F/Y 2015-16
F/Y 2016-17
Host minimum one

international program in
a year and participate in
hosted by IFAC, CAPA
and SAFA and other
international accounting
bodies.
Host minimum
one international
program in a year
and participate
in international
programs hosted by
IFAC, CAPA and SAFA
and other international
accounting bodies.
Host minimum
one international
program in a year
and participate in
hosted by IFAC,
CAPA and SAFA and
other international
accounting bodies.
Number of
international
events hosted and
participated;
Responsible
Authority
Council
Participation report
submitted;
Harmonize with
international standards
and implement IFRS/
NFRS on phased
manner as per the
commitments with
IFAC;
Implementation as
prescribed in the
implementation schedule;
Implementation as
prescribed in the
implementation
schedule;
Implementation as
prescribed in the
implementation
schedule;
Implementation as
per schedule;
IFRS
Committee/
Council
Harmonize with
international standards
and implement all the
commitments made
with IFAC including
Code of Ethics, One
person one profession,
education system and
CPE;
As per SMO of IFAC.
As per SMO of IFAC.
As per SMO of IFAC.
Implementation as
per the commitment
made to IFAC.
Council
MOU/ MRA with

foreign accounting
bodies
MRA/MOU with at least

one accounting body
within or outside region.
MRA/MOU with at
least one accounting
body within or outside
region.
MRA/MOU with at
least one accounting
body within or outside
region.
Number of MOU and

MRA signed with
foreign PAOs.
Education
department/
focal point
Maintain the database

of ICAN members
working abroad
and use them as
ambassador for
increasing international
relationship
Preparation of the data

base and benchmark
the possible usage of
members working or
residing abroad;
Continue to update
the data base and
benchmark the
possible usage of
members working or
residing abroad.
Continue to update
the data base and
benchmark the
possible usage of
members working or
residing abroad.
Database of
members working
or residing abroad
prepared and
updated.
Council/
Members
department
Establish at least one

foreign chapter
Establish at least one

foreign chapter
Form a working group to

study and devise plan and
procedure to establish
foreign chapter;
Foreign Chapter
established.
25
Domain 6: Leadership and Influence

Strategy: Develop strategic relationships with stakeholders in government and the corporate sector
as a partnering process for nation building to ensure that national strategic goal and the
marketplace duly value the pre-eminence of the accounting profession
S
N
Objectives of
Action Plan
26
Activity Schedule
Performance
Indicators
F/Y 2014-15
F/Y 2015-16
F/Y 2016-17
Develop cordial and

standing relationship
with the government
and increase the role of
ICAN and its members in
the various initiatives of
Government where CA
can provide value added
services
Discuss/ Coordinate with

Finance Secretary for
providing inputs of ICAN
during National budget
preparation;
Actively participate
and provide input
preparation;
Actively participate
and provide input
preparation;
Year 1-
Promote constructive
coordination and
collaboration with
other regulatory
bodies like OAGN,
SEBON, NRB, IB, ROC,
and Department of
Cooperatives.
Partnership arrangement
with regulatory bodies
to strengthening their
capacity in the area of
financial management
and internal control
system;
Partnership
arrangement with
regulatory bodies
to strengthen their
capacity in the area of
financial management
and internal control
system;
Partnership
arrangement with
regulatory bodies
to strengthening
their capacity in
area of financial
management and
internal control
system;
Number of
partnership
arrangement with
regulatory bodies
Actively participate and

provide input during
Discuss/ Coordinate
preparation of mid-term
with National Planning
Commission for providing and annual plan;
inputs during preparation
Liaise with PEFA
of midterm and annual
secretariat office to
plan;
participate/ engage
during PEFA assessment
Liaise with PEFA
of Nepal and other
secretariat office to
participate/ engage during fiduciary assessment
conducted by other
PEFA assessment of
ministries;
Nepal
Participation on
regulatory bodies
advisory committee
to provide strategic
guidance
Participation on
regulatory bodies
advisory committee
guidance
Create conducive
environment for the
Senior Members to
be represented in the
Council
Establish legal basis for

creating an environment
by carrying out
necessary amendment
in the Act or in
regulation;
Implementation of the
amendment
Support the
government with
constructive
suggestions towards
the formulation and the
revision of legislation
with regards to
industry, commerce,
PFM etc for the larger
interest of the people
and country;
Participate on
formulation/ revision
of policies and rules
related to commerce,
trade, accounting and
revenue ( including tax
and VAT)
Participate on
revenue ( including tax
and VAT)
Number of discussion
held with Government;
Responsible
Authority
President, Vice
President,
Council, CEO
Year 2 and 3Actively participate and

Number of advisory
provide input during
support/ services
preparation of midterm and annual plan; provide to Government
agencies
Liaise with PEFA
Number of participation
secretariat office
in Government
to participate/
initiatives and
engage during PEFA
meetings.
assessment of Nepal
and other fiduciary
assessment conducted
by other ministries;
Participation on
regulatory bodies
advisory committee
guidance
Participate on
revenue ( including
tax and VAT)
President, Vice
President, CEO
Number of advisory
services provided to
regulatory bodies
Number of
participation
Change in Act/
regulation;
Senior member's
representation in
Council;
Council
/Executive
Director
Number of expert
opinion provided to
Government offices
President, Vice
President, CEO
S
N
Objectives of
Action Plan
Activity Schedule
Performance
Indicators
Responsible
Authority
Protocol Officer
F/Y 2014-15
F/Y 2015-16
F/Y 2016-17
Collaborate with
Government to draw
synergy in enhancing
accountability and
transparency including
public service
delivery and supply
chain management
mechanism for
upholding national and
public interest.
Establish protocol/
reporting point with
OAG, MOF, NPC, IRD,
FCGO to collaborate and
participate on service
delivery mechanism
Discuss, update
progress to the counter
part of the concerned
Government agencies
Discuss, update
progress to the
counter part of
the concerned
Government agencies
Communication plan
developed
Establish a public
relation cell with spoke
person to inform the
developments of ICAN
to common people and
to promote relationship
with various
stakeholders including
government agencies;
Establish public relation

cell to receive the input
from various stake
holder,
Establish public
relation cell to receive
the input from various
stake holder,
Update ICAN activities
and presence through
social networking sites.
Number of services
provided through
the cell
Number of update
on social networking
sites;
Council
Update ICAN activities

and presence through
social networking sites.
Establish public
relation cell to
receive the input
from various stake
holder,
Mandate President,
Vice-president and
Spokesperson to
express institutes
opinion on various
issues.
Council to appoint a
spokesperson.
Number of opinion,
interview expressed
or aired or telecasted
or published
Council
Number of
communication point
established
Issue independent
opinion on relevant
laws including income
tax, VAT, NRB directive,
monitoring policies
and procurement act &
rules etc.
Update ICAN
activities and
presence through
social networking
sites.
Spoke
person
Spoke
person
27
Domain 7: Institutional Development and Sustainability

Strategy: Ensure organizational effectiveness through appropriate structure, resources and
process reengineering so as to enable ICAN to pursue sustainable professional
excellence initiatives
S
N
Objectives of
Action Plan
Activity Schedule
F/Y 2015-16
F/Y 2016-17
Restructuring of the
existing organizational
structure and
management system;
To carry out O&M study,

revise and approve the new
organizational structure and
implement;
Review new system for

its improvement where
necessary;
Continue to review
the new system for its
improvement where
necessary.
ICAN operates
efficiently and
effectively.
Council, EC
ED
Update and avail

logistics and
infrastructure needed to
carry out administrative
and technical operation
effectively from the new
premises.
Complete interiors with

modern facilities of the new
building;
Review the operations

from the new premises
for its improvement
for smooth functioning
where necessary;
Continue to review the

operations from the
new premises for its
improvement for smooth
functioning where
necessary.
ICAN operates
from new building
efficiently and
effectively.
Council, EC
ED
Strengthen the
institutional mechanism
to further enhance the
robustness of existing
systems.
Revision of Existing Financial

Bylaws and Operational
Bylaws.
Review new institutional

mechanism for its
improvement where
necessary.
Continue to review new

institutional mechanism
for its improvement
where necessary.
Bylaws are
Council, EC
appropriately
ED
amended;
Appropriate JD
Issued to each staff;
Provide sufficient logistics;
Assign authority, responsibility

and accountability to each
employee with appropriate job
description (JD);
Committees' roles
and responsibilities
defined;
Committee report to
the council;
Create ICAN think-tank by

inviting seniors;
Establishment of Board
of Studies to enable
ICAN to impart effective
training and education
to its students;
To establish board of studies

with a minimum tenure of 3
years and initiate process to
make it a standing committee.
To establish and make
functional the subject
committees and units for
Core Subjects.
To establish and make

functional the required
number of subject
committees and units
for all subjects.
Continue to monitor
the functioning of BOS,
subject committees
and units for its
improvement;
BOS established and Council/ BOS

subject committees
made functional;
Final implementation
of ERP and review its
effectiveness.
Continue upgrading E
Library resources
E-governance is
implemented;
IT Committee
Review the functioning

of branches and liaison;
Branches
established and
liaison offices
nominated;.
Council, EC, ED
Monitor the functioning

of BOS for its
improvement;
Introduce e-governance Introduce ERP;

to render better
Initiate for E Library System
services.
Develop IT infrastructure for
Web conferencing;
Test Implementation of
ERP and preliminary
review.
Promote branch
Establish branch at Nepalgunj
expansion and operation and Dhangadi;
to make them more
Develop TOR and functional
functional and effective;
modality of the branches.
Develop branch MIS

system;
Develop modality to
designate local members or
organizations as liaison office
of ICAN on a trial basis;
28
Responsible
Authority
F/Y 2014-15
Define required committees

under council with clear cut
roles and responsibilities.
Performance
Indicators
Develop and implement

E Library
Review the functioning Increase the number of

of branches and liaison; liaison office if found
effective and needful;
Increase the number of
liaison office if found
effective and needful;
S
N
Objectives of
Action Plan
Develop a process
oriented culture backed
by Standard Operating
Procedures to drive
timely and visible
quality response to the
members, students and
other stakeholders.
Activity Schedule
F/Y 2014-15
Review existing operating
procedure;
Carry out staff training

and publish SOP;
Identify other core business

areas and prepare and
document SOP accordingly;
Implement SOP;
Develop HR Plan;
Focus on employees
motivation, training and Review HR policy covering
recruitment, training and
skill development;
development, promotion and
Implement best HR
retirement;
practices to attract new
talents and to motivate Develop performance based
incentive system;
employees to develop
best human resource
Training and capacity
base.
development including
international exposure;
Broaden the avenues
of revenue generation
of ICAN;
F/Y 2015-16
Introduce force leave

system with travel
concession facilities;
F/Y 2016-17
Review the effectiveness SOP is in place and

of SOP;
implemented;
Periodic salary
survey and for proper
compensation;
Implement performance Training and capacity

based incentive
international exposure
program;
Training and capacity
international exposure;
Performance
Indicators
Review effectiveness of
HR Policy and Practices
including PBIS for its
improvement where
necessary;
Lobby with the government to Introduce minimum

increase budgetary support. credit hour classes
at each level in the
Lobby with development
Institute.
partners and other private
Lobby with government,
sector organization to get
support for ICAN for its
and other private sector
institutional development.
organization to get
Intensive courses for the
support for ICAN for its
students.
institutional development.
Broaden the horizon of expert
Broaden the horizon of
advisory services through
expert advisory services
ICAN
through ICAN
Develop tailor-made training
Organize tailor-made
program on Accounting,
training program on
Auditing and Taxation
Accounting, Auditing
focusing on the need of the
and Taxation as per the
industry.
need of the industry
IT certification and
related training to the
members.
HR Plan and Policy

developed;
PBIS developed and
implemented;
Training and
exposure visit
provided;
Staff productivity
enhanced and staff
are motivated;
Responsible
Authority
EC, ED and
Department
Heads
Council, EC, ED
Avenues for revenue Council, PDC

generation of ICAN
broadened;
Lobby with government, Revenue increased;

and other private
sector organization to
get support for ICAN
for its institutional
development.
Broaden the horizon of
expert advisory services
through ICAN
Continue training
program.
10
Promote multidisciplinary partnership

and limited liability
partnership in the
accounting profession
Introduce concept among

the members and initiate
interaction;
Lobby with the Government
for promulgation of LLP Act
Propose change in
Act and regulation of
ICAN to implement this
concept;
Promote the concept;
Concept accepted
and materialized;
Act amended;
Council
11
Periodical review of
the membership and
student fee;
Review where necessary.
Review where
necessary.
Review where
necessary.
Reasonable fee
is received from
members and
students.
Council
12
Recognition of
members engaged in
Professional Services
of ICAN
Formal gathering of the

members engaged in
Professional Service of ICAN
Continue gathering
Continue gathering and
and Introduce system
felicitation program
to felicitate members
engaged in Professional
Service of ICAN.
Members feel
ownership on ICAN
and get recognized;
Council, PDC
13
Review and
modernization of
ICAN council election
process,
Form a committee for

Study the possibility
necessary amendment in
of electronic voting
election procedures of council system;
members and consider the
recommendation;
Test the electronic voting ICAN Council

Council /EC
system;
Member Election
Procedure . Develop
credible and and fair
election process;
E-voting system is
introduced
29
Chapter IV
IMPLEMENTATION AND MONITORING
The designated responsible authorities specified in each activity under each domain shall be responsible for its implementation. The
activities designated to each year shall be incorporated in the Annual Work Plan (AWP) which shall be translated into monthly work
schedule and approved by the Council. The Executive Director shall submit the compliance report in each Council as regard to the
implementation of the activities due to be implemented on or before the date of the Council. In case of the non-implementation of the
activities incorporated in the monthly work schedule or noncompliance of the previous directives of the Council, the Council shall take the
exception to it and issue necessary directives to the responsible persons as specified in the Strategic Plan or take appropriate remedial
measures
30
Newly constructed building of ICAN
31
Opening ceremony of ICAN building on July 13, 2014 with Rt. Honorable President Dr. Ram Baran Yadav
Branch Office Biratnagar

Basundhara Complex, Roadcess Chowk
Biratnagar
Tel: 021-471395
Email:icanbrt@ican.org.np
Branch Office Butwal
Rajmarga Chauraha
United Finance Building, Ground Floor
Tel: 071-543629
Email: icanbtl@ican.org.np
"Purity of mind and clarity of wisdom"
The Institute of Chartered Accountants of Nepal

Head Office: Babar Mahal, Kathmandu
Post Box No.: 5289
Tel.: 4269130, 4258569, 2030021
Fax: 4258568
Email: info@ican.org.np
Website: http://www.ican.org.np
Branch Office Birgunj

Ghariarba Pokhari - 13, Adarsha Nagar
Birgunj
Tel: 051-522660
E-mail: icanbrj@ican.org.np
Branch Office Pokhara
New Road, Sabhagriha Chowk
Pokhara - 8
Tel: 061-537679
E-mail: icanpkr@ican.org.np
Branch Office Nepalgunj
Surkhet Road, Nepalgunj
Tel: 081-525916
32

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Striving for Excellence

"Purity of mind and clarity of wisdom"

Institute of Chartered Accountants of Nepal

The Institute of Chartered Accountants of Nepal

CA. Mahesh Kumar Guragain

CA. Narendra Bhattarai

CA. Madhu Bir Pande

CA. Achyut Raj Joshi

CA. Prakash Lamsal

CA. Jitendra Kumar Mishra

CA. Bhaskar Singh Lala

CA. Nirajan Simkhada

CA. Suresh Devkota

CA. Tek Nath Acharya

RA. Badri Prasad Bhattarai

RA. Dol Prasad Dahal

RA. Mohan Kumar Parajuli

RA. Mohan Kumar Subedi

Mr. Guna Raj Shrestha

Mr. Krishna Prasad Devkota

Mr. Jaya Dev Shrestha

CA. Binay Prakash Shrestha

Chairman Research and Development Committee

Research and Development Committee

Strategic Domains and Key Strategies

1. Public and Government

2. Members and Accounting Profession: Ethics and Capacity Development

3. Members and Accounting Profession: Market Development

5. International Relations and Global Positioning

6. Leadership and Influence

7. Institutional Development and Sustainability

Implementation and Monitoring

Institute of Chartered Accountants of Nepal Strategic Plan 2014/15 2016/17

Message from the President..

CA. Mahesh Kumar Guragain

Institute of Chartered Accountants of Nepal Strategic Plan 2014/15 2016/17

Message from the Chairman, Research and

CA. Narendra Bhattarai

Institute of Chartered Accountants of Nepal Strategic Plan 2014/15 2016/17

CA. Narendra Bhattarai

CA. Jagadish Agrawal

CA. Suraj Basnet

CA. Binod Kumar Lamsal

CA. Ganesh Parajuli

RA. Ramjee Adhikari

RA. Jaya Kumari Jha

CA. Pushpendra Singh

Institute of Chartered Accountants of Nepal Strategic Plan 2014/15 2016/17

Amongst others the committee was given the responsibility to

Efforts of the Committee

Approval of Strategic Plan by the Council

ICAN Strategic Plan

Institute of Chartered Accountants of Nepal Strategic Plan 2014/15 2016/17

Establish ICAN as a Credible professional accounting body.

To play the role of regulatory body to encourage the

To enhance social recognition and faith in accounting

Institute of Chartered Accountants of Nepal Strategic Plan 2014/15 2016/17

STRATEGIC DOMAINS AND KEY STRATEGIES

Particulars of Strategic Domains

Public and Government

Members and Accounting Profession: Ethics and Capacity Development

Members and Accounting Profession: Market Development

International Relations and Global Positioning