KATHMANDU, May 13: Minister for Finance Yubaraj Khatiwada has urged chartered accountants to become accountable and responsible toward their profession.
Addressing ‘International Conference on Public-Sector Financial Management’ held in the capital on Saturday, Khatiwada said: “The chartered accountants must be ethical and financial disciplined, and transparency should be your priority in your profession.”
Khatiwada has also called for strengthening the public financial management system of the country for transparency, accountability and effectiveness in the use of public funds. He stated that the government was committed to improve Nepal’s public financial management system to enhance its quality, and to strengthen public sector accounting through the implementation of international standards.
The conference was organized jointly by the Institute of Chartered Accountants of Nepal (ICAN) and Public Expenditure and Financial Accountability (PEFA) secretariat in association with Confederation of Asian and Pacific Accountants (CAPA). Over 250 accounting professionals participated in the conference that was organized with the theme of ‘Public Sector Financial Management: Enhanced Accountability and Transparency’. The conference delegates discussed the ways to strengthen transparency, accountability and audit function in the public sector.
Khatiwada also pointed out lack of reform and uniformity as the key challenges in the public financial management system of the country. “In order to make the public financial management system more effective, we have to develop and utilize information technology, robust banking system, and capable human resource,” he added.
Speaking at the conference, Auditor General of Nepal Tanka Mani Sharma said that effective implementation of public financial management system will help in making the federal model successful in Nepal.