The regulatory agency of auditors has clearly stated that an auditor can not audit more than 10 firms or organizations in a year. The minimum fee for auditing listed banks and financial institutions have been fixed at Rs 100,000. Speaking at a program organized in Kathmandu on Thursday, ICAN President Narendra Bhattarai said minimum wage for auditing is important for the development of auditing profession and maintain accountability.Auditors had long been demanding the regulators set minimum fees, stating that unhealthy competition was affecting the auditing profession. The new fees will come into effect from the next fiscal year.
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