Auditor General Toyam Raya Highlights Challenges in Audit Due to Inconsistent Understanding of Economic Laws
Summary
Auditor General Toyam Raya says inconsistent interpretation of economic laws is making audits more difficult and creating confusion across institutions. He has called for long-delayed legal reforms, including updating the Chartered Accountants Act and introducing sunset law provisions.
Key Points
- Auditor General Toyam Raya said uneven understanding of economic laws and regulations is increasing audit challenges in Nepal.
- He urged timely amendments to outdated laws, including the Chartered Accountants Act, 2053 BS, and said new technology such as AI should be incorporated.
- Raya called for sunset law provisions so laws are reviewed or renewed after a fixed period.
- He also said remote districts like Humla and Taplejung face audit shortages and need more mid-level skilled manpower.
