ICAN and Cooperative Regulatory Authority Join Forces to Strengthen Nepal’s Cooperative Sector
Summary
ICAN and the National Cooperative Regulatory Authority of Nepal have formed a strategic partnership to strengthen oversight, audits, and governance in Nepal's cooperative sector, aiming to safeguard members' savings and improve trust.
Key Points
- ICAN and the National Cooperative Regulatory Authority have formed a partnership to enhance regulation and supervision in Nepal's cooperative sector.
- The partnership aims to operationalize regulatory audits and prepare a joint roster of professional auditors.
- Both organizations emphasized the importance of safeguarding deposits and implementing Nepal Financial Reporting Standards (NFRS).
- Plans include formalizing the partnership with a Memorandum of Understanding and focusing on training auditors and cooperative personnel.
