Chartered Accountancy in Nepal FAQs (Everything you need to know about CA course in Nepal)

Here are some of the popular Frequently Asked Questions (FAQs) for Chartered Accountancy in Nepal

Probably there is no University in the world that regulates Chartered Accountancy education. For CA education, every country has its autonomous body established under the Act of Parliament. Few examples are Chartered Accountancy in Nepal is regulated by The Institute of Chartered Accountants of Nepal (ICAN) under ICAN Act 2053 for Nepal and Chartered accountancy in India is regulated by Institute of Chartered Accountants of India (ICAI) under ICAI Act 1949. Students have to get registered with the CA Board and can take private coaching classes or prepare for the exam themselves.

There are lots of resources available for Chartered Accountancy in Nepal. Books, Monthly CA journals, youtube videos from trusted sources, notes and guides from legitimate and promising websites are some of the major sources to get materials for Chartered Accountancy in Nepal. Also, there are many good coaching centres and institutes that provide quality coachings to help students grab each and everything from the syllabus of CA in Nepal. They not only provide the best coaching classes for CA students but also support students in every procedure including registration.

FAQs regarding chartered accountancy course in Nepal:

Who can study Chartered Accountancy? Can I study CA if I don’t have accountancy or management background?

ICAN: Students who have cleared or appeared in the final year of 10+2 or Intermediate level in any stream can study Chartered Accountancy in Nepal starting from CAP I. For details please see eligibility criteria in the official website of ICAN.

ICAI: Students who have cleared class 10 or higher education can study Chartered Accountancy starting from CPT level. (Students who have joined CPT level after passing class 10 have to study and appear in Higher Secondary Examination (10 + 2) before the CPT Examination. For details please contact us.

Why choose CA profession rather than others? What are the main attractions of Chartered Accountancy in Nepal?

There is no such profession which is superior or inferior if they care within the legal, moral and social frameworks of society and country. We can’t say that any profession is better or worse or can’t make comparisons between any profession by considering some factors.  But what generally matters in a profession is financial status and the status of quo in society he/she belongs to. Chartered Accountants as are well paid and respected in any area whether it is corporate or educational. This respect, higher status and high pay is due to the hard work one does to achieve to get CA license, the knowledge one gets during the study and training and the dedications one shows to complete the course. CA as a profession is a better door towards a secured and sophisticated career.

Where can we get CA education? What are best colleges in Nepal for Chartered Accountancy?

CA education can now be completed in Nepal itself. Coaching classes are available in many CA institutes and coaching centres of Kathmandu. There are some institutes for CA in Nepal outside Kathmandu too. But they are very few in number. However, students that are doing CA under ICAI should go to India for Articleship Training.

What are the dates of registration for Chartered Accountancy courses?

Registration for Chartered Accountancy in Nepal is open throughout the year. However, the examinations are held in June and December under ICAN. It is necessary that a student must be registered at least 6 months before the examination else they won’t get a chance to sit for the CA examination. (For attempting June exam students must get registered within November of the previous year and for attempting December exam students must get registered in ICAN within May). Under the Indian board ICAI, for CPT examinations of June and December, it is necessary that the student must register at least 60 days before the examination but for coaching classes and study materials students are requested to register 6 months in advance.

Is there any entrance test to get registration in CA course? How can I prepare to join for CA? Are there any bridge course providers for CA in Nepal?

There is no entrance test to get registration in CA course. 10+2 exam appeared students from any stream securing minimum pass marks can join Chartered Accountancy in Nepal. There is no need to do any preparation for joining the CA course except for mental preparation. Also, we would suggest students to have a discussion with CA teachers or seniors to know about the course. One to one interaction will always be great in any field and faculty. If you don’t have anyone to ask about or talk about it we are here for you. Write about queries and concerns we will contact with related authorities (teachers, students, finalists, CA members) to solve your concerns.

Also, these days you can find CA preparation classes run by CA instructors and members who help to get you a clear picture about the course and help you learn some very basic things so that you won’t get puzzled during your first days of CA studies.

How long the registration of CA remains valid in Nepal and India? Can I revalidate my registeration?

Under the Nepali CA board; ICAN: The CAP-I Registration will remain valid for 3 years and the registration of CAP-II will remain valid for 5 years. Students can do revalidate the registration. There is no time deadline to complete CAP-III level under ICAN.

Under the Indian CA board; ICAI: The CPT Registration remains valid for 3 years,  IPCC for 5 years and final for 5 years. Students can do revalidation before the expiry of initial registration.

What are the subjects of CA course? What is the syllabus of Chartered Accountancy in Nepal? Does the syllabus and course structure gets updated often?

CA subject covers all business and accountancy subjects with world emerging concepts. Also, there are finance, economics, mathematics, business management and related courses that revolve around accountancy. However, the maximum of the subject matter is Accountancy and Auditing.

Is there any provision of transfer between ICAN and ICAI students during studies? Can I move to ICAI after completing my intermediate level from ICAN board or vice versa?

No, there is no provision for transfer between ICAN and ICAI currently. If students wish to choose a different board then they have to start over on the new board.

Where are the examinations of Chartered Accountancy of Nepal held?

Under ICAN, the examination centre is at Brilliant Academy, Chabahil, Kathmandu. Under ICAI, the examination centre is at DAV School, Lalitpur and Central School of India, Lainchour.

Is it possible to do CA along with other college education?

Yes, and many students do that. Most of the students studying CA in Nepal actually get enrolled in the BBS program of TU. Few students choose to do BBA along-with Chartered accountancy as well. Students can do bachelor’s programs like BBS, BBA, BA etc. Students need not really attend colleges for BBS (Courses of CA cover the majority of the syllabus of BBS). However, they can take the regular classes of BBS if they can manage time. BBS in Government colleges (Shankardev campus, NCC campus) is has been the best choice for CA students to get academic degree alongside. For doing BBA with CA it is a bit difficult to manage college time.

It is really difficult to study CA? Can an average student complete the CA course in regular attempts?

This has been the first question that comes in the mind of students who think of joining CA course or dream of becoming a Chartered Accountant. CA requires great dedication and regular labour with books, pen and copy. Also, another important factor that leads to success is PASSION. With passion, dedication and hard work plus a little patience, any student can complete CA education.

Is there any scope for those who will not be able to complete CA for any reason? What if I give up in the middle? Will I get jobs if I complete the intermediate level only?

It seems that those who cannot complete CA will still have better future than general university degree holders because they have through practical education along with rigorous training of 3 years. Many such semi-qualified students are working with various organizations at different managerial levels. Many big companies of Nepal hire the audit trainees who have been in training under CAs because of the knowledge and practical experience they possess. In Nepal, there are many CA finalists who have not completed the finals level of CA in most senior positions of organisations.

Is the CA course recognized by TU? What is the current status of TU equivalency with Chartered Accountancy in Nepal?

Yes, Chartered Accountancy is completely recognized by Tribhuwan University. TU has given CA course with a bachelor degree in any discipline is equivalency to a Master’s Degree. To get a master’s equivalency, a student must complete a bachelor’s degree before completing the CA course. Also, the CA course completed after +2 is given as Bachelor’s equivalency.

Can we do PhD after completing CA?

Yes, after the completion of CA course, one can do PhD subject to recognition given by concerned universities.

Can CA work in foreign countries?

Yes, Chartered Accountants can work in foreign countries. If your intention is to move abroad after completing Chartered Accountancy, there is another great option; ACCA. Since most of the countries are adopting IFRS for financial reporting and accounting, ACCA has There could be restrictions for auditing in foreign countries because for that CAs have to be the member of concerned statutory auditing authority of respective countries. For example members of ICAI need to be a member of ICAN in order to get audit license in Nepal and vice versa. As from ICAI has all paper exception except 1 or 2 many countries of the world. ICAN is in process in this regard.

What is the role and scope of Chartered Accountants in the modern-day commercial world?

Chartered Accountants are the ones who verify (give their opinion) the fairness of the financial statements. Every business who crosses the threshold of a transaction must audit their financial statements. So, Chartered Accountants are the most important figures in the financial and economic sector of any country. Apart from the statutory audit, Chartered Accountants occupy the prominent role of higher-level executives in leading business organizations. Members of this profession play a dominant role in accounting, taxation and auditing areas of the country. The presence of CAs in the top management level of various well-known banks, financial institutions and government offices of Nepal also signifies the importance and the weight of CA education.

Opportunities for financial and other various sectors for chartered Accountants are as follows:

1. Private Sector Job (eg: manufacturing companies, trading businesses, private telecommunications and private tax consultancies)
2. Public Sector Job
3. Government Departments Job (Eg: Governmental banks, Governmental offices, Nepal Telecom, NEA etc)
4. Audit (Statutory Audit, Internal Audit and Tax Audit etc.)
5. Certification Work, Property valuation
6. Management Consultancy Services
7. Certified Liquidator
8. Accounting Job (Finance manager, Chief Accountant)
9. Banking, Financial Institutions, Insurance Companies
10. Corporate Management
11. Political appointment at senior level
12. Investigations or Forensic Accounting
13. Teachers and Professors in CA institutes and colleges. Can compete for government lecturers position too.

What is articleship Training?

Under ICAN: After the completion of Intermediate (CAP-II) level, students are required to join articleship (Internship under CA)  training for 3 years under a practising Chartered Accountant member. But the students admitted to CAP-II Level from Bachelor Degree may join Articleship Training after completing 1st group of CAP-II Level. Students will get some prescribed amount of stipend during the training period. The minimum amount of stipend is set out by ICAN. Currently, the amount is Rs. 3000 in 1^st year, Rs. 4000 in 2^nd year and Rs. 5000 in 3^rd year.

Under ICAI: A student who is registered for both groups of integrated Professional Competence Course and has passed Group I of IPCC can join 3 years of internship under a Practicing Chartered Accountant. But the students admitted to IPCC Level from Bachelor Degree may join Articleship Training Imidate registration in IPCC. Students will get some prescribed amount of stipend during the training period.

What is Hall & Postal Test Scheme?

For appearing in the final examinations of CAP-I, CAP-II & CAP-III level, students are required to pass the pre-test exams (Hall/Postal) within the prescribed period by the ICAN. Minimum pass marks for the test is 40%.

What is Information Technology Training? when should I take Information Technology Training? I already have Technical knowledge so can I get an exemption for this training?

Under the Nepali Board; ICAN

Information Technology Practical Training of 100 hours.

• before joining articleship training 60 hours &
• before CAP-III examination 40 hours

Under the Indian Board; ICAI

Information Technology Training of 100 hours.

• Complete before joining articleship training.

Do you have any questions not covered by our FAQs for Chartered Accountancy in Nepal? You can post them in the comment box below and we will include them in the list of CA FAQs.