NFRS (Nepal Financial Reporting Standard) was issued by Nepal Accounting Standard Board in 2013. NFRS are issued in line with IFRS to maintain accounts of Nepal that are understandable and comparable with the Global business language. The rules to be followed by accountants to maintain books of accounts which is comparable, understandable, reliable and relevant as per the users internal or external.
Adoption of NFRS is not just change in format of financial statements but affects many aspects of the entity which include internal control system, risk management, selection of appropriate accounting policies and the reporting system. Hence, adoption and implementation of NFRS needs to be planned and managed properly. Our experienced team will help you from first time adoption to subsequent preparation of financial report. Our team will also advise and guide you in risk management policy, cash management in addition to the selection of accounting policies.