Transparency and good governance complement each other: President

Kathmandu, May 9: President Ramchandra Paudel has said that transparency and good governance complemented each other. He described the auditors who are carrying out their works in a justified manner as the nation’s economic watchdog.

Inaugurating the National Conference organised by the Association of Chartered Accountants of Nepal (ACAN) here today, the President said, “We have been able to take the clear accounts that have been possible due to the auditors active across the nation as an aspect of economic security.

It is the highest duty of the auditor to check the accounts remaining alert every moment. Not neglecting one’s duty while carrying out one’s work is justice. Therefore, the auditors who are carrying out their duty in a justified way are the economic watchdog of the nation.”

Stating that the vigilance of the auditors has contributed to maintaining transparency in the economic activities taking place in the country, the Head of State said the need and role of skilled and knowledgeable persons in chartered accountancy is vital to make the agencies concerned transparent and accountable.

“What a country looks at when it provides assistance to another country is the transparency in the expenditure and accounting system of that country. A credible environment in the economic development and revenue mobilization of a country is enhanced through this alone.

The prevention of fake bill and revenue evasion likely to be used in large-scale expenditures of development construction is possible through auditing alone,” the President asserted.

Minister for Agriculture and Livestock Development, Jwala Kumari Sah while lauding the role of the auditors underscored on a system of error-free auditing.

“The control of fake bills and revenue evasion, which are being used in the name of development and construction, has been made possible through auditing,” Minister Sah said, adding that ACAN has been contributing to the country’s financial good governance by means of auditing in this manner.

The new generation of Chartered Accountants should create public awareness about the importance of accounting in the economic development of the nation as well as the changing economic situation among the auditors, she stressed.

President of ACAN, Deepak Pandey, expressed his belief that the conference will help open the way out by debating the country’s economic crisis and its solutions.

He said, “In the first session, we are discussing about the problems that have been seen in Nepal’s economy and what is the solution. Similarly, we are having deeper discussions about the policy reform and development.”

ACAN honored noted ophthalmologist Dr Sanduk Ruit, Governor of Nepal Rastra Bank Maha Prasad Adhikari and President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal on the occasion.

It is said that economists, industrialists, bankers and policy makers will participate in discussions and debates about the country’s prosperity and economic development.