ICAN Launches Project to Boost Nepal’s Accounting Services, Create Jobs

The Institute of Chartered Accountants of Nepal (ICAN) on Wednesday  launched the Global Accounting Initiative in Nepal (GAIN), a project aimed at making the country’s accounting services internationally competitive and increasing income generation.

The initiative, unveiled at a programme in Kathmandu, seeks to position Nepal as a reliable outsourcing destination for accounting services, foster strategic partnerships, and create sustainable employment opportunities.

Under this project, ICAN aims to generate more than 50,000 jobs annually over the next five years, and over 150,000 jobs in ten years. The project is also expected to contribute around Rs 80 billion to the national economy through service exports.

The initiative will focus on developing regulatory and institutional frameworks for accounting outsourcing, establishing secure digital infrastructure, training professionals to meet international standards, and expanding high-quality service offerings. It also plans to promote innovation and entrepreneurship through outsourcing hubs, digital platforms, and incubation centres.

ICAN President Nil Bahadur Saru Magar said the project will become a regular programme starting next fiscal year.

“Countries such as India, Bangladesh, Vietnam, and the Philippines have a strong presence in the global accounting market. Nepal has the potential to compete internationally, but skills enhancement and clear policies are crucial,” he said.

As part of this project, ICAN plans to digitally promote Nepal’s accounting services in markets including the UK, Australia, the US, and the EU, produce high-quality promotional materials, and leverage collaborations with Nepali communities abroad. The project will also introduce internationally recognized accounting software, launch specialized certification programmes, develop a national talent registry, and strengthen outsourcing-focused academic curricula.

ICAN expects the initiative to encourage supportive policy measures, including tax exemptions, clear VAT guidelines, simplified foreign exchange procedures, stronger data protection laws, permission for Nepali firms to open overseas branches, and faster approvals for foreign investment. -- RSS