Chapter – 10
Chapter – 10
Balance Sheet, Auditing and Report
89. Fiscal Year : The Fiscal year of the Bank shall be as per the Fiscal year of Government of Nepal.
90. Account System : The Bank shall maintain at all times accounts and records adequate to reflect its operations and financial condition in accordance with international accounting standards.
91. Annual Report :
(1) The Bank shall prepare an annual report for each fiscal year, which should include the balance sheet, profit and loss accounts and the particulars relating to it.
(2) The Bank shall submit the annual report referred to in Sub- section (1) to Government of Nepal within four months from the date of completion of each fiscal year.
92. Auditing :
(1) The Auditor General shall carry out auditing of the accounts of the Bank.
(2) The Board may, if it deems appropriate, cause the internal auditing of its accounts carried out by some external Auditor. While causing such auditing of accounts, it shall cause to be carried out in accordance with the account system of international practice.
93. Submission of Report to Government of Nepal :
(1) The Bank shall have to submit the following reports to Government of Nepal within four months from the date of completion of each fiscal year:-
(a) Auditing Report,
(b) Report on its activities of itself,
(c) Report on economic and financial position,
(2) The Bank shall publish its monthly balance sheet within fifteen days from date of completion of each month.
94. Report on Monetary Policy : The Bank shall publish the report on monetary policy each year for the information of general public. The said report to be published in such a manner shall contain the following matters:-
(a) Comprehensive review and evaluation of the monetary policy introduced and followed by the Bank in the preceding year;
(b) Justification and analysis of the monetary policy that the Bank is going to introduce in the following year:-
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