Independent assurance that stands up to scrutiny — from boards, regulators, lenders, and investors.
Audit and assurance is the core of Shankar Associates’ practice. We work with listed companies, regulated entities, donor-funded projects, and growing private businesses across Nepal, delivering audits that go beyond compliance to surface real insight on controls, risk, and performance. As a member of the Praxity Global Alliance, our work aligns local expertise with international audit standards.
Statutory Audit
Annual statutory audits required under the Companies Act and sector-specific regulation. We deliver independent verification of financial statements with reports tailored for boards, shareholders, regulators, and lenders, alongside management insights to strengthen internal controls.
- Independent verification of financial statements under NFRS
- Compliance reviews against Nepalese law and sector regulation
- Reports for boards, shareholders, and regulatory filings
- Management letter insights on controls and process improvement
Internal Audit & Risk Assessment
Risk-based internal audit programmes that go beyond ticking boxes. We help boards and audit committees identify the controls and processes that matter, assess operational and compliance risk, and build governance frameworks that actually get used.
- Risk-based internal audit planning and execution
- Internal control evaluation and gap analysis
- Fraud risk reviews and forensic procedures
- Audit committee reporting and ongoing advisory
Financial Reporting & Due Diligence
Reliable financial reporting and rigorous due diligence are the foundation of every investment decision, merger, and lender relationship. We prepare financial statements under NFRS and IFRS, run buy-side and sell-side due diligence, and advise on reporting systems and disclosures.
- NFRS and IFRS financial statement preparation
- Independent reviews and assurance reports
- Buy-side and sell-side due diligence for acquisitions, mergers, and investments
- Advisory on reporting systems, disclosures, and accounting policy
Special Purpose Audits
Specialised audits tailored to specific compliance, contractual, or operational requirements. We handle agreed-upon procedures, forensic investigations, donor and grant audits, and sector-specific assurance work where standard statutory audit isn’t the right fit.
- Agreed-upon procedures for specific transactions or balances
- Forensic audits and fraud investigations
- Donor-funded project audits for INGOs, multilateral agencies, and NGOs
- Sector-specific reporting and regulatory certifications