Auditor General Toyam Raya has emphasized that Chartered Accountants (CAs) have a crucial role in helping Nepal exit the international anti-money laundering (AML/CFT) grey list.

Speaking at the swearing-in ceremony of the newly elected President and Vice President of the Institute of Chartered Accountants of Nepal (ICAN), Raya said coordinated efforts among all stakeholders are essential to remove Nepal from the grey list.

He noted that Nepal's inclusion on the grey list under the Financial Action Task Force (FATF) framework requires a collective response involving government agencies, regulators, professional bodies, and the private sector.

Raya said independent, transparent, and professional auditing by Chartered Accountants can significantly strengthen financial governance and support Nepal's efforts to meet international compliance standards.

He also urged auditors to identify and report financial irregularities, misconduct, and governance weaknesses with integrity and professionalism.

According to Raya, the Institute of Chartered Accountants of Nepal Act is no longer fully aligned with current needs, and the government plans to initiate amendments to modernize the legal framework.

During the event, Securities Board of Nepal (SEBON) Chairman Dr. Gopal Prasad Bhatta called on Chartered Accountants to conduct audits of banks, financial institutions, and both public and private companies with fairness, independence, and professional integrity.

Outgoing President CA Neel Bahadur Saru Magar highlighted the institution's achievements during his tenure before handing over the President's Medal to newly elected President CA Anand Raj Sharma Wagle.

In his remarks, CA Anand Raj Sharma Wagle pledged to further strengthen professionalism, transparency, and public confidence in Nepal's accounting profession.

Newly elected Vice President CA Hem Kumar Kafle also committed to making auditing practices more reliable, accountable, and effective.