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    Minimum Audit Fee Guidelines

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    p99.subas
    The document outlines minimum audit fee guidelines established by the Institute of Chartered Accountants of Nepal. It provides daily rate ranges for audit partners, managers, and staff based on their level of experience. It also specifies minimum audit fees for different types and sizes of organizations, including listed public financial institutions, other listed and unlisted companies, cooperatives, and non-government/international development institutions based on factors like annual turnover, loans/deposits, or donations received. The fees range from NRs. 5,000 for accounting technicians to over NRs. 600,000 for large non-government institutions receiving over NRs. 50 crore in donations.

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    Minimum Audit Fee Guidelines

    Uploaded by

    p99.subas
    292 views2 pages
    The document outlines minimum audit fee guidelines established by the Institute of Chartered Accountants of Nepal. It provides daily rate ranges for audit partners, managers, and staff based on their level of experience. It also specifies minimum audit fees for different types and sizes of organizations, including listed public financial institutions, other listed and unlisted companies, cooperatives, and non-government/international development institutions based on factors like annual turnover, loans/deposits, or donations received. The fees range from NRs. 5,000 for accounting technicians to over NRs. 600,000 for large non-government institutions receiving over NRs. 50 crore in donations.

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    Minimum Audit Fee Guidelines (1)

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    The document outlines minimum audit fee guidelines established by the Institute of Chartered Accountants of Nepal. It provides daily rate ranges for audit partners, managers, and staff based on their level of experience. It also specifies minimum audit fees for different types and sizes of organizations, including listed public financial institutions, other listed and unlisted companies, cooperatives, and non-government/international development institutions based on factors like annual turnover, loans/deposits, or donations received. The fees range from NRs. 5,000 for accounting technicians to over NRs. 600,000 for large non-government institutions receiving over NRs. 50 crore in donations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    292 views2 pages

    Minimum Audit Fee Guidelines

    Uploaded by

    p99.subas
    The document outlines minimum audit fee guidelines established by the Institute of Chartered Accountants of Nepal. It provides daily rate ranges for audit partners, managers, and staff based on their level of experience. It also specifies minimum audit fees for different types and sizes of organizations, including listed public financial institutions, other listed and unlisted companies, cooperatives, and non-government/international development institutions based on factors like annual turnover, loans/deposits, or donations received. The fees range from NRs. 5,000 for accounting technicians to over NRs. 600,000 for large non-government institutions receiving over NRs. 50 crore in donations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    INSTITUTE OF CHARTERED ACCOUNTANTS OF NEPAL (ICAN)

    Minimum Audit Fee Guidelines (Applicable from 2078-04-01)

    Requirements for Professional Standards


    - Audit Firms shall design and implement audit manuals for ensuring that all the engagements are performed as per Technical and
    Professional standards
    - Audit Firms shall comply NSQC 1
    - Audit firm shall ensure that Firms has competence, capable and comitments staffs for engagement performance and to issue report on
    behalf of firm
    S.N Category Year of Experience Daily Rates (Rs)
    A CA (COP Holder)
    1 Partner/ Proprieter/ QC Reviewer >15 Years At least 30,000
    2 Partner/ Proprieter/ QC Reviewer 11-15 Years 20,000-29,000
    3 Partner/ Proprieter/ QC Reviewer 5-10 Years 15,000-19,000
    4 Partner/ Proprieter/ QC Reviewer/ Managers <5 Years 10,000-14,000
    RA (COP Holders)
    5 A Class 15,000.00
    6 B Class 10,000.00
    7 C Class 5,000.00
    Other Staff
    8 Semi Qualified With Minimum of 3 years' sexperience 3,000.00
    9 Trainees/ Support Staff 2,000.00

    Note:
    - Engagement fee shall be determined by multiplying estimated number of days with above per day rate.
    - The basis for calculation of audit fee is to be kept safely for Quality assurance review.

    For Listed Public Financial Institution


    S.N Loan and Deposits Minimum Audit Fee
    1 >100 Arab (1 Kharb) 25 Lakhs
    >50 Arab 20 lakhs
    >10 Arab 10 lakhs
    >5 arab 5 lakhs
    >1 Arab 3 lakhs
    Minimum 1 lakhs
    Note: Commercial bank ("A" Class) Not less than 10 lakhs

    Other listed and Unlisted Ltd. and Pvt Ltd or Other Institution
    Turnover
    Amount
    (RS) Other Listed and Public Institution minimum Audit Fee (Rs) Pvt ltd and Other Institution (Rs.)
    >50 Arab 2,000,000 1,500,000
    >10 Arab 1,000,000 800,000
    >5 Arab 500,000 400,000
    >1 Arab 300,000 250,000
    >60 Crore 200,000 150,000
    >15 Crore ( Not less then minimum fee )100000 100,000
    >2 Crore 100,000 40,000
    Note Listed Company Minimum audit fee not less than 1 lakhs
    If Turnover less than 2 Crore
    S.N Level Audit Fee (Rs)
    1 Accounting Technicial 5000
    2 "D" Class Member 5000
    3 "C" Class Member 10000
    4 "B" Class Member 15000
    5 CA Member 20000
    For Cooperatives
    S.N Loan and Deposits Minimum Audit Fee
    1 >5 Arab 500000
    2 >1 Arab 200000
    3 >60 Crore 100000
    4 >15 Crore 75000
    5 >5 Crore 50000
    6 >2 Core 25000
    If Turnover less than 2 Crore
    S.N Level Audit Fee (Rs)
    1 Accounting Technicial 5000
    2 "D" Class Member 5000
    3 "C" Class Member 10000
    4 "B" Class Member 15000
    5 CA Member 20000

    National and International Non-Government and International Development Institution


    S.N Donation and Other Received Amount (Rs) Minimum Audit Fee
    1 >50 Crore 600000
    2 40 Crore to 50 Crore 500000
    3 30 Crore to 40 Crore 400000
    4 20 Crore 30 Crore 300000
    5 10 Crore to 20 Crore 200000
    6 1 Crore to 10 Crore 100000
    7 Above 50 lakhs 50000

    Note: International Non-Government institution minimum audit fee not less than 1 lakhs
    Note:
    - Minimum audit fee guidelines is not applicable Private Limited Company, Proprietership firm,
    Partnership firm, cooperatives, Primary school with turnover less than 30 lacs,
    - The above minimum fee guidelines is also applicable for Internal audit also.

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