Indian company to conduct audit of 10 commercial banks

KATHMANDU, AUGUST 16: An Indian company has been selected to audit the 10 largest commercial banks in Nepal. Nepal Rastra Bank (NRB) issued a tender to audit these banks, and KPMG Assurance and Consulting Services LLP from India was chosen for the job.

In a notice released yesterday, the NRB stated that the audit firms were appointed to conduct external audits of the 10 commercial banks as per the conditions set by the International Monetary Fund (IMF).

The firms that applied included Deloitte Financial Advisory from the Netherlands, JV CSC & Co., JV SRBC & B.K. Agrawal, KPMG Assurance and Consulting Services is from India, and KPMG Taseer Hadi & Co. is from Pakistan. Among these, the Indian company was awarded the audit responsibility.