DFK Member Partner, Prakash Jung Thapa, Appointed Vice-Chair of AOSSG

As Immediate Past Chair of the Board of the Accounting Standards Board of Nepal (ASB Nepal), Mr. Thapa was nominated for the Vice-Chair position and subsequently approved by the Government of Nepal. Following the completion of his two-year term as Vice-Chair, he will assume the role of Chair.

The Asian-Oceanian Standard-Setters Group (AOSSG) is a forum of accounting standard-setters across the Asian-Oceanian region. The group facilitates discussion and the sharing of experiences on the adoption of International Financial Reporting Standards (IFRS) and contributes to the development of a high-quality set of global accounting standards. AOSSG currently comprises 31 member countries. Its vision is to promote high-quality financial reporting that serves stakeholders’ public interest requirements for transparency, accountability, and efficiency.

The Accounting Standards Board of Nepal noted the following in its press release:

“This appointment is a significant milestone for Nepal, highlighting country’s influence and leadership on the international stage. Mr. Thapa is a Fellow Chartered Accountant with over 30 years of experience in accounting and auditing profession, policy reform, and regulatory oversight and his previous roles include Immediate Past Chair of ASB Nepal and Past President and Founder of The Institute of Chartered Accountants of Nepal (ICAN). This appointment is both a recognition of Nepal’s growing leadership in the international financial and sustainability reporting community and a strong acknowledgment of the contribution made by Mr. Thapa. Mr. Thapa is committed to continuing the regional cooperation, supporting emerging and developing economies, and working with member jurisdictions to advance global accounting and sustainability reporting standards.

AOSSG is a prestigious regional group of accounting standard-setters. The Vice-Chair leads the regional coordination of standard-setting activities and represents member views internationally, including at various IFRS Foundation meetings. ASB Nepal is immensely proud of Mr. Thapa's appointment. His proven leadership and dedication will be invaluable to the AOSSG. This is a moment of pride for Nepal, affirming our continuous commitment to the international reporting standards. ASB Nepal reaffirms its continued commitment to the AOSSG’s shared vision and will remain actively engaged in its working groups, capacity-building efforts, and collaborative initiatives.”

Relevant experience and contributions to the profession

Mr. Thapa has over 30 years of experience in accounting, auditing, public financial management, regulatory oversight, and policy advisory in both Nepal and Australia. He is the Past President of The Institute of Chartered Accountants of Nepal (ICAN) and the Immediate Past Chair of ASB Nepal, reflecting his long-standing commitment to promoting high-quality financial reporting standards in Nepal. He is currently leading the development of Nepal Sustainability Reporting Standards (NSRS), aligned with IFRS S1 and IFRS S2, as Chair of the NSRS Committee formed by ASB Nepal. Over two decades, he has played a significant role in shaping Nepal’s financial reporting and auditing regulatory landscape through service in key institutional positions.

Mr. Thapa served as Chair and member of various ICAN Council Committees between 2003–2006 and 2015–2018, contributing to the strengthening of regulatory frameworks, improved compliance, and the modernisation of professional standards. He is a Fellow Member of The Institute of Chartered Accountants of India (ICAI) and a member of Chartered Accountants Australia and New Zealand (CAANZ), The Institute of Chartered Accountants in England and Wales (ICAEW), and the Chartered Institute of Public Finance and Accountancy (CIPFA).

He has also played a crucial role in regulatory oversight as a member of the Deposit and Credit Guarantee Fund, the Securities Board of Nepal, and the Advisory Council of the Office of the Auditor General of Nepal, consistently advocating for transparent and fair financial reporting within these jurisdictions. In addition, he served as a Board Member of the South Asian Federation of Accountants (SAFA) from 2017–2018.