Industry Sector
Banking and Capital Markets
Audit, compliance, and advisory support for banks and capital markets.
Overview & Core Services
Who We Are & How We Help
We help banks and capital market players meet reporting standards, strengthen controls, and manage risk with confidence.
Regulatory Audit
Clear audits that meet banking regulations.
Risk and Compliance
Support for risk controls and compliance checks.
VALUE
Creation
Methodology
Creating Value For Your Business
We align audit insights with governance so leaders can act faster and investors can trust results.
Improved capital confidence
Stronger risk controls
The URPCA Advantage
Why Choose URP?
01
Banking-grade rigor
Methods designed for regulated financial institutions.
02
Market-ready reporting
Clear disclosures that meet investor expectations.
Insights
Sector Publications
Beyond Compliance: Transforming Audits into Strategic Business Insights
A financial audit shouldn't just be a regulatory checkbox. When executed correctly, an audit acts as a diagnostic tool that uncovers hidden operational inefficiencies...
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Restructuring for Resilience: Why Mid-Market Firms Need Fractional CFOs
Scaling a mid-market enterprise requires financial strategy that goes beyond basic bookkeeping. Discover how Fractional CFOs are providing high-level financial leadership without the full-time...
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The Future of Tax Compliance in Nepal: Navigating the 2026 Shift
As Nepal's regulatory frameworks evolve, businesses must adapt their financial reporting to align with the new digital taxation policies. Here is what you need...
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Frequently Asked Questions
Statutory audit under the BAFIA 2073 and Companies Act 2063, conducted by an ICAN-registered firm meeting NRB's auditor eligibility criteria. The audit covers financial statements prepared under NFRS, regulatory returns submitted to NRB, capital adequacy computation, classification and provisioning of loans, AML/CFT controls, and IT general controls. The auditor must issue a long-form report addressing NRB-specified matters in addition to the statutory opinion.
NFRS 9 requires forward-looking ECL provisioning across three stages: Stage 1 (12-month ECL for performing loans), Stage 2 (lifetime ECL for loans with significant increase in credit risk), and Stage 3 (lifetime ECL for credit-impaired loans). Banks must model probability of default, loss given default, and exposure at default — incorporating macroeconomic forward-looking information. NRB has issued guidance bridging NFRS 9 with prudential provisioning; banks maintain whichever is higher.
The Internal Capital Adequacy Assessment Process (ICAAP) is the bank's own forward-looking view of capital needed for all material risks — credit, market, operational, concentration, interest rate in banking book, strategic, reputational. NRB requires Class A banks to submit annual ICAAP documents. The process must be board-approved, supported by stress testing, and integrated with the bank's capital planning.
Yes. NRB directives require periodic rotation of statutory auditors for BFIs — generally every 3 to 5 years depending on institution class. Cooling-off periods apply before re-appointment. U.R.P. & Associates structures engagements with this rotation cycle in mind, ensuring continuity through team-level handover when audit firm changes are required.
Capital market participants are regulated by SEBON under the Securities Act 2063. Audits cover client funds segregation, settlement obligations, capital adequacy under SEBON requirements, transaction reporting accuracy, and compliance with SEBON's market conduct regulations. Brokers additionally face CDS Clearing rules and NEPSE membership requirements. The audit working papers differ materially from standard corporate audits.
Yes — though only in advisory capacity if we are not the statutory auditor of the same period. Pre-inspection readiness reviews, response drafting for NRB findings, and management action plan development are common engagements. If we are the statutory auditor, independence rules limit us to clarifying audit work performed, not advising on responses.