What are the additional disclosures a foreign company registered in Nepal has to include in its annual accounts as per the Company Act 2063

Auditing and Assurance Revision Questions and Answers

Answer
As per the Section 156 of the Company Act, a foreign company registered in Nepal has to make the following disclosures to be included in its annual accounts:
i) Detailed Statement of the company‟s assets in Nepal classified as Fixed, Current and Other Assets

ii) A Clear statement of the company‟s bank balances with banks resident in Nepal

iii) The details of loans and overdraft taken the company from the banks resident in Nepal

iv) Any outstanding loans or liabilities to be paid to a resident person or resident company registered in Nepal.



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