Our Approach & Quality
Professional services that go beyond satisfying a statutory requirement, anchored in technical soundness, independence, and a quality management system built on ISQM.
Objective, evidence-led, free of conflict.
Our organizational philosophy rests on technical soundness and independence. We believe professional services should do more than satisfy a statutory requirement, so every engagement, from a complex NFRS implementation to a routine bookkeeping mandate, is approached with the same rigour: objective, evidence-led and free of conflict. Our work is delivered in compliance with ISA, NSA, NFRS, IFRS, IPSAS and the IESBA Code of Ethics, combining international best practice with a practical understanding of the Nepali regulatory environment so that our recommendations can actually be implemented.
Our Audit Methodology
Every audit engagement follows the same twelve stages, so the work is repeatable, reviewable and comparable across clients and years.
- 01Engagement Acceptance
- 02Planning and Risk Assessment
- 03Understanding Internal Controls
- 04Materiality Assessment
- 05Audit Strategy Development
- 06Fieldwork
- 07Analytical Review
- 08Evidence Evaluation
- 09Reporting
- 10Management Letter
- 11Client Debriefing
- 12Follow-up Support
Quality Management & Service Excellence
The firm follows a comprehensive quality management system based on the International Standard on Quality Management (ISQM). Every engagement, regardless of size, passes through the same controls: independence verification, risk assessment, technical consultation, documentation standards and engagement quality review, so that the opinion we issue is defensible and consistent.
Our Integrated Quality Framework
We align our internal processes with the International Standard on Quality Management (ISQM), the standards of the Institute of Chartered Accountants of Nepal (ICAN) and the IESBA Code of Ethics, supported by continuous professional development and ongoing quality monitoring.
Internal Review & Standardized Procedures
Every project, regardless of size, undergoes a structured internal review:
Independence Verification: Conflict and independence checks completed and documented before an engagement is accepted.
Engagement Quality Review: A reviewer independent of the engagement team assesses significant judgements and conclusions before the report is issued.
Technical Consultation: Mandatory consultation on complex accounting, auditing and tax matters before a position is finalized.
Documentation Standards: Working papers maintained to a standard that allows an experienced reviewer to re-perform the work.
Collaborative Quality Partnerships (Peer Review)
Details of the firm’s external quality control review and peer-review arrangements are being confirmed and will be published here. Where an engagement warrants it, we currently apply the following additional safeguards:
Continuous Professional Development: Ongoing technical training so engagement teams stay current with changes in standards and regulation.
Quality Monitoring: Periodic monitoring of completed engagements against the firm’s quality objectives.
Continuous Improvement: Findings from monitoring are fed back into methodology, templates and training.
Professional Ethics & Confidentiality
Quality at our firm is inseparable from ethics. We apply the IESBA Code of Ethics and the ethical requirements of ICAN, maintaining strict protocols on independence, objectivity and client confidentiality. Client information is protected with the utmost professionalism and is never disclosed without explicit authorization or a legal mandate.
Our commitments
Code of Ethics
We uphold the highest standards of professional integrity, applying the IESBA Code of Ethics together with the ethical requirements of the Institute of Chartered Accountants of Nepal (ICAN). Our professional conduct is grounded in five fundamental principles: integrity, objectivity, professional competence and due care, professional behaviour and confidentiality. Independence is verified and documented before every engagement is accepted, and client information is handled with complete discretion and is never disclosed without explicit authorization or a legal mandate.
Litigation History
The firm’s declaration regarding litigation and arbitration will be published here once confirmed. Sanjay Chaudhary & Associates remains dedicated to upholding the standards of professional conduct set out in the IESBA Code of Ethics and the requirements of ICAN.
Anti-Corruption Policy
The firm promotes transparency and accountability across all operations and applies fraud risk assessment and anti-fraud control design in its own engagements as well as its clients’. A formal policy statement aligned with the Prevention of Corruption Act, 2059 and the National Strategy and Action Plan Against Corruption is being finalized and will be published here.