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.
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 / Arbitration Declaration
Sanjay Chaudhary & Associates is committed to the highest standards of professional integrity, ethical conduct, and regulatory compliance. As of the date of publication, neither the firm nor its Principal is subject to any material litigation, arbitration, disciplinary proceeding, or regulatory action that could adversely affect the firm’s ability to provide professional services or fulfill its contractual obligations. Should any material matter arise in the future that may affect our professional independence, reputation, or service delivery, the firm is committed to making appropriate disclosures in accordance with applicable laws, professional standards, and ethical requirements. Our practice is conducted in compliance with the Nepal Chartered Accountants Act, the regulations of the Institute of Chartered Accountants of Nepal (ICAN), the International Ethics Standards Board for Accountants (IESBA) Code of Ethics, and all other applicable laws and professional standards.
Anti-Corruption Policy Statement
At Sanjay Chaudhary & Associates, we maintain a zero-tolerance approach to bribery, corruption, fraud, and all forms of unethical conduct. We are committed to conducting our business with honesty, integrity, transparency, and accountability in accordance with the highest standards of professional ethics. Our firm complies with The Prevention of Corruption Act, 2059 (2002), the Nepal Chartered Accountants Act, the ethical requirements of the Institute of Chartered Accountants of Nepal (ICAN), the International Ethics Standards Board for Accountants (IESBA) Code of Ethics, and other applicable laws and regulations. We prohibit the offering, promising, giving, soliciting, or accepting of any improper payment, gift, favor, or other advantage intended to influence professional judgment or obtain an undue business benefit. All partners, employees, consultants, and representatives of the firm are expected to uphold these principles in every engagement and business relationship.
To reinforce our commitment, the firm promotes:
- Ethical leadership and a strong culture of integrity
- Independence and objectivity in all professional engagements
- Effective internal controls and risk management practices
- Transparent financial reporting and accurate record-keeping
- Compliance with applicable laws, regulations, and professional standards
- Confidential reporting of suspected misconduct without fear of retaliation
- Regular awareness and professional ethics training for our personnel
Where corruption, fraud, or unethical conduct is suspected during the course of an engagement, we take appropriate action in accordance with applicable laws, professional standards, contractual obligations, and client governance requirements. We believe that maintaining the highest standards of integrity is fundamental to preserving public trust and delivering professional services that inspire confidence among our clients, regulators, development partners, and other stakeholders.