Does Prayaas & Associates support international accounting outsourcing?

Yes. Prayaas & Associates provides bookkeeping, financial reporting, accounting outsourcing, and fractional CFO support for businesses and advisory firms across global markets.

Who leads Prayaas & Associates?

The firm is led by CA Prayas Shrestha, a Chartered Accountant with dual ICAN and ICAI membership, DISA, LLB, and more than 15 years of post-qualification experience.

What services does the firm provide in Nepal?

The firm provides audit, taxation, advisory, NFRS and IFRS support, company formation, foreign investment advisory, payroll, Employer of Record, and accounting outsourcing services.

Technical Accounting 6 min read•2026-09-16

Navigating NFRS & IFRS for Foreign Subsidiaries in Nepal

Written by CA Prayas Shrestha (Managing Partner)

A strategic roadmap for global CFOs and accounting practices navigating local Nepal Financial Reporting Standards while maintaining IFRS consolidation requirements.

As global corporations expand operations into South Asia, accounting teams frequently face the complexity of dual reporting: statutory local compliance under Nepal Financial Reporting Standards (NFRS) alongside International Financial Reporting Standards (IFRS) or US GAAP for overseas parent companies. In this paper, CA Prayas Shrestha examines key divergence points including lease accounting (IFRS 16), impairment provisions (IFRS 9), and actuarial gratuity treatments under Nepal Labour Act 2074.

Authored by CA Prayas Shrestha

Managing Partner • Prayas & Associates

Dual Fellow Chartered Accountant (ICAN & ICAI), DISA certified, and LLB with 15+ years experience advising international entities on US GAAP, NFRS, and cross-border outsourcing.

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