Nepal Insurance Authority Performing DDA of A Dozen Insurance Companies

Kathmandu: The regulatory body Nepal Insurance Authority is going to conduct a detailed audit ‘DDA’ (Due Diligence Audit) under its rules to reveal the assets and liabilities of the insurance company. Since, the authority has to audit the assets and liabilities of the insurance company, the single transaction is to be audited, so the authority is going to conduct a DDA of the 12 identified insurance companies.

The authority has called insurance willing chartered accountancy firm for technical and financial proposal in order to audit those insurance companies who were identified in fiscal year 2023 A.D. for having DDA.

Assessing that the chartered accountant sought by the company itself will be biased, the authority appoints the firm and company to do the DDA on its own. Thus, the firm or company that invites the proposal at the cheapest rate gets the DDA responsibility.

For this, the committee authority has also prepared the necessary criteria.