Nepal Rastra Bank (NRB) has shortlisted five international auditing firms to audit the ten largest commercial banks in Nepal, in compliance with the conditions set forth by the International Monetary Fund (IMF). The IMF has mandated the auditing of loans provided by these banks as part of its approval for the USD 395.9 million ECF in 2022.

NRB invited international tenders for this purpose and has now selected the following firms for consideration: Deloitte Financial Advisory BV (Netherlands), KPMG Assurance and Consulting Services (Mumbai), KPMG Taseer Haldi & Co (Islamabad), a joint venture of Pricewaterhouse Coopers Pvt Ltd and CSC & Co, and another joint venture of SRBA & BK Agrawal. 

One firm among these will be chosen by the central bank to conduct the audits, which are scheduled to commence in June. The auditing of these commercial banks by international auditors aims to address concerns raised by the IMF regarding the quality of loans extended by Nepali banks, as per discussions held during the IMF mission in February 2022.