August 26, 2021 | Investopaper
National level microfinance institutions have to prepare their financial statements in accordance with the Nepal Financial Reporting Standards (NFRS). Nepal Rastra Bank (NRB) on Wednesday amended and issued the integrated directive in the name of microfinance institutions.
Earlier, the microfinance companies had to prepare financial statements as per Nepal Accounting Standards (NAS). However, NRB has now given instructions to make it in accordance with NFRS. NRB says that the financial statements of 2079 BS should be prepared as per the NFRS system.