Our Professional Services

Accurate, Transparent, and Tailored Financial & Statutory Solutions for Businesses Across Nepal

What We Offer

Comprehensive Financial & Statutory Solutions

At L.C. Associates, we provide end-to-end financial solutions designed to keep your business fully compliant with Nepalese legal standards. From statutory external audits and corporate tax planning to bookkeeping and company registration, our team delivers high-precision support so you can focus on core growth.

1. External Audit

Statutory & Independent Financial Verification

Independent statutory financial examination ensuring that your financial statements present a true and fair view in compliance with Nepal Financial Reporting Standards (NFRS/NAS) and national tax regulations.

Key Benefits

Establishes full regulatory compliance with the IRD & CRO.
Enhances credibility among banks, investors, and stakeholders.
Identifies financial statement misstatements and risks.

Audit Process

1. Audit Planning & Risk Evaluation → 2. Sample Testing & Field Audit → 3. Internal Control Review → 4. Final Independent Auditor's Report.

2. Internal Audit

Operational Controls & Risk Prevention

Continuous and objective evaluation of your company's operational processes, risk management structures, and internal accounting controls to prevent financial leakage and administrative inefficiencies.

Key Benefits

Prevents occupational fraud, waste, and financial leakage.
Optimizes operational efficiency and internal governance.
Guarantees early warning for potential compliance issues.

Engagement Process

1. Control Scope Mapping → 2. Periodic Field Inspections → 3. Internal Finding Report → 4. Actionable Management Advice.

3. Tax Consultation

Corporate & Individual Tax Strategy

Expert corporate and individual tax advisory, Income Tax Return (ITR) filing, tax assessment representation, and strategic planning under the Income Tax Act of Nepal.

Key Benefits

Minimizes tax liabilities through legal exemptions and deductions.
Prevents severe tax penalties and interest fees.
Represents your firm during IRD tax assessments and audits.

Tax Workflow

1. Financial Record Review → 2. Tax Computation & Deductions → 3. IRD e-Filing → 4. Tax Clearance Certificate Acquisition.

4. Accounting Services

Bookkeeping & General Ledger Management

Complete double-entry accounting services, daily sales/expense bookkeeping, ledger reconciliation, and setup of modern cloud accounting software tailored to your company needs.

Key Benefits

Maintains neat, organized financial books 365 days a year.
Saves overhead costs compared to hiring full-time in-house accountants.
Provides clear monthly cash-flow reports for owners.

Service Process

1. Document Collection & Vouching → 2. Data Entry & Ledger Posting → 3. Monthly Bank Reconciliation → 4. Monthly Profit & Loss Reporting.

5. Financial Statement Preparation

NFRS & NAS Compliant Financial Reporting

Professional compiling of annual and periodic financial statements including Balance Sheets, Income Statements, Statement of Cash Flows, and Statement of Changes in Equity.

Key Benefits

Formatted professionally for bank loan applications & tender bids.
Fully meets NFRS for SMEs guidelines.
Provides accurate valuation insight during business sales or mergers.

Preparation Steps

1. Trial Balance Consolidation → 2. Depreciation & Accrual Adjustments → 3. Financial Statement Compilation → 4. Final Review.

6. VAT Registration & Return Filing

Value Added Tax Compliance & e-Filing

End-to-end guidance for registering your enterprise under VAT with the Inland Revenue Department, sales/purchase book maintenance, and monthly VAT return submissions.

Key Benefits

Avoids hefty non-filing fines from the Inland Revenue Office.
Proper claim and reconciliation of VAT input tax credits.
Complete assistance in purchasing and verifying sales books.

Monthly Filing Cycle

1. Sales & Purchase Book Audit → 2. VAT Calculation & Credit Adjustment → 3. IRD Portal e-Filing → 4. Payment Voucher Generation.

7. PAN Registration

Personal & Business Permanent Account Number Setup

Hassle-free application and paperwork submission to secure personal or business PAN certificates from tax offices across Rupandehi and surrounding districts.

Key Benefits

Essential prerequisite for opening corporate bank accounts.
Mandatory for issuing legal invoices and salary payments.
Fast, error-free processing with minimal physical hassle.

Step-by-Step

1. Document Collection & Verification → 2. IRD Portal Pre-Registration → 3. Verification & Biometrics → 4. PAN Card Issuance.

8. Payroll Management

Salary Processing, SSF & Income TDS Filing

Complete salary calculation services, Social Security Fund (SSF) management, Citizens Investment Trust (CIT) deductions, and monthly salary TDS return filings.

Key Benefits

Ensures strict adherence to Labour Act 2074 & SSF mandates.
Guaranteed payroll confidentiality and timely pay slip generation.
Eliminates manual calculation errors in withholding taxes.

Monthly Routine

1. Attendance & Overtime Capture → 2. Salary Computation & Tax Withholding → 3. Payslip Generation → 4. SSF & ETDS Deposit.

9. Company Registration & Business Setup

Incorporation at OCR, Ward Office & Cottage Industry

Comprehensive advisory and administrative service for new entity incorporation with the Office of Company Registrar (OCR), Department of Industry, and local Ward offices.

Key Benefits

Professional drafting of MOA (Prabandha Patra) and AOA (Niyamawali).
Swift approval without bureaucratic obstacles.
Turnkey solution covering OCR, Ward Office, and PAN/VAT.

Incorporation Flow

1. Company Name Reservation → 2. Document Drafting & Signing → 3. OCR Approval & Certificate → 4. Ward & Tax Registration.

10. Business Advisory & Risk Assessment

Strategic Financial Planning & Risk Mitigation

Strategic management consulting, capital restructuring, budgeting guidance, and comprehensive enterprise risk assessments for corporate expansion.

Key Benefits

Clear strategic insight for major capital investments and expansion.
Early detection of operational and financial vulnerabilities.
Data-driven financial modeling and profitability analysis.

Advisory Method

1. Financial Diagnostic & Strategy Session → 2. Feasibility Study & Risk Audit → 3. Strategic Report & Roadmap.

FAQ

Services FAQ

Questions Regarding Our Audit & Financial Consulting Services

How long does an annual external statutory audit take?

The audit duration depends on the volume of transactions and client documentation readiness. Typically, field audits for small to medium businesses are completed within 5 to 10 working days after receiving all financial vouchers.

Can L.C. Associates handle both our monthly VAT filings and annual audit?

Yes, we provide full-service annual accounting retainers that cover monthly VAT e-filing, withholding tax compliance, financial statement preparation, and annual tax returns under one package.

What are the requirements for company registration in Butwal?

You will need proposed company names, copies of promoter citizenship certificates, passport photos, lease contract details, and objectives. We manage the OCR and local Ward submissions completely.

Custom Solutions

Require Customized Financial or Auditing Services?

Reach out to L.C. Associates for a comprehensive financial evaluation and quotation tailored to your business.

Consult Our Auditor About Our Firm