The Need for a Management Accounting (CMA) Institute for Nation-Building
Advocate Ram Chandra Rupakheti, Kathmandu- One institution that Nepal’s economy needs today more than almost any other is a statutory body for Cost and Management Accounting (CMA). From India, Sri Lanka, Pakistan, and Bangladesh to the United Kingdom, the United States, and Australia, countries around the world established such institutions decades ago, using them to instill cost discipline and performance accountability across industry, public spending, and the service sector. Nepal has yet to take this path. Nepal’s economy today rests on remittances, imports, tourism, construction, agriculture, and hydropower. Yet problems such as project cost overruns, inefficiency in public expenditure,...
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