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Kathmandu, Nepal, January 31, 2023: Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel has directed the Rastriya Beema Sansthan (RBS) and Rastriya Beema Company Limited (RBCL), the state-owned insurance companies of the country, to complete their pending financial audit within three months.
As the two state-owned insurance companies have not done their financial audit since the fiscal year 2017/18, the Deputy Prime Minister and Finance Minister gave the directives by inviting all the officials concerned at the Ministry of Finance on Monday.
The companies have to submit their internal audit report to the Nepal Insurance Authority (NIA) within 60 days from the end of each quarter in every fiscal year. However, these two state-owned companies have turned deaf since a decade by ignoring the directives, rule of law and fundamental principal of the companies.
Likewise, the two companies have also ignored the orders issued time and again by the Office of the Auditor General (OAG), a constitutional body and the supreme audit institution of the country. However, the government had not taken action against the authorities of the company.
