Established under the Nepal Chartered Accountants Act 1997, the Institute of Chartered Accountants of Nepal (ICAN) is responsible for, but not limited to (i) determining initial professional and continuing professional development; (ii) conducting professional examinations; (iii) issuing Chartered Accountant Membership Certificates and Certificates of Practice; (iv) developing and maintaining a separate registry for each class of members; (v) operating an investigative and disciplinary system; (vi) ensuring compliance with accounting and auditing standards developed by the Accounting Standards Board and the Auditing Standards Board; (vii) issuing guidance; (vii) setting rules of professional conduct; (viii) establishing a Quality Assurance Board (QAB) to carry out QA reviews. Membership in ICAN is mandatory for all professional accountants in the jurisdiction. In addition to being a member of IFAC, ICAN is a member of the South Asian Federation of Accountants (SAFA) and the Confederation of Asian and Pacific Accountants (CAPA).