Pursuant to section 3(kha) of Nepal Chartered Accountants Act,1997, the main functions of the Board is to:
- Regulate and systematize auditing profession, formulation of auditing standards on the basis of international standards on auditing,
- Set procedures to develop auditing standards and publish materials related to auditing standards.
- Make Improvement and revision of auditing standards in line with International Standards on Auditing.
- Interpretation of auditing standards.
- Prepare guidance notes, and
- Facilitate application and publicity of Auditing standards.