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.