Kathmandu:Rastriya Bima Sansthan has scheduled to hold a general meeting for three fiscal years at a time. The organization is preparing to hold a general meeting on September 11. The general assembly of the Sansthan has not been held for the last 12 years.
The Insurance Board has approved the audit reports for the fiscal years 2066/67, 2067/68 and 2068/69. It was agreed to complete the audit of the three fiscal years in coordination among the Santhan, Insurance Board, Office of the Auditor General and the Ministry of Finance. The audit was delayed because some old accounts were not found and the records of the accounts were destroyed.
After repeated instructions from the Office of the Auditor General and the Ministry of Finance to settle accounts and conduct audits, the work was completed. Due to this, the way was paved for the completion of the audit in the presence of all the three bodies.
The Sansthan has completed the work of 2069/70, 2070/71, 2072/73 and 2073/74 internally.
The corporation will not have much problem in holding the general assembly for four more years after the general assembly of the previous three years.If the work is being done now, the Corporation is planning to hold the four-year general assembly this year.
And since the accounts after 2074/75 are complete, it will not be difficult for the Corporation to audit. The current general assembly only plans to pass the audit. After the completion of the audit for the last 12 years, the corporation is in favor of increasing the capital as specified by the Board.
Due to lack of audit, the organization has not been able to determine the bonus rate for the last 12 years. The financial institution that will complete the audit of the first three fiscal years will also finalize the bonus rate for the insured.