Kathmandu. Shikhar Insurance has become the first insurance company to publish its financial statements under the Financial Reporting Standard-17, Insurance Contract (NFRS-17).
Shikhar Insurance as per NFRS-17 in the current financial year 2082. The first quarter of FY83 has been prepared and published. Shikhar Insurance Company has become the first company in Nepal to implement the financial report standard issued by the Accounting Board of Nepal (NEB) from the current fiscal year.
The company has published the quarterly financial statement as per the directives related to financial statements issued by the Nepal Insurance Authority (NIA) along with the concise financial statement as per NFRS-17. According to the statement, the accompanying achievement marks a historic step towards transparency, good governance and adherence to global financial reporting standards and standards.
This achievement reflects Shikhar Insurance’s commitment to compliance with existing provisions and dedication to continuous improvement. The agreement also validates the readiness of insurance companies in Nepal towards a new era of insurance sector modernization, reliability and professional excellence, adopting global best practices.
