The view from Krishna Prasad Dahal FCCA

I was born to a lower middle-class family in a suburban area of Kathmandu, Nepal. I started studying English at Grade 4 in a local government school and, through hard work, became the highest-achieving student. After completing a BSc at Tribhuvan University in Kathmandu, I moved to India to progress my career and become a qualified professional accountant.

I worked for a few years in Nepal after returning from India, but due to the ongoing conflict there, I moved to the UK. Here I started studying the ACCA Qualification with a London-based accountancy firm as an audit trainee, became a member in 2008, and obtained my auditing certificate a few years later.

Coming to a new country as an ACCA trainee was exciting but not without difficulties. Culture, lifestyle and affordability were all very different and it was hard to adjust. There were times when I felt hopeless, but hard work and my cheerful disposition helped me overcome the obstacles, and I am proud of what I have achieved.

I have more than 20 years of experience in audit, advisory, tax and accountancy services. I have worked with clients in a great many business sectors, both in the UK and globally. Since 2013, I have been running the audit practice of a firm that offers accountancy, audit and tax services.

Over the years emerging technologies have brought change in almost every sector. Legislative changes and the catalytic effects of Covid-19 have challenged every sector including audit. Globally there has been tighter scrutiny of auditor independence, and of audit scope and quality. The financial reporting environment has also changed significantly.

Technology has also enabled auditors become more effective and efficient, and provide better insight to clients. Digital transformation of the practice has enabled us to progress and develop skills faster. We are able to work with a wider range of clients from various sectors – from micro entities to large companies – handling jobs, meeting deadlines and managing resources while upholding our professional ethics core principle.

A major challenge we face is recruiting and retaining skilled employees. Finding employees who are technically strong and technologically-adept is the other major challenge. Ensuring they have regular training to keep up to date with changes in legislation and cloud-based accounting software when time is scarce and the workforce dispersed is the next challenge, but leads to greater efficiencies in the practice. Managing wellbeing is also a major challenge, but I enjoy working in our multicultural digitalised practice.

I am actively involved in ACCA’s regional network, and I enjoy mentoring and supporting accounting students, affiliates and members. I also work as an advocate for impoverished and disadvantaged people in Nepalese villages. I am involved in charity and support for affordability in education, health and other basic needs.