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Features or Characteristics of New Accounting System
The following are the basic features of New Accounting System:

i. Based on double entry system of book keeping : New accounting system is
based on double entry system of book keeping where every financial transaction
has two aspects that is debit and credit. So, it is modern and scientific in nature.
ii. Uniformity and simplicity : New Accounting System brought uniformity in
accounting all over the country. Besides this, it is simple and easy to understand.
iii. Flexibility : New Accounting System is very flexible in nature. As per the
demand of transactions and with the pace of time, it can be adjusted.
iv. Emphasis on banking transactions : It is based on banking transactions. Every
government office should deposit all revenues into bank and payments should
be made through cheque except petty cash expenses.
v. Based on budget head : The New Accounting System has classified budgets
into different headings for making expenditure of public funds. This provides
the clear guideline to keep the expenditure within budget limit.
vi. Compulsory auditing : In New Accounting System, there is a compulsory
system of audit. It helps to prevent the misuse of government revenues and its
properties.
vii. Use of brackets : Another unique feature of new accounting system is use of
brackets. Mainly bracket is used in budget sheet and bank cash book to show
the amount to be credited and to be deducted.

Office of Auditor General
The Office of the Auditor General of Nepal was established on 2016/03/15 B.S. [29
June, 1959 A.D.] after the appointment of Auditor General pursuant to the then
Constitution.
The Office of the Auditor General (OAG) was established with the appointment of the
first Auditor General as per the Constitution of Nepal, 1958. Prior to establishment
of OAG, the institution named Kumari Chowk Adda used to review the government
accounts. It is assumed that Kumari Chowk was established in the year 1769 with the
aim of strengthening administrative system after the unification of Nepal. It is also
anticipated that there was also existence of audit institution prior to unification.

According to the Constitution of Nepal, on the recommendation of the Constitutional
Council, the President appoints the Auditor General. The functions, duties and
powers of the Auditor General are specified in the part -22, of the Constitution of
Nepal - 2072.

Office of Finance Comptroller General

Financial Comptroller General Office (FCGO) is the main government agency
responsible for the treasury operation of Government of Nepal. This office is under

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