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Compliance Policy – Flair Financial Accounting

Compliance Policy1. Purpose2. Regulatory Frameworks We Follow3. Internal Compliance Controls4. Client Engagement Compliance5. Donor & NGO Compliance6. Breach Reporting & Mitigation7. Continuous Compliance Monitoring8. Contact Us

Compliance Policy

Effective Date: July 22, 2025

Website: https://flairfas.com

Flair Financial Accounting (“FlairFAS,” “we,” “our,” or “us”) upholds strict compliance with all applicable legal, financial, and professional standards. This policy outlines our approach to regulatory, contractual, and ethical compliance in service delivery and internal operations.

1. Purpose

This policy ensures that FlairFAS:

  • Complies with national and international financial laws
  • Aligns with donor, tax, and regulatory authority expectations
  • Fosters a proactive compliance culture
  • Minimizes legal, financial, and reputational risks

2. Regulatory Frameworks We Follow

FlairFAS complies with:

  • Nepal Rastra Bank regulations
  • Inland Revenue Department (IRD) tax and audit laws
  • Company Act, Labor Act, and SWC requirements (for NGOs)
  • International standards such as IFRS, GAAP, FATCA, AML/KYC, and GDPR
  • Donor and investor frameworks (e.g., DFID, USAID, ADB, UN agencies)

3. Internal Compliance Controls

To ensure internal compliance, we:

  • Maintain documented SOPs and service protocols
  • Conduct compliance risk assessments across all departments
  • Maintain logs, trails, and backups of financial engagements
  • Audit internal practices regularly through checklists and control reviews
  • Train employees annually on compliance-related policies and laws

4. Client Engagement Compliance

We ensure client-facing services are:

  • Aligned with relevant tax, labor, and corporate laws
  • Delivered using audit-ready documentation and formats
  • Supported with regulatory filing calendars, advisory memos, and checklists
  • Covered under clearly defined contracts or engagement letters

5. Donor & NGO Compliance

For NGO and INGO clients, FlairFAS supports:

  • SWC registration and reporting frameworks
  • Procurement and disbursement compliance aligned with donor policy
  • Audit preparation and documentation for mid-term reviews (MTRs) and impact evaluations
  • Transparency and traceability in fund use

6. Breach Reporting & Mitigation

In the event of a compliance breach:

  • The matter is escalated to our Compliance Officer
  • A full internal review is conducted
  • We notify relevant clients or authorities as required
  • Remediation measures are implemented immediately

7. Continuous Compliance Monitoring

We monitor:

  • Legal and regulatory updates in Nepal and international jurisdictions
  • Donor reporting requirements and revisions
  • Client engagement risks and operational alignment
  • Industry trends affecting advisory and audit practices

8. Contact Us

For compliance inquiries, documentation requests, or breach reporting:

Flair Financial Accounting

Email: policy@flairfas.com

Website: https://flairfas.com

Frequently asked questions

Compliance Policy

1. What laws does FlairFAS follow in its services?

We comply with Nepalese tax, audit, company, and labor laws, as well as international standards like IFRS, AML, FATCA, and donor-specific requirements.

2. Does FlairFAS support NGO and donor compliance?

Yes. We provide documentation, reporting support, and advisory services tailored to the rules of DFID, USAID, ADB, UN agencies, and SWC.

3. What if FlairFAS identifies a compliance risk?

We report the issue to clients and address it through corrective action, legal review, or regulator communication if necessary.

4. How do clients benefit from your compliance policy?

Clients gain audit-ready records, risk-managed services, and alignment with local and international regulatory expectations.

5. Can FlairFAS help clients prepare for audits or tax inspections?

Absolutely. We assist in preparing compliant financials, documentation, reconciliations, and internal controls for audits and inspections.