Structure of AASBB

 i. Research functions

Bhutanese Accounting Standards and Bhutanese Standards on Auditing would need to be constantly reviewed and updated in line with changes in international arena. They will be engaged in research of the emerging issues and update standards to keep informed of the changes in the accounting and auditing. This section shall also assist the committee(s)  in carrying out study and preparatory works on agreed activities such as establishment of Bhutanese Institute of Chartered Accountants (BICA), International Standards on Auditing (ISA), drafting of BAS Phase II and III etc.

This section shall carry out necessary due diligence and conduct field study for impact assessment before introduction of BAS and BSA. They will prepare draft report and submit it to the Technical Section for further review and submission to Board for approval.

ii. Technical functions

The Technical Section will mainly focus on the review of the accounting and auditing standards forwarded by the Research Section in relation to the Exposure Drafts and inform the stakeholders of such changes and amendments made in the relevant standards. The section shall constantly keep abreast with the developments taking place in terms of latest systems and techniques and find ways and means to bring the practice to Bhutan after thorough analysis of its practicality in Bhutanese situation. They will develop implementation guidelines and provide interpretation on standards in consultation with other sections.

This section shall also assist the committees  in discharging their responsibilities, especially in carrying out all the ground works on matters that would concern the committees.

iii. Professional Education and Training

The Professional Education and Training Section will look after the training aspects related to the Accounting and Auditing Standards. After the adoption of the standards, it would be necessary to impart continuous training to the stakeholders/implementers for effective and correct application of standards. This would require capacity building to constantly keep updated on the issued accounting and auditing standards. 

This section shall liaison with the other educational institutions about the alignment of curriculum with Chartered accountancy course.

Amongst others, this section shall pursue the enrolment of in-service candidate to CPA program after successful assessment of their Masters Degree by the institute. The enrolment of B.Com graduates with prerequisite marks in ICAI will also be the mandate of this section as the ICAI has agreed to take in Bhutanese students to pursue CA programs in India. Regular participation in the regional and international workshops, seminars and train the trainer courses etc. shall also be carried out.

The regular enforcement and implementation of the above strategies will contribute to significant improvement in the Financial Reporting by the Incorporated and Registered companies in Bhutan through application of full BAS/IFRS and BAS/IFRS for SMEs. 


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