The Asian-Oceanian Standard Setters Group (AOSSG) has released a report providing a review of Nepal’s standard-setting process, as part of its initiative to build regional standard-setting capacity by establishing a pilot IFRS Center of Excellence in Nepal. The report outlines a number of recommendations to assist the Accounting Standards Board (ASB) of Nepal in building its capacity to adopt and facilitate implementation of International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB).