Pursuant to section 3(kha) of Nepal Chartered Accountants Act,1997, the main functions of the Board is to:

(a) development of Auditing Standards,

(b) evolve appropriate process of development of Auditing Standards

(c) redrafting, improvement and revising Auditing Standards,

(d) to interpreting the Auditing Standards,

(e) undertaking other tasks related to Auditing Standards.