1) The accounting system of transactions shall be as prescribed by the Government of Nepal. Unless otherwise specified, the account of the transaction will be kept according to the current accounting system.
(2) Accounts of transactions should be kept in the format approved by the Auditor General's Department.
(3) The duty of approving and implementing the framework as per sub-section (2) shall be the office of Controller General of Accounts. If the Auditor General finds it necessary to improve the existing accounting system, he can give instructions to the said office after taking the advice of the Controller General, mentioning the system that needs to be improved.
(4) The Office of the Comptroller General of Accounts shall prepare and maintain a central account of foreign grants, loan assistance, investment, appropriation, revenue and guarantees in addition to the accumulated fund. It will be the duty of the Comptroller General's Office to keep accounts of all types of transactions other than appropriations and revenue and to prepare the central statement and submit it to the Auditor General. Accounts of any type of aid or expenditure from sources not included in the budget should be prepared by the relevant office and the details should be given to the Comptroller General's Office within fifteen days of the end of the financial year.
(5) Accounts responsible officer should take all financial details including allocation, revenue, bond from the subordinate office and prepare the central account.
(6) According to sub-section (3) of section 5, the account responsible officer shall be responsible for keeping the details of other types of aid received in the subordinate office.