(1) A Council shall be constituted for carrying out, or causing to be carried out, the programmes necessary for the attainment of the objectives of the Institute in a well planned manner and for monitoring and managing all the acts and actions of the Institute.
(2) Except as otherwise provided elsewhere in this Act, the Council shall exercise all the powers and perform all the duties conferred on and assigned to the Institute, subject to this Act and the Rules and Bye-laws framed under this Act.
(3) The Council shall consist of the following councilors:
(a) Ten persons elected by the chartered accountant members from amongst themselves -Member
(b) Four persons elected by the registered auditors from amongst themselves -Member
(c) Three persons nominated by Government of Nepal upon the recommendation of the Auditor General, from amongst the persons having experience on accountancy -Member
(4) The councilors shall elect the chairperson and the vice- chairperson from the first class chartered accountants out of the councilors referred to in Clause (a) of Sub-section (3).
(5) The term of office of the chairperson and the vice- chairperson  shall be One year; and upon the expiry of their term of office, they may be
elected for One more term.
(6) The term of office of the councilors shall be Three years; and upon the expiry of their term of office, they may be re-elected or re- nominated.
(7) The procedures relating to the election of councilors shall be as prescribed.
(8) The functions, duties and powers of the chairperson and the vice- chairperson shall be as prescribed.