Section 108 : Accounts of company
1) Every company shall duly maintain its accounts in the Nepali or the English language.

2) The accounts to be maintained under Sub-section (1) shall be maintained according to the double entry system of accounting and in consonance with the accounting standards enforced by the competent body under the prevailing law and with such other terms and provisions required to be observed pursuant to this Act, in such a manner as to clearly reflect the actual affairs of the Company.

3) The books of account of a company shall not be kept at any place other than its registered office, except with the approval of the Office.

4) The cash balance of a company, other than the amount specified by the board of directors, shall be deposited in a bank and transaction shall be done through the bank.

5) Subject to the provisions contained in this Chapter, the directors or other officers shall have the final responsibility to maintain books of account and records of the company.

6) Where there is a default in complying with the provisions made in this Act in respect of the preparation of books of account and annual financial statements of a company, the director or officer him/herself, during whose tenure the annual financial statements and other reports have been prepared, shall be responsible under this Act.