Tirtha Raj Upadhyay, a prominent Chartered Accountant (CA) and founding member of the Association of Chartered Accountants of Nepal (ACAN), passed away on 13 May. He was 74.

Born in Saptari district, Upadhyay spent most of his life working as a CA and as an advisor to large private and government corporations as well as banks. He also served as ACAN’s chairperson.

Upadhyay had played an important role in the drafting of Nepal Chartered Accountants Act (1997). The Institute of Chartered Accountants of Nepal (ICAN) formed under the Act not only brought social recognition to but also regulated the accountancy profession.  

There was no institute in Nepal where people could pursue the CA course prior to the Act. Upadhyay was part of the first council of ICAN, where he served in the capacity of both vice-president and president.

In his career, Upadhyay also led Nepal's Accounting Standard Board Nepal, and Nepal Accounting Technician Institute as their chairperson.

His highly successful accounting firm TR Upadhya & Co advised and worked with, among others, Office of the Auditor General, Rastriya Banijya Bank, Nepal Telecom, and Standard Chartered Bank Nepal.

In addition, he led various initiatives like the ‘Public Audit Reform Project of the Office of the Auditor General Nepal 2004-05’. 

Binod Neupane, the current ICAN director, remembers Upadhyay as his guardian and mentor.

“He was a dynamic leader, extremely professional, and highly determined,” says Neupane. “He taught me that one should always look ahead and keep moving.”

Mistakes and regrets, Neupane remembers Upadhyay telling him, are “part and parcel of life which help a person grow and improve”.

“He believed that we need to keep improving on whatever we do and never give up,” Neupane says. “I had talked to him just a week before he left for the US, which was a month ago.” 

Upadhyay and his wife were visiting their two daughters and grandchildren in the US, where he died after falling down a flight of stairs at a shopping center in Clarksburg, Maryland.

Upadhyay suffered a severed head trauma and was put on life support. He died 30 hours later.  

Upadhyay is survived by his wife, two daughters and grandchildren.

Birth: 9 Feb 1948, Saptari

Death: 13 May 2022, US