KATHMANDU, Sept. 13 -- Rastriya Beema Sansthan (RBS), a government-owned life insurance company, has recently concluded the audit of its financial transactions for the year 2009/10, in over a decade.

According to RBS, the insurer through an annual general meeting on Saturday concluded its audit of three consecutive years starting from fiscal year 2009/10. Though the Ministry of Finance (MoF) and the Office of the Auditor General repeatedly instructed the company to carry out audits of the financial transactions for a long time period in the past, RBS so far has been neglecting the government's direction.

The Insurance Board (IB), the regulator of the country's insurance businesses, on time and again talks about carrying out risk-based s...