President’s Communication : August 2019

  President’s Communication : August 2019


Dear Fellow Members

Assalamulaikum, greetings to you all.

In this month, we have lost our great leader Father of the Nation Bangabandhu Sheikh Mujibur Rahman and his family members in 1975. The Nation observed the 15 August as the national mourning day. We prayed to Almighty Allah for eternal peace of their departure souls.

Also in this month we observed the festivity of Eid ul Azha with due solemnity and religious colors. May Allah accept our devotion & sacrifice with satisfaction. I hope the members of this fraternity had a very pleasant Eid with their families. Due to Eid holidays, we had tried our best to make lesser number of working days more eventful as before.

 

Dear members, my journey as the President of the Institute has begun with a spade work with a view to reform few committees of the Council and the reformation of ICAB Management for smooth functioning of the Institute. By the grace of Almighty Allah, we have completed the task. The ICAB new organogram was prepared after holding a series of review meetings in this regard. The Council has finally approved the organogram. I believe these are the milestone achievements of the Institute. My special thanks to the Council and the members who were involved in this process.

 

Let me update you about the major activities of the Institute during the month of August 2019.

 

Training on "International Financial Reporting Standards (IFRS)" for Bangladesh Bank Officials- 5th Batch started on 23 June 2019 was closed on 5 August 2019 at ICPE training room. A total number of 35 participants took part in the training. ICPE successfully has completed the certificate course and also a certificate awarding ceremony was held on 5 August 2019 at the Pan Pacific Sonagaon Hotel, Dhaka. As Chief Guest Mr. Ahmed Jamal, Deputy Governor, Bangladesh Bank and as Special Guest Mr. Qazi Enayet Hussain, General Manager - HRM-2 of the same Bank along with myself and the Secretary & CEO Major General Muhammad Imrul Quayes ndc, psc (retd)

 

were present among others in the ceremony. I distributed few certificates to the participants.

 

ICAB held its 2nd meeting of Advisory Committee of the Council at its Council Hall on 25 August 2019. The meeting was chaired by Mr. AKM Rafiqul Islam FCA, Past President-ICAB. I gave a short presentation about the activities of ICAB and the strategic plan during my tenure. ICAB Vice President and Past Presidents were also present in the meeting. I sought guidelines and advices from the Past Presidents regarding further advancement of the Institute and the profession as a whole.

 

I congratulate the newly Qualified CAs who have achieved a fantastic set of results in the Professional Examinations of May-June 2019 session. A total of 46 students qualified in their final examination. I wish them all success in profession as ICAB Members.

 

ICAB Centre for Professional Excellence (ICPE) organized the two-day long workshop on "Draft Dummy Audit Working Paper Files for Discussion and Comments” on 24 & 25 August 2019 in the ICAB Auditorium. A total number of 30 participants took part in the program. This workshop focused on how to develop the comprehensive set of audit working files covering audit permanent file, audit planning, test of operating effectiveness, etc.

 

ICAB Secretary Major General Muhammad Imrul Quayes ndc, psc (retd) inaugurated the workshop. I along with Vice President Mr. Md. Moniruzzaman FCA and the resource persons were present in closing ceremony. I distributed certificates to the participants as well.

 

Responding to the call to give expert’s opinion with a view to ensure transparency I nominated Mr. Md. Shahadat Hossain FCA, Council Member-ICAB in the 7th meeting of the Financial Sector Development Working Committee (FSDWC) of Business Initiative Leading Development (BUILD) held on 7 August 2019 at DCCI premises, Dhaka. The meeting was co-chaired by Mr. Ahmed Jamal, Deputy Governor of Bangladesh Bank and Mr. Osama Taseer, President of Dhaka Chamber of Commerce and Industry (DCCI).

 

We mourn: Mr. Md Ghiasuddin Satiar FCA (Enrl. No. 203), former Partner of Ahsan Zamir & Co., Chartered Accountants died on 16 August 2019. (Innah Lillahe ... Rajeun). On behalf of the Council of ICAB, I expressed condolence to the bereaved family and sought eternal peace to the departed soul.

 

Meetings of Council and Standing & Non-standing Committees

 

The following meetings of the Council, Standing, Non-Standing Committees and Sub-committees of ICAB were held during the month of August 2019:

 

Standing Committees:

 

- 4th Meeting of the Executive Committee was held on 7 August 2019 at 5:00 pm.

- 3rd Meeting of the Board of Studies (BoS) was held on 21 August 2019 at 6:00 pm.

- 3rd Meeting of the Examination Committee was held on 22 August 2019 at 11:30 am.

- 9th Meeting of the Council was held on 22 August 2019 at 2:00 pm.

- 4th Meeting of the Examination Committee was held on 24 August 2019 at 12:00 pm.

- 10th Meeting of the Council was held on 24 August 2019 at 12:30 pm.

- 7th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 27 August 2019 at 7:00 pm.

 

Non-standing Committees:

 

- 4th Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 7 August 2019 at 6:30 pm.

- 2nd Meeting of the Advisory Committee was held on 25 August 2019 at 6:00 pm.

- 4th Meeting of the Members Issues, Services & Welfare Committee (MSWC) was held on 28 August 2019 at 6:30 pm.

 

Wish you all the best.

 

 

A F Nesaruddin FCA

President

Update Date : 12/09/2019

  President’s Communication : July 2019


Dear Fellow Members

Assalamulaikum, greetings to you all.

 

The new financial year has started with the hope and aspiration to make further advancement of economy of the country. In this journey ICAB Members are very instrumental and have role in ensuring stable financial system and stronger economy. Thereby I must say, they have so far played an active role in the rise of our economy wherever they are involved. With high degree of integrity and professional values, they are working towards achieving SDGs. Understanding the criticality of their functions, ICAB recurrently organizes trainings and workshops pertaining concurrent professional issues to its members and inspires them towards professional excellence. Besides, considering the global business scenario and the changes of commercial operations, during my tenure ICAB has undertaken many reform initiatives to make the Institute more vibrant. Our education system is the epitome of world class standard as ICAB has fully adopted the academic syllabus of the Institute of Chartered Accountants in England & Wales (ICAEW), UK.

 

Dear members, let me update you about major activities of the Institute during the month of July 2019.

 

SAFA Conference and board meeting in Colombo: An expert team of ICAB participated in SAFA Board Meeting, different committee meetings and SAFA (Forum) Conference on 29 and 30 July 2019 in Colombo, Sri Lanka. Along with me the ICAB delegates were ICAB Vice President Prof. Dr. Md. Salim Uddin FCA, Council Members & Past Presidents Mr. Md. Humayun Kabir FCA, Mr. Kamrul Abedin FCA, Council Members Dr. Md. Abu Sayed Khan FCA, Mr. Muhammad Farooq FCA, Mr. Gopal Chandra Ghosh FCA, Mr. Sabbir Ahmed FCA, Mr. Mahmudul Hasan Khusru FCA, Mr. Mohammed Forkan Uddin FCA, Ms. Maria Howlader FCA and Past Presidents Mr. Muhammed Farhad Hussain FCA and Ms. Parveen Mahmud FCA. They participated in their respective committee meetings on 29 July and I, myself along with Mr. Md Humayun Kabir FCA participated in the SAFA Board meeting on 30 July 2019.

 

At the inaugural session of the SAFA (South Asian Federation of Accountants) Conference, I had the opportunity to lit the fire at the lantern, a ritual of beginning of a gala program. The conference titled “The Role of Finance Professional in Combatting Corruption: South Asian Perspectives” was held at Balmoral Ballroom, Hotel Kingsbury in Colombo, Sri Lanka on 30 July, 2019.  As panel speaker ICAB Vice President Prof. Dr. Md. Salim Uddin FCA presented a paper on “Combating Corruption in Bangladesh”. His deliberation was excellent and mesmerized the audiences.  A good number of SAFA Delegates and guests from south Asian countries and the representatives of Sri Lankan Government including Finance Minister were present in the conference.

 

The Jury Board meeting of the Review Committee for Published Accounts and Reports (RCPAR) of the Council-ICAB was held on 17 July 2019 at ICAB Council Hall. Country’s prominent personalities including bankers, bureaucrats, journalist were present in the meeting as Members of the Jury Board headed by the Chairman of the Board Mr.  Md Matiul Islam FCA, Chairman, IIDFC and Former Finance Secretary, Govt. of Bangladesh.

 

ICAB organized two workshops on ‘VAT & Supplementary Duty (SD) Act, 2012–Highlights and Challenges’ at ICAB Auditorium on 24 July and 30 July 2019. Dr. Abdul Mannan Shikder, Member (VAT Policy), Customs, Excise & VAT, NBR, among other resource persons conducted the workshop. As ICAB President I awarded the certificates to the participants.

 

ICAB organized another workshop on “ICAEW Pathway Membership for the Members of ICAB” on 1 July 2019.   A total number of 60 members took part in the program. I inaugurated the first session of the workshop. Resource person of the workshop was Mr. Justin West, Consultant, the Institute of Chartered Accountants in England & Wales (ICAEW).

 

A day long workshop on 'Top Level Leadership and Management Skills Development for Career Success' was held at CA Bhaban on 12 July 2019. A total number of 35 participants participated in the program. This was an interactive session jointly organized by ICAB and WSDA New Zealand. ICAB Vice President Mr. N K A Mobin FCA,  Council Member Mr. Gopal Chandra Ghosh FCA, Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) were present in  the closing ceremony.

 

As ICAB Representative Mr. Mahbub Ahmed Siddique FCA, Director (Technical) and Mr. Md. Afsar Uddin FCA, Deputy Director (QAD) of ICAB participated in a discussion meeting regarding prevention of money laundering and terror financing at Bangladesh Bank premises on 8 July 2019. They discussed about Strategic Implementation Plan (SIP) of the said issue with APG team of the central bank. As part of our commitment to combat money laundering, they took part in the discussion.

 

Meetings of Council and Standing & Non-standing Committees and Sub-committees

The following meetings of the Council, Standing, Non-Standing Committees and Sub-committees of ICAB were held during the month of July 2019:

 

Standing Committees:

 

  • 7th Meeting of the Council Meeting was held on 4 July 2019 at 11:00 am.
  • 3rd Meeting of the Executive Committee was held on 4 July 2019 at 2:00 pm.
  • 5th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 6 July 2019 at 5:00 pm.
  • 8th Council Meeting was held on 18 July 2019 at 5:00 pm.
  • 6th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 25 July 2019 at 6:00 pm.

 

Non-standing Committees:

  • 3rd Meeting of the Information & Communication Technology Committee (ICTC) was held on 9 July 2019 at 5:30 pm.
  • 2nd Meeting of the Professional Development Committee (PDC) was held on 10 July 2019 at 6:00 pm.
  • 2nd Meeting of the Committee for Women in Leadership (WIL) was held on 16 July 2019 at 6:00 pm.
  • 3rd Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 16 July 2019 at 6:00 pm.

 

Standing and Non-Standing Sub-committees:

  • 4th Meeting of 11-Members Sub-Committee of Articled Students Committee (ASC) was held on 21 July 2019 at 6:30 pm.
  • 1st Meeting of the 7-Member Sub-Committee of Membership Development and Mutual Collaboration Committee (MD & MCC) was held on 24 July 2019 at 5:30 pm.
  • 1st Meeting of the Sub-Committee of Real Estate Committee (REC) Regarding procurement of Diesel Generator was held on 30 July 2019 at 7:15 pm.
  • 1st Meeting of the Sub-Committee of Real Estate Committee (REC) Regarding Renovation of the 9th floor was held on 31 July 2019 at 6:30 pm.

 

Wish you all the best.

 

 

A F Nesaruddin FCA

 

Update Date : 22/08/2019

  President’s Communication : June 2019


Dear Fellow Members
Assalamu Alaikum, my dear Professional Colleagues, greetings to you all

Dear members, as President of the Institute I have already passed six months of my tenure. During this time, we have tried to give momentum in ICAB’s activities in view of the rapid changes of business environment and technological transformation, so that our members can effectively continue to contribute to the economic development of the country. Many important trainings and workshops were held in June, although we had few working days because of Eid vacation. With a determined stand to grow along with the nation, ICAB and CA profession have transformed themselves from being the anchor of our country’s fiscal prudence and play the role of partners in nation building. For the first time ever, ICAB organized post budget roundtable discussion in association with The Daily Star on National Budget 2019. It was a unique event, thought provoking ideas and suggestions/ recommendations were emanated from this session for a pragmatic budget and the Finance Bill 2019. 

My dear members of this fraternity, we are pleased to inform you that the NBR has brought amendment to Section 130 of the VAT and Supplementary Duty Act 2012 following our appeal and now the concerned Chartered Accountant will not be required to sit for exam but will be required to apply for VAT practicing license instead. I express my heartfelt thanks to NBR Chairman for his prudence and wisdom.

Let me now update the activities of the Institute during the month of June 2019.

For the first time ever, “ICAB-The Daily Star Post-Budget Discussion 2019” was organized jointly by ICAB and The Daily Star at The Daily Star Centre on June 15, 2019 to analyse the proposals in the budget. Planning Minister Mr. MA Mannan, MP was the chief guest of the event. Country’s renowned economists, businessmen and professionals also spoke in the program. Among them were   Mr. Ahsan H Mansur, Executive Director, PRI, Mr.Syed Mahbubur Rahman,Chairman, ABB, Mr.Abul Kasem Khan, Former President, DCCI, Dr Nazneen Ahmed, Senior Research Fellow, BIDS, Mr. Mohammad Ali Khokon President, BTMA,  Mr.Rakibur Rahman, Former President, DSE and Mr. Shahedul Anam Khan, Acting Editor, The Daily Star. I gave a brief overview of the budget in my introductory speech while Council Member & Past President  Mr. Md. Humayun Kabir FCA moderated the session. Council Member  Mr. Md. Shahadat Hossain FCA and  Fellow Member  Mr. Snehasish Barua FCA jointly presented the key-note paper on National Budget which provoked thoughts and ideas for discussion. ICAB Council Member Prof. Dr. Md. Salim Uddin FCA also spoke on the occasion.

I, along with Council Member Mr. Sabbir Ahmed FCA participated in CAW’s events in Dubai on 17 & 18 June 2019. Council Member Mr. Sabbir Ahmed FCA participated as a speaker at the Chartered Accountants Worldwide (CAW) panel discussion: ‘The Future of Trust: new technology meets old-fashioned values’ followed by a networking event held on 17 June at the Boulevard’ Hotel, Dubai. It was well attended by the CEOs of the member institutes from Chartered Accountants Worldwide along with selected senior business and finance professionals.

The debate focused on the importance of trust in finance and business exploring global perspectives on a number of relevant topics including technology, ethics, the impact of A.I. on the profession and the regulators and the skills of tomorrow’s business leaders with the aim of providing insightful solutions to inform future planning and strategy. 

ICAB organized a workshop on ‘Special Audit on Imports and Exports of Selected Five State Owned Banks’ on 25 June 2019 at CA Bhaban. I along with Vice President Mr. Md. Moniruzzaman, Council Member Mr. Muhammad Farooq FCA and Acting Secretary-ICAB & Director (Technical) Mr.Mahbub Ahmed Siddique FCA were present in the inaugural session of the workshop. The state owned banks were Sonali Bank Limited, Janata Bank Limited, Agrani Bank Limited, Rupali Bank Limited and BASIC Bank Limited.

Mr. Md. Yusuf Ali, Deputy Managing Director, Agrani Bank Limited, Mr. Md. Ismail Hosssain, Deputy Managing Director, Janata Bank Limited and Mr. A.K.M Masudur Rahman, General Manager, Basic Bank Limited delivered lectures and took part in panel discussion as the guest speakers.

Among others Mr. Ajit Kumar Paul FCA, Additional Secretary, Financial Institutions Division, Ministry of Finance, GoB, were the resource persons.

ICAB organized a  members’ conference on ‘Salient Features of Finance Bill 2019-‘20’ on 16 June 2019 at CA Bhaban. Mr. Mosharraf Hossain Bhuiyan, ndc, Senior Secretary, Internal Resources Division (IRD) & Chairman, National Board of Revenue (NBR), Ministry of Finance, Government of the People’s Republic of Bangladesh was present as the Chief Guest.  I gave welcome speech. Fellow Member Mr. Snehasish Barua FCA and Council Member Mr.Md. Shahadat Hossain FCA jointly presented the keynote paper. ICAB Council Member & Past President Mr. Md. Humayun Kabir FCA moderated the session as session chair of the conference. In his speech NBR Chairman assured that the Section 130 of the VAT and Supplementary Duty Act 2012 and SRO 202-Law/2019/59-VAT dated 13 June 2019 would be replaced by the provision of VAT act 1991. We instantly lauded his visionary remarks.  Prof. Dr. Md Salim Uddin FCA rendered vote of thanks.

An Advance Level Certificate Course on ‘International Financial Reporting Standards (IFRS) & International Accounting Standards (IAS) was started on 22 June and would continue till 3 August 2019. A total number of participants were 43.  Another training program on ‘International Financial Reporting Standards (IFRS) for Bangladesh Bank Official’ was started on 23 June and would continue till 5 August 2019. A total number of 50 participants ranked Deputy Director and joint Director are participating in the program.

Mr. Dewan Hanif Mahmud, Editor of the daily Bonik Barta paid a courtesy visit at ICAB on 25 June 2019. We discussed different issues regarding Budget and Fiscal policies. The Editor also expressed interest to undertake joint initiative for holding roundtable discussion.

Meetings of Council and Standing & Non-standing Committees

The following meetings of the Council, Non-Standing Committees of ICAB were held during the month of June 2019:

Non-standing Committees:

-     5th Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 13 June 2019 at 4:00 pm.

-     3rd Meeting of the Editorial Board Meeting was held on 17 June 2019 at 5:30 pm.

-     4th Meeting of the Continuing Professional Development Committee (CPDC) was held on 26 June 2019 at 6:00 pm.

-     2nd Meeting of the International and Regional Affairs Committee was held on 30 June 2019 at 6:30 pm.

Wish you all the best.

 

A F Nesaruddin FCA

President

 

Update Date : 09/07/2019

  President’s Communication : May 2019


Dear Fellow Members
Assalamu Alaikum, greetings to you all.

Dear Fellow Members, we    had    the    graceful    blessing    of Almighty Allah as we had the opportunity to observe the holy month of Ramadan. May Allah accept our devotion and dedication meant for his satisfaction during this month. As the Ramadan fell in    the month of May, we had to shrink the Institute’s activities in the limited time frame in line with rituals of Ramadan. However, we tried our best to make all the working days   eventful   within   the   squeezed working hours.

 

Bound by inherent integrity and transparency, ICAB always inspires auditors to deliver quality in their profile of performing audit, review or assurance engagements. In this view, every year ICAB takes untiring initiatives like seminars, trainings and workshops for the members on concurrent issues where they learn and develop their skills & acumen which are dedicated to the public interest. Moreover, responding to the expectations of the public as well as the Government, ICAB always gives its expert opinion regarding relevant laws and regulations for betterment of business and economy.

 

Dear Members, you know that announcement of National budget 2019 is eminent, may be in June 2nd week. Response to the call from NBR, ICAB had submitted suggestions and recommendations to the revenue authority earlier, for boosting revenue income of the government for expediting the development activities. 

 

Now, let me update the main activities of the Institute during the month of May 2019.

 

02 May 2019, Members’ Conference on 'Foreign Direct Investment and Integrated Reporting for Sustainable Development Goals' was held at ICAB. As Chief Guest Mr. S M Rejoan Hossain, Additional Secretary, Ministry of Commerce, GoB was present in the conference while address of welcome was given by me. Learned keynote presenter was Council Member and Past President-ICAB  Mr. Mohammed Humayun Kabir where he discussed Foreign Direct Investment (FDI) & areas of regional cooperation for achieving the SDGs; and  relevance of “IR” framework particularly its “six Points ” for reporting on Sustainable Development Goals (SDGs). His excellent presentation depicts the investment scenario, predicaments and way forward.

 

15 May 2019, ICAB Centre for Professional Excellence (ICPE) organized a workshop on 'Capacity Building of ICAB and the Accountancy Profession' at the ICAB Training Room for the practicing members. The aim of this workshop was to focus on strengthening the capacity of the ICAB and the Accountancy Profession in the country to address the emerging challenges and provide high quality service to the stakeholders and its members.

 

I along with Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) were present in the program. I summarised the workshop discussion.

 

08 May 2019, ICAB Centre for Professional Excellence (ICPE) organized a day long workshop on 'Special Audit Procedure in Life Insurance for listed CA Firms' as per the guideline of IDRA at the ICAB Training Room. It was a mandatory workshop for the Listed Chartered Accountants' Firms to audit the Life Insurance Company for the year 2019 as per the Bima Act 2010(29). I along with Council Member Mr. Muhammad Farooq FCA and Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd), were present in the program.

 

09 May 2019, A coordination meeting between all partners of LGSP-3 audit and review firms of ICAB was held at ICAB. I along with Council Member Mr. Md. Shahadat Hossain FCA, Secretary Major General Muhammad Imrul Quayes, ndc, psc (retd), among other were present. Members of the Institute who are involved in LGSP-3 audit and review work participated in the meeting.

 

Meetings of Council and Standing & Non-standing Committees

 

The following meetings of the Council, Standing and Non-Standing Committees of ICAB were held during the month of May 2019:

 

Standing Committees:

 

  • 2nd Meeting of the Technical & Research Committee (TRC) was held on 22 May 2019 at 3:00 pm.
  • 2nd Meeting of the Board of Studies (BOS) was held on 23 May 2019 at 3:00 pm.
  • 2nd Meeting of the Quality Assurance Board (QAB) was held on 28 May 2019 at 3:00 pm.
  • 6th Meeting of the Council was held on 30 May 2019 at 2:00 pm.

 

Non-standing Committees:

 

  • 3rd Meeting of the Committee on Professional Accountants in Business (PAIB) was held on 5 May 2019 at 5:00 pm.
  • 2nd Meeting of the Audit Committee was held on 15 May 2019 at 3:00 pm.
  • 3rd Meeting of the Editorial Board (EB) was held on 15 May 2019 at 5:30 pm.
  • 3rd Meeting of the Committee for Amendment of CA Order & Bye-Laws and FRA was held on 16 May 2019 at 2:30 pm.
  • 2nd Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 16 May 2019  at 3:30 pm.
  • 2nd Meeting of the Information & Communication Technology Committee (ICTC) was held on 19 May 2019 at 2:30 pm.
  • 4th Meeting of the Committee for Amendment of CA Order & Bye-Laws and FRA was held on 23 May 2019 at 3:00 pm.
  • 3rd Meeting of the Membership Development and Mutual Collaboration Committee (MDMCC) was held on 27 May 2019 at 2:30 pm.
  • 2nd Meeting of the Media & Branding Committee (M&BC) was held on 29 May 2019 at 2:30 pm.
  • 3rd Meeting of the Continuing Professional Development Committee (CPDC) was held on 29 May 2019 at 3:00 pm.

 

Wish you all the best.

 

A F Nesaruddin

President

Update Date : 23/06/2019

  President’s Communication : April 2019


Dear Fellow Members
Assalamu Alaikum, greetings to you all.

The first day of Bangla New Year ‘Pohela Boishakh’ is an occasion to celebrate our glorious traditions, customs, culture & heritage. The whole nation celebrated the Day with due fervor & festivity representing the Bengali custom, culture & tradition. It is not just a celebration; it is our firm commitment reiterated to promote own culture & heritage.

 

On this very occasion I exchanged warm greetings with all the members and the employees of ICAB. To celebrate the Day ICAB has sent a token of gift containing homemade food stuff to distinguished members & citizens of the country.

 

ICAB’s core value is to keep on strengthening professional corresponding to the development of knowledge and the inventing & reinventing of skills, particularly regarding the role of Chartered Accountants in decision making, planning and execution, and consultancy and guidance. ICAB intuitively have come up with a volley of suggestions regarding Tax, VAT & Customs policies and submitted those to NBR, which would help the government for boosting revenue collection.  Furthermore, like other years ICAB held a joint roundtable discussion on National Budget 2019-2020 with daily Prothom Alo. Several print & electronic media covered the event with due importance. We hope relevant ministries and authorities will pick up the suggestions and recommendations emanated from this discussion.

 

Now let me give you updates of the activities of ICAB in the month of April 2019:

 

A discussion on the national budget for fiscal year 2019-20, was arranged by the ICAB and daily Prothom Alo on 18 April 2019 at CA Bhaban in Dhaka. Mr. Md Mosharraf Hossain Bhuiyan, ndc Chairman, National Board of Revenue (NBR) attended the program as the chief guest. I delivered welcome speech while Mr. Md. Humayun Kabir FCA, Council Member & Past President and Chairman, TCLC moderated the session. Besides ICAB experts, renowned Economists, ex-bureaucrats, distinguished fellows of the country spoke on the occasion. It was a thought provoking discussion definitely helps the decision makers   to formulate policies upcoming budget 2019-2020. ICAB Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd.) and Mr. Abdul Quyyum, Associate Editor of Daily Prothom Alo also spoke on the occasion.

 

ICAB organised a Members’ Conference on ‘Importance of Life Skills Course for Human Resource Development on 2 April 2019 at its Auditorium. It was well attended by the members of ICAB and program was appreciated as well.

 

Mr. Neaz Ahmed, Sr. Faculty Member & Dean, Future CEO Program presented the Key Note paper on ‘Importance of Life Skills Course for Human Resource Development’. Mr. Muhammed Farhad Hussain FCA, Partner, Hussain Farhad & Co., Chartered Accountants & Past President-ICAB was the Session Chairman.

Mr. Ahmed Baree, Vice President & Dean, Workplace Skills Development Academy(WSDA), New Zealand gave a presentation on emotional intelligence and conducted a practical demonstration with participation from the audience.  He also described how to manage the work place stress. I delivered welcome speech while ICAB council member Mr. Gopal Chandra Gosh FCA extended the concluding remarks. ICAB secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd) also spoke on the occasion.

 

A member’s conference on SMPs in Bangladesh: Challenges, Opportunities and Way forward was held on 13 April 2019 at ICAB Auditorium where the significance of SMPs in Bangladesh Economy was discussed elaborately. Mr. Md. Mofizul Islam, Secretary, Ministry of Commerce,GoB was present as the Chief Guest. I along with Vice President Mr. NKA Mobin FCA, and ICAB Secretary Major General Muhammad Imrul Quayes,ndc, psc(Retd) spoke in the conference. The conference paper was presented by Council Member Ms. Maria Howladar FCA.

 

Member’s Conference on Introduction to Blockchain’ was held at CA Bhaban on 28 April 2019 with enthusiastic presence of hundreds of members. The block chain is a new topic in accounting profession. To cope with rapidly changing business methods towards digitalized based accounting system, the discussion is very time befitting. The members would greatly be benefited from this discussion. Mr. N M Ziaul Alam, Secretary, Information Communication Technology Division, Ministry of Posts, Telecommunications and Information Technology, GoB graced the occasion as the chief guest. I delivered welcome speech while Mr. Ahmed Raihan Shamsi FCA conducted the session as the Session Chairman. Mr. Khondkar Atique-e-Rabbani FCA, Managing Director, The Computers Ltd & Member-ICAB presented the key-note paper.

 

I along with Council Member & Past President Mr. Md. Humayun Kabir FCA participated in 58th SAFA Board and Assembly Meeting on 6 April 2019 at Katmandu, Nepal. The meeting was well attended by the representatives of Accounting bodies in SAARC region.

 

On 4 April 2019 I made a presentation as one of the panelists of SAFA Conference on Enabling Business Environment for Economic Development. My deliberation was well appreciated by the audience. In sideline of the SAFA events, I had a meeting with IFAC President Mr.  In-Ki Joo on 5 April 2019 and discussed various professional issues.

 

I along with ICAB expert team participated in budget talks (preparatory meeting) with National Board of Revenue (NBR) on 8 April 2019 chaired by Mr. Md. Mosharraf Hossain Bhuiyan, ndc, Chairman of NBR. The other members of the ICAB expert team were Mr. Md. Humayun Kabir FCA, Council Member & Past President and Chairman, Taxation and Corporate Laws Committee (TCLC) of ICAB and Fellow Member Mr. Snehasish Barua FCA, member TCLC.

 

A day long training on 'Practical Aspects of IFRS 9 - Financial Instruments' was held on  13 April 2019 at ICPE training room  and the session had been completed  successfully. A total number of 32 Officials from City Bank participated in the training program.

 

 I along with Vice Presidents Mr. N K A Mobin FCA, Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) and resource person & ICAB Council Member Mr. Sabbir Ahmed FCA were present in the closing ceremony.

 

Six-day long training program on 'Advanced Certificate Course in Leadership & Communication' – 4th Batch has been started from 4 April 2019 at ICPE training room. A total number of 35 members and non-members participated in the program. Communication & interpersonal skill is building the blocks of leadership. Successful corporate leaders have retained communication & leadership skills in their hearts.  In these aspect, the training on leadership and communication was organized recurrently by the Institute.

 

I along with resource person Mr. Mohammed Saif Noman khan and officials of ICAB were present in the closing ceremony.

 

Review meeting regarding ongoing audit activities with auditors of Life Insurance Company, Non-life Insurance company and Jibon Bima Corporation was held at Insurance Development and Regulatory Authority (IDRA) on 29 April 2019. I along with Council Member Mr. Muhammad Farooq FCA were present in the meeting, besides Representatives of 32 Audit Firms who are engaging in auditing of financial statements of Life Insurance Company, No-life Insurance company, Jibon Bima Corporation were present in the meeting. Also Representative of Finance Division & Financial Reporting Council (FRC) were present in the meeting.

 

Eight-day long training program on 'Advanced Level Certificate Course On IFRS and IAS' – 6th Batch has been started from 2 March 2019 at ICPE training room and the sessions of the training was completed successfully on 27 April 2019. A total number of 50 members and non-members participated in the program. Knowledge on IFRS & IAS is required to enhance the competence of professionals serving in key positions of financial sector in Bangladesh.

 

Resource persons of the training course were Mr. Sabbir Ahmed FCA, Mr. Snehasish Barua FCA, Mr. Mohammed Salahuddin Chowdhury FCA, Mr. Wasequl Huq Regan FCA, Mr. Muhammad Aminul Hoque FCA, Mr. Sk, Md. Tarikul Islam FCA and Mr. Muhammad Mehedi Hassan FCA. Besides myself, Mr.  N K A Mobin FCA FCS vice president ICAB and resource person Mr. Mohammed Salahuddin FCA were present in the closing ceremony of the program.

 

I and Prof. Dr. Charles C Villanueva, Dean, Faculty of Business Administration of American International University- Bangladesh signed documents of a Memorandum of Understanding (MoU) on 9 April 2019 to give subject waiver to the students of Business faculty of AIUB. ICAB Vice President Mr. NKA Mobin FCA, Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd.), Mr. Mohammad Faridul Alam, Associate Professor, Department of Accounting were also present in the occasion. Under the students of Finance, and Accounting Departments will get the benefits under credit for prior learning program of the Institute.

 

32nd BCAH Anniversary 2019; As Chief Guest Mr. Tipu Munshi, MP, Commerce Minister, Peoples Republic of Bangladesh and myself as Special Guest were present at a program on celebrating 32nd Bangladesh Chartered Accountancy Hostel (BCAH) Anniversary-  at a city hotel on 18 April 2019.

 

Meetings of Council and Standing & Non-standing Committees and Sub-committees

 

The following meetings of the Council, Standing and Non-Standing Committees of ICAB were held during the month of April 2019:

 

Standing Committees:

 

  • 2nd Meeting of the Executive Committee (EC) was held on 9 April 2019 at 4:00 pm.
  • 2nd Meeting of the Articled Students Committee (ASC) was held on 11 April 2019 at 5:30 pm.
  • 4th Meeting of the Council ICAB was held on 16 April 2019 at 4:00 pm.
  • 5th Meeting of the Council ICAB was held on 30 April 2019 at 5:30 pm.

Non-standing Committees:

 

  • 1st Meeting of the Professional Development Committee (PDC) was held on 3 April 2019 at 5:30 pm.
  • 1st Meeting of the Regulators & Trade Bodies Coordination Committee (RTBCC) was held on 3 April 2019 at 3:00 pm.
  • 2nd Meeting of the Continuing Professional Development Committee (CPDC) was held on 15 April 2019 at 6:00 pm.
  • 2nd Meeting of the Committee for Amendment of CA Order, Bye-Laws and FRA was held on 17 April 2019 at 5:30 pm.
  • 3rd Meeting of the Investigation & Disciplinary Committee (IDC) was held on 24 April 2019 at 6:00 pm.
  • 2nd Meeting of the Regional Committees & Overseas Management Chapter Committee (RCOMCC) was held on 27 April 2019 at 5:00 pm.

 

Wish you all the best.

 

 

A F Nesaruddin FCA

President

Update Date : 16/05/2019

  President’s Communication : March 2019


Dear Fellow Members
Assalamu Alaikum, greetings to you all.

The month of March reminisced the massacre committed by the then Pakistani rulers that always sadden us profoundly. The aftermath was the declaration of Independence of Bangladesh (the then east Pakistan) on the day of 26 March 1971. People had to go through nine months long nightmare, a bloody war to become independent from Pakistani occupation. To achieve independence, several known and unknown men and women sacrificed their lives. What remains with us, are their memories, words of wisdom and dreams. The day curved a niche in deep of hearts of people. Every year we celebrate 26th March as our Independence Day. On this very day different organizations and cultural groups chalk out different programs to celebrate the day in befitting manner. This year we celebrated the Day by hoisting national flag at CA Bhaban in early morning and placed floral wreath at the National Mausoleum at Savar to show deep respect to our valiant freedom fighters. Several council members, DRC members and members of the Institute enthusiastically joined us. Having deep rooted the spirit of Independence, we urged all members of this fraternity to hold the flagship of CA profession at the top of dignity and professionalism.

Now, let me give a brief on major activities undertaken during the month of March 2019:

28 March 2019, the Members’ Conference on ‘Bangladesh: policy review on Financial Reporting Act (2015)’ was organized by ICAB. Dr. Javed Siddiqui, Senior Lecturer, Accounting, Alliance Manchester Business School, University of Manchester, UK., presented the Key Note paper in the conference. Mr. C. Q. K. Mustaq Ahmed, Chairman, Financial Reporting Council (FRC) was present as the Chief Guest while Mr. A. K. Gulam Kibria FCA, Partner, G Kibria & Co., Chartered Accountants and Past President-ICAB was the Session Chairman. Hundreds of Chartered Accountants attended the conference. In my speech I pointed out our observations on three provisions of the Financial Reporting Act (FRA); formation of FRC Board, non-auditors like CIMA and CMA brought under the purview of the Act, and the provision of punishment. I discussed some other aspects of FRA and assured full support to FRC in its endeavor. Dr. Javed Siddiqui, Bangladeshi origin UK professor very precisely, described the present scenario of audit profession in Bangladesh. He discussed FRA comparing with the similar acts in other countries and placed some recommendations, which were lauded by the audience.

For the first time in history of ICAB and as bold and encouraging step on 24 March 2019, Press Conference on ‘thoughts of chartered accountants regarding next national budget’ was organized at CA Bhaban. I delivered opening remarks and Mr. Md Humayun Kabir FCA, Chairman, Taxation and Corporate Laws committee (TCLC) presented the keynote paper on income tax, VAT and customs policies. Council Member Mr. Mohammed Forkan Uddin FCA, the member of the committee Snehasish Barua FCA and ICAB Secretary Major General Muhammad Imrul Quayes, ndc, psc (retd) also spoke in the event.

Among others, ICAB Vice Presidents Mr. N K A Mobin FCA and Mr. Md. Moniruzzaman FCA, Council Member & Past Presidents Mr. Nasir Uddin Ahmed FCA, Council Members Dr. Md. Abu Sayed Khan FCA, Ms. Maria Howlader FCA and Taxation and Corporate Laws Committee Member Ms. Rakesh Saha FCA were present. We responded questions raised by journalists and reporters from media and it was a very lively session.   The conference got huge media coverage in main stream newspapers and electronic media of the country.

10 March 2019, we paid a courtesy call on Mr. Md. Mofizul Islam, Secretary, Ministry of Commerce, GoB at Bangladesh Secretariat. Vice Presidents Mr. N K A Mobin FCA, Dr. Md. Salim Uddin FCA, Mr. Md. Moniruzzaman FCA and Council Member Mr. Muhammad Farooq FCA and Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) accompanied me in the meeting. We invited him and he blocked his diary to visit ICAB on 13 April 2019 to attend as the Chief Guest of a members’ conference. He also expressed his happiness to visit ICAB, one of the vital organs of the Ministry of Commerce.

19 March 2019, a team of ICAB paid a courtesy call on Mr. Kazi M Aminul Islam, Executive Chairman, Bangladesh Investment Development Authority (BIDA) at his office. Led by me, the other members of the team were Vice Presidents Mr. N K A Mobin FCA, Dr. Md. Salim Uddin FCA, Mr. Md. Moniruzzaman FCA and Council Members Mr. Muhammad Farooq FCA, Mr. Mohammed Forkan Uddin FCA, Fellow Member Mr. Ahmed Raihan Shamsi FCA and Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) discussed some professional matters.

12 March 2019, we paid a courtesy call on Mr. Fazle Kabir, Governor, Bangladesh Bank at his office and discussed different professional issues. Vice Presidents Mr. N K A Mobin FCA, Dr. Md. Salim Uddin FCA, Mr.Md. Moniruzzaman FCA and Council Members Mr.Muhammad Farooq FCA, Mr.Mohammed Forkan Uddin FCA and Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) were present in the meeting.

15 March 2019,  The discussion was organized to celebrate International Women’s Day 2019 at CA Bhaban. In the program the youngsters of newly qualified female chartered accountants were also congratulated by the committee of Women in Leadership of ICAB.  The program was graced by Ms. Rasheda K. Chowdhury, Former Adviser, Caretaker Government of Bangladesh and Ms. Aroma Dutta, Member of Parliament, Government of Bangladesh. I delivered address of welcome while the opening remarks was made by Ms. Parveen Mahmud FCA, Chairman, Women in Leadership Committee (WIL) & Past President-ICAB. Country’s established Women entrepreneurs and women top executives took part in Panel Discussion. Ms. Zareen Mahmud Hosein FCA conducted the discussion. Ms . Anika Sultana FCA, Member, DRC-ICAB extended the vote of thanks. ICAB Council Member Maria Howlader FCA was also present in the program.

20 March 2019, ICAB held its Advisory Committee Meeting of the Council. The meeting was chaired by Mr.  M J Abedin FCA, Past President-ICAB. I gave a short presentation about the activities of ICAB and the strategic plan during my tenure. Past Presidents present appreciated the program.

02 March 2019, eight day-long training program on ‘Advance Level Certificate Course IFRS and IAS’ - 6th Batch has started from and the session of the training is going on successfully in every Saturday. A total number of 50 participants are participating in the program.

21 March 2019, the smiling faces of the youngster newly qualified Chartered Accountants were accorded a gala Reception by the Institute.  DRC joined ICAB team to organize the event. I along with Vice Presidents Mr. NKA Mobin FCA, Mr. Moniruzzaman FCA, Council Members Dr. Abu Sayed Khan FCA, Mr. Md. Shahadat Hossain FCA and Mr. Gopal Chandra Ghosh FCA were present in the occasion.

09 March 2019, the meeting of Members in Practice was held at CA Bhaban. I chaired the meeting. About 54 representatives of audit firms participated in the meeting encompassed with some underpinning issues in relation to audit profession and the profession at large were discussed in the meeting with spontaneous participation by the members present.

05 March 2019, Professor Janek Ratnatunga, CEO of Institute of Certified Management Accountants, Australia and Mr. Mohammad Sazzad Hassan, Regional Director of ICMA Australia, Bangladesh met me at CA Bhaban.  They placed an offer to ICAB for easy pathway membership of CMA, Australia.

Meetings of Council and Standing & Non-standing Committees and Sub-committees

The following meetings of the Council, Standing and Non-Standing Committees and Sub-committees of ICAB were held during the month of March 2019:

Standing Committees:

-    1st Meeting of the Investigation & Disciplinary Committee (IDC) was held on 12 March 2019 at 5:00 pm.

-    3rd Meeting of the Council was held on 18 March 2019 at 5:00 pm.

-    2nd Meeting of the Investigation & Disciplinary Committee (IDC) was held on 30 March 2019 at 4:00 pm.

Non-standing Committees:

-     1st Meeting of International & Regional Affairs Committee (IRAC) was held on 03 March 2019 at 5:30 pm.

-     3rd Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 4 March 2019 at 6:00 pm.

-     2nd Meeting of the Regulators & Trade Bodies Coordination Committee (RTBCC) was held on 5 March 2019 at 5:30 pm.

-     1st Meeting of the Media & Branding Committee was held on 10 March 2019 at 6:00 pm.

-     2nd Meeting of Committee on Professional Accountants in Business (PAIB) was held on 10 March 2019 at 6:30 pm.

-     2nd Meeting of the Membership Development and Mutual Collaboration Committee was held on 13 March 2019 at 4:30 pm.

-     2nd Meeting of the Committee for Amendment of CA Order, Bye-Laws and FRA was held on 13 March 2019 at 5:30 pm.

-     2nd Meeting of the Editorial Board (EB) was held on 19 March 2019 at 5:00 pm.

-     4th Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 20 March 2019 at 4:30 pm.

-     2nd Meeting of the Small & Medium Practitioners Committee (SMP) was held on 25 March 2019 at 5:30 pm.

-     2nd Meeting of the Members Issues, Services & Welfare Committee (MSWC) was held on 27 March 2019 at 6:00 pm.

-     2nd Meeting of the ICAB Management Reforms, Project Development & Capacity Building was held on 31 March 2019 at 5:30 pm.

Standing and Non-Standing Sub-committees:

-     1st Meeting of the 11 Members Articled Students (ASC) Sub-committee was held on 02 March 2019 at 5:00 pm.

Wish you all the best.

 

 

 

 

A F Nesaruddin FCA

President

 

Update Date : 16/04/2019

  President’s Communication : February 2019


Dear Fellow Members
Assalamu Alaikum,

The month of February has the significance of 'Ekushey' which is synonymous with 'Ekushey February', the day we observed and honor those who sacrificed their lives on 21st February 1952, simultaneously sowing the seeds of the independence movement which was to free East-Bengal from the then Pakistani rulers. In the world's history, no other nation has had to struggle so much, shed so much blood to hang onto their right to speak their Mother Tongue. The lesson from our glorious language movement is our most precious national pride, which always inspires us. We observed the day with due solemnity.

 

Dear fellow members, our Institute is an organization to be proud of and I want to see ICAB is playing very constructive role in nation building and respected everywhere. Although the Institute is currently facing some challenges, but we are more than capable of addressing these prudently and transforming these challenges info opportunities. I look forward to contributing further to the endeavors taken by my predecessors and I hope that during my time in office as president I will be able to foster on our already strong name-ICAB.

 

Now, let me give a brief on major activities undertaken during the month of February 2019. First of all, my heartiest congratulations to Newly Qualified CAs who have made a fantastic set of results in November-December 2018 session. I wish their successful career and true contribution to the national economy and the CA profession in particular.

 

13 February 2019, under prior credit learning program, ICAB allows subjects waiver for students of the Institute of Business Administration (IBA)-Dhaka University and in this regard we have come into an agreement at a formal ceremony held at IBA auditorium. Besides, we shall work with a view to cooperating each other through combining expertise and resources, and to accelerate the development of the accountancy and finance profession in Bangladesh. It is a remarkable development of the Institute indeed.

 

24 February 2019, New York, as the President I represent ICAB at CEOs meeting of CA Worldwide (CAW) and made a presentation on “SMPs in the Emerging Economies” besides my introductory deliberation on ‘Institute and Market Development’.

 

Most importantly I am pleased to inform you that I had an exclusive meeting with Mr. Michael Izza, Chairman-CAW and Chief Executive of the Institute of Chartered Accountants in England and Wales(ICAEW), and Mr. Vernon Soare, Chief Operating Officer of ICAEW. We discussed mainly the capacity building of ICAB and its strategic plan for 10 years - how ICAEW can help and support ICAB.

 

18 February 2019, we paid a courtesy call on Finance Minister Mr. AHM Mustafa Kamal, who is also a Chartered Accountant and proud member of ICAB. We delightfully conveyed warm greetings to him for being appointed Finance Minister. Effectively we held a meeting with him to discuss issues relating to professional matters. Vice Presidents Mr. NKA Mobin FCA, Prof. Dr. Md Salim Uddin FCA, Mr. Md. Moniruzzaman FCA and Secretary Major General Muhammad Imrul Quayes, ndc, psc(Retd) were being with me during the meeting.

 

12 February 2019, another courtesy call was made on Mr. CQK Mustaq Ahmed, Chairman of the Financial Reporting Council (FRC) at his office. Vice Presidents Mr. NKA Mobin FCA, Prof. Dr. Md Salim Uddin FCA, Mr. Md. Moniruzzaman FCA, Council Members Mr. Md. Muhammad Farooq FCA, Mr. Md. Shahadat Hossain FCA, Mr. Mohammed Forkan Uddin FCA and Secretary Major General Muhammad Imrul Quayes, ndc, psc(Retd) also accompanied me during this visit.

 

14 February 2019, another program on ‘Career Excellence Seminar & MoU Signing Ceremony’ was held at BRAC University auditorium. BRAC University has come under a collaboration with ICAB regarding subjects’ waiver for graduate or post graduate students and to work with any other areas relating to education, training, workshop, research, higher studies as mutually agreed by the two Institutes.

 

20 February 2019, workshop on ‘Advanced Scholastic Valuations’ (Business and Assets Valuation) was held at ICAB Auditorium. Dr. Fernando Scarpati, Managing Director, Business Valuation International (BVint) was the resource person. Among others I was present in closing ceremony. It was a wonderful session and no doubt, members would be benefited from this workshop.

 

02 February 2019, the closing ceremony of the Advanced Level training on IFRS & IAS was held. As the Chief Guest Mr. SM Rejoan Hossain, Additional Secretary (Admin), Ministry of Commerce, GoB was present. Recurrently ICAB holds this training every year. Updates of IFRS & IAS were discussed in the session.

 

16 February 2019, I attended a launching ceremony of “Recollections of a Civil Servant –Turned Banker” authored by Md. Matiul Islam, FCA. Mr. Islam is the country’s first Finance Secretary and one the of top bureaucrats who took the challenges and responsibility of rebuilding the war torn new born Bangladesh. We are really proud of him.

 

17 February 2019, Muktir Sangram’ authored by Md. Shahadat Hossain FCA was launched at a ceremony where I was present as the Special Guest. Mr. Shahadat Hossain has two other books in his credit namely ‘Bangabandhu-O-Bangladesher Arthonity’, and ‘Accountability for Economic Development’. Typical professional Accountants are engrossed with mathematical data, calculation of income, revenue & expenditure and above all ethical code of conduct. However, Mr. Md. Matiul Islam, FCA and Mr. Md. Shahadat Hossain FCA are extraordinary Chartered Accountants who cut a remarkable trace in their career.

 

You will be happy to learn that I have advised the ICAB executive team to preserve the books authored by our respected members at a place of ICAB premises apart from those books to be made available in library.

 

21 February 2019, the Dhaka Regional Committee (DRC) of ICAB organized an art competition, poetry recitation, free medical check-up for children and a discussion on language movement marking the Omar Ekushey and the International Mother Language Day at ICAB auditorium.

 

Eminent literary and journalist Mr. Fazle Lohani graced the occasion as the chief guest and Professor Dr. Biswajit Gosh, Vice Chancellor of Robindra University as guest of honour.

 

Among others, I was present in the meeting and recalled the contributions of language veterans and also reiterated our commitments to build the nation with the spirit of this movement. At the end I distributed few prizes to the winners along with the chief gust and the special guest.

 

At dawn of 21st February, as President I joined a rally organized by ICAB to place floral wreath at the altar of Central Shaheed Minar in observance of Amar Ekushey and International Mother Language Day. Council Member Mr. Md. Shahadat Hossain FCA, Secretary Major General Muhammad Imrul Quayes, ndc, psc (retd) and DRC Chairman Mr. AHM Ariful Islam FCA, Secretary Md. Mr. Amran Hossan FCA, among others also attended the procession.

 

We Mourn: we are sadden by the demise of our fellow members Mr. Syed Mohammed Nurul Islam Meahji FCA (Enrl. No. 175), Proprietor of S N Meahji & Co., Chartered Accountants and Mr. Bimalendu Chakraborty FCA (Enrl. No. 425), Proprietor of B. Chakraborty & Co., Chartered Accountants. We prayed to Almighty Allah for eternal peace to the departed souls. May Allah give the bereaved family members to bear the irreparable loss.

 

Meetings of Council and Standing & Non-standing Committees and Sub-committees

 

The following meetings of the Council, Standing and Non-Standing Committees and Sub-committees of ICAB were held during the month of February 2019:

 

Standing Committees:

 

  • 1st Meeting of the Technical & Research Committee (TRC) was held on 6 February 2019 at 6:00 pm.
  • 1st Meeting of the Board of Studies (BoS) was held on 12 February 2019 at 6:00 pm.
  • 1st Meeting of the Articled Students Committee (ASC) was held on 13 February 2019 at 5:00 pm.
  • 2nd Meeting of the Examination Committee was held on 19 February 2019 at 11:00 am.
  • 2nd Meeting of the Council was held on 19 February 2019 at 1:00 pm.
  • 1st Meeting of the Quality Assurance Board (QAB) was held on 25 February 2019 at 5:30 pm.
  •  

Non-standing Committees:

 

  • 1st Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 2 February 2019 at 4:30 pm.
  • 1st Meeting of the Regulators & Trade Bodies Coordination Committee (RTBCC) was held on 5 February 2019 at 5:30 pm.
  • 1st Meeting of the Audit Committee was held on 11 February 2019 at 5:30 pm.
  • 1st Meeting of the Committee for Amendment of CA Order, Bye-Laws and FRA was held on 12 February 2019 at 6:00 pm.
  • 1st Meeting of the ICAB Management Reforms, Project Development & Capacity Building was held on 14 February 2019 at 6:00 pm.
  • 1st Meeting of the Committee on Professional Accountants in Business (PAIB) was held on 16 February 2019 at 6:00 pm.
  • 1st Meeting of the Continuing Professional Development Committee (CPDC) was held on 17 February 2019 at 6:00 pm.
  • 1st Meeting of the Small & Medium Practitioners Committee (SMP) was held on 17 February 2019 at 5:30 pm.
  • 1st Meeting of the Members Issues, Services & Welfare Committee (MSWC) was held on 18 February 2019 at 5:30 pm.
  • 1st Meeting of the Editorial Board (EB) was held on 18 February 2019 at 5:30 pm.
  • 1st Meeting of the Information & Communication Technology Committee (ICTC) was held on 18 February 2019 at 5:30 pm.
  • 1st Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 20 February 2019 at 5:30 pm.
  • 1st Meeting of the Regional Committees & Overseas Management Chapter Committee (RCOMCC) was held on 24 February 2019 at 6:00 pm.
  • 1st Meeting of the Women in Leadership (WIL) was held on 26 February 2019 at 5:30 pm.
  • 1st Meeting of the Taxation & Corporate Laws Committee (TCLC) was held on 26 February 2019 at 6:00 pm.
  • 1st Meeting of the Membership Development & Mutual Collaboration Committee (MDMCC) was held on 27 February 2019 at 5:30 pm.

 

Standing and Non-Standing Sub-committees:

 

  • 1st Meeting of the ERP Project Steering under the Information & Communication Technology Committee (ICTC) Sub-Committee was held on 13 February 2019 at 6:00 pm.

 

Wish you all the best.

 

A F Nesaruddin FCA

President

 

Update Date : 14/03/2019

  President’s Communication : January 2019


Dear Fellow Members
Assalamu Alaikum,

First of all, I am very grateful to Almighty Allah who has given me the opportunity to serve this prestigious Institute as President for 2019. My special gratitude and sincere thanks to the Members of the Council for bestowing the honor on me as President of ICAB. More importantly, I would like to thank the Members of this fraternity for re-electing me to the Council 2019-21.

In our current journey specially for 2019, I am very happy to have experienced Past Presidents, Council Members and three Vice-Presidents as my teammates whose combined efforts, extensive professional knowledge, experience, acumen and abilities would definitely help to achieve our desire goals in developing the Institute and the profession as a whole and to take it to further heights.

 

Dear members, in recent times, ICAB has been facing some new challenges but as the Captain of the team for the year 2019, I believe that we shall be able to meet these challenges successfully and make efforts to convert these challenges into opportunities. Council members and other members outside the council are giving their valuable time for ICAB for various committee meetings and decision making process. Incidentally, implementation process is slow and to ensure the proactive role of the Institute for development of profession, ICAB management needs to be restructured and corporatized. The organogram as well as the job responsibilities of the officials need to be amended to cope up with the diversified needs of the Institute. This is the need of the time. I am very happy to inform you that the Council in its 1st meeting unanimously accepted my proposal to undertake a reform program and capacity building of ICAB. A new committee has been formed with terms of reference under the Chairmanship of the President and the committee has already started functioning. In addition, few new committees have been proposed and approved by the Council for addressing some of the long pending  vital issues. Further, some of the committees were not functioning well considering very limited terms of reference or irrelevant in the present context. Accordingly, those committees have been reorganized. 

 

In view of the above scenario, considering the role and present requirements, the Council has brought the following changes in its existing Committees”

1.   “The Committee for Amendment of CA Order and Bye-Laws” has been renamed as “The Committee for Amendment of CA Order, Bye-Laws and FRA” after inserting the word “FRA”.

2.   “The SAFA, CAPA & International Affairs Committee" and “ICAB-ICAEW Coordination Committee” have been merged  to one committee named “International & Regional Affairs Committee”;

3.   “The Committee on Public Finance and Public Sector Accounting" has been merged with “Professional Development Committee”; and

4.   “The Member Services & Welfare Committee" has been renamed as “Member Issues, Services & Welfare Committee” after inserting the word “Issues”.

 

I would like to reiterate that the Institute has been facing challenges in attracting brilliant students to CA profession. The branding activities of the Institute have been increased prominently but we are still struggling to change public perception about CA profession. Our members working in different parts of the world are facing some problems and these need to be addressed in a concerted manner. Considering these issues in mind, the Council has formed the following new Committees with required terms of reference:

 

1.   Membership Development and Mutual Collaboration Committee;

2.   Regional & Overseas Management Chapter Committee; and

3.   Regulators and Trade Bodies Coordination Committee.

 

Moreover, the basic role of the Institute is to regulate the accounting profession in the Country. There are huge number of Course Completed and part qualified CA professionals in Bangladesh. In many countries in the world including our neighboring countries, they have been brought under regulations. CAPA also recommends this issue in same tone. Accordingly, a new committee named “Task Force on Non-member CA Professionals” with terms of reference has been formed. After getting committee recommendations, the Council will decide next course of action and if need be, opinion of the general members will be taken in due course.

 

The Council has already approved the formation of its Committees together with new or revised terms of reference with appreciation. It also approved the Chairman and the Co-chairman of all the standing and non-standing Committees in its first meeting for the year 2019. By the by, respective Committee Chairman has been requested to induct 4/5 members of his choice to make the committees more functional and effective. Now, all the standing and non-standing Committees of the Council are finalized inducting other members and designating Members Secretaries in the respective committees. Most of the committees are scheduled to hold 1st meeting by the 3rd week of the month of February 2019.

 

Dear members, I solicit your valued contributions to the development of our beloved Institute and expect that all of you will extend cooperation in the same way you did in the past. During my tenure, I assure you that there will be no lack of determination, hard work and commitment to understand the needs and to serve the Institute.

 

Now, let me to give a brief on major activities undertaken during the month of January 2019. Under a Memorandum of Understanding, ICAB with the support of the Government of Japan and in partnership with International Finance Corporation (IFC, World Bank Group) organized Training of Trainers (ToT) program at CA Bhaban. Barrister Sheela R. Rahman and Lopa Rahman both from IFC were actively involved together with ICAB team to make the event successful. The 3-day training sessions were attended by past presidents, and senior members of the Institute. As Chief Guest I had the privilege to hand over certificates to the participants at the closing session. Along with me as a special guest Mr. Yasuharu Shinto (Counsellor), a representative from the Embassy of Japan to Bangladesh distributed few certificates to the participants as well.

 

13 January 2019, in an introductory meeting newly appointed Commerce Minister Mr. Tipu Munshi MP, we exchanged greetings and discussed precisely the matters relating to country’s trade, commerce and the CA profession as a whole. The Minister assured us that both the Ministry of Commerce and ICAB will continue to work together for development of the country.

 

21-22 January 2019, ICAB delegates participated in SAFA Events and the National Cost Convention which were sponsored by the Institute of Cost Accountants of Indian in Pune, India. As President - ICAB, I attended the inaugural session of SAFA Meetings, Assembly and Committee Meetings and had the opportunity to deliver a short speech on behalf of ICAB focusing the role of professional accountants in the recent economic development and growth in the South Asia. We feel very proud of that the   Bangladeshi entities got highest number of prizes even beating India in SAFA Best Published Annual Reports 2017 Award completion in Pune. It is a quite remarkable achievement. Congrats-the Award Winning Companies! I believe all credit goes to fellow Chartered Accountants who are the main contributors to this improvement supported by the Directors and Regulators. Also in the SAFA Quiz & Elocution Contest this year, Bangladesh representative cut the edge and won the 1st runner up prize. Congrats him too!

 

 In the sideline of SAFA events, we had a meeting with CAPA President Mr. Manoj Fadnis and CAPA Executive Director Ms. Elaine Hong on 21 January 2019 at Hotel Marriott, Pune. We discussed different professional issues, forthcoming CAPA events in India & Sri Lanka and possibility of holding a CAPA event this year in Bangladesh.

 

As we know, after world economic debacle in 2009 there was a growing concern to make the auditor’s report users friendly. In that aspect, International Standards on Auditing (ISA) 700 was revised. ICAB has adopted this Standards and other relevant Standards and Pronouncements including the Standards relating to new format of Auditor's Report which are effective for audits of financial statements for annual periods beginning on or after 1 January 2018. To implement this Standard in Bangladesh, the stakeholders may face some challenges. With a view to assisting them, ICAB has developed a tabular format and some templates on new Auditor's Report. To disseminate the knowledge on new auditor’s report, a technical conference on ‘Implementation of New Auditor’s Report for Bank and NBFI: challenges and way forward’ was organized at CA Bhaban on 12 January 2019. The learned keynote presenter discussed the key changes in International Standard on Auditing 700(revised), key features of the new auditor’s report and implementation challenges in Bangladesh. Members took part in a very interactive floor discussion.  It was a very successful program, indeed.

 

Meetings of Council and Standing & Non-standing Committees and Sub-Committees

 

The following meetings of the Council and Standing Committee were held during the month of January 2019:

 

Standing Committees:

 

-     1st Council Meeting was held on 8 January 2019 at 5:00 pm.

-     1st Examination Committee Meeting was held on 17January 2019 at 5:30 pm.

-     1st Executive Committee (EC) Meeting was held on 27 January 2019 at 5:00 pm.

 

Wish you all the best.

 

A F Nesaruddin FCA

President

 

 

Update Date : 12/02/2019

  President's Messages


Dear Fellow Members,
Assalamu Alaikum,

Greetings to you all, my special gratitude and sincere thanks to the Members of the Council for bestowing the honour on me as President of ICAB. More importantly, I would like to thank the Members of this fraternity for re-electing me to the Council 2019-21. I am very happy to have  an experienced teammates; three Vice-Presidents whose  extensive professional knowledge, experience, acumen and abilities would definitely benefit the members of this Institute and the nation as whole. I believe, unity is power and  our collective efforts would lead the Institute to a new heights of excellence in the year 2019.

 

Update Date : 27/01/2019

President's Communication: December- 2018

Assalamu Alaikum and greetings to you all!!

Dear Fellow Members,

Assalamu Alaikum and Greetings to you all,

 Dear fellow members, I am going to signoff as president of this great institute as the year ends. New leadership will come in as it does every year. I am sure you will be offering the similar cooperation as you did to me.

 

Throughout the year the Institute has worked on many folds and we tried to deliver the best of our ability. However, I believe that there are always better ways for doing things.

 

Throughout the year a good number of reforms & initiatives have been taken. Some we could finish, some are not. Now it is time for new committee to further the momentums of the wheel of development.

 

Having expressed my last days feeling, let me say we were packed with large no of prgramme and we had hectic days & might to materialise those events.

 

With color & festivity members elected the new Council 2019-21; the council intern elected Mr. AF Nesaruddin FCA as President and Mr. NKA Mobin FCA, Dr. Md. Salim Uddin FCA and Mr. Md Moniruzzaman FCA as Vice Presidents of the Institute for the year -2019. Congratulations to them! We wish them the success in all folds.

 

The 46th Annual General Meeting (AGM) of ICAB was held on 22 December 2018 at the ICAB Auditorium, under the chairmanship of myself. At the outset of the meeting, members observed a minute silence and paid tributes to the departed souls of members including Mr. AK Chowdhury FCA. At the last part of the AGM, members had an active participation in the meeting.

 

I along with Vice Presidents 2018 and President & Vice Presidents elect 2019, Council Members, Past Presidents, Members and their spouses took part in Members’ Night 2018 programme at InterContinental, Dhaka on 22 December 2018. This year the Night was adorned with colorful banners and festoons, colorful lights. Renowned celebrities singers performed. We honoured some of our outgoing Council Members who are retiring. We wished them happy and healthy lives. The members & spouses and their relatives enjoyed the Night. The programme was followed by a sumptuous Dinner.

 

ICAB organized the 18th ICAB National Award ceremony for Best Presented Annual Report 2017 at a glittering event at a city hotel on 24 December 2018. The Presence of honorable Finance Minister Mr. AMA Muhith as the Chief Guest has made the occasion a unique one amidst the presence of a number of Special Guests namely Mr. Abdur Rouf Talukder, Finance Secretary, Finance Division, Ministry of Finance, GoB, Mr. Md. Ashadul Islam, Secretary, Financial Institutions Division, Ministry of Finance,

 

GoB, Mr. Mohammad Muslim Chowdhury, Comptroller and Auditor General of Bangladesh, GoB and Mr. C. Q. K. Mustaq Ahmed, Chairman, Financial Reporting Council (FRC) as Special Guests. We were very grateful to them all for giving us your precious time in this gala event. We congratulated the award winners who competed among 110 listed and non listed companies’ for their annual reports and became 1st, 2nd and 3rd. I also thanked Mr. Muhammed Farhad Hussain FCA, Chairman, Review Committee for Published Accounts & Reports under whose leadership the programme became a very successful and flawless one. Every turned out to be very perfect. All involved in the BPA deserves more than appreciation.

 

on behalf of ICAB and IFC Country Manager (Bangladesh, Bhutan and Nepal), Ms. Wendy Werner, CFA signed a ‘Cooperation Agreement’ relating to Board Leadership and Corporate Governance for Training of Trainers to ICAB members with special emphasis to female members on 19 December 2018. ICAB Council Members and Past Presidents Mr. Muhammed Farhad Hussain FCA, Ms. Parveen Mahmud FCA, Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd.), Project Manager Ms. Lopa Rahman, Ms Sheela Rubina Rahman, Consultant, Corporate Governance Advisory Services, South Asia Region and other IFC officials also witnessed the ceremony.

 

ICAB hosted a Dinner in honour of SAFA delegates from India, Nepal and Sri Lanka at Hotel InterContinental, Dhaka on 10 December 2018. The delegates from the SAARC Countries attended the SAFA CFO International Conference organised by ICMAB in Bangladesh recently.

 

Like the other years ICAB awarded 40 meritorious children of ICAB members and employees for their brilliant results in public examinations in 2018 under the auspicious of Members Services and Welfare Committee (MSWC) of the Council-ICAB on 13 December 2018.

 

We had distinguished Professor Dr. Md. Akhtaruzzaman, Vice Chancellor University of Dhaka as the chief guest and eminent journalist & writer Mr. Anisul Hoque, Associate Editor, Prothom-Alo as the Special Guest in programme. Their presence illuminated the event and enlighten the audience by their thoughtful speeches. I along with MSWC Chairman Mr. Mostafa Kamal FCA, Council Members and Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd) were also present in the event and had opportunity to speak few inspirational words to the awardees who will be the future leaders of the country.

 

I congratulated Mr. A.H.M. Ariful Islam FCA and Mr. Md. Amran Hossan FCA who have been elected Chairman and Secretary respectively of Dhaka Regional Committee (DRC) of ICAB. I believe DRC activities will get a new dimension under their leadership in 2019. At the same time I also congratulate CRC-ICAB Mr. Imran Abu Hasan FCA and Mr. Mohammad Shaheed FCA on being elected as the Chairman and the Secretary respectively or the year 2019.

 

 

Discussion and cultural programme were organized by Dhaka Regional Committee (DRC)-ICAB in observance of Victory Day of Bangladesh on 16 December 2018 at ICAB Auditorium where I along with Vice President Mr. Mahamud Hosain FCA, Past President & Council Member Mr. M Farhad Hussain FCA, Council Member Mr. Md Shahadat Hossain FCA, Past President Mr. G Kibria FCA, Secretary Maj Gen Muhammad Imrul Quayes (Retd.) were present. DRC observed the Victory Day in a befitting manner.

 

Meetings of Council and Standing & Non-standing Committees and Sub-committees

The following meetings of the Council, Standing, Non-Standing Committees and Sub-committees of ICAB were held during the month of December 2018:

 

Standing Committees:

* 16th Meeting of the Council was held on 1 December 2018 at 5:00 pm.

* 5th Meeting of the Technical & Research Committee (TRC) was held on 4 December 2018 at 5:30 pm.

* 17th Meeting of the Council was held on 9 December 2018 at 10:30 am.

* 6th Meeting of the Board of Studies (BoS) was held on 12 December 2018 at 6:00 pm.

* 12th Meeting of the Investigation and Disciplinary Committee (IDC) was held on 12 December 2018 at 5:30 pm.

* 6th Meeting of the Technical and Research Committee (TRC) was held on 17 December 2018 at 5:30 pm.

* 6th Meeting of the Executive Committee (EC) was held on 18 December 2018 at 5:00 pm.

* 18th Meeting of the Council was held on 22 December 2018 at 2:30 pm.

* 7th Meeting of the Executive Committee (EC) was held on 27 December 2018 at 4:30 pm.

19th Meeting of the Council was held on 31 December 2018 at 5:00 pm.

7th Meeting of the Articled Students Committee (ASC) was held on 31 December 2018 at 6:00 pm.

 

Non-standing Committees:

* 4th Meeting of the Review Committee for Published Accounts &Reports (RCPAR) was held on 2 December 2018 at 6:30 pm.

* 4th Meeting of the Committee for Amendment of CA Order & Bye-Laws was held on 5 December 2018 at 5:30 pm.

* 4th Meeting of the Audit Committee was held on 8 December 2018 at 5:30 pm.

* 2nd Meeting of the Committee for Small and Medium Practitioners (SMP) was held on 12 December 2018 at 5:30 pm.

* 5th Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 17 December 2018 at 6:00 pm.

* 4th Meeting of the Editorial Board (EB) was held on 19 December 2018 at 5:30 pm.

Standing and Non-standing Sub-committees:

* Members Services & Welfare Committee (MSWC) Sub-committee was held on 4 December 2018 at 6:00 pm.

* 4th Meeting of the Articled Students Committee (ASC) 10-Members Sub-committee was held on 5 December 2018 at 5:30 pm.

 

No more today. Wish you all peace, happiness and prosperity for everyone.

 

 

 

Dewan Nurul Islam FCA

President

Update Date : 10/01/2019

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