President's Communication: November 2017

President's Communication: November - 2017

Dear Fellow Members,
Asalamu Alaikum and greetings to you all.

As my year as President reaches its last few days, the foremost thought on my mind is the wonderful and enriching year it has been for me. We did not accomplish all that we set out to do, but I learned a lot more than I expected to learn. I learned what a sincere, positive and hardworking Council we have. Every innovation was positively received by the Council members; every target was met with sincere effort, focus and determination.


In these 11 months I have also learned that ICAB is truly fortunate to have amongst its executive team people who continually place the interest of ICAB ahead of their personal interests or their personal time. With practically no words of encouragement, and little or no rewards, so many of these men and women work tirelessly for the cause of our Institute and our profession. I have been truly humbled by this dedication to duty.


In these 11 months I have also learned what an important role DRC and CRC play for the Institute and the profession. So many of our key functions, eg. our examinations, or new activities, eg SAFA Quiz, Student Summits etc. are very efficiently managed because of their enthusiasm and efforts.


Now I want to briefly share with you the events that took place in the month of November 2017. ICAB successfully organised the ‘17th ICAB National Award Ceremony for Best Presented Annual Reports 2016’ at a glittering event at the Pan Pacific Sonargaon Hotel on 25 November 2017. This year a new category- ‘Diversified Holdings’ was introduced in the list for awards. My thanks and gratitude to the Hon’ble Finance Minister Mr. Abul Maal A. Muhith, MP and to the Hon’ble Commerce Minister Mr. Tofail Ahmed, MP for being present as Chief and Special guest at the event.


I am grateful to the Comptroller and Auditor General, Mr. Masud Ahmed and to FRC Chairman, Mr. CQK Mustaq Ahmed, who gave us their precious time to join the occasion as Guests of Honor.


With inclusion of both listed and non-listed entities, this year, a total of 28 entities, in 13 different categories, reached the benchmark to win the ICAB awards.


My congratulations to the award winners and the participants in the competition. The top three winners will be nominated to compete in the upcoming SAFA Award.


Chairman-RCPAR Ms. Parveen Mahmud FCA deserves much appreciation not just for spearheading this whole process, but also for introducing a Jury Board, which enhanced transparency and acceptability of the awards. The respective committees had to put in a lot of effort to complete their tasks.
 


We launched CA Women’s Forum at a tasteful and unusual event at Pan Pacific Sonargaon Hotel, Dhaka on 25 November 2017, in which we celebrated the number of female CA qualified members crossing the one hundred landmark under the theme - ‘Beautiful Day’. The CA Women’s Forum has been formed to attract more women into our profession, to address our women members’ and students’ specific needs and to bring women business and community leaders closer to our profession. Again thanks to Ms. Parveen Mahmud FCA, who led this initiative.


I must convey my special thanks to Dr. Gowher Rizvi, Adviser to the Prime Minister and Sir Fazle Hasan Abed, Founder and Chairperson, BRAC for giving their valuable time at the event and for inspiring us to move forward with this Forum.


ICAB and Department of Accounting and Information Systems, Jahangirnagar University (JU) signed a Memorandum of Understanding (MoU) on 26 November 2017 to allow exemption on few subjects of CA study modules to the students of Department of AIS of Jahangirnagar University subject to fulfilling certain criteria.


Under this MoU, the students will be eligible for exemption in accounting, Business and Finance and Management Information subjects of knowledge level.


In the presence of JU Vice Chancellor Professor Dr. Farzana Islam, JU Treasurer Mr. Sheikh Md. Monzurul Huq and I signed the MoU. ICAB Vice President Mr. Mostafa Kamal FCA, Council Member & Past President Mr. Muhammed Farhad Hussain FCA, Council Member Mr. Mahmudul Hasan Khusru FCA, Secretary Major General Muhammad Imrul Quayes (Retd) and other faculty members of the department were present in the occasion. Later, a seminar was held with participation of students. The discussion emphasized on how the students will be benefited from this MoU.


Members’ conference on corporate leadership was held on 14 November 2017 at CA Bhaban auditorium where Wg Cdr Md. Tabarak Hossain Bhuiyan, psc (Retd), Managing Director & CEO, Prime Bank Investment Limited (PBIL) presented keynote paper. I delivered the welcome speech while ICAB Member Council & Past President Mr. Muhammed Farhad Hussain FCA conducted the conference as Session Chairman. ICAB Vice President Mr. Md. Mahamud Hosain FCA gave concluding remarks.


ICAB observed the International Accountancy Education Day 2017 for the first time on 10 November 2017. Commemorating this day a rally was brought out by the Institute which was attended by pupils from different CA firms, prominent public and private universities.


ICAB Centre for Professional Excellence (ICPE) organized Workshop on Transfer Pricing Regulations & Practice on 11 November 2017. A total of 40 participants participated in the Workshop. Mr. Muhammad Mehedi Hasan FCA, Partner and Mr. Md. Kamruzzaman ACA, Manager, both from Rahman Rahman Huq, Chartered Accountants, were the resource persons.


I had an official visit to Chittagong along with high officials of ICAB on November 17 and November 18. I, along with several ICAB members including Vice President Mr. Moddassar Ahmed Siddique FCA, Mr. Mostafa Kamal FCA and Mr. Md. Mahamud Hosain FCA, Past President Mr. Showkat Hossain FCA, Mr. AF Nesaruddin FCA, Chairman, Real Estate Committee of ICAB, Mr. Alihussain Akberali FCA, Chairman, BSRM Group of Companies, Mr. Muhammad Aminul Hoque FCA, Chairman, Dhaka Regional Committee and Mr. Mohammed Reazul Kabir FCA, Chairman, Chittagong Regional Committee inaugurated the newly renovated ICAB CRC Library, newly set up Computer Lab and Members’ lounge.


In the Evening on the same day, I joined a CPD seminar on Supply Chain Management for Financial Professional which was organized by Chittagong Regional Committee. Mr. Naquib Khan, President, Bangladesh Supply Chain Management Society (BSCMS) and Corporate Affairs Director, Nestlé Bangladesh presented the Keynote paper.


On November 18, 2017, I participated at the ‘ICAB Student Summit 2017’, organized by the Chittagong Regional Committee at Hall 24, Chittagong, for the university students. This is a one of its kind event and for the very first time held in Chittagong. It was designed to encourage the university students about the Chartered Accountancy Profession. A large number of university students and university teachers attended this programme. This student summit created a festive moods among the students and drew much interest.


A number of CA Firms put up stalls in the venue. They provided various leaflets as well as answered the queries of student’s attending the Summit. ICAB-CRC successfully organized the Summit, which will remain as landmark event.
 

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 November 2017:

 

Standing Committees:

-    11th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 04 November 2017 at 11:00 am.
-    Joint Meeting of Technical & Research Committee (TRC) and Professional Development Committee (PDC) were held on 9 November 2017 at 6:00 pm.
-    2nd Second Meeting of the Articled Students Committee (ASC) was held on 28 November 2017 at 6:00 pm.
-    7th Meeting of the Executive Committee (EC) was held on 29 November 2017 at 4:30 pm.

 

Non-standing Committees:

-    3rd Meeting of the Continuing Professional Development Committee (CPDC) was held on 15 November 2017 at 5:00 pm.
-    4th Meeting of the Committee for Amendment of CA Order & Bye-Laws was held on 17 November 2017 at 5:30 pm.
-    2nd Meeting of the Members Services & Welfare Committee (MSWC) was held on 28 November 2017 at 5:00 pm.

 

Standing and Non-standing Sub-committees:

-    Board of Studies (BoS) Sub-committee meeting was held on 12 November 2017 at 7:00 pm.
-    1st Meeting of the Council Sub-committee regarding to standardize the disciplinary actions taken by the Council was held on 13 November 2017 at 5:30 pm.

 

With best wishes to all,


Adeeb Hossain Khan FCA
President-ICAB

 

Update Date : 12/12/2017

President's Communication: October - 2017

Dear Fellow Members,
Asalamu Alaikum and greetings to you all.

The month of October was an eventful month with a series of trainings, workshops and seminars. I am pleased to share with you some details on these:


Dhaka Chamber of Commerce and Industry (DCCI) organized a seminar titled: Financial Reporting Act 2015 and Its Economic Implication at its auditorium on 23 October 2017. The Chairman of the Financial Reporting Council (FRC) Mr. CQK Mustaq Ahmed was the chief guest. I was invited as a special guest along with ICMAB President, and our Council Member Mr. Md. Shahadat Hossain FCA was the key note speaker. I must congratulate Council Member Shahadat on his rich paper, which was very well received. We exchanged our views and experiences regarding accountancy profession in the country and the global scenario perspectives.


I emphasised that ICAB welcomes and supports all initiatives designed to enhance the quality of financial reporting in Bangladesh. I stressed that FRC will be successful in its mission if it concentrates where inadequacies and gaps exist, while letting existing effective oversight and regulatory mechanisms to operate as they are.


ICAB training wing ICPE organized two training programmes which concluded this month. Training programme on International Financial Reporting Standards (IFRS) & International Accounting Standards (IAS) for the ICAB members and the officials of other stakeholders ended on 14 October 2017. 40 members participated in the training. ICAB Vice-President (E &T) Mr. Mostafa Kamal FCA awarded the certificates to the trainees.


Another training programme on Cyber Security, Enterprise Information Risk Management and Regulatory Compliance for the ICAB members and the officials of other stakeholders was concluded on 12 October 2017 at ICPE training room. 40 participants received the training. I strongly believe not only should our members become familiar with this major current global issue, but it also presents opportunities for our members, whether they are in public practice or corporate sector. We were fortunate to have a highly experienced resource person. I along with Vice-President (E &T)Mr. Mostafa Kamal FCA, Secretary Maj Gen Muhammad ImrulQuayes, ndc, psc (retd) and the resource person Dr. EM Pannah were present in the certificate awarding ceremony. I awarded the certificates to the participants.
As part of observing the World Investors’ Week, the Institute organized a members’ conference on ‘Capital market & economy; role of investors’ at ICAB Auditorium on October 6, 2017.


Prof. Dr. M. Khairul Hossain, Chairman, Bangladesh Securities and Exchange Commission(BSEC) graced the occasion as the Chief Guest. Three BSEC Commissioners Prof. Md. Helal Uddin Nizami, Mr. Md. Amzad Hossain, Commissioner and Dr. Swapan Kumar Bala FCMA were present and spoke as Special Guests.


Mr. Saifur Rahman, Executive Director, BSEC and Mr. K. A. M Majedur Rahman, Managing Director, Dhaka Stock Exchange Ltd were also present as Guests of Honour. Mr. Md. ShaifurRahman Mazumdar FCA, FCMA, Member Council -ICAB conducted the seminar as the Session Chairman. Dr. Prashanta Kumar Banerjee, Professor & Director, Research Development andConsultancy, Bangladesh Institute of Bank Management (BIBM) presented the Key-note paper. ICAB Vice President Md. MahamudHosain FCA gave concluding remarks.


I was recently interviewed by the United News Agency. The details of the Interview can be found in the weblink http://www.unb.com.bd/special-news/Country-needs-more-CAs-as-economy-growing-fast-ICAB-chief%C2%A0/53980.
 


The grand finale of SAFA Quiz and Elocution Contest 2017 was held on 13 October 2017 which was organized by Dhaka Regional Committee(DRC)-ICAB at ICAB Auditorium in a befitting manner. I along with Vice Presidents, Council Members and DRC office bearers were present in the programme. I handed over the crests to the contest winners&runner-ups.

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 October 2017:

Standing Committees:
-    6th Meeting of the Articled Students Committee (ASC) was held on 03 October 2017 at 6:00 p.m.
-    6th Meeting of the Executive Committee was held on 11 October 2017 at 6:00 p.m.
-    3rd Meeting of the Technical Research Committee (TRC) was held on 15 October 2017 at 5:30 p.m.
-    15th Meeting of the Council was held on 16 October 2017 at 5:00 p.m.
-    16th Meeting of the Council was held on 25 October 2017 at 5:00 p.m.

 

Non-standing Committees:

-    1st Meeting of the Human Resources (HR) was held on 01 March 2017 at 5:30 pm.
-    3rd Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 03 March 2017 at 6:00 pm.
-    1st Meeting of the Professional Development Committee (PDC) was held on 09 March 2017 at 5:30 pm.
-    1st Meeting of the Committee for Small and Medium Practitioners (SMP) was held on 15 March 2017 at 5:30 pm.
-    2nd Meeting of the Human Resources (HR) was held on 27 March 2017 at 4:30 pm.

 

Standing and Non-standing Sub-committees:
-    2nd Meeting of the SAFA, CAPA and International Affairs Committee was held on 02 October 2017 at 5:00 p.m.
-    4th Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 03 October 2017 at 5:30 p.m.
-    5th Meeting of the Media & Branding Committee was held on 11 October 2017 at 5:00 p.m.
-    3rd Meeting of the Committee for Amendment of CA Order & Bye-Laws was held on 12 October 2017 at 5:30 p.m.

-    3rd Meeting of the Real Estate Committee (REC) was held on 15 October 2017 at 6:00 p.m.
-    3rd Meeting of the Small and Medium Practioners (SMP) was held on 15 October 2017 at 6:15 p.m.
-    3rd Meeting of the Committee for Women in Leadership was held on 17 October 2017 at 5:00 p.m.
-    5th Meeting of the Information & Communication Technology Committee (ICTC) was held on 18 October 2017 at 5:00 p.m.
-    5th Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 22 October 2017 at 5:30 p.m.
-    5th Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 22 October 2017 at 6:00 p.m.
-    3rd Meeting of the Members Services & Welfare Committee (MSWC) was held on 23 October 2017 at 5:00 p.m.
-    3rd Meeting of the Audit Committee was held on 24 October 2017 at 5:30 p.m.
 

Standing Committees:
-    1st Meeting of the Exemption Sub-Committee regarding Articled Students (ASC) was held on 02 October 2017 at 6:30 p.m.
-    4th Meeting of the Working Group on Professional issues related to Non-Government Organization (NGOs) and MFIs of Professional Development Committee (PDC) was held on 05 October 2017 at 11:00 a.m.
-    1st Meeting of the 7-member Sub-committee regarding Members Services & Welfare Committee (MSWC) was held on 18 October 2017 at 5:30 p.m.
 

With best wishes to all,


Adeeb Hossain Khan FCA
President-ICAB

 

Update Date : 26/11/2017

President's Communication: September 2017

 

Dear Fellow Members,,
AssalamuAlaikum and greetings to you all.
I would like to share with you of our important activities during the month of September 2017. We had to keep our programmes limited in September because the office remained closed in the first week of the month for Eid-ul Azha. I hope members of this fraternity enjoyed the Eid vacation with the near and dear ones.

 

The Members’ Conference on ‘Changes in Income Tax brought by the Finance Act 2017’ was organised by ICAB at its auditorium on 14 September 2017.Mr. Md. Nojibur Rahman, Chairman, National Board Revenue (NBR) was present as the Chief Guest and three other members of NBR Mr. Md Lutfar Rahman, Barrister Jahangir Hossain, Mr. Parvez Iqbal remained present as Special Guests.

 

At the onset I delivered welcome speech while Dr. Jamaluddin Ahmed FCA, our past President, conducted the session as session chairman. Mr. Muhammad Mehedi Hasan FCA, Partner, Rahman Rahman Huq, Chartered Accountants presented the key note.

 

ICAB members discussed various changes in income tax law, brought by the Finance Act 2017 in floor discussion held after paper presentation. I believe the members benefited from this discussion.

 

Advisory Committee Meeting of the Council, ICAB was held at Hotel Pan Pacific Sonargaon, Dhaka on 17 September 2017. I made a short presentation about the activities of ICAB taken so far and the strategic plan for rest of the months of my tenure. I also sought guideline and advice from the Past Presidents regarding further advancement of the Institute.

 

I along with Mr. Mahbub Ahmed Siddique FCA, Director Technical, attended the World Standard-Setters (WSS) Conference on 25-26 September 2017 in London, UK in addition to meeting and signing agreement with International Financial Reporting Standards (IFRS) Foundation, the Chartered Institute of Public Finance and Accountancy (CIPFA), Chartered Accountants Worldwide (CAW) and the Institute of Chartered Accountants in England and Wales (ICAEW). The WSS Conference was jointly organized by IFRS Foundation and International Accounting Standards Board (IASB).

 

During my stay in London, I signed an “agreement for the supply of data for the adoption and publication of IFRS standards and IFRS for SMEs standard” with IFRS Foundation. IASB Chairman Hans Hoogervorst signed on behlf of IFRS Foundation. Mr. Siddique and Ms. Michelle Sansom, Technical Principal and National Standard Setters Relations of IASB, Anna Hemmant, Project Manager -Translation, Adoption & Copyright of IFRS Foundation were present during the signing ceremony.

 

We took part in another meeting with the Chair CIPFA Development Alan Edwards and CIPFA Head of Membership Alastair Barr on 27 September 2017 at CIPFA Head Office in London. The meeting discussed mutual collaboration between ICAB and CIPFA. CIPFA team expressed their willingness to work jointly with ICAB in Bangladesh in development of public sector financial management. They also agreed to cooperate with ICAB for opening a separate public-sector wing under ICAB leadership with a view to training, educating and examining public-sector personnel and awarding them with local public-sector qualification towards achieving CIPFA qualification and membership.

 

The CIPFA team also expressed their intention to provide training in public sector financial management (PSFM) and branding qualification and membership of CIPFA in Bangladesh through ICAB. They also showed their keen interest to work with ICAB in any upcoming PSFM project in Bangladesh.

 

We had a meeting with Sue Best, Secretary to the Board, Chartered Accountants Worldwide and Ruth Hidalgo, Senior Manager of CAW. We discussed how individual CA institute could work with CAW to promote the brand of CA globally.

 

I also signed a renewal of Memorandum of Understanding (MoU) with ICAEW President Nick Parker on 27 September 2017 at ICAEW office in London. ICAB Director Technical, ICAEW Chief Operating Officer Vernon Soare, and International Relationship Manager Sarah Prescott were also present in the occasion.

 

I also shared about ICAB’s progress, its current initiatives and future involvement for capacity building of the Institute and overall development of the profession. We also discussed about the relevant issues between the professional accountancy bodies and of Financial Reporting Council in Bangladesh and UK. I thanked for the support and guidance provided by ICAEW over the years since the inception of the ICAB-ICAEW twinning Project.

 

A teleconference between ICAB and CPA Australia was held on 7 September 2017 to discuss about CPA Australia Membership pathway for ICAB members. ICAB Vice President Mr. Mostafa Kamal FCA, Council Members Mr. Dewan Nurul Islam FCA, Mr. Gopal Chandra Ghosh FCA, Mr. Mahmudul Hasan Khusru FCA, Director(Technical) Mr. Mahbub Ahmed Siddique FCA, Mr. Abu Kibria from Australia and Mr. Rob Thomason, Executive General Manager, Education, CPA Australia were the participants of the teleconference. This was in connection with exemptions granted to ICAB members.

 

A 7 day-long intensive course on ‘Cyber Security, Enterprise Information Risk Management and Compliance’ started from 19 September at ICPE Training room. Considering the importance of IT, ICAB has organised a course on Cyber Security, Enterprise Information Risk Management and Compliance where 36 persons participated.

 

Major benefits of the course expected to be on understanding the following cybersecurity concerns - Confidentiality, Integrity, and Availability (CIA), the cyberspace, cyber threat, vulnerably, and cyber attack, the encryption, decryption, biometrics, and digital forensics, personally identifiable information, digital privacy, identity theft, and identity theft prevention, contingency plan, incident response plan, and digital risk management, etc.

 

Recourse person of the course is Dr. Em Pannah, Associate Professor, Cyber security & Information Assurance Department, University of Maryland, USA.

 

Sessions of the ‘Certificate Course on Information Systems Audit (IS Audit)’ - 2nd Batch is going on successfully and the course will continue up to 25 October 2017.Objectives of the IS Audit is to enhance the competence of professionals. 50 participants are participating in the course.

 

A six-day long training on ‘International Financial Reporting Standards (IFRS) & International Accounting Standards (IAS)’ has been started from 12 August at ICPE training room. The participants are enjoying the sessions. The course will continue till 14 October 2017.

 

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 September 2017:

 

Standing Committees:

 

        - 10th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 16 September 2017 at 11:00 a.m.
        - 14th Meeting of the Council was held on 17 September 2017 at 5:00 p.m.
        - 3rd Meeting of the Quality Assurance Board (QAB) was held on 20 September 2017 at 5:30 p.m.

 

Non-standing Committee:

 

        - 4th Meeting of the Media & Branding Committee was held on 09 September 2017 at 10:30 a.m.
        - 2nd Meeting of the Committee for Women in Leadership was held on 10 September 2017 at 5:30 p.m.
        - 4th Meeting of the Editorial Board (EB) was held on 12 September 2017 at 5:30 p.m.
        - 2nd Meeting of the Advisory Committee Meeting was held on 17 September 2017 at 7:30 p.m.
        - 2nd Meeting of the Committee on Public Finance and Public Sector Accounting (PF & PSA) was hel d on 21 September 2017 at 6:30 p.m.
        - 2nd Meeting of the Members Services & Welfare Committee (MSWC) was held on 18 September 2017 at 5:30 p.m.
        - 2nd Meeting of the Professional Development Committee (PDC) was held on 27 September 2017 at 5:30 p.m.

 

Standing and Non-standing Sub-committees:

 

        - 3rd Meeting of the 10-Members Articled Students (ASC) Sub-Committee was held on 12 September 2017 at 6:00 p.m.
        - 3rd Meeting of the ERP Project Steering Committee of Information & Communication Technology Committee (ICTC) was held on 13 September 2017 at 6:00 p.m.
        - 1st Meeting of the 5-Member Taskforce under Quality Assurance Board (QAB) was held on 17 September 2017 at 5:30 p.m.
        - 2nd Meeting of the Working Group on Professional issues related to Banks and Financial Institutions of Professional Development Committee (PDC) was held on 19 September 2017 at 5:30 p.m.
        - 3rd Meeting of the Working Group on Professional issues related to Non-Government Organization (NGOs) and MFIs of Professional Development Committee (PDC) was held on 20 September 2017 at 5:30 p.m.
        - 2nd Meeting of the Committee for Women in Leadership Working Group was held on 20 September 2017 at 5:30 p.m.
        - Meeting of Working Group of the Committee for Women in Leadership was held on 20 September 2017 at 5:30 p.m.
        - 6th Meeting of Renovation Committee was held on 21 September 2017 at 4:00 p.m.

 

                ---With best wishes to all

 

Adeeb Hossain Khan FCA
President

Update Date : 16/10/2017

President's Communication: August 2017

Dear Fellow Members,
AssalamuAlaikum and greetings to you all.
I am pleased to share with a summary of the major events held in the month of August 2017.


In ICAB history, for the first time we organized a gathering of students from various universities. We could call it “Student Summit”. It was a very successful event which attracted nearly 500 students from several universities. The Student Summit was held on 5 August 2017, at Sena Malancha, Dhaka Cantonment, our aim was to motivate the prospective students about Chartered Accountancy (CA) profession and to bring their notice how CA profession


A good number of audit firms set up stalls at the venue, where prospective students could discuss the profession with current students and members of ICAB.


In the opening remarks I tried to inspire them to undertake CA course to brighten their future career. Vice President Mr. Mostafa Kamal FCA delivered an excellent presentation on Chartered Accountancy course and the benefits of studying CA. Council Member and Chairman of the Student Summit Organizing Committee Mr. Mahmudul Hasan Khusru FCA made concluding remarks.


In the second part of the Summit few of our CEO members shared their experiences. These were Mr.Ahmed Raihan Shamsi FCA, Chief Executive Officer, Accenture CIS Limited & Managing Director, Communications, Media & Technology, ASEAN, Mr. Akhter Matin Chaudhury FCA, Chairman & Managing Director, NUVISTA Pharma Ltd., Ms. Parveen Mahmud FCA, Past President -ICAB & Managing Director, Grameen Telecom Trust, Mr.Md. Samsul Alam Mallick FCA, Managing Director, New Zealand Milk (BD) Ltd., and Mr.Noor-E-Khoda Abdul Mobin FCA, Managing Director and CEO, Emerging Credit Rating Ltd..


From the Council-ICAB and on my personal behalf I thank all the resource persons, VCs, Chairman & Deans and Teachers of Business faculties of universities who lent their support unconditionally to make the programme a success. My thanks also to Dhaka Regional Committee of ICAB for organizing a sort quiz competition and the CA firms who gave a unique feature of the event by setting their stalls at the venue. My very special thanks to the ICAB team, led by our Secretary, for excellent arrangements for this unprecedented event.


A Members’ Conference on ‘Financial Reporting Oversight: Global Practice and Bangladesh’ was held on 17 August 2017 at the ICAB Auditorium, where Mr. C. Q. K. Mustaq Ahmed, Chairman, Financial Reporting Council (FRC) was present as the Chief Guest. It was his maiden participation with ICAB in open forum. I delivered welcome address while Mr. Muhammed Farhad Hussain FCA, Past President & Member Council-ICAB conducted and chaired the seminar.


Dr. Ranjan Kumar Mitra, Assistant Professor, Department of Accounting & Information Systems, University of Dhaka presented the Key-note paper and Mr. Mostafa Kamal FCA, Member-Council &Vice President (E&T) ICAB made concluding remarks.


The meeting of the Jury Board of Review Committee of Published Accounts & Reports (RCPAR) 2017 was held at ICAB Council Room on 23 August 2017.


In the meeting six members Jury Board headed by Mr. Md. Matiul Islam FCA were made aware of the procedure for evaluation of the competition and the results. The Jury Board expressed its full satisfaction over the process and procedures of the Award.


The other members of the Jury Board were Ms. Rokia Afzal Rahman, former Adviser to Caretaker Government of Bangladesh, Professor Mr. Wahiduddin Mahmud, former Adviser to Caretaker Government of Bangladesh, Mr. AHM Moazzem Hossain, Editor, The Financial Express and Dr. Mohammed Farashuddin, Ex-Governor, Bangladesh Bank. The board gave their valuable suggestions, which were incorporated as appropriate.


An ICAB delegation led by me participated in a meeting regarding LGSP-III at LGSP office on 22 August 2017. The other members of the delegation were Vice President Mr. Md. Mahamud Hosain FCA, Council Member & Past President Mr. Kamrul Abedin FCA, Secretary Maj Gen Muhammad Imrul Quayes (Retd) and Director(Technical) Mr. Mahbub Ahmed Sidique FCA. Mr. Sardar Sarafat Ali, Project Director, Local Government Support Project-III, Local Government Division, Ministry of LGRD & Cooperatives, GoB and Mr. Md. Enamul Hoque, Finance Associate(Audit) from the same division also participated in the meeting.


The discussion emphasised on the quality of audit, increase of audit fees, signing of MoU between ICAB and Local Government Support Project-III, training of auditors, audit of Union Parishad and Paurashava in the country, etc.


Another delegation from the Institute led by me participated in SAFA International Conference Board Meeting and different Committee Meetings which were jointly organized by the Institute of Chartered Accountants of Nepal(ICAN) and the Certified Professional Accountants (CPA) Afghanistan on 27, 28 &29 August 2017 in Kathmandu, Nepal.


Other members of the ICAB delegation were Council Members & Past Presidents Mr. Akhtar Sohel Kasem FCA, Mr. Muhammed Farhad Hossain FCA, Ms Parveen Mahmud FCA, Mr.Nasir Uddin Ahmed FCA, Council Members Mr. Dewan Nurul Islam FCA , Mr. AF Nesaruddin FCA, Mr. Md. Shahadat Hossain FCA and Mr. Mahmudul Hasan Khusru FCA. Also, Mr. ASM Nayeem FCA, SAFA President, Council Member & Past Present of ICAB and SAFA Executive Secretary Mr. Mahbub Ahmed Siddique FCA participated in the conference and the meetings.


The International Conference was designed especially for professional accountants in business, services andother interested stakeholders. ICAB Council Member Mr. Md. Shahadat Hossain FCA, presented the technical paper titled "Role of Professional Accountants in Economic Developments" at Session-I of the SAFA International Conference. Speakers from international bodies, International Federation of Accountants (IFAC), International Accounting Standards Board (IASB), European Federation of Accountants and Auditors(EFAA), World Congress of Accountants (WCOA), South Asian Federation of Accountants (SAFA) member bodies shared experience from their respective country’s perspective in four technical sessions and a valedictory session.


I chaired the meeting of Committee on Professional Ethics and Independence, SAFA, which was held on 27 August.


A six month long Certificate Course on Information Systems Audit ( IS Audit), for the 2nd batch started on 20 March 2017 and it has been going on successfully. The total participants are 40.The course will continue up to 30 October2017. Another Certificate Course on International Financial Reporting Standards (IFRS)" and International Accounting Standards(IAS) has started from 12 August 2017 at ICPE training room and expected to conclude on 30 September 2017. 40 participants are participating in the training.


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 August- 2017:


Standing Committees:
   -   8th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 5 August 2017 at 3:00 p.m.
   -   3rd Meeting of the Examination Committee was held on 16 August 2017 at 11:00 a.m.
   -   12th Council Meeting was held on 16 August 2017 at 1:00 p.m.
   -   4th Meeting of the Articled StudentsCommittee (ASC) was held on 20 August 2017 at 5:30 p.m.
   -   5th Meeting of the Examination Committee was held on 21 August 2017 at 5:30 p.m.
   -   13th Council Meeting was held on 23 August 2017 at 6:30 p.m.
   -   5th Meeting of the Articled Students Committee (ASC) was held on 24 August 2017 at 6:00 p.m.
   -   9th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 11 August 2017 at 11:00 a.m.
   -   4th Meeting of the Board of Studies (BoS) was held on 27 August 2017 at 6:00 pm.


Non-standing Committees:
   -   2nd Meeting of the Audit Committee was held on 01 August 2017 at 5:30 p.m.
   -   3rd Meeting of the Review Committee for Published Accounts & Reports(RCPAR) was held on 10 August 2017 at 6:30 p.m.
   -   4th Meeting of the Human Resource(HR) Committee was held on 16 August 2017 at 4:00 p.m.
   -   2nd Meeting of the Continuing Professional Development Committee (CPDC) was held on 20 August 2017 at 6:00 p.m.
   -   3rd Meeting of the Media & Branding Committee was held on 24 August 2017 at 5:30 p.m.
   -   2nd Meeting of the Committee for Women in Leadership was held on 30 August 2017 at 5:30 p.m.


Standing and Non-standing Sub-committees:
   -   1st Meeting of the Financial Service Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 01 August 2017 at 5:00 p.m.
   -   1st Meeting of the Insurance Sector Sub-committee of Review Committee for Published Accounts & Reports(RCPAR) was held on 02 August 2017 at 5:30 p.m.
   -   1st Meeting of the Public Sector Sub-committee of Review Committee for Published Accounts & Reports(RCPAR) was held on 03 August 2017 at 5:30 p.m.
   -   1st Meeting of the Private Sector Banks Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 6 August 2017 at 5:00 p.m.
   -   1st Meeting of the Diversified Holdings Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 06 August 2017 at 5:00 p.m.
   -   1st Meeting of the Agriculture Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 06 August 2017 at 5:00 p.m.
   -   1st Meeting of the Service Sector Sub-committee of Review Committee for Published Accounts & Reports(RCPAR) was held on 07 August 2017 at 5:30 p.m.
   -   1st Meeting of the Manufacturing Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 07 August 2017 at 6:30 p.m.
   -   1st Meeting of the Integrated Reporting Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 08 August 2017 at 3:00 p.m.
   -   1st Meeting of the Public Sector Entities Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 08 August 2017 at 5:30 p.m.
   -   1st Meeting of the Corporate Governance Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 08 August 2017 at 5:30 p.m.
   -   2nd Meeting of the Working Group for Professional Development Committee (PDC) was held on 9 August 2017 at 5:30 p.m.
   -   2nd Meeting of the Conveners of Working Groups for Professional Development Committee (PDC) was held on 22 August 2017 at 6:00 p.m.
   -   2nd Meeting of the Financial Service Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 22 August 2017 at 5:00 p.m.
   -   Jury Board Meeting of Review Committee for Published Accounts & Reports (RCPAR) was held on 23 August 2017 at 12:00 Noon.


                ---With best wishes to all


Adeeb Hossain Khan FCA
President

Update Date : 27/09/2017

President's Communication: July 2017

Dear Fellow Members,
Assalamu Alaikum and greetings to you all.
My dear colleagues and fellow members of the Institute, I have passed seven months of my presidency and they have been quite eventful. Only when one sites in this "Chair does one realise the amount of effort office bearers and executive team have to put in just keep everyday operations going. My heartfelt gratitude to the members of the Council and the executive team for their support and tireless efforts. Let me update you on the important activities in the month of July.


A teleconference between ICAB and CA Worldwide (CAW) was held on 12 July 2017 where Ms. Ruth Hidalgo, Senior Manager, CA Worldwide and I had a conversation on various professional issues. ICAB Secretary Maj Gen Mohammad Imrul Quayes (Retd) and Director (Technical) Mahbub Ahmed Siddique FCA were also present during the conference.


Ms. Hidalgo briefed about the background of CA Worldwide including business plan 2017, branding of CAW, its membership & associates strategies and objectives, key meetings & events like board meeting, CEO meeting, benefits and individual membership of CAW, etc. She also focused on ICAB’s participation in upcoming event like CEO meeting in August in Mumbai hosted by The Institute of Chartered Accountants of India (ICAI).
I briefed about ICAB and put emphasis on the common avenues for working together in coming days. I believe our collaboration with CAW will take ICAB to greater heights in the years to come.

 

To discuss various professional matters, I led an ICAB delegation to a courtesy call on C. Q. K. Mustaq Ahmed, the first chairman of Financial Reporting Council (FRC) on 17 July 2017 at his office. The other members of the delegation were ICAB Vice President Mr. Mostafa Kamal FCA, Past Presidents & Council Members Mr. M Farhad Hussain FCA & Mr. Kamrul Abedin FCA, Secretary Major General Mohammad Imrul Quayes (Retd) and Director (Technical) Mr. Mahbub Ahmed Siddique FCA. We discussed future course of actions and structural formation of newly formed Financial Reporting Council (FRC), etc. The FRC Chairman requested ICAB for necessary cooperation for smooth functioning of the oversight body. We welcomed the new chairman and said we shall work together for development of financial reporting in the country.


A Delegation from ICAB participated in a meeting with the World Bank at its Dhaka Office on 13 July 2017 for formal closure of Investment Development Fund (IDF) project ‘Strengthening Financial Reporting Framework and Audit Practice’. The meeting expressed full satisfaction over successful implementation of the project by ICAB which started in July 2014. Earlier in different event at Hotel Pan Pacific Sonargaon, Project Advisor Mr. Burhanuddin Ahmed FCA made a presentation on the implementation of the project and it was highly appraised by the audience. Lead Financial Management Specialist Ms. Suraiya Zannath Khan FCA and Financial Management Specialist Mr. Mohammad Atikuzzaman FCA were present in the meeting. Ms. Suraiya Zannath Khan FCA advised ICAB to explore new avenues where ICAB and WB could work together under a new project especially on improvement of audit practices in the country and the matters connected therewith.


The ICAB delegation was comprised of Vice Presidents Mr Mostafa Kamal FCA & Mr Mahamud Hosain FCA, Council Members Mr Dewan Nurul Islam FCA, Mr Md. Shahadat Hossain FCA, Mr Mahmudul Hasan Khusru FCA, Secretary Maj Gen Muhammad Imrul Quayes (Retd.), Project Director & former Secretary Mr AKM Rahmatullah FCA, Project Consultant & Fellow Member Mr Burhanuddin Ahmed FCA, Director (Technical) Mr Mahbub Ahmed Siddique FCA.
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 July 2017:
Standing Committees:
-    7th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 15 July 2017 at 11:00 am.
-    3rd Meeting of the Human Resource (HR) Committee was held on 17 July 2017 at 5:30 pm.
-    11th Meeting of the Council was held on 25 July 2017 at 4:00 pm.
-    2nd Meeting of the Technical Research Committee (TRC) was held on 26 July 2017 at 5:30 pm.
Non-standing Committee:
-    4th Meeting of the Information & Communication Technology Committee (ICTC) was held on 12 July 2017 at 5:30 pm.
Standing and Non-standing Sub-committees:
-    1st Meeting of the Working Group regarding Public Sector & Corporate and Business Houses and liaison with different Ministries, Govt and Chamber Bodies of Professional Development Committee (PDC) was held on 11 July 2017 at 5:30 p.m.
-    2nd Meeting of the Working Group on Professional issues related to Non-Government Organization (NGOs) and MFIs of Professional Development Committee (PDC) was held on 12 July 2017 at 6:00 pm.
-    5th Meeting of Renovation Committee was held on 13 July 2017 at 3:00 pm.
-    1st Meeting of the Working Group on Professional issues related to Banks and Financial Institutions of Professional Development Committee (PDC) was held on 17 July 2017 at 6:00 pm.
-    2nd Meeting of the ERP Project Steering Committee of Information & Communication Technology Committee (ICTC) was held on 19 July 2017 at 6:00 pm.
-    3rd Meeting of the Working Group on exploring job opportunity for professionals and combating/addressing professional threats of Professional Development Committee (PDC) was held on 26 July 2017 at 6:00 pm.
-    1st Meeting of NGO Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 30 July 2017 at 5:30 pm.
-    1st Meeting of Information & Communication Technology Committee (ICTC) was held on 31 July 2017 at 3:30 pm.

With best wishes to all

 

Adeeb Hossain Khan FCA
President

 

 

 

 

Update Date : 31/08/2017

President's Communication: June 2017

Dear Fellow Members,
Asalamu Alaikum and greetings to you all. 

I hope all of our members had a blessed Eid-Ul Fitr with near and dear ones. As Ramadan and Eid Ul Fitr fell in the month of June, we had to reduce the working hours of the Institute and our activities in this period. . Let me highlight the activities which were held in the month of June 2017.
A roundtable discussion on the proposed budget for fiscal 2017-18 was jointly organised by ICAB and daily Prothom Alo at CA Bhaban, Dhaka on 8 June 2017 where our members, business leaders and other experts including economists offered their valuable insights.  Every year ICAB and Prothom Alo organise this event. This time it was held following the presentation of Budget in the Parliament rather than being the Pre-budget discussion. State Minister for Finance and Planning Mr. MA Mannan, MP graced the event as chief guest. Our Council Member & Past President Mr. Md. Humayun Kabir FCA moderated the programme. I made opening remarks. All participants gave valuable input on the Budget then recently proposed. I thank the hon’ble State Minister Mr. MA Mannan for his presence and participation in the programme.

My deep appreciation to CPD executive director Prof. Dr. Mustafizur Rahman, Mr. Kamrul Islam, vice-president of Dhaka Chamber of Commerce and Industry, Mr.  Abu Naser, a director of the Federation of Bangladesh Chambers of Commerce and Industry, Mr. Faruq Ahmad Siddiqi, former chairman of Bangladesh Securities and Exchange Commission, Mr. Mustafa Jabbar, president of the Bangladesh Association of Software and Information Services, Mr. Mohammed Nasir, vice-president of the Bangladesh Garment Manufacturers and Exporters Association and Ms. Rasheda K Chowdhury, former adviser to Caretaker Government and the Executive Director of Campaign for Popular Education, for their attendance and comments, which made the programme a success.
 

Chittagong Regional Committee (CRC) of ICAB organised a CPD Seminar on ‘A Review of Budget 2017-18 and Proposed Changes in Income Tax and VAT’ on 9 June 2017 at the Conference Hall of ICAB-Chittagong Regional Office, Chittagong following the budget session in Jatia Sangsad (JS). Mr. Moddassar Ahmed Siddique FCA, Vice President (Technical), ICAB and Group CFO, KDS Group conducted the seminar as Session Chairman. Mr. Mohammad Arif FCA, Chief Financial Officer, BSRM Steels Limited and Mr. Shaju Barua ACA, Manager, HodaVasi Chowdhury & Co, Chartered Accountants presented a series of papers on proposed changes in Income Tax Ordinance as per Finance Act.
Mr. M R Dey FCA, Mr. S K Basak FCA, Sidhartha Barua FCA, Mr. Saifur Rahman Mazumdar FCA participated as panelist.

 

A discussion meeting on Audit of Union Parishad under LGSP-III was held on 18 June 2017 at ICAB training room. The discussions included learning points from LGSP II and way forward for LGSP III.  Besides me, Vice President (F&A), Secretary and Director (Technical) of ICAB spoke at the programme.
SMP Conference 2017 was held at CA Bhaban on 10 June 2017 with a view to enhance the capacity of practicing members of the Institute.  I inaugurated the conference while Council Member Mr. Md. Shahadat Hossain FCA, who is also the Chairman SMP Committee, Secretary and Director (Technical) FCA were present.

 

For the first time ICAB organised such an event. A good number of practicing members participated at the conference. The major deliberations of the conference were on audit documentation, compliance required for practice, findings of QAB and IDC, audit guide of small and medium enterprises(SME) and Computer Assisted Audit Techniques and Tools (CAATT), etc. I heartily congratulate Mr. Shahadat Hossain FCA on this wonderful initiative.


Working group discussion meeting between OCAG and ICAB was held on 18 June 2017 at ICAB Council Room, CA Bhaban, Dhaka. ICAB is expecting that OCAG, the supreme audit Institution (SAI) of Bangladesh Government, would contribute significantly towards the economic development of the nation and to achieve the desired objectives for strengthening the accountability, transparency and bringing discipline in the financial management of the country. The members of the OCAG Working Group are Mr. Md Zahurul Islam, Director, General Commercial Audit Directorate, Mr. Mohammad Zakir Hossain, Deputy Comptroller and Auditor General (A&R), Mr. Farmeen Mowla, Director, FIMA and Mr. Saifur Rahman Jamali, Assistant Comptroller and Auditor General (Audit).The nominated working group members from ICAB are Vice President  Mr. Md. Mahamud Hosain FCA, Council Member & Past President Mr. Muhammed Farhad Hussain FCA, and  Council Members Dewan Nurul Islam FCA and Mahmudul Hasan Khusru FCA.
 

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 June 2017:
Standing Committees:
-    3rd Meeting of the Board of Studies (BoS) was held on 10 June 2017 at 11:00 am.
-    3rd Meeting of the Articled Students Committee (ASC) was held on 10 June 2017 at 3:00 pm.
-    4th Executive Committee Meeting (EC) was held on 15 June 2017 at 2:00 pm.
-    10th Meeting of the Council was held on 19 June 2017 at 1:30 pm.
-    2nd Meeting of the Quality Assurance Board (QAB) was held on 21 June 2017 at 2:30 pm.
Non-standing Committees:
-    3rd Editorial Board Meeting was held on 1 June 2017 at 3:30 pm.
-    3rd Meeting of Information & Communication Technology Committee (ICTC) was held on 7 June 2017 at 5:30 pm.
-    1st Meeting of ICAB-ICAEW Coordination Committee was held on 21 June 2017 at 3:30 pm.
With best wishes to all

Adeeb Hossain Khan FCA
President

 

 

Update Date : 17/08/2017

President's Communication: May 2017

Dear Fellow Members,
Asalamu Alaikum and greetings to you all. 

In this month ICAB organised a number of vigorous trainings and workshops for the members, stakeholders and the regulatory bodies including Bangladesh Bank and held meetings with ministries and regulatory bodies to discuss professional issues.


A 25-day long training programme on International Financial Reporting Standards (IFRS) was organized by ICPE for the officials of Bangladesh Bank at ICAB Training Room. A total of 35 senior officials from the Bangladesh Bank participated in the programme. Certificate awarding ceremony of the training programme was held on 23 May 2017 where Mr. Md. Abdul Mannan, Additional Secretary, Ministry of Commerce was the Chief Guest and Mr. AKM Aftabul Islam FCA, Director, Board of Directors, Bangladesh Bank chaired the programme. Mr. Md. Muslem Uddin, Executive Director, Bangladesh Bank was the Special Guest while Qazi Enayet Hussain, General Manager, Bangladesh Bank was present as guest of honour.


ICPE has organized another Workshop on ICAEW Pathway Membership for ICAB Members on 8 May 2017 at ICPE training room. 120 members participated in the programme. ICAB Vice Presidents Mr. Mostafa Kamal FCA, Mr. Md. Mahamud Hosain FCA, Secretary Major General Muhammad Imrul Quayes (retd.) and Director (Technical) Mr. Mahbub Ahmed Siddique FCA were present at the inauguration session of the training. Mr. Justin West, Head of New Business Opportunities, ICAEW was  the resource person. The training was organized under joint collaboration programme with ICAEW.


A workshop on New VAT Act 2012 and Rules 2016 - Highlights and Challenges was organized by ICPE on May 2017 at ICAB Auditorium where 60 members participated. I inaugurated the first session. At the end of the workshop ICAB Vice President Mr. Mostofa Kamal FCA distributed the certificates to the trainees. The resource persons of the training were Mr. Muhammad Mehedi Hasan FCA and First Secretary, VAT, NBR Dr. Md. Abdur Rouf.


The CFOs Conferences on Evaluation Criteria for SAFA Best Presented Accounts Award was organized by ICAB with participation of the Chief Financial Officers (CFOs) from Banking, Insurance and Non Banking Financial Institutions (NBIs) on 13 May and CFOs from manufacturing, public sectors, NGOs and other entities on 14 May 2017 at the Council Hall. Co-Chairman of Review Committee of Published Accounts & Reports Mr. Md. Shahadat Hossain FCA, ICAB nominated SAFA IT Committee member Mr. Dewan Nurul Islam FCA, Council Member & Past President Mr. Nasir Uddin Ahmed FCA and Council Member Mr. Nesaruddin Ahmed FCA were present in the programme. The conference was arranged for the CFOs to make them conversant with the SAFA evaluation criteria for ICAB BPA Awards 2016.


Besides, the trainings and workshops ICAB continues to work with government and regulatory bodies to discuss emerging professional matters. A joint meeting between ICAB and Microcredit Regulatory Authority (MRA) was held on 23 May 2017 at the Conference Room of Microcredit Regulatory Authority office. Mr. Amalendu Mukherjee, Executive Vice Chairman (EVC) of Microcredit Regulatory Authority (MRA) presided over the meeting while ICAB Council Member & Chairman, Professional Development Committee (PDC) Mr. Muhammad Farooq FCA led the ICAB team. Other members of the ICAB team were Secretary Major General Muhammad Imrul Quayes, (Retd.), Fellow Members & Members PDC Mr. Mohiuddin Ahmed FCA, Mr. Fokrul Alam Patwary FCA and Mr. Abdullah Al Mamun ACA.  Mr. Mohammad Farooq FCA, team leader of ICAB assured the MRA that the ICAB would extend all out cooperation regarding the audit of organizations under MRA and would take the initiatives including a workshop for the auditors of MRA.


On 28 May 2017a five-member team nominated by ICAB participated in a meeting with the Acting Secretary, Ministry of Commerce Subhasish Basu on draft Company Act 2016 at conference room at the Ministry of Commerce. The members of the team were ICAB Council Member & Past President Mr. Md. Humayun Kabir FCA, Vice President Mr. Mostafa Kamal FCA, Council Member Mr. Md. Shahadat Hossain FCA, Secretary Maj Gen Imrul Quayes (Retd.), Director (Technical) Mr. Mahabub Ahmed Siddique FCA. They placed ICAB’s proposals regarding the new Act and discussed matters connected therewith.
 

A delegation from ICAB held a meeting with the Member & Acting Chairman of Insurance Development & Regulatory Authority (IDRA) Gokul Chandra Das at his office on 25 May 2017. The members of the ICAB delegation were Council Member Mr. Mohammad Farooq FCA, Senior Fellow Members Mr. Mohammed Forkan Uddin FCA, Mr. Selim Reza FCA, Mr. Mohammed Sabir Ahmed FCA, Mr. Mohammad Shibbir Hossain FCA and ICAB Secretary Maj Gen Imrul Quayes(Retd). They discussed various professional matters including audit reports and recruitment of CFOs in Insurance companies.


We express our deep sorrow at the sad demise of Mr. Md. Mukhlisur Rahman Khan FCA (Enrl. No. 214), a senior Chartered Accountant and Proprietor, M R Khan & Co., Chartered Accountants who died on 13 May 2017 (Innah Lillahe... Rajeun). On behalf of the Council I sent a condolence letter to the bereaved family and prayed for eternal pace to the departed soul.


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 May 2017:
Standing Committees:
-    5th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 6 May 2017 at 4:00 pm.
-    6th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 20 May 2017 at 3:00 pm.
-    9th Meeting of the Council was held on 22 May 2017 at 5:00 pm.
-    2nd Meeting of the Articled Students Committee (ASC) was held on 24 May 2017 at 6:00 pm.
Non-standing Committees:
-    2nd Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 3 May 2017 at 6:30 pm.
-    4th Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 4 May 2017 at 6:30 pm.
-    2nd Meeting of the Committee for Amendment of CA Order & Bye-laws was held on 9 May 2017 at 6:00 pm.
-    2nd Meeting of the Real Estate Committee (REC) was held on 14 May 2016 at 6:00 pm.
-    1st Meeting of the Committee on Professional Accountants in Business (PAIB) was held on 17 May 2017 at 6:00 pm.
-    1st Meeting of the Project Development & Implementation Committee (PDIC) was held on 23 May 2017 at 6:00 pm.
-    1st Meeting of the Public Finance and Public Sector Accounting was held on 30 May 2017 at 3:30 pm.
Standing and Non-standing Sub-committees:
-    2nd Meeting of the Working Group of Professional Development Committee (PDC) for BSEC, DSE, CSE, RJSC and BIDA was held on 02 May 2017 at 6:00 pm.
-    1st Meeting of the Working Group of Professional Development Committee (PDC) for Insurance was held on 03 May 2017 at 6:00 pm.
-    3rd Meeting of the Real Estate Committee (REC) Sub-committee regarding to renovation work was held on 14 May 2016 at 4:00 pm.
-    4th Meeting of the 8-Member Council Sub-Committee Regarding to Qualifications of other Institutes/organizations was held on 15 May 2017 at 6:00 pm.
-    1st Meeting of the Working Group of Professional Development Committee (PDC) for Tax and VAT was held on 16 May 2017 at 6:00 pm.
-    2nd Meeting of the 10-Member Articled Students Sub-committee was held on 17 May 2017 at 6:00 pm.
-    2nd Meeting of the Working Group of Professional Development Committee (PDC) for Professionals and Combating/Addressing Professional Difficulties was held on 25 May 2017 at 6:00 pm.

With best wishes.

Adeeb Hossain Khan FCA
President

 

Update Date : 29/06/2017

Prsident's Communication: April - 2017

Dear Fellow Members,
Asalamu Alaikum and greetings to you all. 

The month of April always brings the occasion of celebration of Pohela Boishakh. It is part and parcel of our Bengali culture and heritage. It is my honour and it was a great opportunity that on this day, I conveyed ‘Shuvo Noboshow’ to you all through our newly opened Facebook Page at mid night of Pohela Boishakh. ICAB entered into Facebook from 14 April 2017, thanks to Media and Branding Committee for their ceaseless efforts behind this. Let me now share a summary of the main events which took place during the month of April. 

 

Among other programmes that fell in the month of April, the Workshop on Roadmap to Strengthening Financial Reporting Framework for Public Sector Entities was held on 18 April at Pan Pacific Sonargaon Hotel, Dhaka. The event was jointly organized by the Institute of Chartered Accountants of Bangladesh (ICAB) and the World Bank (WB) under the Public Private Partnership project. It is our honour that we had Mr. Masud Ahmed, Comptroller and Auditor General of Bangladesh to grace the programme as the Chief Guest and Mr. Mohammad Muslim Chowdhury, Additional Secretary, Ministry of Finance, GoB as Special Guest.  Besides a paper presentation by Burhanuddin Ahmed FCA, World Bank Task Team Leader, Mohammad Atikuzzaman FCA presented an overview of Strengthening Financial Reporting Framework for Public Sector Entities in this programme. We were pleased to have Ms. Suraiya Zannath Khan FCA, Lead Financial Management Specialist, WB with us. I moderated the programme while Vice President Mahamud Hosain FCA  gave vote of thanks at the end. 
 

Members’ Conference on ‘Cyber Security- An Overview’ was held at ICAB auditorium on 25 April 2017. Mr. Md. Harunur Rashid, Additional Secretary, Ministry of Information and Communication Technology (ICT), GoB graced the occasion as the Chief Guest. I moderated the session while  Mr. Khondkar Atique-e-Rabbani FCA, Managing Director, The Computers Ltd     presented the keynote paper.  Vice President Mr.Mostafa Kamal FCA delivered vote of thanks at the end of the programme. Citing example of Bangladesh Bank, which came under cyber-attack in February 2016, the keynote speaker said Cyber criminals may not give a manager a second chance to prevent a disaster. He said that Vulnerability issue spreads over the whole spectrum – hardware, devices, software, networks, personnel, site, organization, etc. 
 

On a Members’ Conference on "Integrated Reporting –Challenges and Opportunities", speakers placed some suggestions on how to address market issues through catalyzing high quality financial reporting and credible audit practices through technical skills, professional competencies besides ethics. The conference was organised by the ICAB at its auditorium on Sunday 30 April 2017. Mr. Anwaruddin Chowdhury FCA, Council Member & Past President, ICAB, Director CAPA Board and Technical Advisor CRAB Ltd presented the Keynote paper while Mr. Abbas Uddin Khan FCA, Past President, ICAB & Managing Partner, Akhter Abbas Khan & Co., Chartered Accountants conducted the session a Session Chairman.  I delivered welcome address and  our Vice President Mr. Md. Mahamud Hosain FCA  gave vote of thanks. Council Members and distinguished members were also  present in the conference.  
 

Meeting with NBR: A team of ICAB led by me participated at a meeting on 25 April chaired by NBR Chairman Mr.Md. Nojibur Rahman on a proposed new direct taxes law. Other stakeholders were also present in the meeting. The other members of ICAB team were Council Member & Past President Mr.Md. Humayun Kabir FCA, Council Members Mr. AF Nesaruddin FCA, Mr.Md. Shahadat Hossain FCA and Fellow Member Mr.Snehasish Barua FCA. We placed a number of proposals in this  connection. 


A number of trainings and workshops were held in April to disseminate knowledge and expertise among the members and other stakeholders like Bangladesh Bank and other corporate offices. Workshops on transfer pricing regulation & practice, audit quality and application of update audit practice manual,   training on IFRS were held. Six months long Certificate Course on IS Audit for ICAB members in two batches are successfully going on in ICPE training room. 
 

Keeping ideology of Bangla tradition & culture, the members of ICAB Dhaka Regional Committee (DRC) celebrated Pohela Boishakh with their near and dear ones at the Institute premises with folk songs and traditional food in befitting manner.  Members of the fraternity participated in the evening programme with great enthusiasm. I welcome such initiatives and hope that in future we would together take more initiatives to foster better image of the CA profession. 
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 April 2017:
Standing Committees:
-    3rd Meeting of the Investigation & Disciplinary Committee (IDC) was held on 4 April 2017 at 6:00 pm.
-    4th Meeting  of Investigation & Disciplinary Committee (IDC) was held on 18 April 2017 at 6:00 pm.
-    3rd Meeting of the Executive Committee (EC) was held on 22 April 2017 at 11:00 am.
-    2nd Meeting of the Board of Studies (BoS) was held on `22 April 2017 at 4:00 pm.
-    8th Meeting of the Council was held on 24 April 2017 at 5:00 pm.
Non-standing Committees:
-    1st Meeting of the SAFA, CAPA & International Affairs Committee was held on 2 April 2017 at 5:00 pm.
-    2nd Meeting of the Information & Communication Technology Committee (ICTC) was held on 2 April 2017 at 5:30 pm.
-    1st Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 3 April 2071 at 6:30 pm.
-    2nd Meeting of the Editorial Board (EB) was held on 5 April 2017 at 5:00 pm.
-    1st Meeting of the Continuing Professional Development Committee (CPDC) was held on 9 April 2017 at 6:00 pm.
-    1st Meeting of the Audit Committee was held on 17 April 2017 at 5:00 pm.
-    1st Meeting of the Members Services & Welfare Committee (MSWC) was held on 19 April 2017 at 6:00 pm.
-    2nd Meeting of the Media & Branding Committee was held on 24 April 2017 at 4:00 pm.
-    2nd Meeting of the Committee for Small and Medium Practitioners (SMP) was held on 26 April 2017 at 6:30 pm.
Standing and Non-standing Sub-committees:
-    1st Meeting of the Conveners of Working Groups of Professional Development Committee (PDC) was held on 6 April 2017 at 6:30 pm.
-    1st Meeting of the Working Group for Working on exploring job opportunity for Professionals and combating/addressing professional threats Professional Development Committee (PDC) was held on 2 April 2017 at 6:30 pm.
-    3rd Meeting of the 6-Member Sub-committee of Board of Studies (BoS) regarding to develop and preparation of model Case Study in local context was held on 10 April 2017 at 6:30 pm.
-    3rd Meeting of PEC for the procurement of services under the World Bank Financed Project was held on 10 April 2017 at 1:00 pm.
-    4th Meeting of PEC for  the Procurement of services under the World Bank Financial Project was held on 12 April 2017 at 2:00 pm.
-    Coordination Meeting regarding a summit for prominent public and private Universities’ students was held on 12 April 2017 at 6:00 pm.
-    1st Meeting of the Renovation Committee regarding the REC Sub-committee was held on 16 April 2017 at 6:00 pm.
-    Coordination Meeting regarding a summit for prominent public and private Universities’ students was held on 127April 2017 at 6:00 pm.
-    1st Meeting of the Working Group for working on professional issues relating to Non-Government Organizations (NGOs) and Microfinance Institutions (MFIs) of PDC was held on 18 April 2017 at 6:00 pm.
-    11th Meeting of TEC for the procurement of goods under WB funded project “Strengthening Financial Reporting Framework and Audit Practice was held on 22 April 2017 at 4:00 pm.
-    Coordination Meeting regarding a summit for prominent public and private Universities’ students was held on 23 April 2017 at 5:30 pm.
-    2nd Meeting of the Renovation Committee regarding the REC Sub-committee was held on 24 April 2017 at 4:00 pm.
-    Coordination Meeting regarding a summit for prominent public and private Universities’ students was held on 25 April 2017 at 5:00 pm.
-    Coordination Meeting regarding a summit for prominent public and private Universities’ students was held on 27 April 2017 at 5:30 pm.
With best wishes


Adeeb Hossain Khan FCA 
President

Update Date : 16/05/2017

Prsident's Communication: March - 2017

Dear Fellow Members,
Asalamu Alaikum and greetings to you all.
This is the month of our independence. The vast sacrifice made by our brothers and sisters during the war of independence is remembered by us all with deep respect. With this prelude, I would like to apprise you of our activities in the month of March 2017.


ICAB's discussion on ‘Path to an Easier Business Environment’: We organised discussion on ‘Path to an Easier Business Environment’ on 19 March 2017 at Pan Pacific Sonargaon, Dhaka. Abul Maal Abdul Muhith, MP, Hon'ble Finance Minister, GoB graced the occasion as the Chief Guest while Kazi M. Aminul Islam, Executive Chairman, Bangladesh Investment Development Authority (BIDA) was present as Special Guest and Ms. Rupali Chowdhury President, Foreign Investors’ Chamber of Commerce & Industry (FICCI) Bangladesh attended as Guest of Honour.  I delivered address of welcome and moderated the programme. ICAB Council Member Dewan Nurul Islam FCA presented the keynote paper while Executive Member & Secretary, BIDA Ajit Kumar Paul FCA presented a paper on BIDA strategy to foster business activities and the way to ensure congenial environment. Guests included some of our members and members of the business community. This was a unique event for us and part of our strategy to align ourselves those closely with mainstream business. The suggestions and recommendations that came out from the discussion will assist the government in easing the procedures of doing business in Bangladesh.


Members’ Conference on ‘New VAT Act 2012 and Rules 2016': ICAB organized a seminar on ‘‘New VAT Act 2012 and Rules 2016-Highlights and Challenges’’ on 05 March 2017 at CA Bhaban. Barrister Jahangir Hossain, Member, VAT Policy, NBR, GoB graced the occasion as the Chief Guest. Abul Khair Chowdhury FCA, Past President, ICAB conducted the session as Session Chairman while I delivered the welcome speech. Muhammad Mehedi Hasan FCA, Partner, Rahman Rahman Huq, Chartered Accountants, presented the Key-note Paper of the conference.


Training for ACI Godrej Officials on IFRS: We organized training on "International Financial Reporting Standards (IFRS)" for 9 ACI Godrej Officials which commenced on 25 February and completed on 25 March 2017. I thank the resource persons, Mohammad Salahuddin Chowdhury FCA, Snehasish Barua FCA, Sabbir Ahmed FCA, Sk. Md. Tarikul Islam FCA and Wasequl Huq Reagan ACA, for their contribution in the programme.


Training for Bangladesh Bank Officials on IFRS: ICAB organized a training programme on "International Financial Reporting Standards (IFRS)" for Bangladesh Bank Officials (4th Phase) which commenced on 28 March 2017 and continued till 23 May 2017. A total number of 35 participants took part in the programme.
I thank the resource persons of the training, Snehasish Barua FCA and Mohammad Salahuddin Chowdhury FCA, for their contribution.


Meeting with Commerce Minister: A delegation of ICAB led by me, comprising of Vice President Mahamud Hosain FCA, Immediate Past President Kamrul Abedin FCA and Secretary AKM Rahmat Ullah FCA met Hon'ble Minister for Commerce Tofail Ahmed, MP on 30 March 2017 at his Office at Bangladesh Secretariat. We expressed our gratitude to the Minister for his support in holding SAFA Int'l events at Dhaka, in particular, for his role in the presence of Hon'ble President Peoples' Republic of Bangladesh.


Meeting with Commerce Secretary: A delegation of ICAB comprising Vice Presidents Moddassar Ahmed Siddique FCA, Mahamud Hosain FCA and Council Member Dewan Nurul Islam FCA, led by me, paid a courtesy call on Acting Secretary, Ministry of Commerce Suvashish Basu on 29 March at his Office at Bangladesh Secretariat. I congratulated the secretary for his new assignment in the Ministry of Commerce.


I also briefed the Secretary about the activities of the Institute and discussed various issues concerning our profession. ICAB delegates also sought the co-operation and assistance from the ministry for smooth functioning of the Institute.
 

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 2017:
Standing Committees:
-    1st Meeting of the Board of Studies (BoS) was held on 04 March 2017 at 5:00 pm.
-    1st Meeting of the Quality Assurance Board (QAB) was held on 06 March 2017 at 5:30 pm.
-    1st Meeting of the Executive Committee (EC) was held on 07 March 2017 at 5:00 pm.
-    1st Meeting of the Investigation & Disciplinary Committee (IDC) was held on 11 March 2017 at 11:00 am.
-    6th Meeting of the Council was held on 12 March 2017 at 5:00 pm.
-    2nd Meeting of the Examination Committee was held on 13 March 2017 at 5:00 pm.
-    2nd Meeting of the Executive Committee (EC) was held on 27 March 2017 at 6:30 pm.
-    2nd Meeting of the Investigation & Disciplinary Committee (IDC) was held on 28 March 2017 at 6:00 pm.
-    6th Meeting of the Council was held on 29 March 2017 at 4:30 pm.

 

Non-standing Committees:
-    1st Meeting of the Human Resources (HR) was held on 01 March 2017 at 5:30 pm.
-    3rd Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 03 March 2017 at 6:00 pm.
-    1st Meeting of the Professional Development Committee (PDC) was held on 09 March 2017 at 5:30 pm.
-    1st Meeting of the Committee for Small and Medium Practitioners (SMP) was held on 15 March 2017 at 5:30 pm.
-    2nd Meeting of the Human Resources (HR) was held on 27 March 2017 at 4:30 pm.

 

Standing and Non-standing Sub-committees:
-    1st Meeting of the 10-Member Articled Students Sub-committee was held on 16 March 2017 at 6:00 pm.
-    2nd Meeting of the 6-Member Council Sub-committee regarding recognizing the qualification of another member body was held on 20 March 2017 at 6:30 pm.
-    1st Meeting of the 4-Member Investigation & Disciplinary Committee (IDC) was held on 21 March 2017 at 5:30 pm.
-    1st Meeting of the 3-Member Investigation & Disciplinary Committee (IDC) was held on 23 March 2017 at 6:00 pm.

 

With best wishes to all,


Adeeb Hossain Khan FCA
President-ICAB

 

Update Date : 27/04/2017

Prsident's Communication: February - 2017

Dear Fellow Members,
Assalamu-alaikum and greetings to you all.

This is the month of historic language movement. The spirit of Amor Ekushey gives us inspiration to stand against odds. It is the testimony of our love of our mother tongue and passion for our own culture and heritage since time immemorial, which has been recognized as 'International Mother Language Day'.

 

With this prelude, may I congratulate the 37 newly qualified CAs who succeeded in their best endeavours and joined this noble profession. You stood out from many, but I must remind you that this is only the beginning. You  must maintain and upgrade professional knowledge and skills to serve better. You must always act with honesty, integrity and professional independence in all situations.

 

Let me now focus on some of the major activities of  his month. This month saw a number of training and workshops as detailed below:

 

Training for the Audit of the Union Parishad:  The Orientation & Training Programme on “Financial Audit, Performance Assessment, Fiduciary & Safeguards Compliance Assessment” for Audit of the Union Parishad was held at ICAB on 7 February 2017. Abdul Malek, Secretary, Local Government Division, Ministry of LGRD & Cooperatives, GoB was the Chief Guest at the inauguration. Along with me, Iqramul Haque, Additional Secretary & National  Project Director, Mohammad Yah-Ya Bhuiyan, DPD, LGSP-2, LGD and Ajit Kumar Paul FCA, Secretary, BIDA attended the programme. The training programme continued 7 to 11 February 2017. On a request from the project Management Unit (PMU) of the LGSP-2, ICAB organized the Orientation & Training Programme for the audit firms, Reviewer firms and District Facilitators. A total number of 1414 students from audit and reviewer firms and 64 district facilitators attended the training sessions.

 

Workshop on FRA: Opportunities for Showcasing the Professional Excellence: ICAB organized Workshop on "FRA: Opportunities for Showcasing the Professional Excellence" on 8 February 2017 at its training room. A total  number of 50 participants took part in the Workshop. I attended the concluding session along with Vice President (E&T) and Senior Fellow Member Ajit Kumar Paul FCA.

 

Training Programme on International Financial  reporting Standards: ICAB organized Training Programme on "International Financial Reporting Standards (IFRS)" for the Officials of ACI Godrej Agrovet Private Limited from 25 February to 25 March 2017. The programme covers several aspects  of BAS & IFRS, BFRS. I thank the  resource persons namely Sabbir Ahmed FCA, Snehasish Barua FCA, Wasequl Huq Reagan FCA, Mohammad Salahuddin Chowdhury FCA, Associate  Professor, University of Dhaka and Sk. Md. Tarikul Islam FCA for sharing their valuable time. Training on Financial Reporting and Audit: Certificate awarding ceremony of the five day long training on "Financial Reporting and Audit" for Bangladesh Municipal Development Fund (BMDF) Officials was held on 16 February, 2017 at ICAB. I thank Mr. Md. Humayun Kabir FCA, Past President and Council Member-ICAB who awarded the certificates while Ajit Kumar Paul FCA, Additional Secretary, Govt. of Bangladesh was present in the programme.

 

Accounting BPO Seminar: Mr. Muhammed Farhad Hussain FCA, Past President and Council Member-ICAB participated as a panel speaker in a seminar on “Accounting BPO: the hidden opportunity” organized by BASIS on 4 February 2017, at BICC, Sher-E-Bangla Nagar, Dhaka in BASIS SoftExpo 2017. The aim of the seminar was to showcase BPO opportunities for accounting firms.

 

ICAB organized Amor Ekushey: DRC-ICAB organized an art competition and poetry recitation for children and a discussion on Amor Ekushey. Veterans Language movement activists Dr, Jasim Uddin Ahmed, Dr. Mirza Mazharul Islam and Abdul Karim Pathan were present at the occasion and showed their extra ordinary and stirring experiences. Also, in the morning, a team from ICAB placed floral wreaths at Central Shaheed Minar as part of the observance of International Mother Language Day and Language Martyr Day.

 

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 2017:

Standing Committees:
- 3rd Meeting of the Council was held on 15 February 2017 at 5:00 pm.
- 1st Meeting of the Articled Students Committee (ASC) was held on 20 February 2017 at 6:00 pm.
- 1st Meeting of the Examination Committee was held on 22 February 2017 at 11:00 am.
- 4th Council Meeting (Urgent) was held on 22 February 2017 at 1:00 pm.
- 5th Council Meeting was held on 27 February 2017 at 5:00 pm.
- 1st Meeting of the Technical Research Committee (TRC) was held on 28 February 2017 at 5:30 pm.

Non-standing Committees:
- 1st Meeting of the Advisory Committee was held on 9 February 2017 at 7:00 pm.
- 1st Meeting of the Information & Communication Technology Committee (ICTC) was held on 12 February 2017 at 5:30 pm.
- 1st Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 16 February 2017 at 6:00 pm.
- 1st Meeting of the Committee for Amendment of CA Order & Bye-Laws was held on 19 February 2017 at 5:30 pm.
- 1st Meeting of the Editorial Board (EB) was held on 23 February 2017 at 5:30 pm.
- 2nd Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 23 February 2017 at 6:00 pm.
- 1st Meeting of the Real Estate Committee (REC) was held on 25 February 2017 at 4:00 pm.
- 1st Meeting of the Media & Branding Committee was held on 25 February 2017 at 5:30 pm.

 

With best wishes to all,
Adeeb Hossain Khan FCA
President-ICAB

 

Update Date : 12/03/2017

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