President’s Communication : March 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

President's Communication: November - 2018

Assalamu Alaikum and greetings to you all!!

Dear Fellow Members,

Assalamu Alaikum. 
We are grateful to Almighty Allah for being successfully held the Election 2018. My special thanks to the ICAB Election Commission who worked hard for holding the election successfully and peaceful. On behalf of the Institute and on my behalf ‘Congratulations’ to the successful candidates. I wish the new Council would lead the Institute to a newer height in terms of professional integrity and dignity. 


This is my 11th Communication as President of this august and illustrious Institute. I will be delighted to receive your feedback on the initiatives that have been taken so far for development of the profession which would help further advancement of the Institute. 


I take this privilege to update you on some major activities accomplished and initiatives we have undertaken during November 2018.


ICAB Election 2018: Election of the ICAB Council, the Dhaka Regional Committee (DRC) and the Chittagong Regional Committee (CRC) for the period 2019-2021 was held on 24 November 2018 in Dhaka and Chittagong simultaneously. Members of Dhaka Regional Constituency cast their votes with great enthusiasm and elected 18 Council Members and 9 Dhaka Regional Committee (DRC) Members. Members of Chittagong constituency elected 2 Council Members through voting. Besides, 5 Members for Chittagong Regional Committee (CRC) were elected uncontested for the same tenure. This year the unique feature of the election is alongside the members residing in abroad, interested members could cast votes Online for the 1st time. Like the last year, Election Commission used digital Optical Counting System (OCS) for counting the votes.


My heartfelt congratulations to successful winners of Council Election of the Institute; Mr. Mohammed Humayun Kabir FCA, Mr. Adeeb Hossain Khan FCA, Mr. Kamrul Abedin FCA, Mr. Sabbir Ahmed FCA, Mr. Akhtar Sohel Kasem FCA, Mr. Mohammed Forkan Uddin FCA, Mr. Muhammad Farooq FCA, Mr. Md Shahadat Hossain FCA, Mr. A F Nesaruddin FCA, Mr. Nasir Uddin Ahmed FCA, Ms. Maria Howlader FCA, Mr. Md. Abdul Kader Joadder ACA, Mr. Mahmudul Hasan Khusru FCA, Mr. Gopal Chandra Ghosh FCA, Mr. Noor-E-Khoda Abdul Mobin FCA, Mr. Md. Moniruzzaman FCA, Dr. Md. Abu Sayed Khan FCA, Mr. Mahamud Hosain FCA, Mr. Sidhartha Barua FCA and Mr. Md Salim Uddin FCA. 
I also congratulate the elected Members of DRC; Mr. Miltan Bepari FCA, Mr. A.H.M. Ariful Islam FCA, Mr. Md Abu Khair Hasanul Hasif Sowdagar FCA, Mr. Ziaur Rahman Zia FCA, Mr. Md Amran Hossan FCA, Mr. Mohammad Redwanur Rahman FCA, Ms. Anika Sultana FCA, Mr. Md Razib Hossain FCA and Mr. Md Selim Reza FCA and the Members of CRC; Mr. Subash Chandra Chowdhury FCA, Mr. Imran Abu Hasan FCA, Mr. Kamrul Islam FCA, Mr. Mohammed Abul Kashem FCA and Mr. Mohammad Shaheed FCA. 


As per bye-law 13(1) of ICAB Bye-Laws 2004, the Council-ICAB had constituted Election Commission headed by our Past President Mr. AK Gulam Kibria FCA to conduct the election. Other members of the commission were Mr. M. idris Ali FCA, Mr. Mohammad Solaiman, Mr. Qudrate Khuda FCA and Mr. Md. Showkat Hossain FCA. 


Mr. Mohammad Shams-Ul-Islam, Managing Director & CEO Agrani Bank Limited, graced the concluding ceremony of Six month long Course on ‘Information Systems Audit (IS Audit) on 15 November 2018. I along with Secretary-ICAB Major General Muhammad Imrul Quayes, ndc, psc (retd) and resource persons of the training were present in the occasion. Total forty (40) participants attended the training. The objective of the training was to enhance the competence of professionals in IS Audit.
Thanks to the Resources persons Mr. Imran Ahmed FCA, CISA, Mr. Md. Tohidur Rahman Bhuiyan, Engr. Mr. Md. Mushfiqur Rahman, Mr. Abu Md. Sabbir Hassan Chowdhury, Mr. A. B. M. Ahasan Ullah, Mr. S.M. Tofayel Ahmad, Mr. Biswajit Saha, Mr. Mahmuda Binta Yousuf Hemo, Mr. Ayan De and Mr. S. M. Al-Mahmud Hashim for their efforts in successfully holding this training. ICAB is providing such training to the members of the Institute to enhance the adoptability of IT in their respective job. 


It is my pleasure and honor that I was present as the Chief Guest in the Workshop on ‘Understanding and implementing the newly revised Audit Report formats (ISA 700 (Revised) to ISA 720)’ organized by the Financial Reporting Council (FRC), GoB on 17 November 2018 at FRC office. I delivered a speech on the subject matter. The workshop was segmented into Interactive Sessions with real life case study and question & answer. From the workshop auditor could learn how to identify document, and communicate KAM, other information, and going concern to TCWG and in the audit report, etc. As a part of management or audit committee, they also knew the means and ways how to address the issues raised by an auditor.


The Resource person of the workshop were Mr. M Anwarul Karim FCA, Executive Director of Standard Setting, FRC, Ex-practicing CA and Mr. Mohammad Mohiuddin Ahmed FCA, Executive Director of Financial Report monitoring, FRC, Ex Head of Regulatory Reporting, Standard Chartered Bank. About 40 stakeholders participated in the workshop.


ICAB organized an Advanced Level Certificate Course on IFRS & IAS to enhance the competence of professionals serving in key positions of financial sector in Bangladesh on 17 November 2018 at Training Room of ICAB. The objective of the training were to acquire in depth knowledge about preparation of financial statements in compliances with IFRS & IAS, to consider specific cases of IFRS/IAS application. Resource persons of the training were Mr. Mohammad Salahuddin Chowdhury FCA, Mr. Snehasish Barua FCA, Mr. Sabbir Ahmed FCA, Mr. Sk. Md. Tarikul Islam FCA, Mr. Wasequl Huq Reagan FCA, Mr. Muhammad Aminul Hoque FCA and Mr. Muhammad Mehedi Hasan FCA. The training will be continued for 3 Months.


ICAB delegates visited Sydney, Australia in November 2018 to participate in different professional and networking events namely, IFAC Council, CA Worldwide, CAPA, SAFA-CAPA Joint Meeting, WCOA 2018, MPA Signing ceremony with CPA Australia, Meetings with ICAB ASPAC Chapter, CAANZ, CIPFA and CPA Ireland. 


The members of the delegation were Member council and Past Presidents Mr. Akhtar Sohel Kasem FCA, Mr. Anwaruddin Chowdhury FCA, Mr. ASM Nayeem FCA, Mr. M. Farhad Hussain FCA, Mr. Md. Humayun Kabir FCA, Director (Technical) Mr. Mahbub Ahmed Siddique FCA and myself.


Besides, Fellow Members of ICAB were Mr. Haider Ahmed Khan FCA, Mr. Zahirul Kium FCA, Mr. Mohammad Shoeb FCA, Mr. Md Shamim Ahamed FCA, Mr. Dilip Kumar Mandal FCA, Mr. Kamruzzaman FCA, Mr. ASM Hossain Tayiab FCA, Mr. Mohammad Ebadat Hossain Bhuiyan FCA, Mr. Abdul Hamid FCA, Mr. Mohammad Sayed Ahmed FCA, Mr. Jone Kumer Gupta FCA, Mr. Sujit Kumar Saha FCA, Mr. Shakil Ahmed FCA, Mr. Imtiazur Rahman FCA, Mr. Mohammad Eklas Uddin ACA, Mr. Md. Sayed Hassan ACA participated in the WCOA conference. Also ICAB members residing in Australia participated in the conference were Mr. Syed Aram Ullah ACA, Mr. Abu Haider Mohammed Kibria ACA and Mr. Mahiul Murshed ACA.


The World Congress of Accountants 2018, 4-day conference was started on 5 November 2018 in Sydney, Australia and ended on 8 November. WCOA is the premier accounting conference for the global business and finance community and brought together more than 6,000 delegates from over 130 countries to hear world-class speakers and leaders from the finance and business community. It was a momentous event for the global accountancy profession and a chance to engage with visionary leaders and bring expertise to the fore on the world stage. The Chartered Accountants Australia and New Zealand (CA ANZ) and CPA Australia co-hosted the twentieth WCOA in 2018. 


There was a substantial CA Bangladesh delegation - who have, hopefully been able to empower themselves to respond to the global challenges; ignite new business ideas; connect business and practices with the diversity of 6K plus professionals; explored the most innovative technologies supporting finance teams and accounting professionals. All these Take Aways provided a lifetime opportunity to engage with the global thinkers and change makers, who will shape the future of our profession and society at large. All ICAB delegates participated the keynotes and technical sessions in addition to meet the different delegates and staffs of global accountancy bodies.


IFAC Council meeting held on 1 November in International Convention Center (ICC) Sydney where IFAC President, Mr. Rachel Grimes opened the meeting. Representatives (voting, technical advisers and observers) from each member body were present in the Council. IFAC President, incumbent CEO and other seniors Executives, chairmen of IAASB and IPSASB mainly highlighted the achievements, challenges, future strategy and way forward of IFAC in changing global scenario in terms of authority, capacity, quality and development, standards setting and implementation responsibility, accountability, influence and mutual trust and confidence. In fact, the conference theme was named as “global, influential and trusted”.

 

On 1 November 2018, a dinner reception for all marketing directors was organized by CAW and CAANZ with the CAW branding team “Joy” from Australia. On 2 November 2018, a full day marketing directors meeting was held at “JOY” office in Sydney. All participants shared their marketing and branding initiatives, challenges and achievements. Currently, the main focus was made on “Trust Leadership”. Presentations were made by CAW, ISCA and CAANZ. On 3 November 2018, CAW Evening Reception at Australia Square, Sydney, where Presidents, CEOs, and Marketing Directors of CAW member bodies met and discussed different challenges and prospects of CAs and possible collaboration. ICAB team talked to the President and Executive Director of CAANZ as an initial discussion on the mutual collaboration and way forward for mutual collaboration. They also discussed with ISCA President and others. ICAEW CEO and Chairman of CA Worldwide, Mr. Michael Izza led the reception event.


On 4 November 2018, CAW Board and all MDs face-to-face full day meeting was conducted at Amora Hotel Jamison Sydney. Chairman of CA Worldwide chaired the meeting. 


On 3 November 2018, three meetings, Members Meeting of CAPA, EGM of CAPA and AFA‐CAPA Joint Forum were organized at ICC Sydney. In all those events, ICAB delegate came in focal point by his eloquent speeches delivered on contemporary professional development issues in country and global perspective. The first CAPA‐SAFA Joint Strategic structural meeting, the second after the CAPA-SAFA first joint meeting initiative crystallised in Kathmandu in May this year, was held at CA ANZ Office, Sydney, Australia on 4 November 2018. I myself, Past President and Council Member and SAFA immediate Past President ASM Nayeem FCA and Anwaruddin Chowdhury, Council Member & Past President-ICAB and Director, CAPA Board participated in the meeting. 


Besides, as CAPA Board Director Mr. Anwaruddin Chowdhury participated in Board Meeting of CAPA on 4 November and Members’ Meeting & Extraordinary General Meeting and AFA‐CAPA Joint Forum on 3 November 2018. 


On sidelines of the World Congress of Accountants, on 7 November 2018 at ICC Sydney, I and President CPA Australia officially handed over the Membership Pathways Agreement with CPA Australia.


Few of the respected Member Council and Past Presidents of ICAB, Technical Director, Secretary and Members from ICAB ASPAC Chapter and other members of ICAB were present in the handover ceremony from ICAB end. From CPA Australia, the President, CEO, Senior Executives from Australia and from Singapore were also present in the ceremony. 


On 6 November 2018, after the end of 2nd day of WCOA, at around 7.00pm all ICAB delegates met with the members of ICAB ASPAC Chapters in a detailed discussion session on chapter matters and professional issues. It was gathering of around 35 members of ICAB. 


Besides, the discussion with CAANZ President and Executive Director at CAW Reception Event was held on 5 November 2018, ICAB delegates also met with CAANZ relevant staffs relating to mutual collaboration and membership pathway programme during the break session of WCOA 2018 at CAANZ stall there. CAANZ staff assured that they would start the process as soon as possible in this regard.


On 8 November 2018, ICAB delegates attended a discussion meeting with CIPFA, UK delegates at their stall there on strengthening the partnership and exploring the benefit from the collaboration between ICAB and CIPFA. the CEO, the Managing Director, the Education and the Membership and Head of Marketing – New and Emerging Markets of CIPFA were from CIPFA, UK.


On 8 November 2018, ICAB delegates attended a discussion meeting with CPA Ireland at ICC Sydney on renewal of MRA between ICAB and CPA Ireland for further period. I shared some view points from ICAB end on few clauses of the possible MRA and the CPA Ireland delegates assured that they would come back with the revised one. The meeting agreed to explore the opportunity of having MRA further for mutual collaboration and benefits of the members and profession. 


A team of ICAB led by me met Mr. Mohammad Muslim Chowdhury, Comptroller and Auditor General, GoB at latter’s office on 20 November 2018. The other members of the team were ICAB Vice President Mr. Moddassar Ahmed Siddique FCA, Past President & Council Members Mr. ASM Nayeem FCA, Mr. Showkat Hossain FCA and Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd). We discussed different aspects of development of the profession particularly in transparency and ethical standards.


A team of ICAB led by me also met Engineer Mosharraf Hossain, MP, Minister, Housing and Public Works Ministry, GoB at Bangladesh Secretariat on 20 November 2018. The other members of the team were ICAB Vice President Mr. Moddassar Ahmed Siddique FCA, Past President & Council Members Mr. ASM Nayeem FCA, Mr. Showkat Hossain FCA and Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd). We discussed different professional issues including allocation of land for ICAB academic campus, etc.


The Institute of Chartered Accountants of Bangladesh (ICAB), one of the first founding members of SAFA observed the International Accounting Day 2018 on 10 November 2018 in Bangladesh. A rally was brought out by leading members of the Institute and attended by multitudes of pupil from different CA firms, public and private universities to commemorate this day. 


ICAB Vice President Mr. Mahmudul Hasan Khusru FCA, Council Member Mr. Mostafa Kamal FCA, the Chairman of Dhaka Regional Committee- ICAB, Mr. Md. Ali Akther Rezvi FCA and ICAB Secretary Major General Imrul Quayes, ndc, psc (retd) led the rally from Hatirjheel all the way to CA Bhaban in Karwan Bazar, Dhaka.


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 2018:


Standing Committees:            
-    6th Meeting of the Articled Students Committee (ASC) was held on 01 November 2018 at 5:30 pm.
-    11th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 13 November 2018 at 6:00 pm.


Non-standing Committees:
-    3rd Meeting of the Members Services & Welfare Committee (MSWC) was held on 08 November 2018 at 6:00 pm.
-    10th Meeting of the Renovation Committee was held on 13 November 2018 at 5:00 pm.
Standing and Non-Standing Sub-committees:
-    Sub-Committee Meeting of the Committee for Amendment of CA Order and Bye Laws was held on 7 November 2018 at 6:00 pm.
No more today. Wish you all the best for everyone.


Dewan Nurul Islam FCA 
President

 

 

Update Date : 11/12/2018

President's Communication: October - 2018

Assalamu Alaikum and greetings to you all!!

Dear Fellow Members,

My presidency has come across the ten months and during this enumerated period, enormous initiatives and efforts have been deployed for increasing enrolment of meritorious students in chartered accountancy study and to strengthen the professional integrity with enhanced image of the Institute. Revolved on my activities since January 2018, the outcomes of those might not be come out yet in full-fledged, however in near future the Institute will reap the benefits. It has been made eventful progress in terms of education, training, setting standards, quality assurance, IT, infrastructure, management, professional conduct and in other relevant areas. Having had remarkable successes in many folds, ICAB is yet on the route to achieve excellence. Still we are digging for new opportunities and untapped areas whereon more concentration for enhancing the reputation of the Institute are required. 

Now I like to let you know about the major activities implemented in the month of October 2018. 


ICAB held its Advisory Committee Meeting of the Council at  Council Hall on 11 October 2018.  It was chaired by Past President Mr. ABM Azizuddin FCA. I gave a short presentation  about the activities of  ICAB  and the strategic plan during 2018. Demonstrating my action plan, I informed the meeting that ICAB is implementing practical IT based audit education and training to ensure transparency and good governance in financial sector. I also said, ICAB is trying to implement the IFAC and other compliance requirements and giving highest importance on improvement of audit and assurance quality and capacity building of the Institute.


ICAB Centre for Professional Excellence (ICPE) has organized the written test for the post of “Audit Officer” for Pubali Bank on 6 October, 2018 at ICAB Central Library in response to the request of the Bank. A team comprised with officials of ICAB under the supervision of Secretary-ICAB organized the entire process of the written test.


A team of ICAB led by me participated in SAFA events including Board meeting, and IFAC PAO Development Workshop in Sri Lanka on 17-19 October 2018. The other members of the team were Vice President Mr. Mahmudul Hasan Khusru FCA and Director(Technical) Mr. Mahbub Ahmed Siddique FCA.  
I along with my council colleagues and the high officials of the Institute held a meeting with Mr. Justin West, ICAEW's Head of New Business Opportunities on 1 October 2018 at the Council Hall. The meeting covered the issues relating to strengthening the mutual collaboration, update of examination under new syllabus through online process and the ethical matters.


A meeting between International Finance Corporation (IFC) and Women In Leadership (WIL) of ICAB was held on 8 October 2018 at ICAB Mini Conference Room. The main focus of the meeting was to organize a training on Corporate Governance Board and leadership for ICAB members. The International Finance Corporation (IFC) of the World Bank Group, Bangladesh has expressed willingness to arrange the workshop for Members of ICAB, with the participation of 50 percent participants from the member of ICAB Women In Leadership committee. We appreciated the proposal highly and gave necessary instructions to ICPE in this regard. ICAB Past President and Council Member & Chairman of WIL Ms. Parveen Mahmud FCA, Council Member and Past President Mr. Nasiruddin Ahmed FCA, Vice President Mr. Mahmudul Hasan Khusru FCA, Council Member Mr. Muhammad Farooq FCA,  Secretary-ICAB Maj Gen Muhammad Imrul Quayes, ndc, psc (retd), Ms. Sheela R. Rahman, Consultant, Corporate Governance Advisory Services, South Asia Region, IFC, Ms. Shifat Ara of IFC  and my self participated in the meeting. 


A team of ICAB led by me visited Insurance Development & Regulatory Authority (IDRA) and held a meeting with IDRA Chairman Mr. Shafiqur Rahman Patwary on 29 October at his office.  We discussed on various professional issues including  special audit for both Life Insurance and General Insurance Companies. Council Member Mr. Muhammad Farooq FCA, Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd.), IDRA Member Dr. Mosharraf Hossain, Mr. Bakul Chand Das, Mr. Borhan Uddin Ahmed were present in the meeting.


A Quiz contest to inspire the meritorious students to study Chartered Accountancy (CA) was held at CA Bhaban where 32 students from 16 prominent public and private universities participated in the final round of the Quiz contest held on Friday, 26 October 218. I was present in the programme as the chief guest. I gave an inspirational speech for the students to pursue the CA study as their career path. ICAB Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Md Mahamud Hosain FCA, Secretary Maj Gen Muhammad Imrul Quayes, ndc, psc (Retd), DRC Chairman Mr. Md Ali Akther Rezvi FCA and other members of DRC also attended the programme.


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 2018:
Standing Committees:
-    14th Council Meeting was held on 04 October 2018 at 5:30 pm.
-    5th Meeting of the Executive Committee (EC) was held on 5:30 pm.
-    4th Meeting of the Quality Assurance Board (QAB) was held on 10 October 2018 at 5:30 pm.
-    9th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 16 October 2018 at 6:00 pm.
-    4th Meeting of the Technical & Research Committee (TRC) was held on 22 October 2018 at 5:30 pm.
-    5th Meeting of the Board of Studies (BoS) was held on 23 October 2018 at 6:00 pm.
-    15th Council Meeting was held on 28 October 2018 at 5:30 pm.
-    10th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 30 October 2018 at 6:00 pm.

Non-standing Committees:
-    ICAB-ICAEW Coordination Committee Meeting was held on 01 October 2018 at 5:00 pm.
-    8th Meeting of the Renovation Committee was held on 03 October 2018 at 5:00 pm.
-    3rd Meeting of the Media & Branding Committee was held on 07 October 2018 at 6:00 pm.
-    1st Meeting of the Public Finance & Public Sector Accounting was held on 10 October 2018 at 6:30 pm.
-    2nd Meeting of the Advisory Committee was held on 11 October 2018 at 5:00 pm.
-    9th Meeting of the Renovation Committee was held on 29 October 2018 at 5:00 pm.
-    3rd Meeting of the Audit Committee was held on 30 October 2018 at 5:30 pm.

Standing and Non-Standing Sub-committees:
-    10-Member Sub-Committee Meeting of the Articled Students Committee (ASC) was held on 9 October 2018 at 5:30 pm.
-    2nd Meeting of the Working Group for (NGOs, MRA and MFIs of the Professional Development Committee (PDC) was held on 21 October 2018 at 6:00 pm. 
-    2nd Sub-Committee Meeting of the Members Services & Welfare Committee (MSWC) was held on 29 October 2018 at 6:00 pm.

No more today. Wish you all the best for everyone.
Dewan Nurul Islam FCA 
President

 

Update Date : 27/11/2018

President's Communication: August - 2018

Assalamu Alaikum and greetings to you all!!

Dear Fellow Members, I hope you all enjoyed the Eid vacation with your near and dear ones. May Allah accept your devotion and sacrifice and grant peace and prosperity. This year many devotees from Bangladesh have performed Hajj in Makka. I wish their happy and safe return.

Dear members, you have already known that ICAB has formed a 5-member Election Commission headed by Mr. AK Gulam Kibria FCA. The Institute has been providing all sorts of supports to the Commission to do its routine works. The Commission is fully independent and I request all the members of the Institute to abide by the rules and regulations promulgated by the Commission in coming days. I hope they will organize a wonderful council election this year. I wish them a success.

I offer my heartfelt congratulations to all the newly qualified CAs and wish them every success in their professional career ahead. I welcome them to become members of the Institute. I hope they will render immense contribution to the country throughout their services as Chartered Accountants.

I urged all the fraternities to work aligned to uphold the professional integrity and ethical values for the betterment of the country. As usually during this time of election, the Institute has kept all its activities within the limit, however we had a number of events in the month of August.

Now I want to let you update about the activities taken by the Institute during the month of August 2018.

Ensuring cybersecurity requires coordinated efforts through an information system. So, mass awareness is required to prevent the crimes and every citizens should have the responsibility to learn the law regarding cyber crimes. The observations came at a workshop on ‘Cyber Security for Personal and Professional Safety’ organised by Women and Leadership (WIL) Committee of ICAB and Take Back The Tech, BdOSN on 11 August 2018 at CA Bhaban.

I delivered welcome address and Ms. Parveen Mahmud FCA, Member Council & Past President and Chairman of the Women in Leadership (WIL) Committee, ICAB gave the opening remarks. Mr. Khondkar Atique-e-Rabbani FCA, Managing Director, the Computers Ltd moderated the session.

The Keynote presentation on “introduction to cyber security in daily life, personal safety in internet, cyber bullying, sexting, online predators, do’s and dont’s, web safety Tips” was made jointly by Mr. Munir Hasan, General Secretary, Bangladesh Open Source Network (BdOSN) and Mr. Mohammad Tohidur Rahman Bhuiyan, MD & CEO, Right Time Limited.

The panel discussants were Ms. Luna Shamsuddoha, Chairman, Janata Bank Limited & President, BWIT, Dr. Lafifa Jamal, Chairperson, Department of Robotics and Mechatronics Engineering, University of Dhaka, Ms. Kaniz Fatema, General Manager, Market Strategy & Planning, Robi-Axiata, Bangladesh and Mr. Sayed Nasirullah, Assistant Commissioner, Cyber Security & Crime Division, Dhaka Metropolitan Police, Dhaka.

The meeting of the Jury Board of Review Committee of Published Accounts & Reports (RCPAR) 2018 was held at ICAB Council Room on 28 August 2018.

Mr.Md. Matiul Islam FCA, Chairman of the Jury Board and country’s first finance secretary became aware about the background of the Best Published Accounts (BPA) Awards, evaluation procedure for the Competition, role of RCPAR in this process, its terms of reference and finally, the results of ICAB National Award 2017. The Jury Board expressed their full satisfaction over the process and procedures of the Award.

The other members of the Jury Board are Prof. Wahiduddin Mahmud, former finance adviser to caretaker government of Bangladesh, Ms . Rasheda K Chowdhury, former adviser to caretaker government of Bangladesh, Prof. Mustafizur Rahman, distinguished fellow, Centre for Policy Dialogue, Mr. Faruk Ahmad Siddiqi, former chairman, Bangladesh Securities & Exchange Commission and Mr. Shahiduzzaman Khan, Acting Editor, The Financial Express.

The Review Committee for Published Accounts & Reports (RCPAR) is one of the Non-Standing Committees under Council, ICAB. Since 2001, ICAB has been organizing the National Award for Best Presented Annual Reports for listed entities and NGOs in the country. The aim of the ICAB National Award is to recognize high quality presentation and the disclosure in Accounting and Financial Statements in annual reports, to ensure accountability and transparency in the management of the listed companies in both public and private sector. It also brings a greater sense of responsibility among the stakeholders and corporate management for corporate culture in the country.

The Institute of Chartered Accountants of Bangladesh (ICAB) organized specialized training on Digital Identification of Audit Report (DIAR) for the members of the Institute on 7-8 August in Dhaka and 11 August in Chittagong. About 30 members received the training in two sessions at CA Bhaban where in inaugural session ICAB Council Member Mr. Mostafa Kamal FCA made a deliberation while ICAB Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) witnessed. The resource persons in the sessions were Director (Technical) Mr.Mahbub Ahmed Siddique FCA and Database System Manager Mr. Delwar Hossain. In Chittagong a total 11 firms with their representatives participated in the programme.

The overall objective of this training is to strengthen capacity building of Audit Firms to update firms’ database as well as to prepare year-wise clients list timely and appropriately to ensure more transparency, accountability and quality assurance of audit firms.

To prevent the malpractice, ICAB has developed the DIAR system under ERP system in which the list of auditors and their clients list are stored in database from where anyone could find the name of auditors and the company audited for a particular financial year.

ICAB signed two Memorandum of Understandings (MoUs) with United Hospital Limited (UHL) and Dhaka Bank Limited (DBL) on 9 August 2018.

The first MoU with UHL aims at privilege medical and hospital service facilities for ICAB members, employees and their dependents. And the second MoU with DBL aims at payroll related services on preferential terms for the ICAB employees.

Dr. Shagufa Anwar, Chief of Communication & Business Development-UHL, Mr. Emranul Huq, Additional Managing Director-DBL, Mr. Darashiko Khasru, Chief Financial Officer-DBL, myself along with Mr. Mahmudul Hasan Khusru FCA, Vice President (E&T)-ICAB, Mr.Mahamud Hosain FCA, Vice President (T&R)-ICAB, Mr.Mostafa Kamal FCA, Chairman of MSWC & HR Committee-ICAB, Council Members-ICAB, Maj Gen Muhammad Imrul Quayes, ndc, psc (retd), Secretary-ICAB and officials from UHL, DBL and ICAB witnessed the signing ceremony.

The Committee for Small and Medium Practitioners (SMP) of ICAB organised a SMP conference for its practicing members on 11 August 2015 at the Conference Hall of ICAB-Chittagong Regional Office.

Major deliberations of the conference were on audit documents, compliance required for practice, latest findings of QAB and IDC of ICAB, Annual Return (AR) of ICAB, Return submitted to RJSC, presentation on issuing Audit Report. These deliberations definitely enhanced the practicing members’ capacity which is one of the man objectives of the SMP committee.

ICAB Vice President Mr. Mahamud Hosain FCA, Council Member Mr. Md. Shahadat Hossain FCA, ICAB Director (Technical) Mr. Mahbub Ahmed Siddique FCA, Senior Deputy Director (PC) Mr. Md. Saiful Islam FCA were present in the conference.

I along with Director (Technical) Mr. Mahbub Ahmed Siddique FCA participated in a meeting summoned by the Ministry of Commerce, GoB at Bangladesh Secretariat on 13 August 2018. The meeting was convened to discuss the different sections of proposed Companies Act 2018 to remove the obstacles in investment in Bangladesh. Commerce Secretary Shubhashish Bose presided over the meeting. Representatives of BIDA, DCCI, Law, Justice and Parliamentary Affairs Ministry, GoB, NBR, Bangladesh Bank, BSEC, Ministry of Commerce,GoB, RJSC, ICMAB, ICSB, FBCCI, BCCI, DCCI and Prime Minister’s Office were present in the meeting.

Delegates of the Institute of Chartered Accountants of Bangladesh (CA Bangladesh) paid a courtesy call on Mr. Mohammad Muslim Chowdhury, Comptroller and Auditor General of Bangladesh at latter’s office on 13 August 2018. The Office of the Comptroller & Auditor General (C&AG) is the Supreme Audit Institution, whereby the ICAB delegates discussed various issues including potential joint works by two stream of Audits (CA Bangladesh and Office of C&AG), how effectively collaborate between two institutes for ensuring accountability and transparency to aide in development of country, knowledge and resources sharing etc. We also congratulated Mr. Mohammad Muslim Chowdhury for being appointed as the Comptroller & Auditors General of Bangladesh. ICAB delegation led by me was comprised of ICAB Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Mahamud Hosain FCA, Past Presidents Mr. Anwaruddin Chowdhury FCA, Mr. M Farhad Hussain FCA, Mr. Md. Humayun Kabir FCA, Mr. Kamrul Abedin FCA, Council Members Mr. AF Nesaruddin FCA, Mr. Mostafa Kamal FCA and Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd).

A meeting regarding audit of Union Parishads under LGSP-3 project was held at LGSP-3 office on 12 August 2018. ICAB Senior Deputy Director (PC) Mr. Md. Saiful Islam FCA participated in the meeting upon being nominated by me as I was passing a busy schedule during this time.

A meeting regarding audit of Union Parishads under LGSP-3 project was held at LGSP-3 office on 12 August 2018. ICAB Senior Deputy Director (PC) Mr. Md. Saiful Islam FCA participated in the meeting upon being nominated by me as I was passing a busy schedule during this time.

A meeting regarding audit of Union Parishads under LGSP-3 project was held at LGSP-3 office on 12 August 2018. ICAB Senior Deputy Director (PC) Mr. Md. Saiful Islam FCA participated in the meeting upon being nominated by me as I was passing a busy schedule during this time.

A team of ICAB led by me visited Insurance Development & Regulatory Authority (IDRA) on 7 August at latter’s office. We had a meeting with IDRA Chairman Mr. Shafiqul Islam Patwari n the meeting . We discussed on various professional issues including special audit for both Life Insurance and General Insurance Companies. ICAB Vice President Mahmudul Hasan Khusru FCA, Fellow Member Abdul Hamid FCA, Dr. Mosharraf Hossain FCA and Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd) were present in the meeting.

As per bye-law 13(1) of ICAB Bye-Laws 2004, the Council-ICAB in its meeting held on 31 July 2018 has constituted Election Commission as under to hold the Election of Council for the tenure 2019-2021 and the Regional Committee(s) of the Institute for the same tenure:

Chief Election commissioner-Mr. AK Gulam Kibria FCA and Elections Commissioners-Mr. M. idris Ali FCA (95), Mr. Mohammad Solaiman FCA (161), Mr. Qudrate Khuda FCA (191) and Mr. Md. Showkat Hossain FCA (196).

As Special Guest I attended the orientation programme for the Master of Professional Accounting (MPA), 7th Batch at Faculty of Business Studies, University of Dhaka on 3 August 2018. Professor Shebli Rubayat-ul-Islam, Dean Faculty of Business Studies, Professor Dr. Riazur Rahman Chowdhury, Chairman, Department of Accounting & Information Systems and Professor Md. Maksudur Rahman Sarker, FCMA, Director, MPA programme, AIS were also present in the programme.

To attract of brilliant students of different universities a seminar captioned “Chartered Accountancy: Career Excellence” organised by Dhaka Regional Committee, ICAB at Conference room of Rangpur Chamber of Commerce & Industry (RCCI) on 3 August 2018. Prof. Md. Shahinoor Rahman, Chairman of AIS department of Begum Rokeya University, Rangpur was the session Chair where Vice President (T&R) Mr.Mahamud Hosain FCA was the lead speaker of the programme. Mr.Md. Shahadat Hossain FCA and Mr. Mostafa Kamal FCA, Council Members of ICAB also present in the session. Mr. Al Amin Siddiki FCA, Past Chairman of DRC presented the key note paper and Mr. SK Ashik Iqbal ACA moderated the session. Around 300 students from different sessions of the department were participated in the programme.

Common interest Roundtable Discussion on ‘Career Potentials of CAs and Way forward’ is one of major milestones of the ICAB, that aims to provide ideas and curricula in progress for CA Professionals. Leaders from the HR arena in corporate world and different headhunting firms facilitated discussion among table participants.

We Mourn

On behalf of the Council of ICAB, I sent a condolence letter to the bereaved family Mr. Anup Kumar Mukherjee FCA (Enrl. No. 1107), Chief Financial Officer of Apex Tannery Ltd. Who died at Square Hospital on 12 August 2018. May Allah grant him eternal peace.

Congratulations to Newly Qualified CAs !!

The Professional Examinations of May-June 2018 session-ICAB witnessed a good number of students qualifying in their final examination - 30 students have passed in the Final Examinations and became eligible for the membership of ICAB. The Council, ICAB congratulates the Newly Qualified CAs and wish them all success in profession as ICAB Members.


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 2018:

Standing Committees:
-    10th Council Meeting was held on 5 August 2018 at 5:00 pm.
-    7th Meeting of the Investigation and Disciplinary Committee (IDC) was held on 7 August 2018 at 6:00 pm.
-    3rd Meeting of the Technical and Research Committee (TRC) was held on 9 August 2018 at 5:30 pm.
-    11th Council Meeting was held on 16 August 2018 at 5:00 pm.
-    3rd Meeting of the Examination Committee was held on 30 August 2018 at 1:30 pm.
-    12th Council Meeting was held on 30 August 2018 at 3:00 pm.

Non-standing Committees:
-    4th Meeting of the Information & Communication Technology Committee (ICT) was held on 4 August 2018 at 5:00 pm.
-    1st Meeting of the SAFA, CAPA & International Affairs Committee was held on 6 August 2018 at 6:00 pm.
-    6th Meeting of the Renovation Committee was held on 7 August 2018 at 5:00 pm.
-    2nd Meeting of the Member Services & Welfare Committee (MSWC) was held on 8 August 2018 at 6:00 pm.
-    2nd Meeting of the HR Committee was held on 9 August 2018 at 5:00 pm
-    7th Meeting of the Renovation Committee was held on 16 August 2018 at 3:30 pm.
-    2nd Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 16 August 2018 at 5:30 pm.
-    3rd Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 28 August 2018 at 3:30 pm.

Standing and Non-Standing Sub-committees:
-    10-Member Sub-Committee of the Articled Students Committee (ASC) was held on 13 August 2018 at 3:00 pm.

No more today. Wish you all the best for everyone.


Dewan Nurul Islam FCA
President

 

Update Date : 13/09/2018

President's Communication: July - 2018

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 all the months were quite eventful. I have realized sitting in the "Chair” that the number of effort, the office bearers have been putting for the betterment of our beloved profession and the Institute. My heartfelt gratitude to the members of the Council for their support and tireless effort.

My dear fraternities, you all would have observed that I have used the time without losing streak. Many initiatives have been taken to bring benefits and opportunities for the members at home and abroad. This month we have signed a MoU with CPA Australia which would lead the member’s easy way to become member of this accounting body. Further, ICAB held a very fruitful meeting with his excellence Tan Sri Dato Professor Joseph Adaikalam, Founder and Executive Chairman of Binary University – Malaysia. Members could pursue higher degree in the university. ICAB has been trying since 2017 to come across a collaboration with an International University and it is in the final stage of this process with Binary University. More on, such initiatives are under process to open a broader horizon for the members.

I am now highlighting our monthly activities of July 2018 that have taken place under the ambit of action plan 2018 of the council.

Mr. CQK Mustaq Ahmed, Chairman Financial Reporting Council was the chief guest at a members’ conference on the conceptual framework for financial reporting as issued by the International Accounting Standards Board (IASB) organized by the Institute of Chartered Accountants of Bangladesh (ICAB) on 20 July 2018.

Mr. Abdul Kader Joaddar FCA, deputy managing director of BRAC Bank Ltd, presented the keynote paper at another Members’ conference on ‘prevailing money market situation and the way forward’ organized by the Institute of Chartered Accountants of Bangladesh (ICAB) at its auditorium on 21 July 2018. Dr. Mustafizur Rahman, distinguished fellow of the leading local think tank Centre for Policy Dialogue (CPD), was present there as the chief guest. Mr. Syed Mahbubur Rahman, Managing Director & CEO of Dhaka Bank and Chairman, Association of Bankers, Bangladesh (ABB) was present as Special Guest. I delivered a welcome speech while Mr. Mahmudul Hasan Khusru FCA, Member Council and Vice President moderated the conference. Mr. Sajjadaur Rahman, Business Editor, Daily Star, Mr. Md. Mahbubur Rahman FCA, Deputy Managing Director, Dhaka Bank Limited, Mr. Mohammad Habibur Rahman Chowdhury FCA, Deputy Managing Director, Prime Bank Limited were the panel discussants of the conference. My gratitude and thanks to the Chief Guest and the Special Guest for their presence in the conference. I thanked the panelists who managed their times and thoughtful deliberations.

I delivered a welcome speech and Mr. Mahmudul Hasan Khusru FCA, Member Council and Vice President ICAB moderated the conference.

Mr. Snehasish Barua FCA, Partner, Snehasish Mahmud & Co.- Chartered Accountants presented the Key Notepaper. Mr. Sabbir Ahmed FCA, Partner, Hoda Vasi Chowdhury & Co, Mr. Md. Rokonuzzaman FCA, Partner, ACNABIN, Mr. Sk. Md. Tarikul Islam FCA, Director, Audit & Advisory, Hoda Vasi Chowdhury & Co, Mr. Md. Sk. Ashik Iqbal ACA, CPA and Mr. Wasequl Huq Reagan ACA, Partner, Mahfel Huq & Co were the panelists of the discussion.

We are grateful to the chairman of FRC for his gracious presence in the conference despite his busy schedules. I believe members would be benefited from knowledge emanated from both the conferences and help them in discharging their services.

ICAB Small and Medium Practitioners (SMP) Committee organised Small and Medium Practitioners’ (SMP) Conference 2018 at ICPE training room on 14 July 2018 with a view to enhancing the capacity of practicing members of the Institute. The conference also made conversant the members of this institute with a different aspect of auditing and how to detect malpractice of the organizations who are preparing dual financial statements. The Chairman of the SMP Committee Mr. Md. Shahadat Hossain FCA conducted the conference. I gave welcome speech and Vice President Mr. Mahmudul Hasan Khusru FCA, Council Member & Co-Chairman of the Committee Dr. Jamshed Sanyiath Ahmed Choudhury FCA, Council Members Mr. Muhammad Farooq FCA, Mr. Mostafa Kamal FCA and Past President Mr. Md. Abdus Salam FCA spoke at the conference. The conference resource persons were Mr. Sabbir Ahmed, Partner, Hoda Vasi Chowdhury & Co, ICAB Director (Technical) Mr. Mahbub Ahmed Siddique FCA, Senior Deputy Director Mr. Md. Saiful Islam FCA and Database System Manager Mohammad Delwar Hossain. About 60 practicing members of the Institute participated in 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.

As part of media and branding initiatives, ICAB participated in Dhaka University (DU) Career Fest 2018 at Teachers Students Centre (TSC) on 16-17 July 2018. ICAB displayed Audio Visual (AV) about ICAB and its curriculum at the stall, besides showcasing ICAB’s different publications. Students from different departments of the University visited the stall during the festival. They also participated in ICAB’s instant quiz contest and received the prize as 1st, 2nd and 3rd winners. This quiz programme created a buzz in the fair.

A Memorandum of Understanding (MoU) between Local Government Division (LGD), GoB and the Institute of Chartered Accountants of Bangladesh (ICAB) on Local Governance Support Project-3 (LGSP-3) was signed on 25 July 2018 at ICAB Council Hall. On behalf of the Institute I and Mr. Sardar Sarafat Ali, Project Director-LGSP-3, Local Government Division, GoB have signed the MoU.

During this ceremony ICAB Council Member & Past President Ms. Parveen Mahmud FCA, Council Member Mr. Md. Shahadat Hossain FCA, Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd), Director (Technical) Mr. Mahbub Ahmed Siddique FCA and LGSP Senior Audit Specialist Mr. AKM Rahmat Ullah FCA, among others were present in the occasion.

Another Memorandum of Understanding (MoU) was signed between Certified Practising Accountant (CPA) Australia and the Institute of Chartered Accountants of Bangladesh (ICAB) on 20 July 22018. I signed the MoU on behalf of the Institute while Chairman, Financial Reporting Council (FRC) CQK Mustaq Ahmed and other office bearers were present in the ceremony.

Under this MoU, ICAB members can be the members of CPA Australia just after passing only 4 papers out of their 12 papers.

Under this MoU, ICAB members can be the members of CPA Australia just after passing only 4 papers out of their 12 papers.

ICAB recognizes the valued contribution of the team working on this agreement including the Secretary, ICAB Asia Pacific Chapter in Sydney, Australia. ICAB believes that this agreement will explore the greater opportunity for all ICAB members especially members residing in Australia.

ICAB had a wonderful meeting with His Excellency Tan Sri Dato Professor Joseph Adaikalam, Founder and Executive Chairman of Binary University – Malaysia. H. E. Tan Sri has been acting as Advisor to last 4 Prime Ministers of Malaysia for over 20 years.

ICAB has been trying since 2017 to come across a collaboration with an International University and is in the final stage of this process with Binary University. Binary University is a Five Star rated ‘A’ grade University in Malaysia having 23 Campuses all over the world.

This is going to be an extensively beneficial international collaboration for ICAB members. Under the MoU between Binary University and ICAB, members of ICAB will be able to pursue Ph.D., DBA, MBA/BBA. On the other hand, Binary University will send their academicians at ICAB on a regular basis to conduct the academic activities.

Lastly, I would like to extend my sincere condolences on behalf of the Council of ICAB for the sad passing away of Mr. Mujibul Huque FCA (Enrl. 180), Ex-partner of ARTISAN Chartered Accountants, who had died due to old age complications at Apollo Hospital, Dhaka on 15 July 2018. (Innah Lillahe ... Rajeun). He was 73.

I was very dazed when I heard this news, and on behalf of the Council of ICAB, I sent a condolence letter to the bereaved family and our prayers to the departed soul for eternal peace!


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 2018:

Standing Committees:
-    5th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 7 July 2018 at 11:00 am.
-    3rd Meeting of the Articled Students Committee (ASC) was held on 8 July 2018 at 6:00 pm.
-    3rd Meeting of the Quality Assurance Board (QAB) was held on 9 July 2018 at 5:30 pm.
-    8th Council Meeting was held on 19 July 2018 at 5:00 pm.
-    2nd Meeting of the Examination Committee was held on 23 July 2018 at 5:30 pm.
-    6th Meeting of the Investigation and Disciplinary Committee (IDC) was held on 30 July 2018 at 11:00 am.
-    9th Meeting of the Council was held on 31 July 2018 at 5:30 pm.

Non-standing Committees:
-    2nd Meeting of the Renovation Committee was held on 1 July 2018 at 3:00 pm.
-    3rd Meeting of the Renovation Committee was held on 8 July 2018 at 4:00 pm.
-    1st Meeting of the Audit Committee was held on 11 July 2018 at 5:30 pm.
-    4th Meeting of the Renovation Committee was held on 15 July 2018 at 7:15 pm.
-    2nd Meeting of the Committee for Women in Leadership was held on 18 July 2018 at 5:30 pm.
-    5th Meeting of the Renovation Committee was held on 26 July 2018 at 4:00 pm.
-    2nd Meeting of the Audit Committee was held on 29 July 2018 at 5:30 pm.

Standing and Non-Standing Sub-committees:
-    6-Member Sub-Committee Meeting constituted by the Board of Studies (BoS) was held on 11 July 2018 at 6:30 pm.
-    1st Meeting of the Sub-Committee of Media & Branding for Networking & Roundtable was held on 15 July 2018 at 6:30 pm.

No more today. Wish you all the best for everyone.


Dewan Nurul Islam FCA
President

 

Update Date : 12/08/2018

President's Communication: June - 2018

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

Hope my dear fraternity and fellow members of the Institute enjoyed a blessed Eid ul Fitr with their near and dear ones after a month of fasting. We had the graceful blessing of Almighty Allah (SWT), as we have once again passed through another holy month of Ramadan. Due to Ramadan & Eid-ul-Fitr, we had to shrink our Institute activities in the second half of June. However, efforts were taken to make all the working days eventful. During this month, we arranged three members’ conference programme and a number of training sessions for the members.

My dear fraternities, now, let me update you on some major activities and initiatives that were launched and accomplished during the month of July 2018:

Mr. Mosharraf Hossain Bhuiyan, ndc, Senior Secretary, Internal Resources Division (IRD)& Chairman, National Board of Revenue (NBR), Ministry of Finance was present as the chief guest at the event ‘Post Budget Discussion-2018’, organized by the Institute on 21 June 2018 in the ICAB Auditorium, CA Bhaban. Past President & Council Member Mr. Md. Humayun Kabir FCA moderated the floor discussion. Council Member Mr. Md. Shahadat Hossain FCA presented the keynote paper and I delivered the welcome speech of the conference.

I would like to convey my special gratitude and thanks to the NBR Chairman, who gave us his valuable time in our events, despite his busy schedules. I would also like to thank Mr. Md. Humayun Kabir FCA and Mr. Md. Shahadat Hossain FCA for their best efforts in making the conference successful

Dr. Swapan Kumar Bala FCMA, Commissioner, Bangladesh Securities and Exchange Commission (BSEC) was present at a Members’ Conference on ‘New Format of Auditor’s Report Based on Latest International Standards on Auditing’, organized by the Institute on 29 June 2018 at its Auditorium. Mr. Asif Zakir Chowdhury ACA, Manager-Assurance, Ernst & Young –London, UK presented the keynote paper while Mr. Mahamud Hosain FCA, Member Council and Vice President moderated the conference.

Mr. Sabbir Ahmed FCA, Partner, Hoda Vasi Chowdhury & Co., Chartered Accountants, Mr. Md. Rokonuzzaman FCA, Partner, ACNABIN, Chartered Accountants and Mr. Sk. Ashik Iqbal ACA, CPA were the panel speakers. The speakers had a wonderful discussion in which many useful directions were discussed regarding new format of auditor’s reports in the financial statements. I believe practicing members of this Institute will be highly benefited from this discussion. My gratitude and thanks to Dr. Swapan Kumar Bala for giving us his valuable time. I also thanked Mr. Mahamud Husain and all the resource persons.

A Members’ Conference on Modernisation of Companies Act for Ease of doing Business’ was organized by ICAB on 9 June 2018 at the ICAB Auditorium where Mr. Shubhashish Bose, Secretary, Ministry of Commerce, GoB graced the occasion as the Chief Guest and Mr. Shontosh Kumar Pandit, Additional Registrar (Joint Secretary), office of Joint Stock Companies and Firms, GoB was present as Special Guests. Mr. Md. Humayun Kabir FCA, Member Council & Past President-ICAB acted as Session Chairman and Mr. Ajit Kumar Paul FCA, Additional Secretary, Financial Institutions Division, Ministry of Finance, GoB presented the Key Note Paper. The recommendations came from this conference especially on accounting & auditing standards, appointment of company’s secretary, etc., would ultimately help for establishing ease of doing environment in the country. A call has been made to act coordinately among the NBR, RJSC and ICAB to combat fraudulence in audit report for establish a better corporate culture. Mr. Shubhashish Bose, Mr. Shontosh Kumar Pandit and Mr. Ajit Kumar Paul FCA for sharing their valuable thoughts regarding the Act with members of ICAB.

ICAB Centre for Professional Excellence (ICPE) organized a three-day Workshop on ‘Master your PowerPoint Presentation’ which was closed on 9 June 2018 at ICPE training room. A total number of 35 participants took part in the programme.

I along with Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Md. Mahamud Hosain FCA, Council Member Mr. Md. Mostafa Kamal FCA, Secretary Maj Gen Muhammad Imrul Quayes, ndc, psc (Retd.) and Resource Persons Mr. Md Anower Hossain Fakir & Mr. A. Z. M. Akhlaqur Rahman were present in the closing ceremony.

Knowledge sharing session on ‘An overview of New syllabus-2018’ was held on 2 June 2018 at ICAB Auditorium. Mr. Mohammad Anwarul Karim FCA, Partner, ARTISAN, Chartered Accountants enlightened the members & teachers about the changes of new syllabus through PowerPoint presentation. Mr. Md. Abdus Salam FCA, Past President of ICAB also spoke about the new syllabus of ICAB. I along with Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Md Mahamud Hosain FCA, Past President & Council Member Mr. Akhtar Sohel Kasem FCA, Mr. Kamrul Abedin FCA, Ms. Parveen Mahmud FCA, Council Members Mr. A F Nesaruddin FCA, Mr. Muhammad Farooq FCA,Mr. Md. Shahadat Hossain FCA and Mr.Mostafa Kamal FCA, Secretary Maj Gen Muhammad Imrul Quayes, ndc, psc (Retd), DRC Chairman Mr. Ali Akther Rezvi FCA and Member Mohammad Aminul Islam FCA were present.

CA study manuals are packed with all the tools, techniques, policy, procedures, process, formats, tables, charts, examples, solutions, formulas. The information has been given in the session to easy understand and will take the students step by step with basic information and solutions.

ICAB and Apollo Hospital Dhaka has signed a Memorandum of Understanding (MoU) on 2 June 2018 at CA Bhaban. This MoU allows access to medical facilities and services for ICAB members and employees at discounted rate.

With the presence of myself the signing ceremony took place between ICAB Secretary Major General Muhammad Imrul Quayes, ndc, psc(Retd) and Mr. Akhter Zamil Ahmed, Deputy General Manager, Apollo Hospital Dhaka. Among others, ICAB Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Mahamud Hosain FCA, Council Members, Past Presidents and distinguished members were present in the programme.

I led a delegation of ICAB who participated in SAFA events and SAFA International conference held in Sardar Patel Marg, New Delhi, India on 28-30 June 2018.

The other members of ICAB delegation were Vice Mr. President Mahmudul Hasan Khusru FCA, Council Member & Past Presidents Mr. Anwaruddin Chowdhury FCA, Mr. M Farhad Hussain FCA and Mr. Md. Humayun Kabir FCA. The SAFA International Conference was organized by the Institute of Cost Accountants of India on 29 June at the same venue with theme of Professionals of the Future: Thoughts on 2018 & Beyond, the conference featured five technical sessions, with each focused on a specific topic covering emerging business and finance issues. Representatives from SAFA member bodies, various business organizations, Indian government and numerous development agencies, as well as ICAI members attended the conference. I participated 53rd SAFA Board and 87th Assembly meeting on 29 June 2018.


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 2018:

Standing Committees:
-    3rd Meeting of the Investigation and Disciplinary Committee (IDC) was held on 02 June 2018 at 11:00 am.
-    7th Meeting of the Council was held on 02 June 2018 at 3:00 pm. (Day-1)
-    7th Meeting of the Council was held on 03 June 2018 at 3:30 pm. (Day-2)
-    4th Meeting of the Investigation and Disciplinary Committee (IDC) was held on 26 June 2018 at 6:00 pm.

Non-standing Committees:
-    2nd Meeting of the Editorial Board was held on 5 June 2018 at 2:30 pm.

Standing and Non-Standing Sub-committees:
-    2nd Meeting of the Articled Students Sub-Committee (ASC) was held on 9 June 2018 at 2:30 pm.
-    10th Member Sub-Committee Meeting of the Articled Students (ASC) was held on 10 June 2018 at 3:00 pm.

No more today. Wish you all the best for everyone.


Dewan Nurul Islam FCA
President

 

Update Date : 23/07/2018

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