President's Communication July - 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

President's Communication: May - 2018

Dear Fellow Members,
Assalamu Alaikum WRWB
Greetings to you all,

Since assuming the office of ICAB, back in January 2018, we gave sincere attention in the process of strengthening strategic relationships among ICAB, Bangladesh Bank, NBR, MRA, BSEC and other government bodies. However, the activities of the Institute are not limited to only those organizations & bodies. As a matter of fact, one of our main objectives is to arrange trainings & workshops to enhance the skills & capacities of our members pertaining to regulators’ compliance issues and officials of stakeholders. Furthermore, we strive to educate, train and equip our members more by fostering professional ethical standards. These are the features enshrined in our action plan.

In May, through various programs and events, we brought renowned think tanks, economists, and previous senior regulators of our country in our platform. In the very beginning of May, we celebrated the significance of May Day by acknowledging the movement for establishing labor rights that started in the year 1882, in Chicago. The spirit of establishing the rights of labor will surely inspire us to be united for protecting our individual and collective professional interests.

Now I would like to give you an update regarding the main activities that occurred in May 2018.

A pre-budget Roundtable Discussion on National Budget 2018-2019 was jointly organized by ICAB and the Daily Prothom Alo in ICAB Council Hall on 14 May, 2018, where Dr. Shamsul Alam, Senior Secretary & Member, General Economic Division, Bangladesh Planning Commission, was present as the Chief Guest and ICAB Council Member and Past President Mr. Md. Humayun Kabir FCA moderated the discussion session. I delivered the welcome speech in the programme. A number of prominent citizens of the country, like Ms. Rasheda K Chowdury, Executive Director, CAMPE & former caretaker government adviser, Professor Mostafizur Rahman, distinguished fellow, center for policy dialogue(CPD), Mr. Abdul Quayum, Associate Editor, Prothom Alo, Mr. Siddikur Rahman, President, BGMEA , Dr. Abdul Majid, former chairman, NBR, Mr. Syed Almas Kabir, President, Bangladesh Association of Software and Information Services, Dr. Nazneen Ahmed, Senior Research Fellow, Bangladesh Institute of Development Studies, and Ms. Syeda Rizwana Hasan, Director, Bangladesh Environment Lawyers Association participated in the discussion and exchanged their valuable thoughts regarding the national budget of 2018-19. Additionally, our distinguished council members and past presidents, Mr. Md. Humayun Kabir FCA, Mr. Md. Farhad Hussain FCA, Mr. Kamrul Abedin FCA, Ms. Parveen Mahmud FCA, and council members Mr. AF Nesaruddin FCA and Mr. Md. Shahadat Hossain FCA also participated in the programme. This event got extensive media coverage both in electronic and print media.

Moreover, The Institute of Chartered Accountants of Bangladesh (ICAB) organized a CPD seminar on ‘An Analysis on Macroeconomic Performance of Bangladesh’ in CA Bhaban on May 5, where Dr. Kamal Uddin Ahmed, Member, Planning Commission, GoB was present as the chief guest.

I delivered welcome speech and Mr. Anwaruddin Chowdhury FCA, Member Council & Past President-ICAB conducted the session as Session Chairman. Mr. Md. Shahadat Hossain FCA, Member Council-ICAB and Partner, FAMES & R, Chartered Accountants presented the Key Note paper. ICAB Vice President Mr. Mahmudul Hasan Khusru FCA delivered the concluding remarks. The paper emphasized on the nature of macroeconomic performance of the country in the recent past years and the information has been compared in some cases year to year.

ICAB has introduced Digital Identification of Audit Report (DIAR) to prevent preparing doctored audited reports and financial statements which are submitted by different business organizations and corporate bodies to evade corporate tax.

As a part of complementary role in NBR’s effort to boost revenue collection, ICAB organized a training programme on ‘Digital Identification of Audit Report (DIAR) And Audited Financial Statements’ for Officials (VAT Intelligence Cell), NBR at its Auditorium. A number of 50 High officials of VAT Intelligence Cell, NBR participated in 2-day long training started on Tuesday, 8 May 2018.

Mr. Md. Mosharraf Hossain Bhuiyan,ndc, Chairman, National Board of Revenue (NBR) inaugurated the training programme as the Chief Guest while Mr. Md. Lutfor Rahman, Member (VAT Audit and Intelligence) and Mr. A F M Abdullah Khan, Director General(DG), Directorate of Audit, Intelligence and Investigation, Value Added Tax, NBR were present as Special Guests.

I along with Mr. Md. Humayun Kabir FCA, Member Council and Past President of ICAB and Chairman of Taxation and Corporate Laws Committee (TCLC) spoke on the occasion.

A Presentation on ‘Overview and objectives of ‘DIAR’ as well as its background was made by Mostafa Kamal FCA, Member Council and Chairman of Members’ Services and Welfare Committee and HR Committee of ICAB and Executive Vice President & Group Company Secretary – LankaBangla Finance Ltd. As per ICAB’s proposal it was agreed that a joint Working Group will be formed taking representatives from ICAB, NBR and RJSC for full implementation of the DIAR project.

ICAB has been allotted a Plot for its Academic Campus at Purbachal: With delight I like to share a good news for the Institute that ICAB has been allotted a plot from RAJUK at Purbachal Residential Area for building our academic campus. It was a dream that has become true now. I along with other office bearers and Secretary-ICAB congratulated the Chairman of Rajuk Mr. Abdur Rahman on 17 May 2018 and thanked him for allotting a plot for ICAB.

ICAB Secretariat at 6th floor of CA Bhaban was inaugurated by Mr. M J Abedin FCA, Chairman of Advisory Board, Past President-ICAB and Senior Partner, M J Abedin & Co., on 15 May 2018. Vice Presidents, Council Members & Past Presidents were present.

Doa Mahfil in remembrance of late A K Chowdhury FCA and other deceased Members was arranged on 26 May 2018 at CA Bhaban, ICAB Auditorium to seek blessing of Almighty Allah and salvation of departed souls of late A K Chowdhury FCA (Enrolment No. 52) and other deceased Members of ICAB who left us forever.

Before starting Doa Mahfil I and other Vice Presidents, Council Members, Past Presidents and distinguished Members recalled the contribution of Mr. AK Chowdhury to the Nation and the Institute since its inception in 1973.

The relatives, colleagues, friends and well-wishers of deceased members, and employees of the Institute 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 May 2018:
Standing Committees:
-    1st Meeting of the Quality Assurance Board (QAB) was held on 10 May 2018 at 5:30 pm.
-    6th Meeting of the Council was held on 15 May 2018 at 5:30 pm.
-    2nd Executive Committee (EC) Meeting was held on 16 May 2018 at 3:00 pm.
-    2nd Meeting of the Technical & Research Committee (TRC) was held on 19 May 2018 at 2:00 pm.
-    2nd Meeting of the Investigation & Disciplinary Committee (IDC) was held on 19 May 2018 at 3:00 pm.
-    2nd Meeting of the Articled Students Committee (ASC) was held on 21 May 2018 at 2:30 pm.
-    2nd Meeting of the Board of Studies (BoS) was held on 30 May 2018 at 3:00 pm.
Non-standing Committees:
-    3rd Meeting of the Information & Communication Technology Committee (ICTC) was held on 22 May 2018 at 3:00 pm.
-    2nd Meeting of the Media & Branding Committee was held on 31 May 2018 at 3:00 pm.
Standing and Non-Standing Sub-committees:
-    2nd Meeting of the 7-Member IT Syllabus Sub-Committee Meeting of the Board of Studies (BoS) was held on 20 May 2018 at 3:00 pm.
-    3rd Meeting of the 7-Member IT Syllabus Sub-Committee Meeting of the Board of Studies (BoS) was held on 27 May 2018 at 3:00 pm.
No more today. Wish you all the best for everyone.


Dewan Nurul Islam FCA
President

 

Update Date : 03/07/2018

President's Communication: April - 2018

Dear Fellow Members,
Assalamu Alaikum and greetings to you all.
Bangla New Year that comes in April is always an occasion to celebrate our glorious traditions, culture & heritage on 14 April. The whole Nation celebrated Pohela Boishakh in deep fervor & festivity according to Bengali custom & tradition. It is not merely a celebration and is regarded to have renewed commitment to promote our own culture & heritage also.

I exchanged warm greetings with all the members and the employees of ICAB on this very day. Celebration of Pohela Boishakh rejuvenated us to deploy our best efforts to promote the image of the Chartered Accountancy profession. We firmly believe that our efforts are paying off results that would leave a remarkable trace of progress of the Institute.

Now, I am updating you about our activities in the month of April 2018.

Members’ Conference on ‘Code of Corporate Governance (CCG)’ was held on 24 April at ICAB auditorium where Dr. Swapan Kumar Bala FCMA, Commissioner, Bangladesh Securities and Exchange Commission (BSEC) was present as the chief guest. At the onset, I delivered the welcome speech. Member Council & Past President Mr. Md. Humayun Kabir FCA conducted the conference as Session Chairman while fellow member Mr. Snehasish Barua FCA, Partner, Snehasish Mahmud & Co., Chartered Accountants presented the keynote paper. ICAB organized the conference to seek the opinions from the members of the Institute regarding the draft CCG, which was later submitted to BSEC.

Another Members’ Conference on ‘Knowledge Management: A Strategic and Dynamic Tool for Success’ was held on 5 April 2018 at the ICAB Auditorium where Prof. Md. Helal Uddin Nizami, Commissioner, Bangladesh Securities and Exchange Commission (BSEC) was present as the chief guest. Here also Council Member & Past President Mr. Md Humayun Kabir FCA moderated the session. I delivered the welcome speech and Vice President Mr. Mahmudul Hasan Khusru FCA delivered vote of thanks. Dr. Md. Salim Uddin FCA, FCMA, Professor, Department of Accounting, University of Chittagong presented the keynote paper.

Like other reputed public universities, ICAB also held a career-counselling seminar at North South University, country’s premier private university on 23 April 2018. The seminar was graced by the Dean, School of Business & Economics Faculty, NSU Professor Mr. Md. Mahbubur Rahman and Chairman of department of Accounting & Finance Associate Professor Dr. Mohammad Riaz Uddin. I delivered motivational speech there to encourage the students for studying CA. Our Vice President Mr. Mahmudul Hasan Khusru FCA also gave motivational speech. Students from different departments of School of Business & Economics Faculty attended the seminar. ICAB associate member Mr. Shah Md Mohin Uddin made a presentation on how to pursue CA. An Audio Visual on ICAB was also shown. At the end, Chairman, Dhaka Regional Committee-ICAB Mr. Md. Ali Akther Rezvi FCA and member Mr. Muhammad Aminul Hoque FCA conducted a quiz competition with the participation of the students.

Two-day long Workshop on Advanced Excel and Financial Modeling was started on 20 April 2018 at ICPE training room where a total number of 40 members participated in. Mr. Md Anower Hossain Fakir, A. Z. M. Akhlaqur Rahman and Mr. Placid Gomes ACA were the resource persons.

Mr. Golam Hafiz Ahmed, Executive Director, Islami Bank Foundation attended the concluding session as the Chief Guest on 21 April 2018. Thanks to Mr. Ahmed for giving us his precious time.

Also Vice Presidents Mr. Mahmudul Hasan Khusru FCA and Mr. Md. Mahamud Hosain FCA, Member Council Mr. Mostofa Kamal FCA and Major General Muhammad Imrul Quayes ndc, psc (Retd), Secretary ICAB were present in the closing ceremony.

Another Workshop on Recurring Audit Dots was held on 7 April 2018 at ICAB Auditorium with participation of 120 members of the Institute. ICAB Vice President Mr.Mahmudul Hasan Khusru FCA and Mr. Md. Mahamud Hosain FCA and Major General Muhammad Imrul Quayesndc, psc(retd), Secretary- ICAB graced the concluding session in the evening. A penal of moderators conducted the different sessions.

Another meeting with Mr. Abu Hena Mohammad Razee Hasan, Deputy Governor, Bangladesh Bank was held on 15 April 2018 to discuss about various professional matters including BRPD Circular. I myself along with Secretary-ICAB and Director (Technical) Mr. Mahbub Ahmed Siddique FCA participated in the meeting.

On 9 April 2018, I along with Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Mahamud Hosain FCA, Past President and Council Members Mr. A S M Nayeem FCA, Mr. Md. Humayun Kabir FCA and Secretary-ICAB paid a courtesy call on Mr. AHM Mustafa Kamal FCA, Hon’ble Planning Minister, Government of Bangladesh who is also a Fellow Member of the Institute. We discussed bi-lateral issues including professional matters. My special thanks to Planning Minister for giving his valuable time.

Discussion meeting with CFO and Head of Finance in Banking Institutions was held on 17 April at ICAB Council Hall. The meeting discussed about BRPD Circular issued by Bangladesh Bank. I and most of the Council Members of the Institute were present in the meeting.

Meeting with Business Editors: I along with Vice President Mahmudul Hasan Khusru FCA attended two separate meetings with Mr. Sujoy Mohajan, Business Editor, Prothom Alo on 24 April and Mr. Raihan M Chowdhury, Senior News Consultant, The Financial Express on 26 April. We exchanged views on professional aspects and news coverage of ICAB events.

Council Member Mr. Md. Shahadat Hossain FCA and Director Technical Mr. Mahbub Ahmed Sidique FCA participated in a meeting held at Ministry of Commerce, GoB on 4 April 2018 at Bangladesh Secretariat to present ICAB’s views on the proposed Companies Act 2017.

Earlier, a series of meetings were held at the ministry with a view to formulating a pragmatic Act which could help to flourish business of the country.

I as the President of the Institute conveyed greetings to all Members of the Institute on the eve of Pohela Boishakh 1425 and had sent a token of gifts to the distinguished Members, the Past Presidents and the Council Members of this Institute. On the day Dhaka Regional Committee (DRC)-ICAB also organized a colorful programme to celebrate Pohela Boishakh at the auditorium. Besides, I myself and Secretary –ICAB celebrated Bangla New Year with all Employees of ICAB on 15 April.

A Day with Channel-i Young Leaders: On a field trip a group of Young Cheerful Leaders of the Channel-i Young Leaders programme visited ICAB to share views with the Office Bearers and executives of the Institute on 24 April 2018. Fifteen potential youths participated in this view exchange meeting. I myself, Vice Presidents Mr. Mahamudul Hasan Khusru FCA, Mr. Mahamud Hosain FCA, Past President and Council Member Mr. Muhammed Farhad Hussain FCA, Secretary Maj Gen Muhammad Imrul Quayes, ndc, psc (Retd.) participated in the meeting.

Adieu to AK Chowdhury: We are heart broken and deeply saddened by the demise of our beloved and veteran Chartered Accountant Mr. Abul Khair Chowdhury FCA (Enrolment No. 52), a valiant Freedom Fighter & Adviser to the Interim Mujib Nagar Government in 1971, Founder Council Member & Past President of ICAB and Managing Partner of HodaVasi Chowdhury & Co. who breathed his last on 12 May 2018 at Apollo Hospital, Dhaka (Innalillahe .... Rajeun). We lost our veteran and beloved chartered accountant which is irreparable loss to the Institute.

On behalf of the Council and on my behalf a condolence letter was sent to the bereaved family of Mr. Chowdhury. We pray, May Allah grant him 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 April 2018:
Standing Committees:
-    1st Meeting of the Board of Studies (BoS) was held on 02 April 2018 at 5:30 pm.
-    4th Council Meeting was held on 4th April 2018 at 5:00 p.m.
-    1st Meeting of the Executive Committee (EC) was held on 09 April 2018 at 6:00 pm.
-    1st Meeting of the Investigation & Disciplinary Committee (IDC) was held on 10 April 2018 at 6:00 pm.
-    1st Meeting of the Committee for Amendment of CA Order & Bye-laws was held on 16 April 2018 at 5:30 pm.
-    5th Council Meeting was held on 17 April 2018 at 5:00 pm.
Non-standing Committees:
-    2nd Meeting of the Information & Communication Technology Committee (ICTC) was held on 1st April 2018 at 6:00 pm.
-    1st Meeting of the Continuing Profession Development Committee (CPDC) was held on 08 April 2018 at 5:30 pm.
-    1st Meeting of the Human Resource (HR) Committee was held on 09 April 2018 at 6:30 pm.
-    1st Meeting of the Committee for Small and Medium Practitioners (SMP) was held on 12 April 2018 at 6:00 pm.
-    3rd Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 12 April 2018 at 6:00 pm.
-    1st Meeting of the Members Services & Welfare Committee (MSWC) was held on 15 April 2018 at 6:30 pm.
-    4th Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 25 April 2018 at 6:00 pm.
Standing and Non-Standing Sub-committees:
-    1st Meeting of 3-Member Sub- Committee of Taxation and Corporate Laws Committee (TCLC) was held on 2 April 2018 at 6:00 pm.
-    1st Meeting of 7-Member Sub Committee of Articled Students Committee (ASC) was held on 7 April 2018 at 6:30 pm.
-    7-Member Sub-committee of Board of Studies (BoS) was held on 10 April 2018 at 6:00 pm.
-    2nd Meeting of ERP Project Steering Committee was held on 26 April 2018 at 6:00 pm.
-    1st Meeting of the 5-Member Sub-Committee of Technical & Research Committee (TRC) was held on 24 April 2018 at 6:00 pm.
No more today. Wish you all the best for everyone.


Dewan Nurul Islam FCA
President

 

Update Date : 21/05/2018

President's Communication: March - 2018

Assalamu Alaikum and greetings to you all.
Dear members,
The historic month of ‘March’ reminds us the enormous sacrifice and heroism of our people against an organised army. The massacre that began on 25 March 1971 prompted us to take up arms to drive away the enemy forever. Since then the whole Nation observes 26 March as the National Independence Day with due solemnity, forever and festivity. This is also a month which inspires us to uphold the value of democracy, rule of law and stand against all odds.

Dear fellow members, we are persistently working to address the challenges of the CA Profession. Alongside, we have also expedited our endeavors to materialise our action plan. We are also trying to hunt talents for our beloved CA profession.

As the proverb goes, ‘United we Stand’, we firmly believe that our collective efforts would lead the Institute to a greater heights. Dear fellow members, our main responsibility is to keep you updated with the contemporary issues of professional interests. Keeping that in mind, ICPE regularly organizes training sessions and workshops on concurrent professional issues. We are confident that our respected members would be immensely benefited from such trainings.

Efforts are also being made to maintain  strong ties with other professional Institutes, ministries of the Government and all other stakeholders. We resolved that the liaison of ICAB with the government organizations and other regulatory bodies has to be significantly strengthened to secure mutual benefit.

The activities of the Month of March 2018 are highlighted as follows:
The two-day long ‘Auditors Training on Financial Audit, Performance Assessment and Fiduciary & Safeguards Compliance Assessment of Union Parishads’ Fiscal Year 2016-17’ for the Audit Firms, Reviewer Firms and District Facilitators started on 27 March 2018 at CA Bhaban. The training was organized jointly by the Institute of Chartered Accountants of Bangladesh (ICAB) and Local Governance Support Project (LGSP)-3, Local Government Division, GoB. A total of 500 auditors participated in the training.

Dr. Zafar Ahmed Khan, Senior Secretary, Local Government Division, LGRD & Cooperatives Ministry, GoB was present as the Chief Guest while I, myself along with Mr. Muhammad Emdad Ullah FCA, Joint Secretary, LGD and Mr.AKM Rahmat Ullah FCA, Senior Audit Specialist, LGSP-3 were present as Special Guests. Mr.Sardar Sarafat Ali, Project Director, LGSP-3 chaired the inaugural session of this training. The Local Governance Support Project (LGSP) is the centre piece of a broader programme to strengthen accountability of local governance all over Bangladesh.

On the following day a coordination meeting between ICAB, LGSP-3 and the Auditors of that project was held on 28 March 2018 at CA Bhaban to discuss on various issues including problems likely to be faced during conducting audit of Union Parishads. I myself, Vice President Mr. Mahamud Hosain FCA, Secretary Major General (Retd) Muhammad Imrul Quayes, ndc, psc, Fellow Member Mr. Eftekhar Hossain FCA , Mr. Ajit Kumar Paul FCA, Mr. Atiar Rahman FCA, Mr. Atikur Rahman FCA ,ICAB Deputy Director Mr. Afsar Uddin FCA, LGSP-3 Sr. Audit Specialist Mr. AKM Rahmat Ullah FCA, and the representatives from CA Firms who are awarded LGSP audit works also participated in the meeting.  

The newly qualified Chartered Accountants were given a special reception at a programme titled ‘Dream Career: Day with the Leaders’ organized by ICAB on 3 March 2018 at CA Bhaban where Mr.Akhter Matin Chaudhury FCA, Chairman & Managing Director, Nuvista Pharma Ltd made valuable speeches as chief guest. I myself along with Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Mostafa Kamal FCA and Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd) shared our own success stories with them.

CEO of Grow N Excel Mr. Zulfiquar Hussain delivered speech on Career Counseling session while Head of Strategic, Project AAMRA Networks Ltd Mr. Muhammad Solaiman delivered the inspirational session for newly qualified CAs.Thanks to Mr. Zulfiquar Hussain and Mr. Muhammad Solaiman for giving us their time and sharing their valuable insights.

ICAB organized a seminar on Specialised Authorised Training Organisation (SATO) on 2 March 2018 to disseminate the procedural requirements for the SATO. Executive Chairman of Bangladesh Investment Development Authority Mr.Kazi M Aminul Islam was present in the programme as the Chief Guest and Board Director of Bangladesh Bank Mr. AKM Aftab Ul Islam FCA was present as special guest. Officers from different Ministries, Office of Comptroller and Auditor General (OC&AG), Office of the Controller General of Accounts (OCGA), National Board of Revenue (NBR), Bangladesh Investment Development Authority (BIDA), Bangladesh Bank, Bangladesh Securities and Exchange Commission (BSEC) and Faculties from different universities participated in the seminar.

However, following the growing concern over SATO, the initiative to introduce SATO was rescinded. Further I would like to assure all that no initiative which has the potentiality to harm CA profession will be undertaken.

A delegation of ICAB led by me met Mr. Masud Ahmed, Comptroller and Auditor General at latter’s office on 21 March 2018. We discussed about professional progress and the steps those have been undertaken by the Institute for the development of accountancy profession in the country. We also expressed willingness to work jointly with C&AG office for overcoming the shortcomings in both public sector accountancy profession. The other members of the delegation were Vice Presidents Mr.Mahmudul Hasan Khusru FCA, Mr.Mahamud Hosain FCA and Major General Muhammad Imrul Quayes, ndc, psc (Retd).
I, along with Vice President Mr. Mahmudul Hasan Khusru FCA, Council Members & Past Presidents Mr. Muhammed Farhad Hussain FCA, Mr. Md. Humayun Kabir FCA, Ms. Parveen Mahmud FCA, Mr. Adeeb Hossain Khan FCA and Secretary, Major General Muhammad Imrul Quayes, ndc, psc (Retd) met Mr. Muhammad Muslim Chowdhury, Secretary in Charge, Finance Division, Ministry of Finance, GoB at Bangladesh Secretariat on 5 March 2018. We made him conversant with ICAB’s ongoing activities.

Another team led by me met LGSP-III Project Director Mr. Sardar Sarafat Ali on 20 March 2018 at LGSP office. We discussed upcoming inauguration programme of LGSP-3 project to be held on 27 March where Dr. Zafar Ahmed Khan, Senior Secretary, Local Government Division, LGRD & Cooperatives Ministry, GoB will be present as the Chief Guest. The meeting discussed the modalities of imparting trainings for about 200 pupils intended to be the auditors of Union Parishads. We discussed the various difficulties that might be faced during the audit. The other members of ICAB team were Vice President Mr. Mahmudul Hasan Khusru FCA, Secretary Major General (Retd) Muhammad Imrul Quayes, ndc, psc and LGSP-3 Sr. Audit Specialist Mr. AKM Rahmat Ullah FCA.

Advisory Committee Meeting of the Council was held at Bangabandhu International Conference Center(BICC) on 27 March 2018.  I gave a short presentation about the activities of  ICAB  and the Strategic Plan 2018. I also sought guidelines and advices from the Council and the Past Presidents regarding further advancement of the Institute.

A team of ICAB participated in a meeting invited by the Ministry of Commerce, GoB on 15 March 2018 at Bangladesh Secretariat to discuss and review the proposed Companies Act 2017. The other members of the team were ICAB Vice President Mr. Mahmudul Hasan Khusru FCA, Council Members Mr. Shahadat Hossain FCA, Mr. Mostafa Kamal FCA, Senior Fellow Member Mr. Ajit Kumar Paul FCA and Director (Technical) Mr. Mahbub Ahmed Siddique FCA. Earlier a series of meetings were held at the ministry with a view to formulating a pragmatic Act which could help to flourish the business of the country. ICAB proactively participated all the meetings  to bring better standing and image of the profession.

Mr. Justin West, Acting Director, Students Recruitment, ICAEW visited ICAB on 18 March 2018 and discussed issues of bi-lateral interest. Mr. Justin West gave a brief overview of the new ICAEW computer input exams in advanced level. He gave a brief demonstration of the ICAEW training on False Assurance. The meeting discussed the possibility of displaying the whole video to a wider audience at ICAB. ICAB Vice President Mr. Mahmudul Hasan Khusru FCA and Major General Muhammad Imrul Quayes, ndc, psc (Retd) participated in the meeting.

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 2018:
Standing Committees:
-    3rd Meeting of the Council was held on 14 March 2018 at 5:00 pm.
-    1st Meeting of the Articled Students Committee (ASC) was held on 21 March 2018 at 6:00 pm.
-    1st Meeting of the Quality Assurance Board (QAB) was held on 22 March 2018 at 5:30 pm.
-    1st Meeting of the Technical & Research Committee (TRC) was held on 28 March 2018 at 6:30 pm.
Non-standing Committees:
-    2nd Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 06 March 2018 at 5:30 pm.
-    1st Meeting of the Information & Communication Technology Committee (ICTC) was held on 11 March 2018 at 5:30 pm.
-    1st Meeting of the Editorial Board (EB) was held on 21 March 2018 at 6:00 pm.
-    1st Meeting of the Professional Development Committee (PDC) was held on 25 March 2018 at 5:30 pm.
-    1st Meeting of the Advisory Committee was held on 27 March 2018 at 6:00 pm.
-    1st Meeting of the Real Estate Committee (REC) was held on 29 March 2018 at 6:30 pm.
Standing and Non-Standing Sub-committees:
-    2nd Meeting of the Taxation and Corporate Laws Committee (TCLC) 7-Member Sub-Committee was held on 03 March 2018 at 6:00 pm.
-    1st Meeting of the ERP Project Steering under the Information & Communication Technology Committee (ICTC) Sub-Committee was held on 22 March 2018 at 6:00 pm
-    1st Meeting of the Media & Branding Committee was held on 29 March 2018 at 6:00 pm.
No more today. Wish you all the best for everyone.


Dewan Nurul Islam FCA
President

 

Update Date : 17/04/2018

President's Communication: February - 2018

Asalamu Alaikum and greetings to you all.

Dear members,
The month of February comes with passion, which was ignited way back in 21 February 1952 for the establishment of ‘Bangla’ as State language through sacrifice of lives. Later, the spirit of language movement turned into movement for Independence of Bangladesh in 1971. So, the 21st February has a great significance and it is the epoch-making day in our history. The Institute has gone throughout the month with a series of events including courtesy calls by ICAB delegations on FRC Chairman, Chairman of BIDA, Chairman of BSEC and Governor of Bangladesh Bank, the Ministers in different portfolios and as usual a number of training programmes, seminars and workshops. As we are aware of new draft on ‘Companies Act 2016’, my Council colleagues are relentlessly working on the draft to make the law more effective in our country’s perspective. They are also recurrently attending the meetings, summoned by the Ministry of Commerce. No doubt, we are putting our best efforts in this regard to uphold common interest of the people. We are committed to harness every opportunity for the development of our beloved profession.


Dear members of this fraternity, you have already been informed about the formation of standing & non-standing committees of ICAB. I urged upon all the Chairmen and Members of these committees to extend mutual support and cooperation for smooth functioning of these committees. We are proud that you have greater responsibilities to lead the Institute into new height of excellence. We hope your attachment would benefit the Institute.


Let me update you about some major activities of the Institute that took place in the month of February 2018.


Members’ Conference on Corporate Transparency and Sustainability Reporting was organized on 26 February 2018 at ICAB Auditorium. The topic was very pertinent as we live in a world of multiple dimensions, where a variety of resources and relationships contribute to understanding the full story of an organization’s impacts and value creation. Mere appreciation of the connectivity between these resources and relationships would not unearth the full picture. That’s why corporate reporting is essential which is seen through a broader lens that brings into focus sustainability information together with other considerations.


To understand the greater aspect of corporate reporting and sustainability, ICAB organized this conference where Dr. Aditi Haldar, Director and Ms. Rubina Sen, Senior Coordinator, Global Reporting Initiative (GRI), South Asia jointly presented the Technical Paper titled ‘Corporate Transparency and Sustainability Reporting’. I delivered the welcome address while Mr. Anwaruddin Chowdhury FCA, Member Council & Past President-ICAB moderated the session. Ms. Parveen Mahmud FCA, Member Council & Past President-ICAB conducted the session as Session Chairman. My special thanks to the learned paper presenters, the moderator, the session chairman for their finest efforts for making the event a success.


A courtesy call on Mr. Fazle Kabir, Governor, Bangladesh Bank was made by ICAB team led by me at his office on 4 February 2018.The other members of the delegation were Vice President Mr. Md. Mahamud Hosain FCA, Members Council & Past Presidents Mr. ASM Nayeem FCA, Mr. Muhammed Farhad Hussain FCA, and ICAB Secretary Major General Mr. Muhammad Imrul Quayes ndc, psc (Retd). The meeting discussed about some professional issues like formation of a joint working group, mutual workshops and training, arrangement of Bangladesh Bank involvements in ICAB’s disciplinary action process, etc.


Meeting with Mr. Shubhashish Bose, Secretary, Ministry of Commerce, GoB was held at his office on 19 February 2018 where I led the ICAB team comprising Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Md. Mahamud Hosain FCA, Mr. AKM Kamrul Islam FCA, Partner, Islam Aftab Kamrul & Co., Chartered Accountants, Mr. Ajit Kumar Paul FCA, Additional Secretary, GoB and ICAB Secretary Maj Gen Mr. Muhammad Imrul Quayes ndc, psc (Retd). In the meeting, we primarily discussed the ongoing activities of ICAB and current professional issues.


Two separate meetings with FRC Chairman Mr. CQK Mustaq Ahmed, Chairman, Financial Reporting Council (FRC) were held at his office on 4 &15 February 2018to discuss mutual professional issues including recruitment process of high officials of FRC, structural development of FRC and its functions.


I along with ICAB Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Md. Mahamud Hosain FCA, Secretary Maj Gen Mr. Muhammad Imrul Quayes ndc, psc (Retd) and Director-Technical Mr. Mahbub Ahmed Siddique FCA attended the meetings.


A meeting with Mr. Kazi M Aminul Islam, Executive Chairman, Bangladesh Investment Development Authority (BIDA) was held at his office on 20 February 2018. I led the 3-member ICAB team where Vice President Mr. Mahmudul Hasan Khusru FCA, and Secretary Maj Gen Mr. Muhammad Imrul Quayes ndc, psc (Retd) were two other members. We discussed about mutual professional issues including the initiatives regarding ease of doing business undertaken by ICAB and upcoming joint events, etc.


Programmes on Language Movement like art competition and poetry recitation for children, and a discussion meeting were organized by Dhaka Regional Committee (DRC)-ICAB to observe the Omar Ekushey and the International Mother Language Day on 21 February 2018.


Chairman of DRC Mr. Md. Ali Akhter Rizvi FCA chaired the programme while I along with Mr. Md. Mahamud Hosain FCA, Council Members, grand-daughter of Dr. Mohammad Shahidullah, Writer Ms. Shanta Maria, DRC members and ICAB fellow members was present.


The speakers recalled the turbulent time of language movement in 1952 and urged upon all to build the nation with the spirit of the movement, which led the nation into independence in 1971 through liberation war.


A workshop on 'IFRS 15: Revenue from Contracts with Customers' was held on 3 February 2018 at the ICPE training room. The workshop was attended by 40 participants where ICAB Vice President Mr. Mahamud Hosain FCA, and Mr. Ashraf-Uz-Zaman Ali FCA were the Resource Persons.


Mr. Kazi Sanaul Hoq, Managing Director, Investment Corporation of Bangladesh (ICB) gave away the certificates to the participants as the Chief Guest. I along with Vice President Mr. Mahmudul Hasan Khusru FCA, Past President Mr. Md. Humayun Kabir FCA, Council Members Mr. Md. Shahadat Hossain FCA and Mr. Mostafa Kamal FCA also attended the programme.


Another workshop on the same topic was organised for the officials of Bangladesh Securities and Exchange Commission (BSEC) on 3 February 2018 in the evening at the same venue. Mr. Akhter Matin Chaudhury FCA, Chairman & Managing Director, Nuvista Pharma Limited awarded the certificates to the participants as the Chief Guest. Ms. Ruksana Chowdhury, Executive Director of BSEC was present as the Special Guest. ICAB Vice President Mr. Mahamud Hosain FCA and Mr. Muhammad Mehedi Hasan FCA were the Resource Persons in the workshop. I along with Vice President Mr. Mahmudul Hasan Khusru FCA, Mr. Md. Shahadat Hossain FCA, Mr. Mostafa Kamal FCA, ICAB Secretary Maj Gen Mr. Muhammad Imrul Quayes (retd.) was also present in the workshop.


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 2018:
 

Standing Committees:

-    1st Meeting of the Examination Committee was held on 22 February 2018 at 1:30 pm.
-    2ndMeeting of the Council was held on 22 February 2018 at 2:30 pm.

 

Non-standing Committees:

-    1st Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 25 February 2018 at 5:30 pm.

 

Standing and Non-standing Sub-committees:

-    1st Meeting of the Taxation and Corporate Laws Committee (TCLC) 7 Member Sub-Committee was held on 28 February 2018 at 6:00 pm.


With best wishes to you all.


Dewan Nurul Islam FCA
President-ICAB

 

Update Date : 15/03/2018

President's Communication: January - 2018

Asalamu Alaikum and greetings to you all.

Dear members,
At the beginning of my great journey, I like to convey my thanks to you all for electing me in the Council for two consecutive terms and as the President of the Institute of Chartered Accountants of Bangladesh (ICAB) for the year 2018. I sincerely express my gratitude to my Council colleagues who have given me the opportunity to serve and lead the Institute.


I would like to thank my teammates Mr. Moddassar Ahmed Siddique FCA, Mr. Mahmudul Hasan Khusru FCA and Mr. Mahamud Hosain FCA who took office as the Vice-Presidents of the Institute. I believe your knowledge, experience, professional acumen and abilities would immensely benefit the members, enrich the wisdom and lead the Institute to a new height of excellence.


In last decade undoubtedly, the Institute has made tremendous advancement by the visionary initiatives and hard works of our Past Presidents and Councilors. Our heartfelt thanks & gratitude are owed to our Visionary Leaders.


At the beginning of the year, hope we shall be able to prepare a Strategic Plan by evaluating our strengths, weaknesses and opportunities encompassing the threats we are now facing. As soon as assuming the helm of office, new draft of Companies Act 2016 has come forth. We are working on to make it more pragmatic one.


I would like to update you on some major activities accomplished and the initiatives undertaken during the Month of January 2018.


As part of initiatives to bring brilliant Students into CA profession, a seminar on ‘Building Awareness about Chartered Accountancy’ was held at the seminar room of Accounting Department in Bogra Azizul Haque College on 15 January 2018. ICAB Member Council Mr. Md. Shahadat Hossain FCA and Fellow Member Mr. Md. AKH Hasif Swadagor FCA, Manager, Standard Chartered Bank participated in the seminar while Mr. Md. Kamruzzaman ACA, Sr. Manager and Mr. MA Wahab Akanda ACA, Assistant Manager, Rahman Rahman Huq, were the main discussants. They gave motivational speech. My special thanks to the participants who gave their time and efforts to make the programme successful.


A series of Meetings Re Companies Act-2016: A team of ICAB participated in a series of meetings regarding draft of Companies Act-2016 at the office of Ministry of Commerce, Bangladesh Secretariat. On 22 January 2018 I, along with my council colleagues Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Mahamud Hosain FCA, Mr. Mustafa Kamal FCA, and Director (Technical) Mr. Mahbub Ahmed Siddique FCA participated in a meeting which was presided over by Mr.Shubhashish Bose, Secretary, Ministry of Commerce. Representatives of different Chamber bodies, Stakeholders and Regulatory bodies also participated in the meeting. We discussed various sections of the Act with a view to make the Act more effective.


Chaired by the Commerce Secretary, two more meetings were held at the same venue on 24 and 31 January 2018 to discuss about the updates draft of the said Act. ICAB Vice Presidents Mr. Mahmudul Hasan Khusru FCA, Mr. Mahamud Hosain FCA, Council Member Mr. Md. Shahadat Hossain FCA, Mr. Mostafa Kamal, Director (Technical) Mahbub Ahmed Siddique FCA participated in the meetings. We are putting time & efforts to make the Act more pertinent in our country perspective.


Meeting on New Trade Organization Law: In turn a team of ICAB participated in a meeting regarding New Trade Organization Law at the office of Ministry of Commerce, Bangladesh Secretariat on 29 January 2018. ICAB Director (Technical) Mr. Mahbub Ahmed Siddique FCA and Senior Deputy Director (Professional Conduct) Mr. Md. Saiful Islam FCA participated in the meeting which was presided over by Mr. Shubhashish Bose, Secretary, Ministry of Commerce. The Representatives of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) also participated in the meeting. They discussed on various aspects of the New Trade Organization Law.


Workshop: Recurrently the workshops on professional issues and the technical issues which CAs are facing have been organized by ICPE. The workshop on ‘Supply Chain Management for Finance Professionals’ was organized on 20 January 2018 at CA Bhaban.


As the Chief Guest Mr. Mohammad Shams-Ul Islam, Managing Director & CEO, Agrani Bank Limited awarded the certificates to the participants. Mr. Naquib Khan President, Bangladesh Supply Chain Management Society was the Resource Person in the workshop. ICAB Vice President Mr. Mahmudul Hasan Khusru FCA also spoke on the occasion. Secretary, ICAB Maj Gen Mr. Muhammad Imrul Quayes (retd.) and Council Member Mr. Mostafa Kamal FCA were also present in the programme. It is indeed a workshop which got tremendous response from the members and they were benefited from it.


CA education is epitome of international standards. ICAB introduces new academic curriculum in line with ICAEW syllabus. The Council ICAB has introduced the new curriculum with effect from November-December 2018 ICAB examinations in line with ICAEW syllabus with some modifications in existing syllabus. All Chartered Accountancy Firms and the Principals are requested to notify the Articled Students about the New Curriculum.


Meeting with RAJUK: ICAB has been paying effort to have its permanent campus in the city. With this view, a team of ICAB led by me held a meeting with Mr. Md. Abdur Rahman, Chairman, Rajdhani Unnayan Katripakkha (RAJUK) on 23 January 2018 at its office. The other members of ICAB team were, Council Member Mr.Mostafa Kamal FCA, Fellow Member Mr. Md. Harun-or-Rashid FCA and Secretary Major General Mr.Muhammad Imrul Quayes (Retd). It was a follow-up meeting. We discussed about the land for which ICAB applied in Purbachal New City and Uttara 3 phase. The chairman assured his cooperation in this regard.


ICAB delegation participated in SAFA events in Nepal: ICAB is pro active in maintain liaison with other profession bodies across the world. A delegation of the Institute of Chartered Accountants of Bangladesh (ICAB) participated in SAFA Board meeting, Committee meetings and SAFA Best Presented Annual Report Awards and CFO Conference held on January 30 to February 1, 2018 at Kathmandu, Nepal. All the events were hosted by the Institute of Chartered Accountants of Nepal (ICAN).


The most important event was the SAFA International CFO conference which was being organized for the first time in Nepal, attended by over 150 foreign delegates and over 300 national delegates including CFOs, Managers, Consultants, Professionals, etc. The technical papers were presented by experts, international resource persons representing the SAFA member bodies, concentrated on the theme of the Conference “Evolving Economic Environment – Challenges and Way Forward”.


In the Technical Session 3: Role of CFOs in Technological Transformation, I was one of the Panelists and read a paper. I wanted to share my views on how technology changes the role of CFOs. Also I focused on the need to update ourselves with the change; the technological transformation.


In the seminar I described the role of the CFO which is rapidly changing through evolving significantly from traditionally being viewed as a financial guard to a strategic partner and advisor to the organization. To succeed from here on, my suggestion is that CFOs need to shift their focus towards analytics, people management, disruptive technology, and several other crucial and newly forming variables. I described the use of new technologies to drive significant business improvements.


SAFA immediate past president Mr. ASM Nayeem FCA, ICAB Past President & Council Member, moderated the Technical Session-3. It was most vibrant session which attracted the large number audience.


The SAFA BPA Award & SAARC Anniversary Award : This was a gala event of SAFA in Nepal. Overwhelmed that Bangladesh had completely dominated the Awards bagged 21 wining awards, as in several occasions in recent years. Over the years, ICAB has exerted relentless efforts and enthused significant inspiration to our financial and corporate sectors, the NGOs and public sector entities, and later for CG Disclosure and now fast tracking into International Reporting- that we have now achieved the coveted trophies as the SAARC champion. Heartiest Congratulations and Accolades to Financial Institutions and Corporate Entities in Bangladesh who achieved the Honours.


Dewan Nurul Islam FCA
President-ICAB

 

Update Date : 25/02/2018

President's Message

Asalamu Alaikum and greetings to you all.

Dear fellow members, thank you all for electing me in the Council - ICAB for two consecutive terms and as the President of the Institute of Chartered Accountants of Bangladesh (ICAB) for the year 2018. I convey my specially gratitude to my Council colleagues who have given me the opportunity to serve and lead the Institute as the top Executive. To carry out my responsibilities I sought all out cooperation from the Council and urged all the members to work for building image of our beloved CA profession. I also urged ICAB personnel to be instrumental for all the activities that ICAB will take in the year 2018.

 

Best Wishes


Dewan Nurul Islam FCA
President-ICAB

 

Update Date : 29/01/2018

President's Communication: December - 2017

Asalamu Alaikum and greetings to you all.

Dear fellow members, this is my last communication, as I have reached the end of my presidency. 2018 Office Bearers are already in place, headed by Mr. Dewan Nurul Islam FCA. My heartiest congratulations to them all. I have every confidence that this team will take ICAB to even greater heights.


My closing message to you is to express my gratitude for giving me the opportunity to serve you. Over the year, your suggestions have given me guidance, your criticism has helped me correct my path and your praise has given me confidence.


I am fortunate that I had the wholehearted, constant and enthusiastic support of three very capable Vice Presidents. Of course none of our initiatives would have seen the light of day had it not been for your Council, made up of such progressive, sound and hardworking members who have the interest of our profession at the core of their heart. No matter how innovative or hardworking the Councillors were, without the executive team behind us, no initiative would come to fruition and in fact, ICAB would come to a standstill. We have a wonderful group of most dedicated men and women those daily toil for ICAB is felt by all of us, but perhaps seen by none. My heartfelt thanks to this group.

 

 

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 December 2017:

 

 

 

Standing Committees:

-    7th Meeting of the Council was held on 3 December 2017 at 4:00 pm.
-    5th Meeting of the Board of Studies (BoS) was held on 5 December 2017 at 5:50 pm.
-    4th Meeting of the Quality Assurance Board (QAB) was held on 11 December 2017 at 5:30 pm.
-    18th Meeting of the Council was held on 13 December 2017 at 4:30 pm.

-    19th Meeting of the Council was held on 17 December 2017 at 12:00 Noon.
-    12th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 21 December 2017 at 5:30 pm.
-    8th Meeting of the Articled Students Committee (ASC) was held on 24 December 2017 at 5:30 pm.
 

Non-standing Committees:

-    5th Meeting of the Editorial Board (EB) was held on 5 December 2017 at 6:30 pm.
-    4th Meeting of the Audit Committee was held on 7 December 2017 at 5:30 pm.
-    2nd Meeting of the Project Development & Implementation Committee (PDIC) was held on 14 December 2017 at 6:00 pm.

-    5th Meeting of the Committee for Amendment of CA Order & Bye-Laws was held on 27 December 2017 at 5:30 pm.
 

Standing and Non-standing Sub-committees:

-    th Meeting of the ERP Project Steering Committee of Information & Communication Technology Committee (ICTC) was held on 6 December 2017 at 6:00 pm.
-    1st Meeting of the Technical & Research-Sub Committee was held on 14 December 2017 at 1:30 pm.
-    4th Meeting of the Articled Students Sub-Committee was held on 18 December 2017 at 6:00 pm.

 

Let me close by wishing you all a safe, healthy and prosperous 2018.


Adeeb Hossain Khan FCA
President-ICAB

 

Update Date : 18/01/2018

President's Communication: November - 2017

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

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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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

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

The following meetings of the Council, Standing and Non-standing Committees and Sub-committees of ICAB were held during the month of November 2017:

 

Standing Committees:

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

 

Non-standing Committees:

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

 

Standing and Non-standing Sub-committees:

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

 

With best wishes to all,


Adeeb Hossain Khan FCA
President-ICAB

 

Update Date : 12/12/2017

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