President's Communication April-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

President's Communication: October - 2017

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

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


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


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


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


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


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


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


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


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

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

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

 

Non-standing Committees:

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

 

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

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

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

With best wishes to all,


Adeeb Hossain Khan FCA
President-ICAB

 

Update Date : 26/11/2017

President's Communication: September 2017

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Standing Committees:

 

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

 

Non-standing Committee:

 

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

 

Standing and Non-standing Sub-committees:

 

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

 

                ---With best wishes to all

 

Adeeb Hossain Khan FCA
President

Update Date : 16/10/2017

President's Communication: August 2017

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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


                ---With best wishes to all


Adeeb Hossain Khan FCA
President

Update Date : 27/09/2017

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