President’s Communication : December ​ 2019

President’s Communication : December  2019

Dear Members, my tenure as the President of the Institute will expire on 31st December 2019. This is my last communication to you from the desk of President for the year 2019. Over the year we sincerely tried to deliver the best. I would like to extend my sincere gratitude to the Members of the Council for their unwavering support to me throughout the year 2019. It was a great opportunity for me to work with a group of dynamic professionals along with the excellent management team of the Institute led by the Secretary and CEO.

I believe that there are always better ways for doing things.    The new office bearers of the Institute are more dynamic and under their able leadership the Institute will reach to a new height of excellence.

Dear Members, let me keep you abreast of important events and initiatives of the Institute during the month of December 2019.

I passed a hectic  time in  this December wrapping up my last minute deliverables beside  doing  few routine works of the Institute. The 47th   Annual General Meeting of the Institute was held at CA Bhaban on 18 December 2019.  A large number of Members attended the meeting and had the opportunity to raise their concerns  about certain  areas of the Institute’s performance which they thought need improvement. I delightedly responded  to those concerns. It was a very nice session. Just before holding the AGM, ICAB new office bearers of 2020 were elected at a Council Meeting.  I like to extend my heartiest congratulations to Mr. Muhammad Farooq FCA, President 2020 and Vice Presidents 2020  Mr. Sidhartha Barua FCA, Mr. Sabbir Ahmed FCA and Mr. Mohammed Forkan Uddin FCA. I believe that they will have better opportunity and cooperation from you, the members of the Institute.

ICAB organized a members’ conference styled 'Financial Technology: Bangladesh Perspective' at CA Bhaban on 10 December 2019. Mr. Shah Husain Imam, editor of The Financial Express, chaired the session. I delivered address of welcome while Mr. Ling Leagan, CEO Kingdom Engine International and Mr. Ifty Islam, Group Chairman of Asian Tiger Capital Partners, presented the Key Note papers.  It was an informative session in which the keynote speakers came up with a very relevant topic 'Financial Technology’ and discussed elaborately. Stressing on digital technology, I said, Chartered Accountants need to enrich knowledge and sharpen their skills through continuous learning on emerging issues especially financial technologies.

Members’ Night 2019 was held at Bangabandhu International Conference Center on 19 December 2019. I along with Vice Presidents Mr. NKA Mobin FCA and Mr. Md. Moniruzzaman FCA greeted Mr. Muhammad Farooq FCA, President 2020, and Mr. Sidhartha Barua FCA, Mr. Sabbir Ahmed FCA, Mr. Mohammed Forkan Uddin FCA, Vice Presidents elect 2020 which I believe, bears the testimony of good gesture of friendly changeover of the helm of the Institute. 

This year’s event was very significant as the Institute for the first time in its history honoured its members who completed 50 years of dedicated service to the profession. In its citation, the Institute acknowledged their individual ‘proactive cooperation and valued inputs over the years to elevate the image of the profession to new heights’. The Institute hoped that the presence and the continued guidance of these luminaries would inspire the new breed of Chartered Accountants for greater achievements by rivaling their deeds and building on their expertise.

  I had the prestigious opportunity to hand over the medals to them in this auspicious session. Council Members, Past Presidents, Members of the Institute and their spouses & children attended the programme, enjoyed  colourful cultural  show followed by sumptuous dinner.

I must  congratulate Mr. Ziaur Rahman Zia FCA and Ms. Anika Sultana FCA for being elected as Chairman and Secretary of Dhaka Regional Committee (DRC)-ICAB respectively for the year 2020 and alongside the new office bearers for 2020 Mr. Kamrul Islam-FCA-the Chairman and Mr. Sobash Chandra Chowdhury FCA-the Honorary Secretary of ICAB- Chattogram Regional Committee(CRC). I believe, under their able leadership both the committees will have a very successful journey throughout the year.

Meetings of Council and Standing & Non-standing Committees

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

Standing Committees:

  • 4th Meeting of the Board of Studies (BOS) was held on 5 December 2019 at 6:00 pm.
  • 15th Council Meeting was held on 7 December 2019 at 1:30 pm.
  • 4th Meeting of the Technical & Research Committee (TRC) was held on 9 December 2019 at 6:30 pm.
  • 3rd Meeting of the Quality Assurance Board (QAB) was held on 11 December 2019 at 5:30 pm.
  • 7th Meeting of the Articled Students Committee (ASC) was held on 12 December 2019 at 5:30 pm.
  • 11th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 12 December 2019 at 6:00 pm.
  • 16th Council Meeting was held on 18 December 2019 at 1:30 pm.
  • 7th Meeting of the Executive Committee (EC) was held on 22 December 2019 at 5:30 pm.
  • 17th Council Meeting was held on 23 December 2019 at 5:30 pm.

Non-standing Committees:

  • 4th Meeting of the Membership Development & Mutual Collaboration Committee (MDMCC) was held on 5 December 2019 at 4:30 pm.
  • 4th Meeting of the Audit Committee was held on 9 December 2019 at 5:30 pm.
  • 6th Meeting of the Members Issues, Services & Welfare Committee (MISWC) was held on 12 December 2019 at 6:00 pm.
  • 5th Meeting of the Continuing Professional Development Committee (CPDC) was held on 22 December 2019 at 6:00 pm.
  • 5th Meeting of the Editorial Board (EB) was held on 24 December 2019 at 5:30 pm.

 

Wish you all the best.

 

A F Nesaruddin FCA

President

Update Date : 12/01/2020

President’s Communication : November 2019

My dear Professional Colleagues,

Assalamu Alaikum and greetings to you all,

Dear fellow members, the month of November 2019 witnessed a full-pack of events. The more important one was SAFA International Conference 2019, which was followed by SAFA Best Presented Annual Report Awards and ICAB BPA National Awards 2018. Huge number of SAFA delegates, Government High Officials and officials from corporate houses of home and abroad, Members of the Institute enthusiastically participated in the events. Second session of the conference was dedicated to a panel discussion on foreign direct investment-destination Bangladesh participated by renowned experts from home and abroad.

 

In the up surge of International investment in recent years, Bangladesh is preparing itself to step into an upper middle class country within next few years. Foreign Direct Investment (FDI) is one of the powerful engines for economic growth. Inward FDI not only serves the long-term financial interests of foreign investors, it can also play a significant role in the growth dynamics of Bangladesh. In this scenario the Chartered Accountants as professional experts, have a great role to play. We felt the theme of the International Conference was rightly set up as ‘Foreign Direct Investment: Destination Bangladesh’.

 

We learnt more about FDI and destination Bangladesh from the key note speaker Professor Mustafizur Rahman, Distinguished Fellow, Centre for Policy Dialogue (CPD) which was followed by a panel of experts’ discussion in which diversified background professionals participated.  The SAFA International Conference 2019 in Dhaka was one of such events for the members to know how they could contribute a lot to the ongoing development of the country.

 

Dear members, we have the pleasure and honour that the Hon'ble President, People's Republic of Bangladesh, Mr. Md. Abdul Hamid inaugurated the SAFA conference where Mr. Salman Fazlur Rahman, MP Private Industry and Investment Adviser to the Hon'ble Prime Minister, graced the occasion as Special Guest. In the evening Mr. Tipu Munshi, MP, Minister, Ministry of Commerce, Government of Bangladesh graced the occasion of SAFA Best Presented Annual Report Awards and ICAB BPA National Awards 2018. The hall room was full with audience from home and abroad. All went very smoothly and I must thank Chairman Organizing Committee for his tremendous efforts in putting together the events. 

 

Dear fellow members, you have already known that Chartered Accountants Worldwide(CAW) launched a new ‘network member logo’. As the network individual member of CAW, from now on we can use this prestigious logo on our stationery, website and business cards. No doubt, it has elevated the position of ICAB members. By displaying this logo, members can show they are the part of a global network of qualified professionals who share common values and a commitment to the highest technical and ethical standard.

 

As the profession is an integral part of the society, I would like to urge the members to move ahead cohesively beyond the world of accounting and finance, for betterment of the society and the country as a whole.

 

Let me update you about some of the significant events of the Institute which have taken place during the month of November 2019:

 

ICAB hosted SAFA International Conference 2019 on 30 November 2019, the presence of Mr. Md. Abdul Hamid, Honourable President of People’s Republic of Bangladesh manifested the importance of the conference and it was also an inspiration for us. My special thanks and gratitude to the honorable President of the People’s Republic of Bangladesh for being with us. I also thank CMA Dr. PVS Jagan Mohan Rao, President, SAFA for being present in all these ICAB events. I am also thankful to respected guests and representatives from different Members bodies of South Asian Federation of Accountants (SAFA) and beyond for their gracious presence in the conference.

 

On the same day the 19th ICAB National Award for Best Presented Annual Reports 2018 ceremony which was followed by the SAFA Best Presented Annual Report Awards & SAARC Anniversary Award for Corporate Governance Disclosures 2018 ceremony. I thank honourable Minister, Ministry of Commerce, Government of Bangladesh for being presence at the ceremony. He handed over the prizes among the winners.  Mr. Mohammad Muslim Chowdhury, CAG Bangladesh and Mr. CQK Mustaq Ahmed, Chairman, Financial Reporting Council (FRC), Bangladesh were Special Guests. CMA Dr. PVS Jagan Mohan Rao, President, SAFA attended the ceremony as the Guest of Honour. I thank them for being with us at the gala ceremony and also congratulate the prize winners who really worked hard in preparing the best annual reports for the year 2018.

 

On eve of the SAFA Conference 2019, ICAB hosted a number of SAFA committee meetings including SAFA Committee on professional Ethics and Independence, SAFA Committee for Improvements in Transparency, Accountability and Governance (ITAG), SAFA Committee on Education, Training and CPD on 29 November 2019 at CA Bhaban, Dhaka.

 

Later on 01 December ICAB hosted SAFA Board meeting which was chaired by its CMA Dr. PVS Jagan Mohan Rao. Representatives of SAFA member bodies participated in the meeting. My special thanks to Mr. M Farhad Hussain FCA, Chairman, Conference Organising Committee and  Past President-ICAB for his relentless efforts to hold these events in a row.  I also thank the ICAB team led by Secretary & CEO Major General Muhammad Imrul Quayes, ndc, psc (retd) who worked hard behind the scene. Without their supports it would not be possible for holding such big events successfully.

 

The global accountancy body Chartered Accountants Worldwide (CAW) launched a network member logo on 4 November 2019 to recognise and promote a global family of Chartered Accountants. To express our solidarity on this occasion, I gave a short speech, the video clip was upload in our website.

 

I along with Council Member and Past President Mr. Nasir Uddin Ahmed FCA and Mr. Anwaruddin Chowdhury FCA, CAPA Board Member & Past President-ICAB participated in different events of  Accountants (CAPA), and International Federation of Accountants (IFAC) in Vancouver, Canada held from 9 to 14 November 2019. 

 

Our warmest congratulation to Mr. Nasir Uddin Ahmed, Past President and Council Member of ICAB for being appointed as the member of the Board of Directors of Confederation of Asian and Pacific Accountants (CAPA), at the Annual General Meeting (Assembly of Delegates) of CAPA held in Vancouver, Canada. Wish him a success in journey with his new appointment.

 

Members’ Conference on ‘The Role of Leadership in Accounting Profession’ was held at ICAB on 6 November in which the Chief Guest was Mr. Kamran Tanvir Rahman President, Bangladesh Employers’ Federation (BEF). I delivered address of welcome while Mr. Muhammed Farhad Hussain FCA Past President-ICAB chaired the session. The learned paper presenter was Mr. Akber Hakim Founder and Head Coach of Centre for Leadership (C4L).

 

 Another Members’ on ‘Professional or Career Progression in a Digital Era’ was held on 17 November 2019 in which Barrister Nihad Kabir Advocate, Supreme Court of Bangladesh & President, Metropolitan Chamber of Commerce and Industry (MCCI) was the chief guest.  I acted as session chair of the program. Mr. N K A Mobin FCA Vice President-ICAB delivered address of welcome. Mr. Mahtab Uddin Ahmed FCMA Managing Director and Chief Executive Officer Robi Axiata Limited presented the key note paper.

 

DRC-ICAB organized ‘ICAB Quiz Biz 2019’ on 22 November 2019 at ICAB Auditorium. University of Dhaka bagged the Champion trophy while North South University secured 1st Runner-up and Jatiya Kabi Kazi Nazrul Islam University 2nd Runner-up respectively. I was the Chief Guest and distributed prizes among the winners. Congratulations to ICAB Quiz Biz 2019 winners.

 

ICAB observed the International Accounting Day 2019 on 10 November 2019. A rally was brought out by the Dhaka Regional Committee-ICAB which was attended by multitudes of pupil from different CA firms, public and private universities to commemorate the day.

 

We have signed MoUs with the East West University, and the Department of Accounting and Information Systems, University of Rajshahi on 21 and 24 November 2019 respectively.  The aim of these MoUs are to cooperate each other through combining expertise and resources, and to accelerate the development of the accountancy and finance profession in Bangladesh. These are also intended to facilitate the students to entry in ICAB’s Chartered Accountancy study and to work with any other areas relating to education, training, workshop, research, higher studies as mutually agreed by the two Institutes.

 

ICAB organised a day long workshop on 'Top Level Leadership and Management Skills Development Workshop for Career Success' 2nd batch for ICAB members on 1 November 2019. The aim of the workshop is to enhance the competence of professionals serving in key position of various organizations in Bangladesh. The resource persons of workshop were from Workplace Skills Development Academy (WSDA) New Zealand, Mr. Neaz Ahmed, Senior Faculty Member & Dean of "Future CEO Program,  Mr. Ahmed Bari, Life Coach & Vice President and  Mr. Garth Cook, Training & Development Consultant.

 

Meetings of Council and Standing & Non-standing Committees

 

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

Standing Committees:

 

-      13th Council Meeting was held on 3 November 2019 at 2:30 pm. at Hotel Radission Blue, Chattogram.

-      6th Meeting of the Articled Students Committee (ASC) was held on 5 November 2019 at 5:30 pm.

-      10th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 19 November 2019 at 6:00 pm.

-      6th Meeting of the Executive Committee (EC) was held on 23 November 2019 at 4:00 pm.

-      14th Council Meeting was held on 26 November 2019 at 5:30 pm.

 

Non-standing Committees:

 

-      1st Meeting of the Taskforce for BSEC of the Regulators & Trade Bodies Coordination Committee (RTBCC) was held on 5 November 2019 at 6:00 pm.

-      5th Meeting of the Members Issues, Services & Welfare Committee (MISWC) was held on 14 November 2019 at 6:00 pm.

-      1st Meeting of the Taskforce for IDRA of the Regulators & Trade Bodies Coordination Committee (RTBCC) was held on 16 November 2019 at 5:30 pm.

-      5th Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held 18 November 2019 at 6:00 pm.

Standing and Non-Standing Sub-committees:

-      11 Members’ Sub-Committee of the Articled Students Committee (ASC) was held on 4 November 2019 at 6:00 pm.

-      2nd Meeting of the 6-Member Sub-committee of the Council was held on 14 November 2019 at 4:30 pm.

 

Wish you all the best.

 

A F Nesaruddin FCA

President

Update Date : 22/12/2019

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