President's Communication: December -2018

President's Communication: December- 2018

Assalamu Alaikum and greetings to you all!!

Dear Fellow Members,

Assalamu Alaikum and Greetings to you all,

 Dear fellow members, I am going to signoff as president of this great institute as the year ends. New leadership will come in as it does every year. I am sure you will be offering the similar cooperation as you did to me.

 

Throughout the year the Institute has worked on many folds and we tried to deliver the best of our ability. However, I believe that there are always better ways for doing things.

 

Throughout the year a good number of reforms & initiatives have been taken. Some we could finish, some are not. Now it is time for new committee to further the momentums of the wheel of development.

 

Having expressed my last days feeling, let me say we were packed with large no of prgramme and we had hectic days & might to materialise those events.

 

With color & festivity members elected the new Council 2019-21; the council intern elected Mr. AF Nesaruddin FCA as President and Mr. NKA Mobin FCA, Dr. Md. Salim Uddin FCA and Mr. Md Moniruzzaman FCA as Vice Presidents of the Institute for the year -2019. Congratulations to them! We wish them the success in all folds.

 

The 46th Annual General Meeting (AGM) of ICAB was held on 22 December 2018 at the ICAB Auditorium, under the chairmanship of myself. At the outset of the meeting, members observed a minute silence and paid tributes to the departed souls of members including Mr. AK Chowdhury FCA. At the last part of the AGM, members had an active participation in the meeting.

 

I along with Vice Presidents 2018 and President & Vice Presidents elect 2019, Council Members, Past Presidents, Members and their spouses took part in Members’ Night 2018 programme at InterContinental, Dhaka on 22 December 2018. This year the Night was adorned with colorful banners and festoons, colorful lights. Renowned celebrities singers performed. We honoured some of our outgoing Council Members who are retiring. We wished them happy and healthy lives. The members & spouses and their relatives enjoyed the Night. The programme was followed by a sumptuous Dinner.

 

ICAB organized the 18th ICAB National Award ceremony for Best Presented Annual Report 2017 at a glittering event at a city hotel on 24 December 2018. The Presence of honorable Finance Minister Mr. AMA Muhith as the Chief Guest has made the occasion a unique one amidst the presence of a number of Special Guests namely Mr. Abdur Rouf Talukder, Finance Secretary, Finance Division, Ministry of Finance, GoB, Mr. Md. Ashadul Islam, Secretary, Financial Institutions Division, Ministry of Finance,

 

GoB, Mr. Mohammad Muslim Chowdhury, Comptroller and Auditor General of Bangladesh, GoB and Mr. C. Q. K. Mustaq Ahmed, Chairman, Financial Reporting Council (FRC) as Special Guests. We were very grateful to them all for giving us your precious time in this gala event. We congratulated the award winners who competed among 110 listed and non listed companies’ for their annual reports and became 1st, 2nd and 3rd. I also thanked Mr. Muhammed Farhad Hussain FCA, Chairman, Review Committee for Published Accounts & Reports under whose leadership the programme became a very successful and flawless one. Every turned out to be very perfect. All involved in the BPA deserves more than appreciation.

 

on behalf of ICAB and IFC Country Manager (Bangladesh, Bhutan and Nepal), Ms. Wendy Werner, CFA signed a ‘Cooperation Agreement’ relating to Board Leadership and Corporate Governance for Training of Trainers to ICAB members with special emphasis to female members on 19 December 2018. ICAB Council Members and Past Presidents Mr. Muhammed Farhad Hussain FCA, Ms. Parveen Mahmud FCA, Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd.), Project Manager Ms. Lopa Rahman, Ms Sheela Rubina Rahman, Consultant, Corporate Governance Advisory Services, South Asia Region and other IFC officials also witnessed the ceremony.

 

ICAB hosted a Dinner in honour of SAFA delegates from India, Nepal and Sri Lanka at Hotel InterContinental, Dhaka on 10 December 2018. The delegates from the SAARC Countries attended the SAFA CFO International Conference organised by ICMAB in Bangladesh recently.

 

Like the other years ICAB awarded 40 meritorious children of ICAB members and employees for their brilliant results in public examinations in 2018 under the auspicious of Members Services and Welfare Committee (MSWC) of the Council-ICAB on 13 December 2018.

 

We had distinguished Professor Dr. Md. Akhtaruzzaman, Vice Chancellor University of Dhaka as the chief guest and eminent journalist & writer Mr. Anisul Hoque, Associate Editor, Prothom-Alo as the Special Guest in programme. Their presence illuminated the event and enlighten the audience by their thoughtful speeches. I along with MSWC Chairman Mr. Mostafa Kamal FCA, Council Members and Secretary Major General Muhammad Imrul Quayes, ndc, psc (Retd) were also present in the event and had opportunity to speak few inspirational words to the awardees who will be the future leaders of the country.

 

I congratulated Mr. A.H.M. Ariful Islam FCA and Mr. Md. Amran Hossan FCA who have been elected Chairman and Secretary respectively of Dhaka Regional Committee (DRC) of ICAB. I believe DRC activities will get a new dimension under their leadership in 2019. At the same time I also congratulate CRC-ICAB Mr. Imran Abu Hasan FCA and Mr. Mohammad Shaheed FCA on being elected as the Chairman and the Secretary respectively or the year 2019.

 

 

Discussion and cultural programme were organized by Dhaka Regional Committee (DRC)-ICAB in observance of Victory Day of Bangladesh on 16 December 2018 at ICAB Auditorium where I along with Vice President Mr. Mahamud Hosain FCA, Past President & Council Member Mr. M Farhad Hussain FCA, Council Member Mr. Md Shahadat Hossain FCA, Past President Mr. G Kibria FCA, Secretary Maj Gen Muhammad Imrul Quayes (Retd.) were present. DRC observed the Victory Day in a befitting manner.

 

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

The following meetings of the Council, Standing, Non-Standing Committees and Sub-committees of ICAB were held during the month of December 2018:

 

Standing Committees:

* 16th Meeting of the Council was held on 1 December 2018 at 5:00 pm.

* 5th Meeting of the Technical & Research Committee (TRC) was held on 4 December 2018 at 5:30 pm.

* 17th Meeting of the Council was held on 9 December 2018 at 10:30 am.

* 6th Meeting of the Board of Studies (BoS) was held on 12 December 2018 at 6:00 pm.

* 12th Meeting of the Investigation and Disciplinary Committee (IDC) was held on 12 December 2018 at 5:30 pm.

* 6th Meeting of the Technical and Research Committee (TRC) was held on 17 December 2018 at 5:30 pm.

* 6th Meeting of the Executive Committee (EC) was held on 18 December 2018 at 5:00 pm.

* 18th Meeting of the Council was held on 22 December 2018 at 2:30 pm.

* 7th Meeting of the Executive Committee (EC) was held on 27 December 2018 at 4:30 pm.

19th Meeting of the Council was held on 31 December 2018 at 5:00 pm.

7th Meeting of the Articled Students Committee (ASC) was held on 31 December 2018 at 6:00 pm.

 

Non-standing Committees:

* 4th Meeting of the Review Committee for Published Accounts &Reports (RCPAR) was held on 2 December 2018 at 6:30 pm.

* 4th Meeting of the Committee for Amendment of CA Order & Bye-Laws was held on 5 December 2018 at 5:30 pm.

* 4th Meeting of the Audit Committee was held on 8 December 2018 at 5:30 pm.

* 2nd Meeting of the Committee for Small and Medium Practitioners (SMP) was held on 12 December 2018 at 5:30 pm.

* 5th Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 17 December 2018 at 6:00 pm.

* 4th Meeting of the Editorial Board (EB) was held on 19 December 2018 at 5:30 pm.

Standing and Non-standing Sub-committees:

* Members Services & Welfare Committee (MSWC) Sub-committee was held on 4 December 2018 at 6:00 pm.

* 4th Meeting of the Articled Students Committee (ASC) 10-Members Sub-committee was held on 5 December 2018 at 5:30 pm.

 

No more today. Wish you all peace, happiness and prosperity for everyone.

 

 

 

Dewan Nurul Islam FCA

President

Update Date : 10/01/2019

President's Communication: November - 2018

Assalamu Alaikum and greetings to you all!!

Dear Fellow Members,

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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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

 

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


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


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


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


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


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


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


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


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


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


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


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


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


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


Meetings of Council and Standing & Non-standing Committees and Sub-committees
The following meetings of the Council, Standing and Non-Standing Committees and Sub-committees of ICAB were held during the month of November 2018:


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


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


Dewan Nurul Islam FCA 
President

 

 

Update Date : 11/12/2018

President's Communication: October - 2018

Assalamu Alaikum and greetings to you all!!

Dear Fellow Members,

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

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


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


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


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


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


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


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


Meetings of Council and Standing & Non-standing Committees and Sub-committees
The following meetings of the Council, Standing and Non-Standing Committees and Sub-committees of ICAB were held during the month of October 2018:
Standing Committees:
-    14th Council Meeting was held on 04 October 2018 at 5:30 pm.
-    5th Meeting of the Executive Committee (EC) was held on 5:30 pm.
-    4th Meeting of the Quality Assurance Board (QAB) was held on 10 October 2018 at 5:30 pm.
-    9th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 16 October 2018 at 6:00 pm.
-    4th Meeting of the Technical & Research Committee (TRC) was held on 22 October 2018 at 5:30 pm.
-    5th Meeting of the Board of Studies (BoS) was held on 23 October 2018 at 6:00 pm.
-    15th Council Meeting was held on 28 October 2018 at 5:30 pm.
-    10th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 30 October 2018 at 6:00 pm.

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

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

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

 

Update Date : 27/11/2018

President's Communication: August - 2018

Assalamu Alaikum and greetings to you all!!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

We Mourn

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

Congratulations to Newly Qualified CAs !!

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


Meetings of Council and Standing & Non-standing Committees and Sub-committees
The following meetings of the Council, Standing and Non-Standing Committees and Sub-committees of ICAB were held during the month of August 2018:

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

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

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

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


Dewan Nurul Islam FCA
President

 

Update Date : 13/09/2018

President's Communication: July - 2018

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

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

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

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

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

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

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

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

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

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

The major deliberations of the conference were on audit documentation, compliance required for practice, findings of QAB and IDC, audit guide of small and medium enterprises (SME) and computer-assisted audit techniques and tools (CAATT), etc.

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

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

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

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

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

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

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

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

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

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

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

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


Meetings of Council and Standing & Non-standing Committees and Sub-committees
The following meetings of the Council, Standing and Non-Standing Committees and Sub-committees of ICAB were held during the month of July 2018:

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

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

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

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


Dewan Nurul Islam FCA
President

 

Update Date : 12/08/2018

President's Communication: June - 2018

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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


Meetings of Council and Standing & Non-standing Committees and Sub-committees
The following meetings of the Council, Standing and Non-Standing Committees and Sub-Committees of ICAB were held during the month of June 2018:

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

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

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

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


Dewan Nurul Islam FCA
President

 

Update Date : 23/07/2018

President's Communication: May - 2018

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The relatives, colleagues, friends and well-wishers of deceased members, and employees of the Institute attended the programme.

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


Dewan Nurul Islam FCA
President

 

Update Date : 03/07/2018

President's Communication: April - 2018

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

On behalf of the Council and on my behalf a condolence letter was sent to the bereaved family of Mr. Chowdhury. We pray, May Allah grant him eternal peace.

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


Dewan Nurul Islam FCA
President

 

Update Date : 21/05/2018

President's Communication: March - 2018

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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


Dewan Nurul Islam FCA
President

 

Update Date : 17/04/2018

President's Communication: February - 2018

Asalamu Alaikum and greetings to you all.

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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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

The following meetings of the Council, Standing and Non-standing Committees and Sub-committees of ICAB were held during the month of February 2018:
 

Standing Committees:

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

 

Non-standing Committees:

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

 

Standing and Non-standing Sub-committees:

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


With best wishes to you all.


Dewan Nurul Islam FCA
President-ICAB

 

Update Date : 15/03/2018

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