President's Communication: September 2017
Dear Fellow Members,,
AssalamuAlaikum and greetings to you all.
I would like to share with you of our important activities during the month of September 2017. We had to keep our programmes limited in September because the office remained closed in the first week of the month for Eid-ul Azha. I hope members of this fraternity enjoyed the Eid vacation with the near and dear ones.
The Members’ Conference on ‘Changes in Income Tax brought by the Finance Act 2017’ was organised by ICAB at its auditorium on 14 September 2017.Mr. Md. Nojibur Rahman, Chairman, National Board Revenue (NBR) was present as the Chief Guest and three other members of NBR Mr. Md Lutfar Rahman, Barrister Jahangir Hossain, Mr. Parvez Iqbal remained present as Special Guests.
At the onset I delivered welcome speech while Dr. Jamaluddin Ahmed FCA, our past President, conducted the session as session chairman. Mr. Muhammad Mehedi Hasan FCA, Partner, Rahman Rahman Huq, Chartered Accountants presented the key note.
ICAB members discussed various changes in income tax law, brought by the Finance Act 2017 in floor discussion held after paper presentation. I believe the members benefited from this discussion.
Advisory Committee Meeting of the Council, ICAB was held at Hotel Pan Pacific Sonargaon, Dhaka on 17 September 2017. I made a short presentation about the activities of ICAB taken so far and the strategic plan for rest of the months of my tenure. I also sought guideline and advice from the Past Presidents regarding further advancement of the Institute.
I along with Mr. Mahbub Ahmed Siddique FCA, Director Technical, attended the World Standard-Setters (WSS) Conference on 25-26 September 2017 in London, UK in addition to meeting and signing agreement with International Financial Reporting Standards (IFRS) Foundation, the Chartered Institute of Public Finance and Accountancy (CIPFA), Chartered Accountants Worldwide (CAW) and the Institute of Chartered Accountants in England and Wales (ICAEW). The WSS Conference was jointly organized by IFRS Foundation and International Accounting Standards Board (IASB).
During my stay in London, I signed an “agreement for the supply of data for the adoption and publication of IFRS standards and IFRS for SMEs standard” with IFRS Foundation. IASB Chairman Hans Hoogervorst signed on behlf of IFRS Foundation. Mr. Siddique and Ms. Michelle Sansom, Technical Principal and National Standard Setters Relations of IASB, Anna Hemmant, Project Manager -Translation, Adoption & Copyright of IFRS Foundation were present during the signing ceremony.
We took part in another meeting with the Chair CIPFA Development Alan Edwards and CIPFA Head of Membership Alastair Barr on 27 September 2017 at CIPFA Head Office in London. The meeting discussed mutual collaboration between ICAB and CIPFA. CIPFA team expressed their willingness to work jointly with ICAB in Bangladesh in development of public sector financial management. They also agreed to cooperate with ICAB for opening a separate public-sector wing under ICAB leadership with a view to training, educating and examining public-sector personnel and awarding them with local public-sector qualification towards achieving CIPFA qualification and membership.
The CIPFA team also expressed their intention to provide training in public sector financial management (PSFM) and branding qualification and membership of CIPFA in Bangladesh through ICAB. They also showed their keen interest to work with ICAB in any upcoming PSFM project in Bangladesh.
We had a meeting with Sue Best, Secretary to the Board, Chartered Accountants Worldwide and Ruth Hidalgo, Senior Manager of CAW. We discussed how individual CA institute could work with CAW to promote the brand of CA globally.
I also signed a renewal of Memorandum of Understanding (MoU) with ICAEW President Nick Parker on 27 September 2017 at ICAEW office in London. ICAB Director Technical, ICAEW Chief Operating Officer Vernon Soare, and International Relationship Manager Sarah Prescott were also present in the occasion.
I also shared about ICAB’s progress, its current initiatives and future involvement for capacity building of the Institute and overall development of the profession. We also discussed about the relevant issues between the professional accountancy bodies and of Financial Reporting Council in Bangladesh and UK. I thanked for the support and guidance provided by ICAEW over the years since the inception of the ICAB-ICAEW twinning Project.
A teleconference between ICAB and CPA Australia was held on 7 September 2017 to discuss about CPA Australia Membership pathway for ICAB members. ICAB Vice President Mr. Mostafa Kamal FCA, Council Members Mr. Dewan Nurul Islam FCA, Mr. Gopal Chandra Ghosh FCA, Mr. Mahmudul Hasan Khusru FCA, Director(Technical) Mr. Mahbub Ahmed Siddique FCA, Mr. Abu Kibria from Australia and Mr. Rob Thomason, Executive General Manager, Education, CPA Australia were the participants of the teleconference. This was in connection with exemptions granted to ICAB members.
A 7 day-long intensive course on ‘Cyber Security, Enterprise Information Risk Management and Compliance’ started from 19 September at ICPE Training room. Considering the importance of IT, ICAB has organised a course on Cyber Security, Enterprise Information Risk Management and Compliance where 36 persons participated.
Major benefits of the course expected to be on understanding the following cybersecurity concerns - Confidentiality, Integrity, and Availability (CIA), the cyberspace, cyber threat, vulnerably, and cyber attack, the encryption, decryption, biometrics, and digital forensics, personally identifiable information, digital privacy, identity theft, and identity theft prevention, contingency plan, incident response plan, and digital risk management, etc.
Recourse person of the course is Dr. Em Pannah, Associate Professor, Cyber security & Information Assurance Department, University of Maryland, USA.
Sessions of the ‘Certificate Course on Information Systems Audit (IS Audit)’ - 2nd Batch is going on successfully and the course will continue up to 25 October 2017.Objectives of the IS Audit is to enhance the competence of professionals. 50 participants are participating in the course.
A six-day long training on ‘International Financial Reporting Standards (IFRS) & International Accounting Standards (IAS)’ has been started from 12 August at ICPE training room. The participants are enjoying the sessions. The course will continue till 14 October 2017.
Meetings of Council and Standing & Non-standing Committees and Sub-committees
The following meetings of the Council, Standing and Non-standing Committees and Sub-committees of ICAB were held during the month of September 2017:
- 10th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 16 September 2017 at 11:00 a.m.
- 14th Meeting of the Council was held on 17 September 2017 at 5:00 p.m.
- 3rd Meeting of the Quality Assurance Board (QAB) was held on 20 September 2017 at 5:30 p.m.
- 4th Meeting of the Media & Branding Committee was held on 09 September 2017 at 10:30 a.m.
- 2nd Meeting of the Committee for Women in Leadership was held on 10 September 2017 at 5:30 p.m.
- 4th Meeting of the Editorial Board (EB) was held on 12 September 2017 at 5:30 p.m.
- 2nd Meeting of the Advisory Committee Meeting was held on 17 September 2017 at 7:30 p.m.
- 2nd Meeting of the Committee on Public Finance and Public Sector Accounting (PF & PSA) was hel d on 21 September 2017 at 6:30 p.m.
- 2nd Meeting of the Members Services & Welfare Committee (MSWC) was held on 18 September 2017 at 5:30 p.m.
- 2nd Meeting of the Professional Development Committee (PDC) was held on 27 September 2017 at 5:30 p.m.
Standing and Non-standing Sub-committees:
- 3rd Meeting of the 10-Members Articled Students (ASC) Sub-Committee was held on 12 September 2017 at 6:00 p.m.
- 3rd Meeting of the ERP Project Steering Committee of Information & Communication Technology Committee (ICTC) was held on 13 September 2017 at 6:00 p.m.
- 1st Meeting of the 5-Member Taskforce under Quality Assurance Board (QAB) was held on 17 September 2017 at 5:30 p.m.
- 2nd Meeting of the Working Group on Professional issues related to Banks and Financial Institutions of Professional Development Committee (PDC) was held on 19 September 2017 at 5:30 p.m.
- 3rd Meeting of the Working Group on Professional issues related to Non-Government Organization (NGOs) and MFIs of Professional Development Committee (PDC) was held on 20 September 2017 at 5:30 p.m.
- 2nd Meeting of the Committee for Women in Leadership Working Group was held on 20 September 2017 at 5:30 p.m.
- Meeting of Working Group of the Committee for Women in Leadership was held on 20 September 2017 at 5:30 p.m.
- 6th Meeting of Renovation Committee was held on 21 September 2017 at 4:00 p.m.
---With best wishes to all
Adeeb Hossain Khan FCA