President's Communication: November 2017

President's Communication: November - 2017

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

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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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


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

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

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

 

Standing Committees:

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

 

Non-standing Committees:

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

 

Standing and Non-standing Sub-committees:

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

 

With best wishes to all,


Adeeb Hossain Khan FCA
President-ICAB

 

Update Date : 12/12/2017

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