President's Communication: March - 2018
Assalamu Alaikum and greetings to you all.
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:
- 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.
- 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