President's Communication August - 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

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