President’s Communication : February 2019

  President’s Communication : February 2019


Dear Fellow Members
Assalamu Alaikum,

The month of February has the significance of 'Ekushey' which is synonymous with 'Ekushey February', the day we observed and honor those who sacrificed their lives on 21st February 1952, simultaneously sowing the seeds of the independence movement which was to free East-Bengal from the then Pakistani rulers. In the world's history, no other nation has had to struggle so much, shed so much blood to hang onto their right to speak their Mother Tongue. The lesson from our glorious language movement is our most precious national pride, which always inspires us. We observed the day with due solemnity.

 

Dear fellow members, our Institute is an organization to be proud of and I want to see ICAB is playing very constructive role in nation building and respected everywhere. Although the Institute is currently facing some challenges, but we are more than capable of addressing these prudently and transforming these challenges info opportunities. I look forward to contributing further to the endeavors taken by my predecessors and I hope that during my time in office as president I will be able to foster on our already strong name-ICAB.

 

Now, let me give a brief on major activities undertaken during the month of February 2019. First of all, my heartiest congratulations to Newly Qualified CAs who have made a fantastic set of results in November-December 2018 session. I wish their successful career and true contribution to the national economy and the CA profession in particular.

 

13 February 2019, under prior credit learning program, ICAB allows subjects waiver for students of the Institute of Business Administration (IBA)-Dhaka University and in this regard we have come into an agreement at a formal ceremony held at IBA auditorium. Besides, we shall work with a view to cooperating each other through combining expertise and resources, and to accelerate the development of the accountancy and finance profession in Bangladesh. It is a remarkable development of the Institute indeed.

 

24 February 2019, New York, as the President I represent ICAB at CEOs meeting of CA Worldwide (CAW) and made a presentation on “SMPs in the Emerging Economies” besides my introductory deliberation on ‘Institute and Market Development’.

 

Most importantly I am pleased to inform you that I had an exclusive meeting with Mr. Michael Izza, Chairman-CAW and Chief Executive of the Institute of Chartered Accountants in England and Wales(ICAEW), and Mr. Vernon Soare, Chief Operating Officer of ICAEW. We discussed mainly the capacity building of ICAB and its strategic plan for 10 years - how ICAEW can help and support ICAB.

 

18 February 2019, we paid a courtesy call on Finance Minister Mr. AHM Mustafa Kamal, who is also a Chartered Accountant and proud member of ICAB. We delightfully conveyed warm greetings to him for being appointed Finance Minister. Effectively we held a meeting with him to discuss issues relating to professional matters. Vice Presidents Mr. NKA Mobin FCA, Prof. Dr. Md Salim Uddin FCA, Mr. Md. Moniruzzaman FCA and Secretary Major General Muhammad Imrul Quayes, ndc, psc(Retd) were being with me during the meeting.

 

12 February 2019, another courtesy call was made on Mr. CQK Mustaq Ahmed, Chairman of the Financial Reporting Council (FRC) at his office. Vice Presidents Mr. NKA Mobin FCA, Prof. Dr. Md Salim Uddin FCA, Mr. Md. Moniruzzaman FCA, Council Members Mr. Md. Muhammad Farooq FCA, Mr. Md. Shahadat Hossain FCA, Mr. Mohammed Forkan Uddin FCA and Secretary Major General Muhammad Imrul Quayes, ndc, psc(Retd) also accompanied me during this visit.

 

14 February 2019, another program on ‘Career Excellence Seminar & MoU Signing Ceremony’ was held at BRAC University auditorium. BRAC University has come under a collaboration with ICAB regarding subjects’ waiver for graduate or post graduate students and to work with any other areas relating to education, training, workshop, research, higher studies as mutually agreed by the two Institutes.

 

20 February 2019, workshop on ‘Advanced Scholastic Valuations’ (Business and Assets Valuation) was held at ICAB Auditorium. Dr. Fernando Scarpati, Managing Director, Business Valuation International (BVint) was the resource person. Among others I was present in closing ceremony. It was a wonderful session and no doubt, members would be benefited from this workshop.

 

02 February 2019, the closing ceremony of the Advanced Level training on IFRS & IAS was held. As the Chief Guest Mr. SM Rejoan Hossain, Additional Secretary (Admin), Ministry of Commerce, GoB was present. Recurrently ICAB holds this training every year. Updates of IFRS & IAS were discussed in the session.

 

16 February 2019, I attended a launching ceremony of “Recollections of a Civil Servant –Turned Banker” authored by Md. Matiul Islam, FCA. Mr. Islam is the country’s first Finance Secretary and one the of top bureaucrats who took the challenges and responsibility of rebuilding the war torn new born Bangladesh. We are really proud of him.

 

17 February 2019, Muktir Sangram’ authored by Md. Shahadat Hossain FCA was launched at a ceremony where I was present as the Special Guest. Mr. Shahadat Hossain has two other books in his credit namely ‘Bangabandhu-O-Bangladesher Arthonity’, and ‘Accountability for Economic Development’. Typical professional Accountants are engrossed with mathematical data, calculation of income, revenue & expenditure and above all ethical code of conduct. However, Mr. Md. Matiul Islam, FCA and Mr. Md. Shahadat Hossain FCA are extraordinary Chartered Accountants who cut a remarkable trace in their career.

 

You will be happy to learn that I have advised the ICAB executive team to preserve the books authored by our respected members at a place of ICAB premises apart from those books to be made available in library.

 

21 February 2019, the Dhaka Regional Committee (DRC) of ICAB organized an art competition, poetry recitation, free medical check-up for children and a discussion on language movement marking the Omar Ekushey and the International Mother Language Day at ICAB auditorium.

 

Eminent literary and journalist Mr. Fazle Lohani graced the occasion as the chief guest and Professor Dr. Biswajit Gosh, Vice Chancellor of Robindra University as guest of honour.

 

Among others, I was present in the meeting and recalled the contributions of language veterans and also reiterated our commitments to build the nation with the spirit of this movement. At the end I distributed few prizes to the winners along with the chief gust and the special guest.

 

At dawn of 21st February, as President I joined a rally organized by ICAB to place floral wreath at the altar of Central Shaheed Minar in observance of Amar Ekushey and International Mother Language Day. Council Member Mr. Md. Shahadat Hossain FCA, Secretary Major General Muhammad Imrul Quayes, ndc, psc (retd) and DRC Chairman Mr. AHM Ariful Islam FCA, Secretary Md. Mr. Amran Hossan FCA, among others also attended the procession.

 

We Mourn: we are sadden by the demise of our fellow members Mr. Syed Mohammed Nurul Islam Meahji FCA (Enrl. No. 175), Proprietor of S N Meahji & Co., Chartered Accountants and Mr. Bimalendu Chakraborty FCA (Enrl. No. 425), Proprietor of B. Chakraborty & Co., Chartered Accountants. We prayed to Almighty Allah for eternal peace to the departed souls. May Allah give the bereaved family members to bear the irreparable loss.

 

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 2019:

 

Standing Committees:

 

  • 1st Meeting of the Technical & Research Committee (TRC) was held on 6 February 2019 at 6:00 pm.
  • 1st Meeting of the Board of Studies (BoS) was held on 12 February 2019 at 6:00 pm.
  • 1st Meeting of the Articled Students Committee (ASC) was held on 13 February 2019 at 5:00 pm.
  • 2nd Meeting of the Examination Committee was held on 19 February 2019 at 11:00 am.
  • 2nd Meeting of the Council was held on 19 February 2019 at 1:00 pm.
  • 1st Meeting of the Quality Assurance Board (QAB) was held on 25 February 2019 at 5:30 pm.
  •  

Non-standing Committees:

 

  • 1st Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 2 February 2019 at 4:30 pm.
  • 1st Meeting of the Regulators & Trade Bodies Coordination Committee (RTBCC) was held on 5 February 2019 at 5:30 pm.
  • 1st Meeting of the Audit Committee was held on 11 February 2019 at 5:30 pm.
  • 1st Meeting of the Committee for Amendment of CA Order, Bye-Laws and FRA was held on 12 February 2019 at 6:00 pm.
  • 1st Meeting of the ICAB Management Reforms, Project Development & Capacity Building was held on 14 February 2019 at 6:00 pm.
  • 1st Meeting of the Committee on Professional Accountants in Business (PAIB) was held on 16 February 2019 at 6:00 pm.
  • 1st Meeting of the Continuing Professional Development Committee (CPDC) was held on 17 February 2019 at 6:00 pm.
  • 1st Meeting of the Small & Medium Practitioners Committee (SMP) was held on 17 February 2019 at 5:30 pm.
  • 1st Meeting of the Members Issues, Services & Welfare Committee (MSWC) was held on 18 February 2019 at 5:30 pm.
  • 1st Meeting of the Editorial Board (EB) was held on 18 February 2019 at 5:30 pm.
  • 1st Meeting of the Information & Communication Technology Committee (ICTC) was held on 18 February 2019 at 5:30 pm.
  • 1st Meeting of the Review Committee for Published Accounts & Reports (RCPAR) was held on 20 February 2019 at 5:30 pm.
  • 1st Meeting of the Regional Committees & Overseas Management Chapter Committee (RCOMCC) was held on 24 February 2019 at 6:00 pm.
  • 1st Meeting of the Women in Leadership (WIL) was held on 26 February 2019 at 5:30 pm.
  • 1st Meeting of the Taxation & Corporate Laws Committee (TCLC) was held on 26 February 2019 at 6:00 pm.
  • 1st Meeting of the Membership Development & Mutual Collaboration Committee (MDMCC) was held on 27 February 2019 at 5:30 pm.

 

Standing and Non-Standing Sub-committees:

 

  • 1st Meeting of the ERP Project Steering under the Information & Communication Technology Committee (ICTC) Sub-Committee was held on 13 February 2019 at 6:00 pm.

 

Wish you all the best.

 

A F Nesaruddin FCA

President

 

Update Date : 14/03/2019

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