President’s Communication : March 2019
Dear Fellow Members
Assalamu Alaikum, greetings to you all.
The month of March reminisced the massacre committed by the then Pakistani rulers that always sadden us profoundly. The aftermath was the declaration of Independence of Bangladesh (the then east Pakistan) on the day of 26 March 1971. People had to go through nine months long nightmare, a bloody war to become independent from Pakistani occupation. To achieve independence, several known and unknown men and women sacrificed their lives. What remains with us, are their memories, words of wisdom and dreams. The day curved a niche in deep of hearts of people. Every year we celebrate 26th March as our Independence Day. On this very day different organizations and cultural groups chalk out different programs to celebrate the day in befitting manner. This year we celebrated the Day by hoisting national flag at CA Bhaban in early morning and placed floral wreath at the National Mausoleum at Savar to show deep respect to our valiant freedom fighters. Several council members, DRC members and members of the Institute enthusiastically joined us. Having deep rooted the spirit of Independence, we urged all members of this fraternity to hold the flagship of CA profession at the top of dignity and professionalism.
Now, let me give a brief on major activities undertaken during the month of March 2019:
28 March 2019, the Members’ Conference on ‘Bangladesh: policy review on Financial Reporting Act (2015)’ was organized by ICAB. Dr. Javed Siddiqui, Senior Lecturer, Accounting, Alliance Manchester Business School, University of Manchester, UK., presented the Key Note paper in the conference. Mr. C. Q. K. Mustaq Ahmed, Chairman, Financial Reporting Council (FRC) was present as the Chief Guest while Mr. A. K. Gulam Kibria FCA, Partner, G Kibria & Co., Chartered Accountants and Past President-ICAB was the Session Chairman. Hundreds of Chartered Accountants attended the conference. In my speech I pointed out our observations on three provisions of the Financial Reporting Act (FRA); formation of FRC Board, non-auditors like CIMA and CMA brought under the purview of the Act, and the provision of punishment. I discussed some other aspects of FRA and assured full support to FRC in its endeavor. Dr. Javed Siddiqui, Bangladeshi origin UK professor very precisely, described the present scenario of audit profession in Bangladesh. He discussed FRA comparing with the similar acts in other countries and placed some recommendations, which were lauded by the audience.
For the first time in history of ICAB and as bold and encouraging step on 24 March 2019, Press Conference on ‘thoughts of chartered accountants regarding next national budget’ was organized at CA Bhaban. I delivered opening remarks and Mr. Md Humayun Kabir FCA, Chairman, Taxation and Corporate Laws committee (TCLC) presented the keynote paper on income tax, VAT and customs policies. Council Member Mr. Mohammed Forkan Uddin FCA, the member of the committee Snehasish Barua FCA and ICAB Secretary Major General Muhammad Imrul Quayes, ndc, psc (retd) also spoke in the event.
Among others, ICAB Vice Presidents Mr. N K A Mobin FCA and Mr. Md. Moniruzzaman FCA, Council Member & Past Presidents Mr. Nasir Uddin Ahmed FCA, Council Members Dr. Md. Abu Sayed Khan FCA, Ms. Maria Howlader FCA and Taxation and Corporate Laws Committee Member Ms. Rakesh Saha FCA were present. We responded questions raised by journalists and reporters from media and it was a very lively session. The conference got huge media coverage in main stream newspapers and electronic media of the country.
10 March 2019, we paid a courtesy call on Mr. Md. Mofizul Islam, Secretary, Ministry of Commerce, GoB at Bangladesh Secretariat. Vice Presidents Mr. N K A Mobin FCA, Dr. Md. Salim Uddin FCA, Mr. Md. Moniruzzaman FCA and Council Member Mr. Muhammad Farooq FCA and Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) accompanied me in the meeting. We invited him and he blocked his diary to visit ICAB on 13 April 2019 to attend as the Chief Guest of a members’ conference. He also expressed his happiness to visit ICAB, one of the vital organs of the Ministry of Commerce.
19 March 2019, a team of ICAB paid a courtesy call on Mr. Kazi M Aminul Islam, Executive Chairman, Bangladesh Investment Development Authority (BIDA) at his office. Led by me, the other members of the team were Vice Presidents Mr. N K A Mobin FCA, Dr. Md. Salim Uddin FCA, Mr. Md. Moniruzzaman FCA and Council Members Mr. Muhammad Farooq FCA, Mr. Mohammed Forkan Uddin FCA, Fellow Member Mr. Ahmed Raihan Shamsi FCA and Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) discussed some professional matters.
12 March 2019, we paid a courtesy call on Mr. Fazle Kabir, Governor, Bangladesh Bank at his office and discussed different professional issues. Vice Presidents Mr. N K A Mobin FCA, Dr. Md. Salim Uddin FCA, Mr.Md. Moniruzzaman FCA and Council Members Mr.Muhammad Farooq FCA, Mr.Mohammed Forkan Uddin FCA and Secretary Major General Muhammad Imrul Quayes ndc, psc (Retd) were present in the meeting.
15 March 2019, The discussion was organized to celebrate International Women’s Day 2019 at CA Bhaban. In the program the youngsters of newly qualified female chartered accountants were also congratulated by the committee of Women in Leadership of ICAB. The program was graced by Ms. Rasheda K. Chowdhury, Former Adviser, Caretaker Government of Bangladesh and Ms. Aroma Dutta, Member of Parliament, Government of Bangladesh. I delivered address of welcome while the opening remarks was made by Ms. Parveen Mahmud FCA, Chairman, Women in Leadership Committee (WIL) & Past President-ICAB. Country’s established Women entrepreneurs and women top executives took part in Panel Discussion. Ms. Zareen Mahmud Hosein FCA conducted the discussion. Ms . Anika Sultana FCA, Member, DRC-ICAB extended the vote of thanks. ICAB Council Member Maria Howlader FCA was also present in the program.
20 March 2019, ICAB held its Advisory Committee Meeting of the Council. The meeting was chaired by Mr. M J Abedin FCA, Past President-ICAB. I gave a short presentation about the activities of ICAB and the strategic plan during my tenure. Past Presidents present appreciated the program.
02 March 2019, eight day-long training program on ‘Advance Level Certificate Course IFRS and IAS’ - 6th Batch has started from and the session of the training is going on successfully in every Saturday. A total number of 50 participants are participating in the program.
21 March 2019, the smiling faces of the youngster newly qualified Chartered Accountants were accorded a gala Reception by the Institute. DRC joined ICAB team to organize the event. I along with Vice Presidents Mr. NKA Mobin FCA, Mr. Moniruzzaman FCA, Council Members Dr. Abu Sayed Khan FCA, Mr. Md. Shahadat Hossain FCA and Mr. Gopal Chandra Ghosh FCA were present in the occasion.
09 March 2019, the meeting of Members in Practice was held at CA Bhaban. I chaired the meeting. About 54 representatives of audit firms participated in the meeting encompassed with some underpinning issues in relation to audit profession and the profession at large were discussed in the meeting with spontaneous participation by the members present.
05 March 2019, Professor Janek Ratnatunga, CEO of Institute of Certified Management Accountants, Australia and Mr. Mohammad Sazzad Hassan, Regional Director of ICMA Australia, Bangladesh met me at CA Bhaban. They placed an offer to ICAB for easy pathway membership of CMA, Australia.
The following meetings of the Council, Standing and Non-Standing Committees and Sub-committees of ICAB were held during the month of March 2019:
- 1st Meeting of the Investigation & Disciplinary Committee (IDC) was held on 12 March 2019 at 5:00 pm.
- 3rd Meeting of the Council was held on 18 March 2019 at 5:00 pm.
- 2nd Meeting of the Investigation & Disciplinary Committee (IDC) was held on 30 March 2019 at 4:00 pm.
- 1st Meeting of International & Regional Affairs Committee (IRAC) was held on 03 March 2019 at 5:30 pm.
- 3rd Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 4 March 2019 at 6:00 pm.
- 2nd Meeting of the Regulators & Trade Bodies Coordination Committee (RTBCC) was held on 5 March 2019 at 5:30 pm.
- 1st Meeting of the Media & Branding Committee was held on 10 March 2019 at 6:00 pm.
- 2nd Meeting of Committee on Professional Accountants in Business (PAIB) was held on 10 March 2019 at 6:30 pm.
- 2nd Meeting of the Membership Development and Mutual Collaboration Committee was held on 13 March 2019 at 4:30 pm.
- 2nd Meeting of the Committee for Amendment of CA Order, Bye-Laws and FRA was held on 13 March 2019 at 5:30 pm.
- 2nd Meeting of the Editorial Board (EB) was held on 19 March 2019 at 5:00 pm.
- 4th Meeting of the Taxation and Corporate Laws Committee (TCLC) was held on 20 March 2019 at 4:30 pm.
- 2nd Meeting of the Small & Medium Practitioners Committee (SMP) was held on 25 March 2019 at 5:30 pm.
- 2nd Meeting of the Members Issues, Services & Welfare Committee (MSWC) was held on 27 March 2019 at 6:00 pm.
- 2nd Meeting of the ICAB Management Reforms, Project Development & Capacity Building was held on 31 March 2019 at 5:30 pm.
Standing and Non-Standing Sub-committees:
- 1st Meeting of the 11 Members Articled Students (ASC) Sub-committee was held on 02 March 2019 at 5:00 pm.
Wish you all the best.
A F Nesaruddin FCA