President's Message: August 2017

President's Communication: December 2017

Dear Fellow Members,
AssalamuAlaikum and greetings to you all.
I am pleased to share with a summary of the major events held in the month of August 2017.


In ICAB history, for the first time we organized a gathering of students from various universities. We could call it “Student Summit”. It was a very successful event which attracted nearly 500 students from several universities. The Student Summit was held on 5 August 2017, at Sena Malancha, Dhaka Cantonment, our aim was to motivate the prospective students about Chartered Accountancy (CA) profession and to bring their notice how CA profession


A good number of audit firms set up stalls at the venue, where prospective students could discuss the profession with current students and members of ICAB.


In the opening remarks I tried to inspire them to undertake CA course to brighten their future career. Vice President Mr. Mostafa Kamal FCA delivered an excellent presentation on Chartered Accountancy course and the benefits of studying CA. Council Member and Chairman of the Student Summit Organizing Committee Mr. Mahmudul Hasan Khusru FCA made concluding remarks.


In the second part of the Summit few of our CEO members shared their experiences. These were Mr.Ahmed Raihan Shamsi FCA, Chief Executive Officer, Accenture CIS Limited & Managing Director, Communications, Media & Technology, ASEAN, Mr. Akhter Matin Chaudhury FCA, Chairman & Managing Director, NUVISTA Pharma Ltd., Ms. Parveen Mahmud FCA, Past President -ICAB & Managing Director, Grameen Telecom Trust, Mr.Md. Samsul Alam Mallick FCA, Managing Director, New Zealand Milk (BD) Ltd., and Mr.Noor-E-Khoda Abdul Mobin FCA, Managing Director and CEO, Emerging Credit Rating Ltd..


From the Council-ICAB and on my personal behalf I thank all the resource persons, VCs, Chairman & Deans and Teachers of Business faculties of universities who lent their support unconditionally to make the programme a success. My thanks also to Dhaka Regional Committee of ICAB for organizing a sort quiz competition and the CA firms who gave a unique feature of the event by setting their stalls at the venue. My very special thanks to the ICAB team, led by our Secretary, for excellent arrangements for this unprecedented event.


A Members’ Conference on ‘Financial Reporting Oversight: Global Practice and Bangladesh’ was held on 17 August 2017 at the ICAB Auditorium, where Mr. C. Q. K. Mustaq Ahmed, Chairman, Financial Reporting Council (FRC) was present as the Chief Guest. It was his maiden participation with ICAB in open forum. I delivered welcome address while Mr. Muhammed Farhad Hussain FCA, Past President & Member Council-ICAB conducted and chaired the seminar.


Dr. Ranjan Kumar Mitra, Assistant Professor, Department of Accounting & Information Systems, University of Dhaka presented the Key-note paper and Mr. Mostafa Kamal FCA, Member-Council &Vice President (E&T) ICAB made concluding remarks.


The meeting of the Jury Board of Review Committee of Published Accounts & Reports (RCPAR) 2017 was held at ICAB Council Room on 23 August 2017.


In the meeting six members Jury Board headed by Mr. Md. Matiul Islam FCA were made aware of the procedure for evaluation of the competition and the results. The Jury Board expressed its full satisfaction over the process and procedures of the Award.


The other members of the Jury Board were Ms. Rokia Afzal Rahman, former Adviser to Caretaker Government of Bangladesh, Professor Mr. Wahiduddin Mahmud, former Adviser to Caretaker Government of Bangladesh, Mr. AHM Moazzem Hossain, Editor, The Financial Express and Dr. Mohammed Farashuddin, Ex-Governor, Bangladesh Bank. The board gave their valuable suggestions, which were incorporated as appropriate.


An ICAB delegation led by me participated in a meeting regarding LGSP-III at LGSP office on 22 August 2017. The other members of the delegation were Vice President Mr. Md. Mahamud Hosain FCA, Council Member & Past President Mr. Kamrul Abedin FCA, Secretary Maj Gen Muhammad Imrul Quayes (Retd) and Director(Technical) Mr. Mahbub Ahmed Sidique FCA. Mr. Sardar Sarafat Ali, Project Director, Local Government Support Project-III, Local Government Division, Ministry of LGRD & Cooperatives, GoB and Mr. Md. Enamul Hoque, Finance Associate(Audit) from the same division also participated in the meeting.


The discussion emphasised on the quality of audit, increase of audit fees, signing of MoU between ICAB and Local Government Support Project-III, training of auditors, audit of Union Parishad and Paurashava in the country, etc.


Another delegation from the Institute led by me participated in SAFA International Conference Board Meeting and different Committee Meetings which were jointly organized by the Institute of Chartered Accountants of Nepal(ICAN) and the Certified Professional Accountants (CPA) Afghanistan on 27, 28 &29 August 2017 in Kathmandu, Nepal.


Other members of the ICAB delegation were Council Members & Past Presidents Mr. Akhtar Sohel Kasem FCA, Mr. Muhammed Farhad Hossain FCA, Ms Parveen Mahmud FCA, Mr.Nasir Uddin Ahmed FCA, Council Members Mr. Dewan Nurul Islam FCA , Mr. AF Nesaruddin FCA, Mr. Md. Shahadat Hossain FCA and Mr. Mahmudul Hasan Khusru FCA. Also, Mr. ASM Nayeem FCA, SAFA President, Council Member & Past Present of ICAB and SAFA Executive Secretary Mr. Mahbub Ahmed Siddique FCA participated in the conference and the meetings.


The International Conference was designed especially for professional accountants in business, services andother interested stakeholders. ICAB Council Member Mr. Md. Shahadat Hossain FCA, presented the technical paper titled "Role of Professional Accountants in Economic Developments" at Session-I of the SAFA International Conference. Speakers from international bodies, International Federation of Accountants (IFAC), International Accounting Standards Board (IASB), European Federation of Accountants and Auditors(EFAA), World Congress of Accountants (WCOA), South Asian Federation of Accountants (SAFA) member bodies shared experience from their respective country’s perspective in four technical sessions and a valedictory session.


I chaired the meeting of Committee on Professional Ethics and Independence, SAFA, which was held on 27 August.


A six month long Certificate Course on Information Systems Audit ( IS Audit), for the 2nd batch started on 20 March 2017 and it has been going on successfully. The total participants are 40.The course will continue up to 30 October2017. Another Certificate Course on International Financial Reporting Standards (IFRS)" and International Accounting Standards(IAS) has started from 12 August 2017 at ICPE training room and expected to conclude on 30 September 2017. 40 participants are participating in the training.


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- 2017:


Standing Committees:
   -   8th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 5 August 2017 at 3:00 p.m.
   -   3rd Meeting of the Examination Committee was held on 16 August 2017 at 11:00 a.m.
   -   12th Council Meeting was held on 16 August 2017 at 1:00 p.m.
   -   4th Meeting of the Articled StudentsCommittee (ASC) was held on 20 August 2017 at 5:30 p.m.
   -   5th Meeting of the Examination Committee was held on 21 August 2017 at 5:30 p.m.
   -   13th Council Meeting was held on 23 August 2017 at 6:30 p.m.
   -   5th Meeting of the Articled Students Committee (ASC) was held on 24 August 2017 at 6:00 p.m.
   -   9th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 11 August 2017 at 11:00 a.m.
   -   4th Meeting of the Board of Studies (BoS) was held on 27 August 2017 at 6:00 pm.


Non-standing Committees:
   -   2nd Meeting of the Audit Committee was held on 01 August 2017 at 5:30 p.m.
   -   3rd Meeting of the Review Committee for Published Accounts & Reports(RCPAR) was held on 10 August 2017 at 6:30 p.m.
   -   4th Meeting of the Human Resource(HR) Committee was held on 16 August 2017 at 4:00 p.m.
   -   2nd Meeting of the Continuing Professional Development Committee (CPDC) was held on 20 August 2017 at 6:00 p.m.
   -   3rd Meeting of the Media & Branding Committee was held on 24 August 2017 at 5:30 p.m.
   -   2nd Meeting of the Committee for Women in Leadership was held on 30 August 2017 at 5:30 p.m.


Standing and Non-standing Sub-committees:
   -   1st Meeting of the Financial Service Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 01 August 2017 at 5:00 p.m.
   -   1st Meeting of the Insurance Sector Sub-committee of Review Committee for Published Accounts & Reports(RCPAR) was held on 02 August 2017 at 5:30 p.m.
   -   1st Meeting of the Public Sector Sub-committee of Review Committee for Published Accounts & Reports(RCPAR) was held on 03 August 2017 at 5:30 p.m.
   -   1st Meeting of the Private Sector Banks Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 6 August 2017 at 5:00 p.m.
   -   1st Meeting of the Diversified Holdings Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 06 August 2017 at 5:00 p.m.
   -   1st Meeting of the Agriculture Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 06 August 2017 at 5:00 p.m.
   -   1st Meeting of the Service Sector Sub-committee of Review Committee for Published Accounts & Reports(RCPAR) was held on 07 August 2017 at 5:30 p.m.
   -   1st Meeting of the Manufacturing Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 07 August 2017 at 6:30 p.m.
   -   1st Meeting of the Integrated Reporting Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 08 August 2017 at 3:00 p.m.
   -   1st Meeting of the Public Sector Entities Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 08 August 2017 at 5:30 p.m.
   -   1st Meeting of the Corporate Governance Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 08 August 2017 at 5:30 p.m.
   -   2nd Meeting of the Working Group for Professional Development Committee (PDC) was held on 9 August 2017 at 5:30 p.m.
   -   2nd Meeting of the Conveners of Working Groups for Professional Development Committee (PDC) was held on 22 August 2017 at 6:00 p.m.
   -   2nd Meeting of the Financial Service Sector Sub-committee of Review Committee for Published Accounts & Reports (RCPAR) was held on 22 August 2017 at 5:00 p.m.
   -   Jury Board Meeting of Review Committee for Published Accounts & Reports (RCPAR) was held on 23 August 2017 at 12:00 Noon.


                ---With best wishes to all


Adeeb Hossain Khan FCA
President

Update Date : 27/09/2017

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