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«The Institute of   Chartered Accountants  of Bangladesh  [Established under the Bangladesh Chartered Accountants Order, 1973 (President’s ...»

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The Institute of  

Chartered Accountants 

of Bangladesh 

[Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)]

CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh

President’s Communication – January 2013

Dear Fellow Members,

Assalamu Alaikum,

As the saying goes, a beginning is only the start of a journey to another beginning. As I

begin my new role as 41st President of the Institute, I wish that the profession makes a new beginning too - a new beginning with renewed strength and thrust to reach the peak of glory.

A journey of a thousand miles begins with a single step. So, join me in taking that first step together and rededicate ourselves to promote professional excellence and opportunities to conquer these challenging times.

It is an immense honour to serve as President of ICAB, particularly in view of the long glorious history of our Institute and examples of the distinguished former Presidents. I bow to the Past Presidents for their efforts in bringing the profession to its present stature. I thank the Hon’ble members of both the Council for 2010-12 and 2013-15 for reposing trust and confidence in me by electing me as the Vice-President for 3 times and then as the President of the ICAB for 2013.

I am particularly indebted to the immediate past- President Mr. Md. Syful Islam FCA, whose able guidance greatly boosted my experience and abilities to take on future challenges. I humbly acknowledge that I have learnt a lot from Mr. Islam, who has been truly a ‘Friend and Guide’ to me all through the last year. Working with him as the Vice-President gave a good exposure to the critical challenges concerning the profession.

As I carry the baton of presidency, I promise not to let you down, particularly when it comes to upholding the interests of the profession and the nation. I undertake to uphold the enormous trust put in our profession by the founding fathers of the nation, and carry forward our tradition of excellence and partnership in nation-building.

I would like to take this opportunity to congratulate Mr. Showkat Hossain FCA, Mr.

Mohammad Farooq FCA and Mr. Gopal Chandra Ghosh FCA on their election as the VicePresidents of the Institute. I am sure, new Vice Presidents professional competence and experience will undoubtedly accelerate our endeavours and, particularly, help me in carrying out my responsibilities in the present capacity.

I would like to share below the Action Plan for 2013, formation of Standing & Other Committees, major activities and initiatives we have undertaken in January 2013.

Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399 E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd The Institute of   Chartered Accountants  of Bangladesh  [Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)] CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh

–  –  –

I have made an elaborate Action Plan in my Speech in the last ICAB AGM held on 29 December 2013 to be implemented during this year in the best interests of our profession at

large and of the members and students in particular. The Action Plan is as under:

–  –  –

Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399 E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd The Institute of   Chartered Accountants  of Bangladesh  [Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)] CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh Major Activities in January 2013 Formation of Committees for 2013 I am pleased to inform you that the Standing and Other Committees were formed in January in accordance with the ICAB Bye Laws 2004 and have already resumed their function. I solicit your active support and encourage you to participate in all the meetings of the Committees in which you have been nominated by the Council and put your valued contribution for the betterment of the Institute.

Meeting with Professional Club Members

A meeting between ICAB team headed by myself and Professional Club Members were held on 01 January 2013 at ICAB Office, CA Bhaban, Dhaka. Professional Club members congratulated new ICAB President for 2013 and assured their all out support and cooperation to President ICAB for discharging responsibilities in his tenure. Mr. Muhammad Farooq FCA, Vice President (F&A)-ICAB, Mr. Gopal Chandra Ghosh FCA, Vice President (E&T)-ICAB and Mr. N I Chowdhury FCA, Secretary-ICAB were present from ICAB.

Professional Members including Mr. Mohammed Forkan Uddin FCA (886), Mr. Md. Fakrul Islam FCA (890), Mr. Ajit Kumar Paul FCA (908), Mr. Md. Zakaria FCA (967), Mr.

Mohammad Khairul Alam FCA (972), Mr. Md. Ashraful Azim FCA (975), Mr. Md. Yasin Miah FCA (1001) and Mr. Md. Wahid Murad ACA (1117) were present from their end. We discussed different professional issues including recently signed MoU with LGRD&C, Union Parishad Audit under Local Governance Support Project (LGSP)-II, Supervisory role of ICAB on UP Audit work, existing policy of ICAB for students’ registration under the Principals etc.





Meeting decided that ICAB will look after these issues very carefully for the greater interest of the profession.

Shahjalal Islami Bank Executives met with President ICAB

A 3-Member Shahjalal Islami Bank Ltd. Executives headed by Mr. Md. Ashraful Azim FCA, Vice President & In-Charge Risk Management Unit met with myself in ICAB Office on 01 January 2013. Other two Executives were Mr. Mostain Billah ACA, Senior Assistant Vice President and Mr. Abdullah Al-Amin ACA, First Executive Officer. They briefed me that Chartered Accountants are playing an important role in their bank and there have lot of opportunities for CAs especially newly qualified CAs to build their career in the banking sector. We discussed different issues on how professionals can contribute in the corporate sector.

Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399 E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd The Institute of   Chartered Accountants  of Bangladesh  [Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)] CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh

Courtesy Call with the Secretary, Bank and Financial Institutions Division, MOF

A 5-Member ICAB team comprising of Mr. Md. Abdus Salam FCA, President ICAB, Mr. Md.

Syful Islam FCA, Immediate Past President ICAB, Mr. Showkat Hossain FCA, Vice President –ICAB, Mr. Masih Malik Chowdhury FCA, Member Council-ICAB and Mr. N I Chowdhury FCA, Secretary-ICAB made a courtesy call with Dr. M. Aslam Alam, Secretary, Bank and Financial Institutions Division, Ministry of Finance, GoB at his office on Wednesday, 09 January 2013. ICAB team discussed different professional issues including Bank Branch Audit in different Commercial Banks, Audit fees and appointment of more Chartered Accountants in the banking sector.

Secretary, Bank and Financial Institution Division gave a patient hearing and offered his unequivocal support to Chartered Accountant professionals. He appreciated the efforts of ICAB team to bring the issues for his attention and assured his continuous support to raise ICAB’s request to relevant banking forum for implement these issues.

Meeting with Country Manager, CIMA Bangladesh

A meeting between Ms. Zareef Tamanna Matin, Country Manager, CIMA Bangladesh and ICAB Team comprised of Mr. N I Chowdhury FCA, Secretary-ICAB, Dr. Mahfuzul Hoque, Director LPD-ICAB, Mr. Mahbub Ahmed Siddique FCA, Senior Deputy Director (Technical)ICAB was held on 10 January 2013 at ICAB office, Dhaka. During discussion, ICAB team briefed CIMA Country Manager that existing ICAB Curriculum has been developed in line with ICAEW Syllabi and requested CIMA to explore some special exemption for ICAB members to attract them for CIMA membership. ICAB team also requested to reduce the pricing of CIMA gateways in the context of Bangladesh which will be more helpful for middle income group students in Bangladesh. Meeting agreed that ICAB will share its curriculum and study materials with CIMA and CIMA Bangladesh will send their study materials and magazines for ICAB library in near future.

Dhaka Regional Committee distribute blankets and warm clothes in Rangpur

Dhaka Regional Committee of ICAB distributed blankets and warm clothes among poor and needy people of Gangachra Upazilla under Rangpur District on Friday, 11 January 2013.

More than 1400 blankets and 250 warm clothes were distributed in presence of Upazilla Nirbahi Officer (UNO) and Office-in-Charge of local Police Station. Mr. Aapel Ahmed, Assistant Professor of Begum Rokeya University assisted the ICAB members of Dhaka Region with their volunteers. ICAB donated Tk.2 lacs to DRC in this purpose.

Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399 E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd The Institute of   Chartered Accountants  of Bangladesh  [Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)] CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh

SAFA Committee, Board and Assembly Meeting

A 5-Member ICAB team headed by myself participated SAFA Committee on Governmental and Public Sector Enterprises Accounting, 25th SAFA SAFA Board and 76th Assembly meeting on 12 January 2013 at Ruposhi Bangla Hotel, Dhaka. Other members of the ICAB team were Mr. Anwaruddin Chowdhury FCA, Member Council & Past President ICAB, Mr.

Md. Syful Islam FCA, Immediate Past President ICAB, Mr. AKM Fazlur Rahman FCA, Chairman, ICAB UK Chapter and Mr. Md. Nasrat Hasan, Deputy Secretary and SAFA Nodal Officer-ICAB. In the Assembly meeting, Mr. Abdul Mannan FCMA, Vice President SAFA took over the SAFA Presidency for 2013 and Mr. Subodh Kumar Agrawal of ICAI has been elected the Vice President SAFA for 2013. On behalf of ICAB, we assured our full support and cooperation to new SAFA President and hoped that under his dynamic leadership, SAFA will contribute significantly for further development of the accountancy profession in the SAARC region.

Meeting with Chairman, ICAB North American Chapter

A meeting between ICAB team headed by myself and Mr. Abdul Wahid FCA, Chairman, ICAB North American Chapter was held on 13 January 2013 at ICAB Office, Dhaka. Mr.

Gopal Chandra Ghosh FCA, Vice President ICAB, Mr. Md. Humayun Kabir FCA, Member Council & Past President ICAB, Mr. N I Chowdhury FCA, Secretary-ICAB, Dr. Mahfuzul Hoque, Director LPD-ICAB, Mr. Mahbub Ahmed Siddique FCA, Sr. Deputy Director(Technical)-ICAB and Mr. Md. Nasrat Hasan, Deputy Secretary-ICAB participated in the meeting. Mr. Wahid congratulated new ICAB President and hoped that ICAB will be able to achieve more success under new leadership this year.

During discussion, I briefed Mr. Abdul Wahid FCA, Chairman-ICAB NAC about the latest status of proposed MoU with CGA Canada and exemption offered by CGA Canada for ICAB members. About detailed discussion, Mr. Wahid thanked ICAB Council specially Mr. Md.

Syful Islam FCA, IPP-ICAB for this dedicated efforts and recommended to way forward on this matter for signing MoU.

Mr. Abdul Wahid briefed the latest status of possibility of signing MoU with Canadian Institute of Chartered Accountants (CICA) and hoped that under collective effort of ICAB Management and ICAB North American Chapter, ICAB will be able to sign MoU with CICA in near future. Meeting agreed that ICAB will take initiatives again to start discussion with CICA for possibility of signing MoU with them and ICAB Secretariat will keep update to NAC Office Bearers for any future progress regarding this matter & will give a copy to NAC Office Bearers during all future correspondence with CICA.

Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399 E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd The Institute of   Chartered Accountants  of Bangladesh  [Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)] CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh

Courtesy Call with the Executive Chairman of BOI

A 6-Member ICAB team comprising of myself, Past Presidents Mr. Anwaruddin Chowdhury FCA, Mr. Md. Humayun Kabir FCA, Mr. Md. Syful Islam FCA, Special Advisor to the Hon’ble Prime Minister Mr. Ferdous Ahmed Khan FCA, Mr. AKM Kamrul Islam FCA, Senior Member and Mr. N I Chowdhury FCA, Secretary-ICAB made a courtesy call with Mr. Syed A Samad, Ph.D., Executive Chairman, Board of Investment (BOI) in his office on 14 January 2013.

During discussion, I submitted ICAB’s written opinion on draft Financial Reporting Act (FRA) 2010 to Executive Chairman. I also briefed Mr. Samad that ICAB is going to amend ICAB CA Order 1973 to ensure more acceptability, transparency and accountability of ICAB. We confident that after restructuring of the Council, Boards and Committees through amendments of the provisions of the existing CA Order 1973, it will serve the purpose of forming FRC. Executive Secretary gave his patient hearing and thanked for submission of ICAB’s opinion on this matter. Mr. Samad informed ICAB team that draft FRA is not yet finalized since now. He also added that a small Sub-Committee headed by the Secretary, Bank and Financial Institution Division, Ministry of Finance, GoB is now reviewing this draft Act. Mr. Samad assured us that before finalization of this draft Act, said Sub-Committee will seek opinion from ICAB and ICAB will be able to submit its opinion/recommendation for inclusion in the draft FRA Act.

Courtesy Call with the Secretary, Ministry of Commerce, GoB



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