january 2016 icab n b chartered accountants (an independent member firm of baker tilly...

Monthly News Briefing from the Institute of Chartered Accountants of Bangladesh

ICABICAB NEWS BULLETINJanuary 2016

Number 315

ISSN 1993-5366

amrul Abedin FCA has taken over the charge of the President of the Institute of Chartered Accountants of Bangladesh

(ICAB) for 2016 at a formal ceremony held at ICAB Auditorium on 31 December 2015. Mr. Abedin has replaced outgoing President Masih Malik Chowdhury FCA who successfully led the Institute for the year 2015.

Three New Vice-Presidents of ICAB; Adeeb Hossain Khan FCA, Md Shaifur Rahman Mazumdar FCA and Mahmudul Hasan Khusru FCA also assumed their respective, offices.

After taking over, the new President sought cooperation and urged all to work for building image of CA profession. He reiterated his commitment to work for the development of the Institute and the profession at large. He also requested the members and employees to deploy their best efforts to bring momentum in the day to day operational works of the Institute. He urged ICAB personnel to be instrumental to execute all the activities that ICAB will take under a Strategic Plan 2016. He also hoped that ICAB employees will be more dynamic in managing their time and concentrate more for finishing assigned jobs to them efficiently.

Mr Abedin is Partner of MJ Abedin & Co, Chartered Accountant. He has been in the ICAB Council since 2013 and was Vice President in 2014 & 2015.

Expressing gratitude, the outgoing president Masih Malik Chowdhury FCA said, he is eternally grateful to the Members of Council-ICAB, Members of the Institute and the staff for providing valuable supports during his presidency in 2015. He also urged all the members to join together in affirming common interest and to cooperate with new President to successfully implement all initiatives taken by incumbent President for the benefit of the Members & ICAB. He said, pointing to the employees of the Institute, you did very good job during the year 2015 which made the year eventful.

Giving a brief introductory speech, ICAB Secretary AKM Rahmat Ullah FCA commenced the ceremony formally. He said all his colleagues are very much efficient compared to other organizations. Our efforts will be continued for benefit of ICAB. We are ready to work under the leadership of new president, he said. ICAB Vice Presidents also gave brief speech on the occasion.

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Kamrul Abedin Takes over as President-ICAB

Kamrul Abedin Takes over... President-ICAB

ASM Nayeem New SAFA Vice President

News in Brief from UK Chapter

Felicitation

ICAB Delegates Met Commerce Secretary, GoB

Meeting with SCB High Officials

Meeting between AIS Faculty... Delegation

President’s Communi-cation January 2016

SAFA Vice President ... Events, Lahore

Mahbub Ahmed Appointed... SAFA

CRC Annual Picnic 2016

CRC-ICAB Elects Chairman and Secretary for 2016

Members’ Achievement

ICAB ERP Project Updates

Campus News

Meeting with CRC Members

Congratulations!

Workshop on Efficient Project... MS Project

DRC distributed Blankets among poor

DRC Courtesy Call

1st Meeting of ICAB Working... FIs Audit

Courtesy Call on Commerce Minister, GoB

Knowledge Sharing Session... Institutions (FIs)

ICAB outgoing president Masih Malik Chowdhury FCA greets Kamrul Abedin FCA, new President with flower bouquet at a formal ceremony on Thursday, 31 December 2015 at ICAB Training Room (7th floor). ICAB Vice Presidents Md Shaifur Rahman Mazumder FCA, Mahmudul Hasan Khusru FCA, outgoing Vice President Nasim Anwar FCA and Secretary AKM Rahmat Ullah FCA also seen in the Picture

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January 2016 No. 315

ASM Nayeem FCA, Past President and Council Member of the Institute of Chartered Accountants of Bangladesh (ICAB) has been elected as Vice-President of South Asian Federation of Accountants (SAFA) for the year 2016.

Mr. Nayeem is a Partner of ACNABIN Chartered Accountants (an Independent member firm of Baker Tilly International). He is Board Member of a number of

private and joint venture companies in Bangladesh. He is a former Director of Chittagong Stock Exchange Ltd., Republic Insurance Company Ltd., Sonali Bank Ltd. and Agrani Bank Ltd. He is also a former Chairman of Bangladesh Shipping Agents Association and Port Users Forum of Bangladesh.

Nayeem is a Council Member of ICAB since1998. He is also the Chairman of Quality Assurance Board of ICAB and was Chairman of Committee on Professional Ethics & Independence of SAFA.

SAFA, an Apex Body of SAARC, is a forum of professional accountancy bodies in the SAARC Region. It is committed to position, maintain and develop the profession in its member countries and ensure its continued dominance in the world of accountancy in public interest and towards broad economic development of the region.

ASM Nayeem New SAFA Vice President

A K M Fazlur Rahman FCA, Chairmam of UK Chapter, ICAB had a meeting with CA Students in UK on 29 December 2015. In the meeting students expressed their keen interest to sit for PS Knowledge Level examinations in London Centre for May- June 2016 Session. The Chairman has already communicated this matter with the ICAB President Kamrul Abedin FCA.

UK Chapter also have obtained the study materials and suggested model past examinations question papers of last 5 years from ICAB in January 2016. These books were distributed to the course completed CA students in London. Now UK Chapter are offering tutorial helps to CA students.

Besides, AKM Fazlur Rahman had a meeting with Vimal Perira, President of ICAS (Sri Lanka) UK Chapter and Ahmed Musaamil ACA, ACCA on 7 January 2016. They had discussions on professional issues together with the possibilities of common areas to work in i.e. organising CPD seminars, workshops and

social events, etc. Expectedly, the Chairman of the ICAB UK Chapter would visit ICAB on 26 February 2016 to take up these issues with the Council and the President of ICAB.

News in Brief from UK Chapter

ASM Nayeem FCA

Felicitation

Dhaka Regional Committee (DRC)-ICAB congratulates Newly Elected ICAB President Kamrul Abedin FCA

Chittagong Regional Committee (CRC)-ICAB greets Newly Elected ICAB President Kamrul Abedin FCA with flower bouquet

Representative from the Financial Express congratulates Newly Elected ICAB President Kamrul Abedin FCA

Representatives from the Standard Chartered Bank, BD congratulate Newly Elected ICAB President Kamrul Abedin FCA

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January 2016No. 315

n ICAB delegation led by President Kamrul Abedin FCA met hon’ble Senior Secretary Hedayetullah Al Mamoon, ndc at Commerce Ministry at Bangladesh Secretariat on

17 January 2016. The call was paid to introduce the newly elected office bearers of ICAB for the year 2016.

The Secretary warmly received the ICAB delegates and wished for a very successful leadership & eventful year 2016.

Among many other issues, the ICAB delegates discussed about ICAB’s ongoing activities, professional matters, education, academic campus, etc.

The team also informed the Secretary about some points of CMA Ordinance, 1977 regarding change of the name of the

Institute of Cost and Management Accountants of Bangladesh. They placed their opinions in this regard. The Secretary gave a patient hearing to the ICAB’s submissions.

The other members of the delegation were Adeeb Hossain Khan FCA, Mahmudul Hasan Khusru FCA, Vice Presidents, ASM Nayeem FCA, Council Member & Past President and Md. Shahadat Hossain FCA, Council Member, ICAB.

ICAB Delegates Met Commerce Secretary, GoB

Standard Chartered Bank’s delegates paid courtesy call and had a meeting with ICAB President Kamrul Abedin FCA along with Vice Presidents Adeeb Hossain Khan FCA, Mahmudul Hasan Khusru FCA, Council Member Md Mahamud Hosain FCA, Past President Md Abdus Salam FCA and ICAB Secretary A K M Rahmat Ullah FCA on 5 January 2015 at ICAB Council Hall.

The SCB delegation was comprised of Imtiaz Ibne Sattar, Chief Financial Officer, Mohammod Masud Rana FCA, Financial Coordinator, Mohammad Mohiuddin Ahmed FCA, Head of Financial and Regulatory Reporting and Mohammad Monowar hossain FCA, Sr. Manager, Finance.

They discussed on various professional issues. Initially they agreed to form working group comprising members of both the organizations to foster mutual cooperation. They stressed for taking common initiatives for best professional practices in Banking sector with a view to ensure better financial management. They also stressed the issues need to be taken to share with working group formed to review the banking and financial institutions’ audit. Further they emphasized for common disclosures should be given in case of external audit for Banks. ICAB gave patient hearing to their submissions and agreed to explore common areas to deal with.


A discussion meeting between Professors of Department of Accounting & Information Systems, University of Dhaka and a high powered delegation of ICAB led by President Kamrul Abedin FCA was held on 28 January 2016 at faculty office of the Department of Accounting & Information, Systems, University of Dhaka.

Other representatives were Vice Presidents Mahamudul Hasan Khusru FCA, Past President & Council Member Muhammed Farhad Hussain FCA.

On the other hand for the Department of Accounting & Information Dr. Yousuf Kamal, Prof. Mamtaz Uddin Ahmed, Dr. Riazur Rahman Chowdhury, Dr.Mahmuda Akter, Dr. Mahfuzul Hoque, Amirus Salat and Dr. Md. Maksudur Rahman Sarker were present.

In the meeting ICAB expressed interest to develop an exemption policy for students of accounting and finance departments with a view to draw more students from these departments into studying Chartered Accountancy. ICAB President informed that ICAB has developed its curriculum in line with the curriculum of the Institute of Chartered Accountants in England & Wales (ICAEW).

ICAB Vice President Mahamudul Hasan Khusru elaborated the relationship between ICAB & ICAEW. He proposed to create a working Committee with AIS, DU & ICAB to finalize a exemption policy with ensuring maximum benefit for both the Institutes. Mr. Farhad Hussain explained the shortfall of Professional Accountants. He also mentioned that the pass rate of the students of AIS, DU is higher than other Institutes.

Prof. Mamtaz Uddin Ahmed FCMA said ICAB should increase exemptions for AIS students to attract in studying CA.

The next meeting will be held on the 3rd week of February. All members were agreed on principle that the TOR, Committee formation and the nomination of members for the joint meeting will be sorted out in the next meeting.

Meeting between AIS Faculty and ICAB Delegation

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Assalamu Alaikum and Greetings to you all,

Dear members, I heartily thank you for re-electing me for another 3 years term as a Member of Council, ICAB. I feel honored to extend my gratitude to the Council Members for electing me as President 2016 and giving me the opportunity to lead the Institute and bestowing this honour and reposing trust upon me.

I would like to take this opportunity to congratulate Mr. Adeeb Hossain Khan FCA, Mr. Md. Shaifur Rahman Mazumder FCA and Mr. Mahmudul Hasan Khusru FCA on their election as the Vice-Presidents of the Institute, I welcome you my teammates. I believe your rich experience; professional acumen and abilities would immensely benefit the members at large and escalate the Institute to a new height of excellence.

Dear fellow fraternity, I am confident in shouldering the leader’s responsibilities and would be able to lead the Institute altogether. Undoubtedly, we believe that the Institute has made tremendous advancement by the versatile

contributions and ceaseless hard works of our Past Presidents and Councilors. Our heartfelt thanks & gratitude are owed to our Visionary Leaders.

In tandem of ages ICAB has made these advancements. I believe the path was not even, it had faced many challenges. This is high time once again to prove that CAs are instrumental in problem solving. Hope that this month we will be able to prepare a Strategic Plan 2016 by evaluating our strengths, weaknesses and opportunities encompassing the threats.

As the President of ICAB, I urge my dear fellow fraternity & colleagues, to work shoulder to shoulder for aligning the professional interest and to face the challenges ahead. Insha Allah, we would be able to turn the challenge to an opportunity.

I take this opportunity to update you on some major activities accomplished and the initiatives undertaken during the Month of January 2016.

Assumed the office as President-ICAB

On the very first working day of the year 2016, I assumed office as President of ICAB. Under the new Council headed

President’sCommunicationJanuary 2016

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January 2016No. 315

by me, we are preparing our Action Plan 2016. Already the spade work has begun. Dear members, I am seeking your cooperation in preparing our discourse of actions. I reiterate our commitment to work with utmost sincerity with due passion.

Formation of Committees for 2016

I am pleased to inform you that the Standing and Other Committees were formed in January 2016. The committees will resume functions soon. I solicit coperation of the chairman and the members of the committee and their active support. I urge you to participate in all the meetings of the Committees. Please put your valued contribution for the greater interest of the profession, it is my earnest appeal.

Courtesy Call on Commerce Minister, GoB

Two of our Vice Presidents, Mr. Adeeb Hossain Khan FCA, Mr. Mahmudul Hasan Khusru FCA and the Council Member & Past Presidents Mr. Md. Humayun Kabir FCA and Ms. Parveen Mahmud FCA along with myself paid a courtesy call on hon’ble Commerce Minister Mr. Tofail Ahmed, MP at his office, Bangladesh Secretariat on 26 January 2016. The call was made to introduce the newly elected office bearers of ICAB.

The Minister warmly received us and congratulated ICAB new office bearers. He wished ICAB would be able to provide more and more professional services to the government and the people for strengthening the economy.

Among many other issues, we also discussed about ICAB’s ongoing activities, professional matters, education, academic campus, etc and invited the Minister to be present in ICAB-CAPA Roundtable on 4 February 2016 as the Chief Guest. The Minister

accepted our invitation cordially. The meeting was expectedly fruitful.

Meet with Commerce Secretary, GoB

Earlier, an ICAB delegation led by myself met hon’ble Commerce Secretary Hedayetullah Al Mamoon, ndc at Bangladesh Secretariat on 17 January 2016. It was a courtesy call on Commerce Secretary and introductory meeting of ICAB newly elected office bearers. We were warmly received by the Secretary. On the sideline talks, we discussed about some points of CMA Ordinance, 1977 regarding change of the name of the Institute of Cost and Management Accountants of Bangladesh came in. The Secretary gave a patient hearing to our submission.

The other members of the delegation were Mr. Adeeb Hossain Khan FCA, Mr. Mahmudul Hasan Khusru FCA, Vice Presidents, Mr. ASM Nayeem FCA, Council Member & Past President and Mr. Md. Shahadat Hossain FCA, Council Member, ICAB.

Teachers’ Discussion Meeting

1st meeting of Teachers’ discussion of this year was held on 30 January 2016 at ICAB Academic Campus. Different issues like students, faculties, study materials, classroom facilities, syllabus, library facilities, CA firms, Examinations etc. were discussed in the meeting. Our Vice Presidents Mr. Adeeb Hossain Khan FCA and Mr. Mahmudul Hasan Khusru FCA delivered directives and constructive suggestion to the Teachers in their speeches. I am happy to see that a good number of ICAB Teachers were present in the meeting. In my speech, I congratulated the faculty members of the Institute and expressed gratitude for their passion and dedication in teaching our CA students with their knowledge and wisdom. The meeting decided that the findings of

this discussion would be taken seriously & problems solving actions will be taken soon.

Meeting between AIS Faculty and ICAB delegation

A discussion meeting between Faculty of Department of Accounting & Information Systems, University of Dhaka and a high power representative of ICAB led by myself was held on 28 January 2016 at office of the faculty of the Department of Accounting & Information, Systems, University of Dhaka.

Other representatives of ICAB were Vice President Mr. Mahamudul Hasan Khusru FCA and Past President & Council Member Mr. Muhammed Farhad Hussain FCA.

Dr. Yousuf Kamal, Mamtaz Uddin Ahmed, Dr. Riazur Rahman Chowdhury, Dr.Mahmuda Akter, Dr. Mahfuzul Hoque, Mr. Amirus Salat and Dr. Md.Maksudur Rahman Sarker of Faculty of AIS, DU attended the meeting.

In response to Prof. Mamtaz Uddin Ahmed FCMA’s proposals we expressed interest to develop an exemption policy for students of accounting with a view to encourage more students from these departments into studying Chartered Accountancy. We also informed the Faculties that ICAB has developed the curriculum of Chartered Accountancy in line with the curriculum of the Institute of Chartered Accountants in England & Wales (ICAEW). I am extremely grateful to the AIS department for arranging such meeting and hope our joint endeavor would definitely bring fruitful results.

Knowledge Sharing Session in relation to Audit of Banks and Financial Institutions (FIs)

On 23 January 2016, a Knowledge Sharing Session on audit of Banks and Financial Institutions was held which was largely attended by the Members

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from Audit Firms listed by Bangladesh Bank for bank audit.

The session was structured in line with a refresher course covering the thought that participants should have detailed knowledge and understanding of critical matters related to audit of banks and FIs.

I would convey my gratitude and felicitation to all the resource persons; Mr. Sabbir Ahmed FCA, Mr. Md. Raghib Ahsan FCA, Mr. Md. Jahidur Rahman FCA, Mr. Mohammed Hamidul Islam FCA, Mr. Ashraf-Uz-Zaman Ali ACA , Ms. Naima Nazneen Rikta, Deputy Director of Department of Offsite Supervision(DOS) of Bangladesh Bank who had really showed excellent professional acumen and skills in deliberations and proceedings of lectures.


Standard Chartered Bank’s delegates paid a courtesy call and had a meeting with me along with ICAB Vice President Mr. Adeeb Hossain Khan FCA, Mr. Mahmudul Hasan Khusru FCA, Council Member Mr. Md Mahamud Hosain FCA and Past President Mr. Md Abdus Salam FCA on 5 January 2015 at our office.

The SCB delegation comprised of Mr. Imtiaz Ibne Sattar, Chief Financial Officer, Mr. Mohammod Masud Rana FCA, Financial Coordinator, Mr. Mohammad Mohiuddin Ahmed FCA, Head of Financial and Regulatory Reporting and Mr. Mohammad Monowar hossain FCA, Sr. Manager, Finance.

The delegation discussed about various professional issues. It agreed to form a working group comprising members from both the organizations to foster mutual cooperation, to take common initiatives for best professional practices in banking sector with a view

to ensure better financial management, and to share knowledge & ideas with the working group formed for review of the banking and financial institutions’ audit. Further, delegation emphasized for common disclosures in case of external audit for Banks. We gave patient hearing to their submissions and finally agreed to explore common areas to deal with.

Workshop on Efficient Project Management Using MS Project

ICAB ICPE organized a 2-day long workshop on Efficient Project Management Using MS Project at 7th floor, CA Bhaban where the resource person was Mr. Shahid Reza, Chief Knowledge Officer, Day Spring and Co-Facilitators were Mr. Md. Anowar Hossain Fakir and Mr. AZM Akhlaqur Rahman, BSc Engineers (BUET), Robi Axiata Limited. The workshop covered important topics & features regarding project management. It would definitely benefit our members. Thanks to the resource person and the facilitators for responding to our call.


I had a meeting with Chittagong Regional Committee (CRC) members Mr. Md. Kamrul Hasan FCA, Chief Financial Officer, KDS Garments ltd and Mr. Imran Abu Hasan FCA, DGM, KDS Steels Ltd at CA Bhaban, Dhaka on 13 January.

The CRC delegation discussed about different professional matters including organizing CPD seminars in Chittagong which were previously held in Dhaka, holding of CRC Annual General Meeting, installation of Bio-metric machine in CRC Library, holding of at least one full Council Meeting in Chittagong, inclusion of Chairman & Secretary of CRC as Ex-officio members in ICAB’s different committees, conducting professional

examinations in Chittagong under CRC independently, etc. I assured them that we’ll look into these matters on priority basis, through Council.

DRC Courtesy Call

Members of Dhaka Regional Committee (DRC) paid a courtesy call on 4 January to congratulate me along with ICAB Vice Presidents Mr. Adeed Hossain Khan FCA and Mr. Mahmudul Hasan Khusru FCA. The Members of DRC assured me of their all out support for initiatives called for the betterment of CA profession. Dear Members of DRC, please accept my special gratitude and felicitation for your compliments.

Meetings of Council and Standing & Non-standing Committees

The following meetings of the Council, Standing and Non-standing Commit-tees of ICAB were held during the month of January 2016:

Standing Committees:

- 1st Council Meeting was held on 12 January 2016 at 5:00 pm.

Non-standing Committees:

- 8th Member Sub-Committee meeting of the Council was held on 07 Janu-ary 2016 at 6:00 pm.

- 5th Member Sub-Committee meeting of the Council was held on 11 Janu-ary 2016 at 6:00 pm.

Once again I seek your cooperation and pray to Almighty Allah that our way forward to progress be smoother in the days to come.

Gratitude & best regards!

Kamrul Abedin FCAPresident

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January 2016No. 315

n ICAB Team headed by A S M Nayeem FCA, Member Council and Past President of ICAB and

Vice President of South Asian Federation of Accountants (SAFA) joined the SAFA Committee, Board & Assembly meetings, panel discussion and SAFA BPA Awards Ceremony held during 28 to 30 January 2016 in Lahore, Pakistan. The other ICAB Participants were Dewan Nurul Islam FCA, ICAB Council Member and Member of the SAFA ITAG Committee and Mahbub Ahmed Siddique FCA, ICAB Director Technical and Assistant Executive Secretary to SAFA Vice President for the year 2016.

ICAB Delegates actively participated in all the SAFA Committee meetings held therein while A S M Nayeem FCA Chaired the SAFA Committee on Professional Ethics and Independence. He also attended in Panel Discussion on the theme ‘Role of Accounting Profession: Bringing South Asia Together’ as one of the panelists.

The key decisions of SAFA Improvement in Transparency, Accountability and Good Governance (ITAG) Committee are fixation of schedule and relevant activities for SAFA BPA events 2015, modification in existing SAFA BPA Criteria and deduction of marks as

penalty for any delay in submission of marks given by member bodies, etc. The Committee on Quality Control took the decision to update the status of quality assurance activities of SAFA member bodies mainly. The Committee on Governmental and Public Sector Enterprises Accounting decided to hold an international workshop on public sector reporting in Sri Lanka supported by any donor agencies in October 2016.

SAFA Committee on Professional Ethics and Independence shared the activities accomplished including implementation status of the decisions of the Committee

during the year 2015 and decided about the ongoing and upcoming activities for the year 2016. The performance achieved and the report of the meeting of this committee were highly appreciated by the Board. The major performances of the committees are:

● Development and timely submission of Five Case Studies on Ethical Dilemmas-Professional Accountants in Public Practice.

● Preparation and duly submission of Summary Report on Disciplinary Proceedings and Actions taken by each SAFA Member Body in the year 2014, particularly with regard to non-compliances of the Code of Ethics.

● Development and submission of a Questionnaire regarding "survey on compliance of IESBA Code of Ethics by Professional Accountants in Practice in the countries of SAFA member bodies, with regard to Independent-Audit and Review Engagement" approved by the Committee in its meeting held on 28 Jan 2016; the survey was scheduled to be accomplished by 30 April 2016.

● Joint Program of SAFA and IESBA/IFAC on Code of Ethics for

SAFA Vice President Participated in SAFA Events in Lahore

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SAFA Delegates during SAFA 42nd Board Meeting

ASM Nayeem FCA is seen as panelist at a Panel Discussion on Role of Accounting Profession Bringing South Asia Together

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Arup Chowdhury FCA and Md. Kamrul Hasan FCA have been elected as the Chairman and the Honorary Secretary of CRC-ICAB respectively for the year 2016.

Other members of CRC-ICAB Committee are Ahmad Dawood FCA, Imran Abu Hasan FCA and Mohammed Reazul Kabir FCA.

The Committee has been formed in its meeting held on December 30, 2015 at the conference Hall of ICAB-CRC under the Chairmanship of Mohammad Saif Uddin FCA.

Mr. Arup became an Associate Member of ICAB in 2005 and a Fellow in 2012. Currently, he is a partner of Ahmed Zaker & Co., Chartered Accountants. Earlier, he was elected as Member of CRC for 2013-15 and served the Committee as Honorary Secretary in 2013.

Mr. Hasan became an Associate Member of ICAB in 2005. Currently he

is working as Chief Financial Officer in KDS Group of Companies.

CRC-ICAB Elects Chairman and Secretary for 2016

CRC Annual Picnic 2016ICAB Members, CRC staff, their spouses and children participated in the Annual Picnic-2016 of Chittagong Regional Committee (CRC)-ICAB on January 22-24, 2016 at Best Western Plus Heritage, Kolatoli, Cox’s bazar, Chittagong

Picnickers enjoyed the beauty of the Picnic spot, CRC-ICAB arranges the picnic every year.

Arup Chowdhury FCA

Mahbub AhmedSiddique FCA

Md. Kamrul Hasan FCA

Professional Accountants by August 2016 in Nepal

● New Project Re Study on the level and nature of fees of the Professional Accountants in Public Practice in the SAARC region-A Way Forward– Target Date: 31 August 2016

● New Project Re Study on Marketing of Professional Services by Professional Accountants in Public Practice -A Way Forward - Target Date: 30 November 2016

● Submitting Comments on IESBA Exposure Drafts on scheduled time during the year 2016

Besides, in BPA Award Ceremony, Bangladeshi organizations announced a number of times for winning awards including the overall winner (LankaBangal Finance Limited) that conveyed positive impression on quality of financial reporting and annual reports in Bangladesh.

Meeting of SAFA Committee on Professional Ethics and Independence Chaired By ASM Nayem FCA

Mahbub Ahmed AppointedAsst. Secy. to Vice President, SAFA

Mahbub Ahmed Siddique FCA (Enrolment No. 1020), ICAB Technical Director has been appointed by the Council-ICAB as Assistant Executive Secretary to the Vice President of South Asian Federation of Accountants (SAFA) for the year 2016 concurrent to his current responsibility in ICAB. He shall take over as Executive Secretary with the Vice President assuming his charge of office of SAFA President for the year 2017.

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January 2016No. 315

ICAB ERP Project Updates

Md. Sayeed Ahmed FCA (Enrollment No. 811) has recently been appointed as the Deputy Managing Director of Pubali Bank Limited.

Before assumption to his new position, he was serving the bank as Chief Financial Officer. He joined the bank in 2007 as a Financial Analyst.

Associate Member of Chartered Institute of Management Accountants (CIMA), UK and a Chartered Global Management Accountant, he is also a teacher of The Institute of Chartered Accountants in England and Wales (ICAEW) advanced level subjects and a resource person in the coaching classes of ICAB.

Members’ AchievementSayeed Ahmed Appointed as Deputy Managing

Director of Pubali Bank Limited

Md. Sayeed Ahmed FCA

Ataur Rahman Belal FCA (Enrollment No. 678), Ph.D (UK) has been appointed as Head of Accounting Department of Aston Business School of Aston University, Birmingham, UK. Aston Business School is one of the leading triple accredited business schools in the UK.

Currently, he is also Joint Editor of Advances in Environmental Accounting and Management and an Associate Editor of Accounting Forum. Mr. Belal obtained PhD from the University of Sheffield, UK. His several works have appeared in the Journals of Business Ethics, Accounting, Auditing and Accountability Journal, Accounting Forum, Employment and Society, and Critical Perspectives on Accounting. He has also acted as visiting faculty at the Universities in France, Germany and Colombia.

Ataur Rahman Appointed as Head of Accounting Dept. of Aston Business School, UK

Ataur Rahman Belal FCA

Financial System

Members Database

CA Firms

Database

Students Information

Campus Activities

e-libraryand Library

Management

Exam System

ICPETraining &Workshop

CPDInformation &

OnlineParticipation

Standing & Non Standing

Committee Activities

HRM

ICABERP

System

After a series of discussion sessions, analysing and reviewing the SRS (System Requirements Specification) documents, the 1st phase of ERP has been finalized. On 23rd January 2016 Secretary-ICAB AKM Rahmat Ullah FCA put signature on the SRS documents. The 1st phase of ERP project is comprised of key features i.e. Honorable Member’s database development & related matters, CA firms database development and related matters, CA students database development and related matters, ICAB website reconstruction and developing database driven web portal, CPD database design and development, online CPD participation etc.

ERP (Enterprise Resource Planning) system would bring ICAB’s information and operational services under a full-fledged integrated digital system. The ERP system is being developed in (05) five phases and 1st phase of ERP project is in progress.

ICT Committee of Council-ICAB, ERP Steering Committee, IT Department as well as ERP Implantation Team are relentlessly working to develop and implement the ERP system within shortest period of time. IBCS – PRIMAX Software (Bangladesh) Ltd is performing the developing task of the ERP Project of ICAB. The diagram shows the areas ERP Covers

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ICAB Academic Campus NewsThe Pre-Examination Classes for Professional Stage-Knowledge Level (13th Batch, Sections: A-L) have been started from Sunday, 06 December 2015 for Examination Session: May-June 2016. The session will continue up to 27 February 2016. There are 721 students with 150 teachers are for the Session of December 2015-February 2016.

As a result, the cumulative number of participating students of ICAB under new curriculum has become 10,197 till January 31, 2016.

The Special Classes for the Students of Professional Stage-Knowledge Level for Examination Session: May-June 2016, who were engaged in Union Parishad Audit Works and staying outside Dhaka, who missed the schedule of classes due to unavoidable circumstances, will start from Tuesday, 01 March 2016. The students will have to enroll/ register their names on or before 15 February 2016, for joining the session at ICAB New Academic Campus.

On the other hand, a-new session for the students of Professional Stage- Application Level (12th Batch) & Advanced Stage (11th Batch) will commence from Tuesday, 01 March 2016 at Campus. A Notice has already been issued in this regard, and all concerned students are advised to enroll the classes by 24 February 2016, and join in accordingly at Campus.

By this time, the newly elected Vice President (E&T)-ICAB, Mahmudul Hasan Khusru FCA and Member Council-ICAB, Mostafa Kamal FCA have visited the ICAB Academic Campus on Friday,15 January 2016, during the class-hour at morning shift. They have participated in a close meeting with the teachers and employees of campus, to know about the progress and requirements.

ICAB President Kamrul Abedin FCA, Vice President (T&R) Adeeb Hossain Khan FCA and Vice President (E&T) Mahmudul Hasan Khusru FCA have visited the ICAB Academic Campus on Sunday,17 January 2016, during the class-hour in the evening shift. They met the faculty members, to know about the improvement areas which are needed to make the campus services, environment and activities even better. They also physically observed the campus, and advised to make identical arrangements for classes.

Moreover, a-Teachers’ Discussion Session with faculties of the Professional Stage (Knowledge & Application Levels) and Advanced Stage held was on 30 January 2016 at ICAB Academic Campus. 196 faculties were invited and 79 teachers attended the session. The teachers exchanged their views and ideas, thoughts and problems regarding the Academic Campus, CA firms, on-going education and examination matters for further improvement to support the students’

overall growth and achievement with the office bearers and member councils of the Institute for strengthening the quality of the students as well as CA Profession.

The session was chaired by Kamrul Abedin FCA, President of ICAB, and moderated by Mahmadul Hasan Khusru FCA, Vice President (E&T), ICAB. Amongst other Vice President (T&R), ICAB, Adeeb Hossain Khan FCA, and Member Council-ICAB, Md Mahamud Hosain FCA, were also present in the session.

The President of ICAB, Kamrul Abedin FCA, welcomed all the teachers and sought their full support and cooperation to discharge his responsibilities in the year 2016, for the greater interest of Bangladesh CA Profession. He also stated, ICAB has also arranged such programme before where teachers have been given the option to exchange their views, ideas and come up with constructive suggestions to improve the quality of ICAB’s education systems. Then he requested the teachers to submit their valuable recommendations and suggestions for the betterment of the profession in the session.

The Vice President (T&R) of ICAB, Adeeb Hossain Khan FCA, pointed out that teachers should give effort to develop students’ quality and also to motivate them toward studies for success in their examinations. He added that the Institute demands quality input to meet-up the requirements of ICAEW learning process and environment. He requested teachers to find and improve the areas which are needed to make the services, environment and activities better. He thanked the teachers for doing the noble services to the Institute and making the basic resources for the profession.

The Vice President (E&T)-ICAB, Mahmudul Hasan Khusru FCA,

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January 2016No. 315

Resource Persons: ICAB Academic Campus (December 2015-February 2016)Name of Resource Persons(Sections- A-L of PS-KL-13th Batch)

Mr Mohammed Tofazzul Hussain FCAMr Abdullah-Al-Mamun FCAMr Kamruzzaman FCA Mr Kutub Uddin Ahmad FCA Mr Nirmol Chandra Sarker FCA Mr Anup Kumar Mukherjee FCA Mr Mahbub Alam FCA Mr Uttam Kumar Saha FCA Mr Md Mahamud Hosain FCAMr Jone Kumer Gupta ACA Mr Md Amirul Islam FCAMr Abdullah-Al-Mahmud FCAMr Md Raghib Ahsan FCAMr Gopal Chandra Ghosh FCAMr Muhammed Moshiur Rahman FCAMr Faker Ahmed FCAMr Md Ziaul Alam ACAMr Mohammad Showket Akber FCAMr Masud Khan FCA-India (GT)Mr Muhammed Forkan Uddin FCA Mr Zakir Hossain FCA Mr Md Din Islam Miah FCAMr Yasin Miah FCA Mr Mohammad Abdul Matin

Mr Mohammed Sabir Ahmed FCAMr Mohammed Zakaria FCAMr Mohammad Redwanur Rahman FCA Mr Md Abu Bakar FCAMr Masud Parvez FCAMr Mohammad Salahuddin Chowdhury FCAMr Shankar Chandra Karmaker FCAMr Sujan Kumar Saha ACAMr Mohammad Abdul Ohab Miah FCAMr Md Jasim Uddin FCAMr Imtiaz Lutful Baset FCAMr Md Selim Reza FCAMr Palash MollickMr Md Mahsudur Rahman FCAMr Md Fokrul Islam FCAMr Shib Pada Dey FCA Mr Shekhar Kumar Halder FCAMr Shaheduzzaman Choudhury FCAMr Shahriar Istiaq Halim FCAMr Sayeed Ahmed FCAMr Mahmudul Hasan Khusru FCA Mr Md Mohiuddin Ahmed FCAMr Md Golam Kibria FCAMr Abdullah Al Yousuf (GT)Mr Shamim-Al-Mamun FCAMr Md Ebadat Hossain Bhuiyan FCA

Mr Ajit Kumar Paul FCA (GT)Mr Muhammad Aminul Hoque FCAMr Sk. Md Tarikul Islam ACAMr Bibhuti Bushan Biswas FCAMr Sandip Halder FCAMr Md Lutfar Rahman ACA Mr Md Nasir Uddin ACAMr Ranjan Kumar Bhowmik FCMA (GT)Mr Rakesh Saha FCAMr Wahid Murad FCAMr Tanvir Hasan ACAMr Nazmul Hussain Siddique ACAMr Shah Md Mohin Uddin ACAMr S M Ashfaqur Rahman ACAMr Md Saiful Hasan ACAMr Anup Kumar Sarker ACAMr Mohammad Aslam FCAMr K M Atiqul Islam ACAMr Masud Bin Majid FCAMr Md Noor-Ul-Alam ACAMr Md Jehad Uddin (GT)Mr Shadhan Chandra Das FCADr Jakerul Abedin (GT)Mr Md Abdullah-Al-Amin ACAMr MAKH Hasif Sowdagar FCAMr Md Amran Hossan ACA

expressed that today’s student is future member of the institute as well as leader of the profession. He added that it is indeed the demand of the profession today to produce world class member in the institute to face the challenges of global competition. He encouraged the teachers for students' proper learning and assured that all assistance would be ensured for the benefit of students. He encouraged all the teachers to feel free and submit their opinions for the betterment of the profession. Then he listened to the feed-back session, as moderator amongst the teachers. The teachers spoke and submitted their proposals. The Vice President (E&T)-ICAB overwhelmingly expressed his contentment about the number of

attendance and highly appreciated teachers for their active and spontaneous participation in the session. He offered to arrange more discussion sessions with teachers and students from time to time. He requested the teachers to create awareness among the students regarding importance of the classes and to be regular in those. He added that the Institute has initiated many efforts to strengthen the Profession. He told that the in-charge of the campus always keeps him updated about all its activities.

Afterwards the teachers recommendation of the session were taken for immediate implementation as per instruction of the President-ICAB.

The Chair of the Session and President of ICAB, expressed his satisfaction and gratitude for spontaneous opinions of the teachers for the betterment of the education in CA Profession. He requested the teachers, for more recommendations. At last the session ended with exchanging thanks and good wishes to and from the chair.

The Programme was organised by the Additional Director & the Team at ICAB Academic Campus under the supervision of the Vice President (Education & Training)-ICAB, with the consent and guidance of the Chairman of Board of Studies-ICAB, ABM Azizuddin FCA & President- ICAB, Kamrul Abedin FCA.

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Announcement(Classes of Next Session)

The New Session (March-May 2016) for the Students of Professional Stage (Knowledge & Applications Levels) and Advanced Stage will start from Tuesday, 01 March 2016 at ICAB New Academic Campus, 51-53, Kazi Nazrul Islam Avenue, Kawran Bazar Commercial Area, Dhaka-1215. A Notice has already been issued in this matter, and all the concerned students are advised to enroll the classes by 24 February 2016, and join the session accordingly.

Source: ICAB Campus

A delegation of Chittagong Regional Committee (CRC) comprising Md. Kamrul Hasan FCA, Chief Financial Officer, KDS Garments ltd and Imran Abu Hasan FCA, DGM, KDS Steels Ltd met ICAB President Kamrul Abedin FCA at CA Bhaban, Dhaka on 13 January. The delegation congratulated Mr. Kamrul for his being elected as President of ICAB 2016 with a flower bouquet. ICAB President also received them with flower bouquet as newly elected CRC Members.

The delegation discussed about different professional matters including organizing CPD seminars in Chittagong which were held in Dhaka, holding of CRC Annual General Meeting, installation of Bio-metric machine in CRC Library, holding of at least one full Council Meeting in Chittagong, inclusion of Chairman & Secretary of CRC as Ex-officio members in ICAB’s different committees, conducting professional examinations in Chittagong under CRC independently, etc.


Mr Md Humayan Kabir FCAMr Md Abdul Ahad ACAMr Chitta Ranjan Halder FCAMs Tasnuva Ahmed ACAMr Mahmudur Rahman ACAMr Ruhul Amin ACA Mr Zafar Ullah Khan FCAMr Mahbub Alam ACAMr Muhammad Shariful Islam Shiplu FCA Mr G M Latiful Quader FCA Mr Mohammed Ariful Hoque FCAMr Mohammad Shibbir Hossain FCA Mr Md Shihabur Reza ACAMr Sajib Sarkar ACA Mr Parymal Kumer Sarker ACAMr Md Shahariar Ahmed ACA Ms Mashruna Alam Chowdhury ACAMr Mohammad Monowar Hossain FCA Mr K S Omar Faruk FCA Mr Khairul Basher FCA Mr Snehasish Barua FCAMr Syed Mohammed Kowser Hossain (GT)Mr Md Ruhul Quddus ACAMr Md Al- Amin Siddiki FCA Mr Md Jamal Uddin ACAMr Md Kamruzzaman ACAMr Md Tareq Kamal ACAMr Mohammad Mazharul Haque FCAMr Md Mahbub Hasan ACAMr Sheikh Tareq Zahir FCAMs Farjana Yeasmin ACAMr Md Reajul Islam FCAMr Md Abdus Satter Sarker ACAMs Sharmina Tasneem FCAMr Md Zahurul Islam ACAMr AHM Ariful Islam ACAMr Mohammad Rostam Hosain ACAMr Md Kishlur Rahman FCAMr Obaidur Rahman FCA Mr Muhammad Kamruzzaman ACAMr Md Akber Hossain Khan ACA Mr Md Bani Amin ACAMr Faruq Ibn Hossain ACA Mr Ramdas Howlader FCADr ASM Hossain Tayiab FCAMr Md Razib Hossain ACA Mr Shyamal Krishna Roy FCA

Mr Rajesh Kumar Yadav FCAMr Mohammad Aminul Islam ACAMr Afratul Kawsar ACAMs Naima Sultana ACAMr Amiya Bhousan Bhowmik FCAMr Sazib Kumar Saha ACAMr Dipok Kumar Roy FCAMr Anowar Hossain ACAMr Md Arshadul Kabir ACAMr Shibly Ahmed FCAMr Abu Hena Mustafa Kamal ACAMr Tariquzzaman Khan FCA Mr Md Mohayminul Islam Miltan Bepari FCAMr Md Anisur RahmanMr Muhammad Abu Hanif Meah ACAMr Shafiq Musharrof FCAMr Md Abdur Rouf FCAMr Arif Hossain ACAMr Mohammad Mohasin Khan ACAMr Amanat Ahmed ACAMr S M Rahmatul Mujeeb FCAMr Md Fuad Uddin Khan FCAMr Md Ali Akther Rezvi FCAMr Md Shariful Islam ACAMr Badal Chandra Rajbangshi FCAMr Mohammad Fakhrul Alam Patwary ACAMr Asfaq-e-Azam

Visiting Faculties(for Ongoing Session)

Name of Visiting FacultiesMr. Kamrul Abedin FCA Mr. Mahmudul Hasan Khusru FCAMr. Adeeb Hossain Khan FCAMr. ABM Azizuddin FCAMr. Anwaruddin Chowdhury FCAMr. A F Nesaruddin FCAMr. Gopal Chandra Ghosh FCA Mr. Mostafa Kamal FCAMr. Md Mahamud Hosain FCA Mr. Md Amirul Islam FCAMr. Sabbir Ahmed FCA (E-770) Mr. Mohammad Mehdi Hasan FCA Mr. Ajit Kumar Paul FCADr. Jakerul Abedin Mr. Md Jehad Uddin

Mr. Syed Mohammed Kowser HossainMr. Sheikh Noor Mohammad Mr Abdullah- Al Yousuf Mr. A H Mostafa Kamal Khan

13

January 2016No. 315

Congratulations!Admission as Fellows

The following members have been admitted as Fellows of the Institute with effect from the dates mentioned against respective names:

Name Effective DateMr. Zahir Ahmmad FCA (1165) 26 October 2015Flat # G9, 6/3 (Excelsia Park)SegunbagichaDhaka-1000

Mr. Md. Mijanur Rahman FCA (1168) 21 November 2015General Manager, A & FDada Group of IndustriesJamuna Fulture ParkKA-244, Progati SaraniBaridhara, Dhaka-1229

Mr. Md. Abu Kawsar FCA (1202) 05 December 2015Empori Financial CentreLevel-13, Plot-6, Road # 93North Avenue, Gulshan-2Dhaka-1212

Permission to Start PracticeThe following member has been permitted to Start Practice as Public Accountant with effect from the date mentioned against his name:

Name Effective DateMr. Md. Mostain Billah FCA (1028) 23 December 2015ProprietorMostain Billah & Co.Chartered AccountantsAli Bhaban (2nd Floor-B)92 Kazi Nazrul Islam AvenueKawran Bazar, Dhaka-1215

ICAB ICPE organized workshop on Efficient Project Management Using MS Project at 7th floor, CA Bhaban. The workshop spanned for two days on 29 -30 January 2016. The course contents covered basics on project management, planning project, schedule, task work, etc. The resource person of the workshop was Shahid Reza, Chief Knowledge Officer, Day Spring and Co-facilitators were Md. Anowar Hossain Fakir and AZM Akhlaqur Rahman, BSc Engineers, BUET, Robi Axiata Limited.

Workshop on Efficient Project Management

Using MS Project1st Meeting of the ICAB Working Group for Banks and Finanancial Institutions (FIs) Audit was held on 11 January 2016 at CA Bhaban, Dhaka. In the Chair of Sabbir Ahemed FCA, the meeting discussed about organizing workshop for practicing members involved in Bank audit and to share critical matters in audit of banks and Financial Institutions (FIs).

ICAB President Kamrul Abedin FCA, Md. Raghib Ahsan FCA, Md. Jahidur Rahman FCA, Mohammed Hamidul Islam FCA and Muhammad Aminul Hoque FCA took part in the meeting.

1st Meeting of ICAB Working Group for Banks

and FIs Audit

Source: ICAB Secretariat

DRC distributed Blankets among poor

The Dhaka Regional Committee of ICAB distributed warm clothes among the cold hit distressed people in Itna area under Kishoreganj on 8 January 2016. ICAB President Kamrul Abedin FCA and Secretary AKM Rahmat Ullah FCA along with the Members of DRC posed for photograph shortly before the team left the Institute for Itna with warm clothes.

DRC Courtesy Call Members of Dhaka Regional Committee (DRC) paid a courtesy call on President on 4 January and congratulated him with flower bouquet. The Members assured of all out supports to initiatives for the betterment of CA profession. They also greeted ICAB Vice Presidents Adeeb Hossain Khan FCA and Mahmudul Hasan Khusru FCA.

14


Published by the Editorial Board of the Council, The Institute of Chartered Accountants of Bangladesh (ICAB)100 Kazi Nazrul Islam Avenue, Dhaka 1215; Tel. 9117521, 9112672, 9115340 , 9137847 Fax: +880-2-9125266, E-mail: [email protected], Website: www.icab.org.bd

Chittagong Regional Committee: Chairman Mr. Mohammad Saif Uddin FCA, HBFC Building (3rd Floor), 1/D Agrabad Commercial Area, Chittagong, Bangladesh, Tel: +880-31-724674, Fax: 880-31-2523579, E-mail: [email protected] Chapter: Chairman Mr. AKM Fazlur Rahman FCA, 77, Valleyfield Road, Streatham, London SW 16 2HX UK, Tel: +44 20 86822905, Fax: +44 2087676097, E-mail: [email protected] American Chapter: Chairman Mr. AKM Asaduzzaman FCA, 54 Pharmacy Avenue, Scarborough, ON M1L 3E5, Canada, Tel: +41 64395557, E-mail: [email protected]

Knowledge Sharing Session on Audit of Banks and

Financial Institutions (FIs)

A Knowledge Sharing Session in relation to audit of Banks and Financial institutions held at ICAB on 23 January 2016. ICAB President Kamrul Abedin FCA inaugurated the session. It was facilitated by Sabbir Ahmed FCA, Md. Raghib Ahsan FCA, Md. Jahidur Rahman FCA, Mohammed Hamidul Islam FCA, Ashraf-Uz-Zaman Ali ACA and Deputy Director of Department of Offsite Supervision (DOS) of Bangladesh Bank Naima Nazneen Rikta. A good number of ICAB Members from Audit Firms listed by Bangladesh Bank participated in the Knowledge Sharing Session.

The session was intended for partners and managers of Audit Firm who are actively involved in audit of banks and financial institutions. The session was structured as a refresher course for the participants to have detailed knowledge and understanding of critical matters related to audit of banks and FIs.

Courtesy Call on Commerce Minister, GoBCAB President Kamrul Abedin FCA along with two Vice Presidents Adeeb Hossain Khan FCA, Mahmudul Hasan Khusru FCA and Council Member & Past Presidents Md.

Humayun Kabir FCA and Parveen Mahmud FCA paid a courtesy call on hon’ble Commerce Minister Tofail Ahmed, MP at his office, Bangladesh Secretariat on 26 January 2016. The call was made to introduce the newly elected office bearers of ICAB for the year 2016.

The Minister warmly received the ICAB delegates and expected that under the new office bearers, ICAB would be able to provide more and more professional services to the government for strengthening economy of the country. The Minister assured the ICAB team for his all out cooperation in ensuring professional interest of the Institute.

Among many other issues, the ICAB delegates discussed about ICAB’s ongoing activities, professional matters,

education, academic campus, etc. They also invited the Minister to ICAB-CAPA Roundtable to be Present as Chief Guest on 4 January 2016. The Minister accepted the invitation.

In different sessions the facilitators discussed on following issues i.e. Compliance with core risk management guidelines, internal audit and fraud; Loans and advances, loan classification, provision, write off, rescheduling and related disclosures in financials; Compliance with the Bank Company Act 1993 and other prudential guidelines issued by Bangladesh Bank; involvement of IRM/IT professional, capital adequacy and Basel III; Critical disclosures in financial statements in line with BFRS and BRPD 14 of 2003, off balance sheet items, liquidity statement, comparison to various amounts disclosed in financial to reports submitted by bank to Bangladesh Bank; Other audit and accounting matters like valuation and impairment of investments, consolidation, tax etc.,

In the closing session ICAB Vice President Mahmudul Hasan Khusru FCA expressed his gratitude to the facilitators and the participants. He said that it is the beginning; ICAB will arrange such type of Knowledge Sharing Session for other sectors throughout the year for the interest of professional development.

Schedule of Trainings and Workshops in February

The tentative schedule of the ICPE organised Trainings and Workshops in February 2016 are furnished below:

I

Title Number of Participants Date

Training on "Advanced Certifi-cate Course in Leadership & Communication”

30 11 February 2016


30 18 February 2016


30 25 February 2016

january 2016 icab n b chartered accountants (an independent member firm of baker tilly...

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