Number 330 Workshop on Roadmap to Strengthening … a warm 'Shuvo Noboborsho' to you all and hope an...

Monthly News Briefing from the Institute of Chartered Accountants of Bangladesh

ICABICAB NEWS BULLETINApril 2017

Number 330

ISSN 1993-5366

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Workshop on Roadmap to Strengthening Financial Reporting

Framework for Public Sector Entities

he Institute of Chartered Accountants of Bangladesh (ICAB) and the World Bank (WB) jointly organized Workshop on

‘Roadmap to Strengthening Financial Reporting Framework for Public Sector Entities’ at Pan Pacific Sonargaon Hotel, Dhaka on 18 April 2017.

Masud Ahmed, Comptroller and Auditor General of Bangladesh graced the programme as the Chief Guest. Mohammad Muslim Chowdhury, Additional Secretary, Ministry of Finance, GoB was present as Special Guest. Adeeb Hossain Khan FCA, President-ICAB delivered the welcome address and moderated the programme while Burhanuddin Ahmed FCA presented the key note paper. Mohammad Atikuzzaman FCA, Task Team Leader, WB presented an overview of Strengthening Financial Reporting Framework for Public Sector Entities. Suraiya Zannath Khan FCA, Lead Financial Management Specialist of WB also addressed in the programme.

Delivering his speech Comptroller and Auditor General Masud Ahmed said that it would take time to adopt the accounting and auditing standards by the government in public sector entities. However, the government feels that to bring equity in public wealth, transparency in decision making process & the best utilization of resources, the improvement in accounting and auditing systems in public sector is required. The concerned departments and ministries are arranging workshops and trainings on the relevant subject matter for the officials to make them update with knowledge and information. ICAB and OCAG are working towards this direction, he added. He appreciated WB’s initiative to introduce reporting framework for public sector entities.

Mohammad Muslim Chowdhury, Additional Secretary, Ministry of Finance, GoB highlighted the national budgetary mechanism, record keeping procedure, financial reporting, IFRS,

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IAS, IPSAS and position of public sector in adopting these standards. He also highlighted the financial reporting practice in neighbouring countries. He categorically mentioned that for best practice for financial reporting, C&AG can take initiative to involve Chartered Accountants like other countries.

Suraiya Zannath Khan FCA, Lead Financial Management Specialist of WB mentioned that national financial reporting standards to be adopted in the public sector entities to ensure accountability. She particularly highlighted the transparency, accountability tools require to be introduced in public sector.

ICAB President Adeeb Hossain Khan FCA said that it is true our public sector does not face a fierce demand for information as the private sector does. But the wind of change is certainly felt in the public sector because of rising of literacy levels, economy growth, number of tax payers and tax revenues. Our decision makers must have this information to take decisions in the matters like budgetary allocation, he added.

The financial reporting framework for the private sector in Bangladesh is sufficiently comprehensive and satisfactorily documented, driven partly by demands of stakeholders, by global standards and by professionalism of standard setters. A framework for the public sector close to this or its equal is a long overdue, he further added.

World Bank Task Team Leader Mohammad Atikuzzaman FCA said Bangladesh Country- Assistance Strategy of the World Bank emphasized on effective and efficient use of public resources, strong accountability and fostering public-private partnership for better public service delivery. This also comes as the implementation of recommendations included in the report on ROSC-Accounting and

Auditing in the corporate sector, he stated.

The keynote paper presenter Burhanuddin Ahmed FCA said that a number of studies conducted by the World Bank between 2003 and 2010, have assessed the status of accounting and auditing in public sector with reference to international standards and best practices. The reports identified various gaps in the institutional and regulatory framework and made recommendations on these. He also said that the National Accounting System currently does not comply to any international accounting or financial reporting standards but follow the national procedures in terms of codes and presentation of accounts. However, the Government has decided to adopt International Public Sector Accounting Standards- Cash Basis (IPSAS Cash) as its accounting and financial reporting framework and is currently undergoing through step by step implementation process.

He also said that without an acceptable Financial Reporting Framework, management does not have an appropriate basis for the preparation of the financial statements and the auditor does not have suitable criteria for auditing the financial statements. Accounting and financial reporting standards under an FRF would remove variations in treatment of several accounting aspects and bring about standardization in preparation and presentation. These intend to harmonize the diverse accounting policies followed in preparation and presentation of financial statements by different reporting enterprises so as to facilitate intra-firm and inter-firm comparison.

A floor discussion was held at the last session of the workshop. Government’s senior officials, professional accountants and other dignified personalities participated in the discussion.

Workshop on Roadmap to... Sector Entities

From the Desk of Chairman

ICAB Conference on Integrated...Opportunities

President’s Communica-tion April 2017

ICPE News

CRC-ICAB Organized Seminar on ‘Leadership’

Workshop on Audit Quality and... Practice Manual

Workshop for CA Articled Students

DRC-ICAB Celebrates Pohela Boishakh 1424

BCACP 30th Hostel Anniversary

CRC-ICAB Celebrates Pohela Boishakh 1424

Campus News

Admission as Associates

Admission as Fellows

Permission to Start Practice

Change of office Address

Anwaruddin at PICPA Organized... in Manila

ICAB President at NBR Meeting on VAT... Policies

Accountancy Age Report

SAFA Conference on ... held in Islamabad

ICAB Team Meets Faculties of Universities

We Mourn

Members’ Conference on ‘Cyber... Overview’

31st CA Students’ Conference...Sri Lanka

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April 2017 No. 330















FROM THE DESK OF CHAIRMAN – EDITORIAL BOARD

Dear Fellow Members & Friends,We the Bengali people celebrate the first day of Bangla Calendar year- Pohela Boishakh warmly and joyfully all over Bangladesh irrespective of race, colour and religion. We celebrate the event with loud festivities and parades onto the street, by having everything cleaned and begin with a fresh start. The Institute of Chartered Accountants of Bangladesh (ICAB) assisted by Dhaka Regional Committee (DRC) observed the very day arranging cultural programme with participation of its members at its premises. On behalf of the editorial Board, I would like to wish a warm 'Shuvo Noboborsho' to you all and hope an eventful, happy & prosperous year ahead. At the eve of Pohela Boishakh ICAB has stepped into a new era- it has joined the family of Facebook. ICAB has opened a Facebook page where people can know more about ICAB and can be up to date of its activities. Likewise Members can be also in touch with each other through the social media. In the month of April ICAB organized a workshop on ‘Roadmap to Strengthening Financial Reporting Framework for Public Sector Entities’ in collaboration with the World Bank. Some high officials of Office of the Comptroller and Auditor General of Bangladesh (OCAG), Ministry of Commerce, Ministry of Finance, and some other Government of Bangladesh entities participated in the workshop. This type of endeavor to involve different stakeholders like development partners and Government will certainly improve the image and credibility of ICAB to a new height.With Warmest Regards,

Dr. Jamshed S A Choudhury FCA

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April 2017No. 330















ICAB Conference on Integrated Reporting– Challenges and Opportunities

peakers at a conference said that accounting professionals could lead the way to enhance the

confidence and credibility of stakeholders through establishing the effective integrated financial reporting, which ensures corporate good governance and sustainability.

The speakers in the conference placed some suggestions on how to address market issues through catalyzing high quality financial reporting and credible audit practices through technical skills, professional competencies besides ethics.

The conference on ‘Integrated Reporting– Challenges and Opportunities’ was organised by ICAB at its auditorium on 30 April 2017, aimed to spread the true sense of corporate sustainability, accountability and reliable transparency of financial and non-financial information.

Anwaruddin Chowdhury FCA, Council Member & Past President, ICAB, Director CAPA Board and Technical Adviser CRAB Ltd presented the Keynote paper. Adeeb Hossain Khan FCA, President, ICAB delivered address of welcome and Abbas Uddin Khan FCA, Past President, ICAB & Managing Partner, Akhter Abbas Khan & Co.,

Chartered Accountants conducted the session as Session Chairman. Vice President Md. Mahamud Hosain FCA delivered vote of thanks. Council Members and distinguished members were also present in the conference.

Adeeb Hossain Khan FCA said, at present transparent, efficient and accountable financial statement on the part of all entities, is expected for economic growth of the country. He also said that it is to be ensured compliance with the provisions of all applicable International Accounting and Auditing Standards and International Financial Reporting Standards in preparation and presentation of the Financial Statements is maintained. He further mentioned that these standards are duly adopted by

ICAB as BAS/BFRS and BSA. He further said that integrated reporting through proper application of accounting and financial standards will ensure a comparable and fair presentation of the financial information and help decision makers in formulating economic policies.

The keynote speaker in his long powerpoint presentation described the challenges and opportunities of integrated reporting in our country. He said integrated reporting could bring benefits like monitoring/managing and communicating full value generation process, providing holistic meaningful information to diverse stakeholders, combining material information, re-corporating strategy, governance, performance & prospects through reflecting the economic, social and environmental context within which it operates.

He said, ICAB is well prepared to develop consistent awareness, promote and support the progressive application of global best practices in integrated reporting, adding that there are strong potentials for implementation of integrated reporting practices in the long-term – in the financial and corporate sectors, NGOs and public sector entities in Bangladesh.

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A partial view of the Audience.

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April 2017 No. 330

Dear Fellow Members,

Assalamu Alaikum and greetings to

you all.

The month of April always brings the

occasion of celebration of Pohela

Boishakh. It is part and parcel of our

Bengali culture and heritage. It is my

honour and it was a great

opportunity that on this day, I

conveyed ‘Shuvo Noboshow’ to you

all through our newly opened

Facebook Page at mid night of

Pohela Boishakh. ICAB entered into

Facebook from 14 April 2017, thanks

to Media and Branding Committee

for their ceaseless efforts behind

this.

Let me now share a summary of the

main events which took place during

the month of April.

Among other programmes that fell in

the month of April, the Workshop on Roadmap to Strengthening Financial Reporting Framework for Public Sector Entities was held

on 18 April at Pan Pacific Sonargaon

Hotel, Dhaka. The event was jointly

organized by the Institute of

Chartered Accountants of

Bangladesh (ICAB) and the World

Bank (WB) under the Public Private

Partnership project.

It is our honour that we had Mr.

Masud Ahmed, Comptroller and

Auditor General of Bangladesh to

grace the programme as the Chief

Guest and Mr. Mohammad Muslim

Chowdhury, Additional Secretary,

Ministry of Finance, GoB as Special

Guest. Besides a paper

presentation by Burhanuddin Ahmed

FCA, World Bank Task Team

Leader, Mohammad Atikuzzaman

FCA presented an overview of

Strengthening Financial Reporting


in this programme. We were pleased

to have Ms. Suraiya Zannath Khan

FCA, Lead Financial Management

Specialist, WB with us. I moderated

the programme while Vice President

Mahamud Hosain FCA gave vote of

thanks at the end.

Members’ Conference on ‘Cyber Security- An Overview’ was held at

ICAB auditorium on 25 April 2017.

Mr. Md. Harunur Rashid, Additional

Secretary, Ministry of Information

and Communication Technology

(ICT), GoB graced the occasion as

the Chief Guest.

I moderated the session while Mr.

Khondkar Atique-e-Rabbani FCA,

Managing Director, The Computers

Ltd presented the keynote

paper. Vice President Mr.Mostafa

Kamal FCA delivered vote of thanks

at the end of the programme.

Citing example of Bangladesh Bank,

which came under cyber-attack in

February 2016, the keynote speaker

said Cyber criminals may not give a

manager a second chance to

prevent a disaster. He said that

Vulnerability issue spreads over the

whole spectrum – hardware,

devices, software, networks,

personnel, site, organization, etc.

On a Members’ Conference on “Integrated Reporting –Challenges and Opportunities, speakers placed some suggestions

on how to address market issues

through catalyzing high quality

financial reporting and credible audit

practices through technical skills,

professional competencies besides

ethics. The conference was

organised by the ICAB at its

auditorium on Sunday 30 April 2017.

Mr. Anwaruddin Chowdhury FCA,

Council Member & Past President,

ICAB, Director CAPA Board and

Technical Advisor CRAB Ltd

presented the Keynote paper while

Mr. Abbas Uddin Khan FCA, Past

President, ICAB & Managing

Partner, Akhter Abbas Khan & Co.,

Chartered Accountants conducted

the session a Session Chairman. I

delivered welcome address and our

Vice President Mr. Md. Mahamud

Hosain FCA gave vote of thanks.

Council Members and distinguished

members were also present in the

conference.

Meeting with NBR; A team of ICAB

led by me participated at a meeting

on 25 April chaired by NBR

Chairman Mr.Md. Nojibur Rahman

on a proposed new direct taxes law.

Other stakeholders were also

present in the meeting. The other

members of ICAB team were

Council Member & Past President

Mr.Md. Humayun Kabir FCA,

Council Members Mr. AF

Nesaruddin FCA, Mr.Md. Shahadat

Hossain FCA and Fellow Member

Mr.Snehasish Barua FCA. We

placed a number of proposals in this

connection.

A number of trainings and workshops were held in April to

disseminate knowledge and

expertise among the members and

other stakeholders like Bangladesh

Bank and other corporate offices.

Workshops on transfer pricing

regulation & practice, audit quality

and application of update audit

practice manual, training on IFRS

were held. Six months long

Certificate Course on IS Audit for

ICAB members in two batches are

successfully going on in ICPE

training room.

Keeping ideology of Bangla tradition

& culture, the members of ICAB

Dhaka Regional Committee (DRC)

celebrated Pohela Boishakh with

their near and dear ones at the

Institute premises with folk songs

and traditional food in befitting

manner. Members of the fraternity

participated in the evening

programme with great enthusiasm. I

welcome such initiatives and hope

that in future we would together take

more initiatives to foster better image

of the CA profession.

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

April 2017:

Standing Committees:

- 3rd Meeting of the Investigation &

Disciplinary Committee (IDC) was

held on 4 April 2017 at 6:00 pm.

- 4th Meeting of Investigation &

Disciplinary Committee (IDC)

was held on 18 April 2017 at

6:00 pm.

- 3rd Meeting of the Executive

Committee (EC) was held on 22

April 2017 at 11:00 am.

- 2nd Meeting of the Board of

Studies (BoS) was held on `22

April 2017 at 4:00 pm.

- 8th Meeting of the Council was

held on 24 April 2017 at 5:00

pm.

President’sCommunication

April 2017

Non-standing Committees:

- 1st Meeting of the SAFA, CAPA

& International Affairs

Committee was held on 2 April

2017 at 5:00 pm.

- 2nd Meeting of the Information &

Communication Technology

Committee (ICTC) was held on 2


- 1st Meeting of the Review

Committee for Published

Accounts & Reports (RCPAR) was


- 2nd Meeting of the Editorial

Board (EB) was held on 5 April

2017 at 5:00 pm.

- 1st Meeting of the Continuing

Professional Development

Committee (CPDC) was held on

9 April 2017 at 6:00 pm.

- 1st Meeting of the Audit


2017 at 5:00 pm.

- 1st Meeting of the Members

Services & Welfare Committee

(MSWC) was held on 19 April

2017 at 6:00 pm.

- 2nd Meeting of the Media &

Branding Committee was held

on 24 April 2017 at 4:00 pm.

- 2nd Meeting of the Committee for

Small and Medium Practitioners

(SMP) was held on 26 April 2017

at 6:30 pm.

Standing and Non-standing Sub-committees:

- 1st Meeting of the Conveners of

Working Groups of Professional

Development Committee (PDC)

was held on 6 April 2017 at 6:30

pm.

- 1st Meeting of the Working

Group for Working on exploring

job opportunity for Professionals

and combating/addressing

professional threats


Committee (PDC) was held on 2


- 3rd Meeting of the 6-Member

Sub-committee of Board of

Studies (BoS) regarding to

develop and preparation of

model Case Study in local

context was held on 10 April

2017 at 6:30 pm.

- 3rd Meeting of PEC for the

procurement of services under

the World Bank Financed

Project was held on 10 April

2017 at 1:00 pm.

- 4th Meeting of PEC for the

Procurement of services under

the World Bank Financial Project


2:00 pm.

- Coordination Meeting regarding

a summit for prominent public

and private Universities’

students was held on 12 April

2017 at 6:00 pm.

- 1st Meeting of the Renovation

Committee regarding the REC

Sub-committee was held on 16





students was held on 127April

2017 at 6:00 pm.


Group for working on

professional issues relating to

Non-Government Organizations

(NGOs) and Microfinance

Institutions (MFIs) of PDC was


pm.

- 11th Meeting of TEC for the

procurement of goods under WB

funded project “Strengthening

Financial Reporting Framework

and Audit Practice was held on

22 April 2017 at 4:00 pm.





2017 at 5:30 pm.

- 2nd Meeting of the Renovation








2017 at 5:00 pm.





2017 at 5:30 pm.

With best wishes

Adeeb Hossain Khan FCA

President

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April 2017No. 330



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With best wishes


President

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April 2017 No. 330



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With best wishes


President

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April 2017No. 330



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ICPE NewsTraining on International Financial Reporting Standards (IFRS) for ACI Godrej OfficialsThe training on ‘International Financial Reporting Standards (IFRS)’ for ACI Godrej Officials organized by ICAB Center for Professional Excellence, was ended on 8 April 2017 at ICPE training room. A total number of 15 officials participated in the programme. The training was started on 25 February 2017.

ICAB Vice President (E & T) Mostofa Kamal FCA, and Guest of honor Md. Mohi Uddin, Head of Finance, ACI Godrej Agrovet Private Limited were present in the closing ceremony.

During the period, 5 daylong sessions were held and the sessions covered various subjects relating to Property, Plant and Equipment, Impairment of Assets, Impairment of Assets & Provisions, Contingent Liabilities and Contingent Assets , Inventories & Statement of Cash Flows, Events after the Reporting Period, Related Party Disclosures & Separate Financial Statements, Investments in Associates and Joint Ventures & Non-current Assets Held for Sale and Discontinued Operations, Income Taxes, Presentation of Financial Statements & Employee Benefits , Income Taxes, Presentation of Financial Statements & Employee Benefits, etc.

Resource persons were Mohammad Salahuddin Chowdhury FCA, Snehasish Barua FCA, Sabbir Ahmed FCA, Tarikul Islam FCA, Mohammad Aminul Hoque FCA and Wasequl Huq Reagan ACA.

Training on International Financial Reporting Standards (IFRS) for Bangladesh Bank OfficialsICAB Centre for Professional Excellence (ICPE) has organized a training programme on International Financial Reporting Standards (IFRS) for Bangladesh Bank Officials on 28 March 2017, and that to be continued till 23 May 2017 at ICPE training room. A total number of 35 participants are taking part in the programme.

ICAB Vice President (Finance & Accounts) Md. Mahamud Hosain FCA and Secretary AKM Rahmat Ullah FCA

were present in the inauguration session where Snehasish Barua FCA and Mohammad Salahuddin Chowdhury FCA were the resource persons.

During the period, 25 daylong sessions will be held and the sessions would cover several topics including Framework & Concept, Presentation of Financial Statements, First-time Adoption of International Financial Reporting Standards,Disclosure of government Assistance Financial Instruments: Recognition, Financial Instruments, Financial Instruments- Presentation, Intangible Assets & Financial Instruments - Discloser, Borrowing Costs, Insurance Contracts & Disclosure of Interests in Other Entities, Fair Value Measurement, Business Combination, Consolidated Financial Statements, Inventories, Statement of Cash Flows,Non-current Assets Held for Sale and Discontinued Operations, Operating Segments, Accounting Policies, Changes in Accounting Estimates and Errors, Events After the Reporting Period, Investment Property, Exploration for and evaluation of Mineral Resources, Investment in Associates, Share-based Payment, Property, Plant and Equipment, Impairment of Assets, The Effects of Changes in Foreign

Exchange Rates and Related Party Disclosures, etc.

Prominent CAs were the resource persons in different sessions of the training.

Six- month long Certificate Course on Information Systems Audit (IS Audit)-1st Batch & 2nd BatchThe six months long Certificate Course on Information Systems Audit ( IS Audit) - 1st Batch was started from 7 January 2017 and 2nd batch from 20 March 2017 at ICPE training room. The training programmes are going on very successfully. A total number of 50 participants in the 1st batch and 40 in 2nd batch are participating in the training programmes.

The participants are enjoying the course very much. The course for 1st batch will be ended on 24 June 2017 and 2nd batch on 30 October 2017.

Resource persons of the training courses are Imran Ahmed FCA, Md. Tohidur Rahman Bhuiyan , Mohammed Zahirul Kium FCA, M. A. Qaium Khan,. Md. Zahid Iqbal, Md. Borhanul Islam , ASM Mahfuz and Mr. Mohammad Shahadat Hossain CISA.





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2017 at 5:00 pm.





2017 at 5:30 pm.

With best wishes


President

8

April 2017 No. 330

Name of Resource Persons(Sections- A of PS-KL-1st Batch, Day Time Classes)Md Anisuzzaman FCAMd Abdul Wahab Akanda ACABhola Nath Kundu ACANaima Sultana ACAObaidur Rahman FCA Sk. Md Tarikul Islam FCAMuhammad Aminul Hoque FCAK S Omar Faruk FCA Abdul Hamid FCALingkon Mondal FCAMuhammad Mahbub Alam FCAMd Ziaul Alam ACAMohammad Imtiaz Khan FCAAfzal Ahmed ACAMd Sayduzzaman Tuhin ACAAKM Mesbahul Karim ACA

Md Mahamud Hosain FCANirmal Chandra Biswas ACATariquzzaman Khan FCADr Md Rizwanul IslamAHM Ariful Islam FCANazmul Hussain Siddique ACA

Name of Resource Persons(Sections- J, K & L of PS-KL-15th Batch, Evening Shift)Md Al- Amin Siddiki FCA Ajit Kumar Paul FCA (GT)Muhammed Moshiur Rahman FCAMd Mustaq Ahmed ACAAbdul Hamid FCALingkon Mondal FCAMohammad Showket Akber FCAMohammad Shafikul Islam ACAMohan Adhikari ACAAbu Hena Mustafa Kamal FCA

Nirmal Chandra Biswas ACATariquzzaman Khan FCA Syed Mohammed Kowser Hossain Abdulla-Al-Mahmud FCAPalash MallikMd Anisuzzaman FCATasnima Nur ACAG S Ashiqur Rahman Bhuyian FCASheuly Akter ACAAnup Kumar Mukherjee FCAMuhammad Mahbub Alam FCAMohammad Imtiaz Khan FCAAfzal Ahmed ACAMd Jashim Uddin AhmedAbdul Khalek FCAG M Latiful Quader FCAMuhammed Asaduzzaman NurAHM Ariful Islam ACAMazhar Khan

Mohammed Zakaria FCAMd Faruk Hossain ACAMd Kamruzzaman ACARajib Kumar Saha ACAMashruna Alam Chowdhury ACAMd Fuad Hasan ACAMd Sayduzzaman Tuhin ACAAKM Mesbahul Karim ACAMd Mahamud Hosain FCAAbdul Khalek FCA Mrs Nasreen Begum (GT)Dr Jakerul Abedin Nazmul Hussain Siddique ACAABM Ahasan Ullah

Name of Resource Persons(Sections- A-C of PS-AL-14th Batch)Md Anisuzzaman FCAAbdullah-Al-Mamun FCAMohammad Aminul Hoque FCAMd Amran Hossan ACAGopal Chandra Ghosh FCASabbir Ahmed FCASujan Kumar Saha ACAMd Shafiqul Alam FCAMasud Khan FCA-IndiaMd Ziaul Alam ACAZakir Hossain FCAAnup Kumar Mukherjee FCAMd Lutfar Rahman FCAK M Atiqul Islam ACAMohammed Forkan Uddin FCASnehasish Barua FCAMohammad Abdul Ohab Miah FCAMohammad Zakir HossainMd Amirul Islam FCAYasin Miah FCAAbdulla-Al-Mahmud FCAPalash MallickMohammed Ariful Hoque FCAMd Mahsudur Rahman FCAShafiq Musharrof FCAMd Sarwar Hossen FCAMuhammad Abu Hanif Meah ACAMd Mahamud Hosain FCAMd Abdur Rouf FCAS M Rahmatul Mujeeb FCAMd Abdul Ahad ACAA H Mostafa Kamal KhanDipok Kumar Roy FCARasedul Islam ACASyed Adnan Huda, CFASayeed Ahmed FCAMasud Khan FCA-IndiaSk. Md Tarikul Islam FCAMahmudul Hasan Khusru FCAAbdul Khalek FCA

Md Selim Reza FCAMd Jehad UddinDr Jakerul AbedinMd Md Abdur Rouf (GT)Abdullah Al YousufMohammad Abdul MatinABM Ahasan UllahMAKH Hasif Sowdagar FCAMuhammad Aminul Hoque FCAAjit Kumar Paul FCAMd Kishlur Rahman FCAObaidur Rahman FCAMohammad Redwanur Rahman FCAAnup Kumar Sarker ACAMd Kamruzzaman ACAShahriar Istiaq Halim FCAMohammad Aslam FCAMohammad Nazim Uddin FCAMd Abdur Razzaque FCAShaheduzzaman Choudhury FCAMohammad Anowar Hossain FCABibhuti Bushan Biswas FCAMohammad Imtiaz Khan FCAMd Arshadul Kabir ACARanjan Kumar Bhowmik FCMAMd Reajul Islam FCAJone Kumer Gupta FCAMd Razib Hossain ACAMd Tareq Kamal ACAMd Din Islam Miah FCATariquzzaman Khan FCAMrs Nasreen Begum (GT)Syed Mohammed Kowser HossainMohammad Showket Akber FCAMuhammed Asaduzzaman NurAHM Ariful Islam FCANazmul Hussain Siddique ACAMd Abdullah-Al-Amin ACA

Name of Resource Persons(Sections- A of AS-13th Batch)Gopal Chandra Ghosh FCAMohammad Mehedi Hasan FCAMd Mahamud Hosain FCAMohammed Forkan Uddin FCAImran Ahmed FCASabbir Ahmed FCASnehasish Barua FCAAbdullah-Al-Mamun FCAShahriar Istiaq Halim FCASk. Md Tarikul Islam FCAMasud Khan FCA-IndiaSayeed Ahmed FCASnehasish Barua FCAParul Das FCASujan Kumar Saha ACAWasequl Huq Reagan ACA

Visiting Faculties(for Ongoing Session)

Name of Visiting FacultiesAdeeb H. Khan FCAMostafa Kamal FCAMd Mahamud Hosain FCA Moddassar Ahmed Sidique FCAABM Azizuddin FCAAnwaruddin Chowdhury FCAA S M Nayeem FCA Muhammed Farhad Hussain FCAMd Humayun Kabir FCAMd Syful Islam FCAMd Abdus Salam FCAKamrul Abedin FCAGopal Chandra Ghosh FCA A F Nesaruddin FCAMahmudul Hasan Khusru FCAMasud Khan FCA-IndiaAbdul Khalek FCA Md Amirul Islam FCA Md Akbar Hossain FCA Sabbir Ahmed FCA (E-770) Mohammad Mehedi Hasan FCA Nasreen BegumAjit Kumar Paul FCAMd Abdur Rouf Md Abu Bakar FCA Dr. Jakerul Abedin Syed Mohammed Kowser HossainMuhammed Asaduzzaman NurAbdullah Al YousufMd Zakir HossainMd Jehad UddinMd Jashim Uddin AhmedA H Mostafa Kamal Khan

Workshop on Audit Quality and Application of Updated Audit Practice Manual

ICAB Chittagong Regional Committee arranged an intensive workshop on ‘Audit Quality and Application of Updated Audit Practice Manual’ for the Practicing Members on 19 April 2017 at Conference Hall of ICAB Chittagong Office.

With the help from the World Bank funded Project for Strengthening Financial Reporting Framework and Audit, the existing Audit Practice Manual has been updated with a case study and disseminated these among the Practicing Members through this workshop. The aim of this project is to strengthening the existing financial reporting framework of public enterprises and to improve the capacity of ICAB.

CRC-ICAB Organized Seminar on Leadership

Chittagong Regional Committee (CRC) of ICAB organised a Seminar on Leadership’ on 8 April 2017 at the Conference Hall of CRC office, Chittagong.

Masud Khan FCA, chief financial officer, Lafarge Surma Cement Ltd presented the Keynote paper. M. Shaifur Rahman Mazumdar, FCA, managing director of Chittagong Stock Exchange Limited conducted the session as Session Chairman. A panel discussion was held there.

DRC-ICAB Celebrates Pohela Boishakh 1424

Workshop for CA Articled StudentsICAB Chittagong Regional Committee organized a workshop on ‘Proposed New VAT & SD Act, 2012 and Rules 2016’ for CA Articled students on 28 April 2017 at ICAB-Chittagong Regional Office.

Md Abul Kashem FCA, General Manager and CFO, Equity Group conducted the program as resource person. Students participated in the workshop enthusiastically and enjoyed the programme a lot.

BCACP 30th Hostel Anniversary

CRC-ICAB Celebrates Pohela Boishakh 1424

9

April 2017No. 330

ICAB Academic Campus NewsThe Pre-examination Classes for Professional Stage-Knowledge Level (15th Batch, Sections: J, K & L), Application Level (14th Batch, Sections: A-C) and Advanced Stage (13th Batch, Section: A) which had been started from 8 March 2017 at ICAB Academic Campus for Examination Session: May-June 2017, will now be concluded on 29 May 2017. There are 481 students joining with 159 teachers for the Class Session: March-May 2017.

As a result, the cumulative number of participated students of ICAB under new curriculum has arisen at 12,961 till April 30, 2017.

The regular classes for the students of Professional Stage-Knowledge Level (16th Batch) will commence from Thursday, 1 June 2017 at ICAB Academic Campus, 51-53, Kazi Nazrul Islam Avenue, Kawran Bazar Commercial Area, Dhaka-1215. A Notice has already been issued in this regard and all the concerned students are advised to enroll for the classes by 25 May 2017, and adhere the session accordingly.

On the other hand, day time classes for Knowledge Level (1st Batch) which were started from 08 March 2017, for

Examination Session: May-June 2017, had already been closed on 22 April 2017. Now its 2nd batch class schedule will be announced very soon.

Meanwhile, the Mock Exams on "Assurance, Accounting & Taxation-1" for Professional Stage-Knowledge Level students were held on 7, 21 & 28 April 2017 at ICAB Academic Campus, under the guidance of Dhaka Regional Committee (DRC)-ICAB.

Moreover, the feedback session ensued regarding ‘Assurance’ mock exam was held on 28 April 2017 at Campus. Actually, the omissions and errors found in answers script would ensure doing well in the final exams and matters and techniques were forecasted by a group of resource persons. The concerned examinees, teachers, office bearers and members, Council of the Institute joined the session and made the progframme effective.

Virtual Class Recording (VC) on 'Business Risk Management' &' Value Added Tax (VAT) of Bangladesh' were taken on 18 & 19 April 2017 from 5:00pm to 9:00pm for uploading as online documentary in ICAB Website. The students of Advanced Stage & Application Level participated in the classes. The renowned resource person and professionals Masud Khan FCA - &

Muhammad Mehedi Hasan FCA conducted the classes.

Within the month of April 2017, the Vice President (E&T)-ICAB, Mostafa Kamal FCA visited the ICAB Academic Campus on 7, 14, 21 & 28 April 2017, during the class-hour in the evening shift and Fridays' session. He met with the students and faculty members to know about the areas needed to improve with a view to make the campus environment, services and activities more congenial for study. He advised all the concerned for proper implementation of the outcomes of his visits as well.

Besides, the refurbishments of ICAB Academic Campus at 51-53, Kazi Nazrul Islam Avenue, Kawran Bazar Commercial Area, Dhaka-1215, has mostly been done, and the rest works of mezzanine floor would be completed by June 2017.

The Programme and Session have been organised by the Additional Director & his Team at ICAB Academic Campus, under the supervision of the Vice President (Education & Training)-ICAB, Mostafa Kamal FCA, with the guidance and consent of the Chairman, Board of Studies-ICAB, ABM Azizuddin FCA & President of ICAB, Adeeb H. Khan FCA.

Resource Persons: ICAB Academic Campus (March-May 2017)Name of Resource Persons(Sections- A of PS-KL-1st Batch, Day Time Classes)Md Anisuzzaman FCAMd Abdul Wahab Akanda ACABhola Nath Kundu ACANaima Sultana ACAObaidur Rahman FCA Sk. Md Tarikul Islam FCAMuhammad Aminul Hoque FCAK S Omar Faruk FCA Abdul Hamid FCALingkon Mondal FCAMuhammad Mahbub Alam FCAMd Ziaul Alam ACAMohammad Imtiaz Khan FCAAfzal Ahmed ACAMd Sayduzzaman Tuhin ACAAKM Mesbahul Karim ACA










10

April 2017 No. 330

Announcement(Classes of Next Session)

The New Session (June- August 2017) for the Students of Professional Stage-Knowledge Level (16th Batch) will start from Thursday, 01 June 2017 at ICAB 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 for the classes by 25 May 2017, and join the session accordingly.

Source: ICAB Campus











Admission as AssociatesThe following members have been admitted as Associates of the Institute with effect from the dates mentioned against respective names:

Soyeb Ahmad Chowdhury ACA (1835) 13 March 2017Assistant Manager-Audit & Advisory Services Rahman Rahman Huq Chartered Accountants 102 Agrabad C/A, Chittagong

S.M. Asraf UI Amin ACA (1836) 16 April 2017Manager-Accounts Shah Cement Ltd. Empori Financial Centre (Level-13) North Avenue, Gulshan-2 Dhaka-1212

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

Name Effective DateMd. Rabiul FCA (1370) 05 March 2017Apollo Hospitals Dhaka Plot #81, Block-E Bashundhara R/A, Dhaka-1229

Pankoj Suter FCA (1352) 07 March 2017One Bank Limited HRC Bhaban 46, Kawran Bazar Dhaka-1215

Md. Parvej Ahmed FCA (1376) 08 March 2017 Finance & Accounts Division Corporate Head Office United Commercial Bank Ltd. Plot #CWS(A), Road #34 Gulshan Avenue, Gulshan Dhaka-1212

Md. Ashraful Huq FCA (1348) 13 March 2017House #120, Road #07, Block-C Mohanagar ProjectWest Rampura Dhaka-1219

Md. Saiful Hasan FCA (1338) 13 March 2017Compliance Department Citibank N.A Laila Tower 8 Gulshan Avenue Gulshan-1, Dhaka-1212

Sheikh Zahidul lslam FCA (1394) 13 March 2017Khan Wahab Shafique Rahman & Co., Chartered Accountants Rupali Bima Bhaban 7 Rajuk Avenue, Motijheel Dhaka-1000

Name Effective Date

Mohammad Arif FCA (1388) 14 March 2017CFO, BSRM Steels Ltd. Ali Mansion 1207/1099 Sadarghat Road Chittagong

Shahadat Hosen FCA (1389) 14 March 2017Company Secretary Western Marine Shipyard Limited Amin Future Park (7th Floor) 1440/A, Strand Road, Chittagong

Ayesha Rahman FCA (1381) 19 March 2017House #307/5, Road #01 Pirerbagh, Mirpur, Dhaka-1216

Mahmood Hasan Faruq FCA (1362) 21 March 2017Ahmed Mashuque & Co., Chartered Accountants 20 Comrade Moni Singh Road (Old: 62/1, Purana Paltan) Level-4, Motijheel CIA Dhaka-1000

Mohammad Atiqur Rahman FCA (1372) 21 March 2017Assistant Vice President Financial Administration Department National Bank Ltd. Head Office 18 Dilkusha Com. Area Dhaka-1000

Babla Basu FCA (1395) 23 March 2017Fresh Villa, House #15 Road #34, Gulshan-1 Dhaka-1212

Md. Wadud Ahmed FCA (1350) 23 March 2017Controller of Accounts & Finance Southeast University House #64, Road #18Block-B, Banani, Dhaka-1213

Md. Rejaul Karim FCA (1355) 23 March 2017WIBCI Project Office 37/B, SBC Tower, Level-6 Dilkusha C/A, Dhaka-1000

Khaled Mohammad Munirul Muktadir FCA (1332) 23 March 201724/2, Prominent Housing Road #03, Sheker Tek Adabor, Dhaka-1207

Muhammad Mahmudul Hoq FCA (1354) 23 March 2017Toha Anwar Rouf & Co., Chartered Accountants Hasan Holdings (11th floor) 52/1, New Eskaton Road Dhaka-1000

Md. Yaqub Ali FCA (1392) 28 March 2017Additional Director Walton Group Jiban Bima Bhaban (Level-3) 10 Dilkusha Com. Area, Dhaka-1000

Name Effective Date

Md. Noor-Ul-Alam FCA (1345) 30 March 2017AVP & Deputy Head Risk Management Division Dutch Bangia Bank Ltd. Head Office Sena Kalyan Bhaban 195, Motijheel Com. Area Dhaka-1000

Noornavi Bhuiyan FCA (1366) 30 March 2017Sr. DGM (A&F) Aman Group 2 Ishakha Avenue (2nd Floor) Sector-6, UttaraDhaka-1230

Tarek Rashid FCA (1363) 02 April 2017Flat #A7, Plot-82 Road #10/1, Block-D Niketon, Gulshan-1 Dhaka-1212

Md. Abdul Wadud FCA (1379) 03 April 2017GM (FAT) & Company Secretary MIDAS Financing Ltd. MIDAS Centre (10th floor) House #5, Road #16(New), 27 (Old) Dhanmondi R/ADhaka-1209

James Tutul Mondal FCA (1375) 03 April 2017105/3A/2A, Anwara Garden Tejgaon, Dhaka

Abuzer Ghaffari FCA (1396) 05 April 2017111, Sir Uttam CR Datta Road Sonargaon Janapath, Panthapath Dhaka

lhsanul Arefin FCA (1364) 11 April 2017Senior Assistant Vice President Finance Division AB Bank Ltd., Corporate Office BCIC Bhahan (9th floor) 30-31, Dilkusha Com. Area Dhaka-1000

Muhammed Nadim FCA (834) 12 April 2017EVP & Chief Financial Officer (CFO) Financial Administration Division AI-Arafa Islami Bank Ltd. Head Office 36, Dilkusha Com. Area Dhaka-1000

Md. Shah Amran FCA (1390) 13 April 2017142/1, Plot-6, Alphona Chaya Bithi (2nd Floor), South BaddaDhaka-1212

Adneen Mourin Hussain FCA (1378) 16 April 2017 Paxar Bangladesh Ltd. Uday Tower (20th floor) 57, Gulshan Avenue, Gulshan-1 Dhaka-1212

Name Effective Date

Biplab Hossain FCA (1368) 17 April 2017Islam Quazi Shafique & Co., Chartered Accountants Room-C 17, New Eskaton Road (4th floor) Dhaka-1000

Permission to Start PracticeThe following members have been permitted to Start Practice as Public Accountants with effect from the date mentioned against their respective names:

Sohadeb Kumer Das ACA (1431) 07 March 2017Partner Khan S Das & Co., Chartered Accountants 128/2, East Tejturi Bazar (1st Floor) Dhaka-1215

Md. Ashik Khan Razeeb ACA (1472) 07 March 2017Partner Khan S Das & Co., Chartered Accountants 128/2, East Tejturi Bazar (1st Floor) Dhaka-1215

Change of Office AddressName and New Address Effective DateM/s. Ahsan Manzur & Co. 22 April 2017Chartered AccountantsHouse #304 (3rd Floor), Road #19/BDOHS, Mohakhali, Dhaka

11

April 2017No. 330





















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12

April 2017 No. 330

Anwaruddin Chowdhury at PICPA International Conference in Manila











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Anwaruddin Chowdhury, Member Council and Past President-ICAB, Director CAPA Board & Member PSFMC, and Member IPSASB CAG- made his presentation on Bangladesh Public Sector Accounting and Auditing, in the PICPA organized International Conference in April 2017 in Manila, Philippines.

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April 2017No. 330

Accountancy Age Report

Indian Companies Making Important Contribution to UK economy, says Grant Thornton ReportGrant Thornton, in association with the Confederation of Indian Industry (CII), has published an annual report on Indian businesses operating in the UK. The report, India meets Britain Tracker 2017: The latest trends on Indian investment in the UK, shows that Indian companies are continuing to make important contributions to the UK economy.

The report showed that in 2016, approximately 800 Indian companies were operating in the UK, with recorded combined revenues of £47.5bn. The 55 fastest growing companies achieved an average annual growth rate of 31%, with

Datamatics Infotech Limited topping the list with a growth rate of 103%.

In congruence with previous years, companies from the Technology and Telecoms, and Pharmaceuticals and Chemicals sectors are most prominent, making up 31% and 24% of the list respectively. A new addition to the top three sectors is the business services sector, making up 11% of the list (compared with 6% in 2016).

The report showed that these Indian companies employ almost 110,000 individuals in the UK, and last year had a combined capital expenditure of £4.25bn. Shuchita Sonalika, director and head of CII UK, added: “The report identifies £4.25bn of new investment last year by the Indian companies, and further jobs being created as part of their continued investment programmes. Given that the report only tracks

companies set up as subsidiaries, not branches, we believe the employment numbers are even higher than 110,000.”

London continues to be at the hub of Indian investment in the UK, with 44% of the fastest-growing companies being based in the capital.

Patent Box Scheme Saves Businesses Record High of £875m in Corporation TaxLast year, the Patent Box scheme saved businesses £875m in corporation tax, up 17% from the previous year’s £750m.

Introduced by the government in 2013 to encourage more businesses to invest in research and development (R&D), the scheme allows UK businesses to pay only 10% corporation tax on profits derived from any UK or certain EU patents.

ICAB President at NBR Meeting on VAT and Tax PoliciesCAB President Adeeb Hossain Khan FCA and Council Member, Past President and Chairman, Taxation

and Corporate Laws Committee-ICAB Md. Humayun Kabir FCA and their team participated in a meeting organized by the National Board of Revenue(NBR) at its office. The NBR is holding dialogue with several stakeholders and sought supports to formulate new VAT and Tax laws effective from July 2017.

The ICAB Taxation and Corporate Laws Committee with their expertise has been relentlessly working to help the NBR regarding formulation of VAT & Tax policies in the upcoming National Budget. Already a team of ICAB participated in meetings on 9 and 25 April 2017.

They placed some proposals regarding proposed new VAT & Tax policies in the upcoming national budget to make the polices business friendly. Speaking at the

promramme, Mr. Kabir said that VAT is not something for the businesses to bear, it’s a consumer tax. So, the authority should pay extra attention to VAT’s possible impact on the consumers. The business community is concerned about increase on the cost of doing business due to the new VAT Law, he added.

Other Members of ICAB team were Council Members AF Nesaruddin FCA, Md. Shahadat Hossain FCA and Fellow Member Snehasish Barua FCA.

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14

April 2017 No. 330

SAFA International Conference on Accountants’ Role in Addressing Economic Challenges in SAARC held in Islamabad

resident of Pakistan Mamnoon Hussain on 28 April inaugurated the International Conference of

South Asian Federation of Accountants (SAFA) at Islamabad hosted by the Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) with the theme of ‘SAARC Economic Challenges’. Delegates from SAARC nations including Bangladesh, India, Nepal, Sri Lanka, Afghanistan and from across the country participated in the conference to deliberate upon the economic challenges in the region and the way forward with special reference to the role that could be played by accountants’ community in SAARC.

Briefing the role and activities of SAFA, President SAFA, ASM Nayeem, also Council Member & Past President of ICAB said that its’ principal focus is to promote the accounting profession in the countries in South Asia. He said that globally the professional accountants are playing multi-dimensional roles as communicators and business partners and there are more expectations from them to add value and drive the business agenda in these challenging times.

He stressed upon the finance professionals to acquire skills to

compete in present digital environment. He added that in this increasing age of digitalization, nexus of technology and accountability are important for organizations and CFOs need to play a vital role in this regard by focusing on IT based solutions, moving away for their traditional role of stewardship accounting. He indicated that huge potential of digital evolutions still remain untapped in South Asia and there is need to stimulate a more innovative and entrepreneurial mind-set and accelerate smarter use of 'digital' technology in various sectors of the economy.

He also highlighted importance of integrated reporting for organizations in SAARC countries. He announced that SAFA is on the verge of setting up a Virtual Knowledge Training Centre to provide online training to, and sharing knowledge among the professional accountants of SAFA. He further said that SAFA is helping in setting up professional accountancy organizations in Maldives, Afghanistan and Bhutan, and hoped that these projects will be materialized soon.

The conference was largely attended by the accounting professionals, experts, economists, policy makers, diplomats

and representatives of trade and industry.

Federal Finance Minister, Senator Mohammad Ishaq Dar was the Chief Guest at the concluding session on 29 April 2017. Earlier, three technical sessions were held, where speakers from Pakistan and SAARC countries made presentations and deliberated on different sub-themes.

The first technical session on theme of ‘Financial Control and Prosperity in a Digital World’ was chaired by Ashfaq Yousuf Tola who was also the guest of honour. The speakers at this session were Szymon Radziszewicz, Adviser to Ministry of Finance, Afghanistan and Reyaz Mihular, Chairman SAFA Committee on Accounting and Auditing Standards.

The second technical session deliberated upon theme of ‘Rising South Asia: Partnering for Results’. Saleem Mandviwalla, Chairman, Senate Committee on Finance was the guest of honour. The speakers included Lasantha Wickremasinghe, President CA Sri Lanka; Nadeem Yousuf Adil, President, ICA Pakistan; Mohammed Salim, Vice President ICMA Bangladesh; CA. Prakash Jung Thapa,

P

Vice President, ICA Nepal and Mirza Munawar Hussain, former Council Member, ICMAP.

The third technical session was chaired by Jameel Ahmed, Deputy Governor, State Bank of Pakistan who was also guest of honour. This session focused on theme of ‘Role of Accountants in safeguarding consumers’ Interest’. The main speakers were Hennayaka Bandara, Council Member, CMA Sri Lanka and Zahid Mubarik, President, SHRM Pakistan.

Before the conclusion of SAFA Conference, a Panel discussion was held on ‘SAARC Economic Challenges–Way Forward’ which was chaired by ASM Nayeem, President SAFA. The panelists represented the office bearers of SAFA Accounting bodies’ viz.

Mohammad Salim (Bangladesh); CA. Prakash Jung

Thapa (Nepal); Mohammad Iqbal Ghori and Nadeem

Yousuf Adil (Pakistan); Prof. Lakshman R Watawala

and Jagath Perera (Sri Lanka). Waqar Ali Khan,

Council Member, ICMA Pakistan was the moderator of

this Session.

A conference overview was presented by Muhammad

Ashraf Bawany, former President ICMA Pakistan

whereas Anis-ur-Rehman, Vice President presented

the vote of thanks. A lucky draw was held at the

conclusion of conference. SAFA Executive Secretary &

Director (Technical)-ICAB Mahbub Ahmed Siddique

FCA also attended the conference.

15

April 2017No. 330

resident of Pakistan Mamnoon Hussain on 28 April inaugurated the International Conference of

South Asian Federation of Accountants (SAFA) at Islamabad hosted by the Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) with the theme of ‘SAARC Economic Challenges’. Delegates from SAARC nations including Bangladesh, India, Nepal, Sri Lanka, Afghanistan and from across the country participated in the conference to deliberate upon the economic challenges in the region and the way forward with special reference to the role that could be played by accountants’ community in SAARC.

Briefing the role and activities of SAFA, President SAFA, ASM Nayeem, also Council Member & Past President of ICAB said that its’ principal focus is to promote the accounting profession in the countries in South Asia. He said that globally the professional accountants are playing multi-dimensional roles as communicators and business partners and there are more expectations from them to add value and drive the business agenda in these challenging times.

He stressed upon the finance professionals to acquire skills to

compete in present digital environment. He added that in this increasing age of digitalization, nexus of technology and accountability are important for organizations and CFOs need to play a vital role in this regard by focusing on IT based solutions, moving away for their traditional role of stewardship accounting. He indicated that huge potential of digital evolutions still remain untapped in South Asia and there is need to stimulate a more innovative and entrepreneurial mind-set and accelerate smarter use of 'digital' technology in various sectors of the economy.

He also highlighted importance of integrated reporting for organizations in SAARC countries. He announced that SAFA is on the verge of setting up a Virtual Knowledge Training Centre to provide online training to, and sharing knowledge among the professional accountants of SAFA. He further said that SAFA is helping in setting up professional accountancy organizations in Maldives, Afghanistan and Bhutan, and hoped that these projects will be materialized soon.

The conference was largely attended by the accounting professionals, experts, economists, policy makers, diplomats

and representatives of trade and industry.

Federal Finance Minister, Senator Mohammad Ishaq Dar was the Chief Guest at the concluding session on 29 April 2017. Earlier, three technical sessions were held, where speakers from Pakistan and SAARC countries made presentations and deliberated on different sub-themes.

The first technical session on theme of ‘Financial Control and Prosperity in a Digital World’ was chaired by Ashfaq Yousuf Tola who was also the guest of honour. The speakers at this session were Szymon Radziszewicz, Adviser to Ministry of Finance, Afghanistan and Reyaz Mihular, Chairman SAFA Committee on Accounting and Auditing Standards.

The second technical session deliberated upon theme of ‘Rising South Asia: Partnering for Results’. Saleem Mandviwalla, Chairman, Senate Committee on Finance was the guest of honour. The speakers included Lasantha Wickremasinghe, President CA Sri Lanka; Nadeem Yousuf Adil, President, ICA Pakistan; Mohammed Salim, Vice President ICMA Bangladesh; CA. Prakash Jung Thapa,

ICAB Team Meets Faculties of Universities

The officials of the Institute of Chartered Accountants of Bangladesh (ICAB) visited the American International University of Bangladesh (AIUB) on 23 April 2017, the Institute of Business administration (IBA) and Department of Accounting and Information Systems, Dhaka University on 26 April 2017 and the BRAC University on 30 May 2017. The universities extended warm welcome and had prolific discussion on various issues like subject exemption for meritorious students and organizing different programs to attract meritorious students in CA profession etc. The IBA officials expressed that IBA and ICAB can work in collaboration to offer a joint certification program and it can also be linked to some International Institutions. They also expressed that there should be periodic meeting between ICAB and each University to work relentlessly for students. This way we can work for students of this generation to make them professionals and thus work for the country.

Visit to IBA, University of Dhaka.

Vice President, ICA Nepal and Mirza Munawar Hussain, former Council Member, ICMAP.

The third technical session was chaired by Jameel Ahmed, Deputy Governor, State Bank of Pakistan who was also guest of honour. This session focused on theme of ‘Role of Accountants in safeguarding consumers’ Interest’. The main speakers were Hennayaka Bandara, Council Member, CMA Sri Lanka and Zahid Mubarik, President, SHRM Pakistan.

Before the conclusion of SAFA Conference, a Panel discussion was held on ‘SAARC Economic Challenges–Way Forward’ which was chaired by ASM Nayeem, President SAFA. The panelists represented the office bearers of SAFA Accounting bodies’ viz.

We MournMohammed Nurul Islam FCA (Enrl. No. 55), a senior C h a r t e r e d Accountant and Partner, M N Islam & Company, died due to heart attack at Apollo Hospital, Dhaka on 25 April 2017 at 10: 30 pm. (Innah Lillahe ... Rajeun). He was 77.

He left behind his wife, one son and five daughters.

On behalf of the Council of ICAB, President Adeeb Hossain Khan FCA sent a condolence letter to the bereaved family and sought eternal pace to the departed soul.

Mohammad Salim (Bangladesh); CA. Prakash Jung

Thapa (Nepal); Mohammad Iqbal Ghori and Nadeem

Yousuf Adil (Pakistan); Prof. Lakshman R Watawala

and Jagath Perera (Sri Lanka). Waqar Ali Khan,

Council Member, ICMA Pakistan was the moderator of

this Session.

A conference overview was presented by Muhammad

Ashraf Bawany, former President ICMA Pakistan

whereas Anis-ur-Rehman, Vice President presented

the vote of thanks. A lucky draw was held at the

conclusion of conference. SAFA Executive Secretary &

Director (Technical)-ICAB Mahbub Ahmed Siddique

FCA also attended the conference.

Mohammed Nurul Islam FCA

16

April 2017 No. 330

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

Members’ Conference on Cyber Security- An Overviewig data storage can protect the risk of cyber-attacks. Manager can get any sort of information from the

storage to predict the risk and take necessary measures or can design the software used in their business operation. The government is going to build a big data storage centre in the country at a cost of Tk 20 billion, which would be sixth largest in the world, is expected to be usable by the end of next year. Both government and private sectors would get access in the data storage.

As Chief Guest, Additional Secretary Information and Communication Technology (ICT) Ministry Harunur Rashid told these at a conference on ‘Cyber Security- An Overview’ organized by the Institute of Chartered Accountants of Bangladesh (ICAB) at its auditorium on 25 April 2017. ICAB President Adeeb Hossain Khan FCA delivered welcome speech and moderated the session. Khondkar Atique-e-Rabbani FCA, Managing Director, The Computers Ltd. presented the keynote paper. ICAB Vice President Mostafa Kamal FCA delivered vote of thanks at the end of the programme

Mr. Rashid said the government will set up the data centre in Dhaka and the backup centre in Jessore. The private

data could be stored in the data centre in exchange of charges. He also urged the businessmen to use digital signature for their financial transactions. A digital security law will be passed very soon to ensure stronger cyber security, the Addl. Secretary said.

Adeeb Hossain Khan, President of ICAB, said Bangladeshi experts will be working on cyber security. One upon a time, such opportunities used to go to foreign countries. Now Bangladesh is getting ready to do it,’ he added.

Citing example of Bangladesh Bank came under cyber-attack in February 2016, the keynote speaker said Cyber criminals may not give a manager a second chance to prevent the resources. He said that vulnerability issue spreads over the whole spectrum

– hardware, devices, software, networks, personnel, site, organization, etc. For example, most vulnerabilities discovered in IPv4 protocol software were discovered in the new IPv6 implementations. Cyber criminals use financial malware such as Carbanak, Dyre, Dridex, Rovnix and Shifu to steal funds directly from victims’ bank accounts. Vulnerabilities arise because there are some undiscovered flaws in the system. Attacker always finds about the flaw. A comprehensive security strategy is required to support economic growth, protect critical infrastructure and its citizens-according to the key-note paper.

Vice presidents, council members and distinguished members were present in the conference.

31st CA Students’ Conference 2017 in Sri LankaThe 31st CA Students’ Conference was held in Colombo, Sri Lanka with the theme of ‘Transmute to Transmute’. The seven days conference was meticulously planned and executed by the Student Body of ICA Sri Lanka. Md. Rabiul Hoque, Aurpa Saha and Jayed Ahmed were nominated by ICAB to participate in the conference this year.

The main event of the CA Students’ Conference 2017, was held on 4 April 2017. Senior panel discussion, junior panel discussion, motivational speech, insights on the global, SAFA and Sri Lankan economy, cultural music & dance performances, etc. composed the entire conference.

Twenty-one foreign delegates visited Sri Lanka for 7 days and a handful of Student Society representatives from different countries made it one of the most memorable event.

B

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