Monthly News Briefing from the Institute of Chartered Accountants of Bangladesh

ICABICAB NEWS BULLETINMarch 2015

Number 305

ISSN 1993-5366

angladesh Bank is working to protect people’s interest through supervising the Banks and other Financial Institutions

because they invested capital from deposited money of the people. Auditors should protect the people’s interest to ensure financial stability.

Bangladesh Bank’s Deputy Governor Md. Abul Quasem was speaking as Chief Guest at Members’ Conference on “Audit of Banks and Financial Institutions” organized by the Institute of Chartered Accountants of Bangladesh (ICAB) at its auditorium on 30 March 2015. Sabbir Ahmed FCA, Partner, Hoda Vasi Chowdhury & Co., Chartered Accountants presented the keynote paper in the program and Abdul Hafiz Choudhury FCA, Past President-ICAB was the Session Chairman with Vice President AF Nesaruddin FCA was in the Chair.

Citing recent financial scandals in Bangladesh, Bangladesh Bank Deputy Governor said CAs could play vital role to ensure transparency & accountability of Banks and other Financial Institutions so that recurrence of such scandals would not be surfaced in future.

Mr. Quasem said, to keep pace with the global changes, Bangladesh Bank always remains

alert and makes guidelines for the development of this sector.

The auditors have always been working for protection of public interest by their reports on conforming the compliance of rules and regulations by the Banks and Financial Institutions,he added.

Representing ICAB President Masih Malik Chowdhury FCA in the conference AF Nesaruddin FCA said that Banks and Finance Institutions were the vital organs of the economy and the audit of these entities were also important. Putting more responsibilities on the auditors, certain changes have been brought in the Bank Company Act, he mentioned.

Keynote speaker Sabbir Ahmed FCA described the Bank’s audit with background and examples. Financial Institutions (FIs) play a central role in the economy by holding savings of public, providing a means of payment for goods & services, financing the development of business and trade. Therefore, Banks and FIs govern the confidence of the public and those with whom they do business. Thus, stability of the banking and financial systems, both nationally and internationally, recognized as a matter of general public interest. As a

B

01

02

03

03

04

08

09

09

09

09

10

10

10

10

11

11

11

11

12

12

12

13

131618

18

18

Members’ Conference on Audit of Banks...ICAB Team participated in SAFA Board...Meeting with ICAEW Delegates heldICAB participated in Video Conferencing...President’s Communica-tion March 2015Meeting with visiting ICAEW Delegates...ICAB Officials visit ICA PakistanSaiful Islam ACA receives Appreciation...CRC Annual Picnic 2015BCACP Office Bearers greet ICAB PresidentICPE organized Workshop on ‘Transfer Pricing...ICAB Training Wing gets New Name ‘ICPE’Workshop on ‘Code of Ethics for Professional...Training on ‘Advanced Excel and Financial...Emerging Credit Rating Managing Director...Ekushey TV took Interview...Meeting on Audit Quality of LGSP-II heldMembers’ AchievementICAB Team met President, BAPLCICAB President attends Board Meeting of DMTCLCongratulations to Newly qualified..Meeting with BREB ChairmanCongratulationsCampus NewsICAB facilitated Workshop for Accounting...Masih Muhith Haque & Co., CA appointed...Training and Workshop in April

Members’ Conference on Audit of Banks and Financial Institutions held

A partial view of the audience

2

March 2015 No. 305

result, naturally stakeholders’ expectation from external or statutory auditors of a bank and FI is much higher than auditors of another entity. Many frauds or scams took place due to the absence of robust risk management, internal control and internal audit function in the banks. Aftermath of these scams, as usual, along with others, criticisms were also directed towards the auditors of those banks/FIs. Unfortunately, many of these criticisms towards auditors were driven by emotion, and not by the fact. As a result, instead of constructive feedback or criticism that could have assisted auditor to improve their quality, these were turned out to be wholesale abuse and at times find a scapegoat, the keynote speaker stated in his paper.

Having said that, it is also imperative to note that as per the local regulations, roles and responsibilities of an auditor of Bank/FI are far greater in the country than what is in place in other countries. Auditors may consider the matters while conducting the audit which as additional risk factors for Bank /FI audit, custody of large amount of monetary items, assets that can rapidly

change in value, operated with high leverage (capital to assets), short term deposit, solvency, liquidity issue, complex accounting and IT systems, assumption significant commitments, wide spread of branches and departments, highly regulated with strict enforcement, cross border involvement and FX issue.

Among many relevant issues, examples & regulations, the Companies Act 1994,

the Financial Institutions Act 1993, critical matters of the Bank Company Act, prudential guidelines for Banks, assessment of risk management were got prominent in the discussion in the keynote paper. After presentation of keynote paper, a floor discussion took place.

The session chairman conducted the conference in a methodical mean and concluded the session in fine.

CAB President Masih Malik Chowdhury FCA along with his delegates: Council Member & Past

President Muhammed Farhad Hussain FCA, Md. Syful Islam FCA, Md Abdus Salam FCA and Council Member Muhammad Farooq FCA participated in SAFA Board meeting, other committee meetings, CAPA events and the meeting with the SAARC Secretary

General during 26-27 March in Kathmadu, Nepal. ICAB President attended the meeting with the SAARC Secretary General and the Directors at SAARC Secretariat on 27 March. The team represented the ICAB at the meetings of South Asian Federation of Accountants (SAFA) like Small & Medium Practices (SMP)

Committee, Task Force to implement BASEL-II in SAFA Countries, Education, Training & CPD Committee and 39th SAFA Board Meeting on the same day. The ICAB President participated in Roundtable on Public Sector Financial Management jointly organised by ICAN, World Bank and CAPA on 26 March.

ICAB Team participated in SAFA Board Meeting, other Meetings & CAPA Events in Nepal

I

ICAB President Masih Malik Chowdhury FCA, Council Member & Past Presidents M Farhad Hussain FCA and Md. Syful Islam FCA flanked by other delegates from different CA Institutes seen at SAFA Board meeting hosted by ICAN on 27 March

ICAB President Masih Malik Chowdhury FCA seen among others at roundtable on CAPA PSFM on 26 March in Kathmandu, Nepal

3

March 2015No. 305

meeting was held with the delegates from the Institute of Chartered Accountants in

England and Wales (ICAEW) at ICAB on Tuesday, 3 March 2015.

ICAB Council Member and Past President & Chairman of the ICAB-ICAEW Coordination Committee Nasir Uddin Ahmed FCA was in the chair while Vice Presidents A F Nesaruddin FCA, Kamrul Abedin FCA, Council Member & Past Presidents Md. Abdus Salam FCA, Md. Syful Islam FCA, Adviser Burhanuddin Ahmed FCA, Director (Technical) Mahbub Ahmed Siddique FCA, Senior Deputy Director (Professional Conduct) Md. Saiful Islam ACA were present in the meeting with ICAEW Justin West, Head of New Business Opportunities and Jonathan Worrell, Senior Business Development Manager.

A draft of “Road Map” covering the areas of activities for ICAB towards future collaboration and additional support between ICAB and ICAEW was placed in the meeting for information and

discussion. The ICAB informed the meeting that as per current ICAB-ICAEW MoU, ICAB would continue to maintain its qualification requirements and update its curriculum and learning materials in collaboration with ICAEW.

The meeting was also informed that ICAB’s curriculum has been updated with the changes of International Accounting and Auditing Standards . To reach at globally acceptable level of accountancy education and to comply with the IFAC education

requirements, ICAB has been following ICAEW curriculum. ICAB’s examination policy and its study materials are updation based on that curriculum. On the WB project, Justin West said in few days the responsible individual from ICAEW would officially communicate with ICAB. He expressed his hope that after having communication between ICAB and ICAEW responsible personnel on the World Bank Project, the issues relating to the expected deliverables from ICAEW would be resolved.

Meeting with ICAEW Delegates held

A

A video conferencing between Member countries of SAFA and World Bank on ‘Development of Business Plan to establish an effective Virtual Knowledge and Training Centre for Financial Reporting’ was held at WB, Dhaka office where as Member body of the forum ICAB participated in.

For smooth continuity of the Virtual Knowledge and the Training Centre for Financial Reporting, ICAB exchanged ideas through the video conferencing with different Member countries of SAFA.

A separate SAFA Committee on Virtual Knowledge and Training Centre for Financial Reporting should be formed

by the nominated responsible Individual from each Institute,the representatives from the ICAB opined. They suggested that to keep update about the Centre, an IT expert having technical knowledge on accountancy profession may be employed as responsible person who will also look after the said Centre.

Every Institute should have free accesses to Secretariat, IT and other related technical matters so that they could participate, contribute and get benefit to and from the Centre, they opined.

The video conferencing was held following a decision taken in SAFA Board Meeting held on 29 January 2015

in Bangalore, India. The meeting was apprised of steps for the development of Knowledge Centre upon receipt of the proposal from World Bank.

Masih Malik Chowdhury FCA President-ICAB and Board Member, SAFA, Md. Syful Islam FCA, Member Council & Past President and Dewan Nurul Islam FCA , Technical Advisor- SAFA & Member Council-ICAB, Mahbub Ahmed Siddique FCA Director (Technical)- ICAB and Yesmin Hosna ACA Deputy Director, Learning and Professional Development- ICAB participated in the video conferencing.

ICAB participated in Video Conferencing between SAFA Member Countries and World Bank

4

March 2015 No. 305

Dear Fellow Members,

ïf beel© 1422 †K Avgiv ¯^vMZ RvbvB |

ÒG‡mv, G‡mv, G‡mv †n ˆekvL |

Zvcmwbk¦vmev‡q gyg~ly©‡i `vI Dov‡q,

erm‡ii AveR©bv `~i n‡q hvK \

hvK cyivZb ¯§„wZ, hvK fz‡j-hvIqv MxwZ,

AkÖæev®ú my`~‡i wgjvK \

gy‡Q hvK Møvwb, Ny‡P hvK Riv,

AwMœ¯œv‡b ïwP †nvK aiv|

i‡mi Av‡ekivwk ﮋ Kwi `vI Avwm,

Av‡bv Av‡bv Av‡bv Ze cÖjqi kuvL

gvqvi KzÀwURvj hvK `~‡i hvK \Ó

Assalamu Alaikum and Greetings to you all,

The initiatives accompanied with perseverance and passions definitely bring success. The seeds which were sowed since taking the helm of office of the Institute would soon start giving results in near future. I believe, the liaison between the government’s organizations and other regulatory bodies with ICAB has been increased in many folds, ICAB’s attachment with those is rejuvenated through our extensive visits to the government’s offices and other regulatory bodies & stakeholders. The training sessions & workshops on relevant professional

issues conducted by ICAB for officers of other organizations are the outcome of our combined efforts and joint collaboration with stakeholders.

Historic ‘March’ always inspires us to fight against odds. The tale of Financial Reporting Act (FRA) is yet to end, yet confronting us. We must be aware of promoting the image of this noble profession. Our firm belief is that we would be successful in this endeavor.

I would always dedicate my passion and wisdom for the cause of the Institute. As President, one of my responsibilities is to keep you up-breast of the Monthly activities.

Activities of Month-March:

Members’ Conference on ‘Audit of Banks and Financial Institutions’

‘Audit of Banks and Financial Institutions’ was the subject of members’ conference of this month. It was organized on 30 March where Bangladesh Bank Deputy Governor Md. Abul Quasem was present as Chief Guest. Sabbir Ahmed FCA, Partner, Hoda Vasi Chowdhury & Co., Chartered Accountants presented the keynote paper and ICAB Past President Abdul Hafiz Choudhury FCA was the Session

President’sCommunication

March 2015

5

March 2015No. 305

Chairman with Vice President AF Nesaruddin FCA was in the Chair.

Citing some recent financial scandals in Bangladesh, Bangladesh Bank Deputy Governor Md. Abul Quasem lauded the role of CAs to ensure transparency & accountability of the Banks and other Financial Institutions.

Keynote speaker Sabbir Ahmed described precisely the Bank’s audit with background and examples. Members were captivated in his deliberations. The session chairman conducted the conference in a methodical means & concluded it in fine.

ICAB team in Nepal participated in SAFA Board Meeting, other Meetings & CAPA Events

As part of global bondage and to strengthen relationship with other CA Institutes, an ICAB team comprising Council Member & Past Presidents Muhammed Farhad Hussain FCA, Md. Syful Islam FCA, Md Abdus Salam FCA and Council Member Muhammad Farooq FCA which was led by me participated in SAFA Board meeting, other committee meetings. Also held were CAPA events and the meeting with the SAARC Secretary General in Kathmandu, Nepal.

The team passed very tight schedule in the 3-day visit to Nepal having meeting with the SAARC Secretary General and the Directors at SAARC Secretariat and with the meetings of South Asian Federation of Accountants (SAFA) like Small & Medium Practices (SMP) Committee, Task Force to implement BASEL-II in SAFA Countries, Education, Training & CPD Committee and 39th SAFA Board Meeting. Representing ICAB, our participation in ICAN, World Bank and CAPA joint roundtable on Public Sector Financial Management was interactive & result fetching.

Meeting with ICAEW Delegates

A meeting with the delegates from the Institute of Chartered Accountants in

England and Wales (ICAEW) held on 3 March 2015 at the Institute was another example of effective joint collaboration efforts with ICAEW.

A draft of “Road Map” covering the areas of activities for ICAB towards future collaboration and additional support between ICAB and ICAEW was placed in the meeting. ICAB expressed interest to maintain the ongoing collaboration with ICAEW. In this process ICAB would be absorbing qualification requirements, curriculum and learning materials of ICAEW.

ICAB Council Member, Past President & Chairman of the ICAB-ICAEW Coordination Committee Nasir Uddin Ahmed FCA was in the chair while Vice Presidents A F Nesaruddin FCA, Kamrul Abedin FCA, Council Members and our Past Presidents Md Abdus Salam FCA, Md. Syful Islam FCA, Adviser . Burhanuddin Ahmed FCA, Director (Technical) Mahbub Ahmed Siddique FCA, Senior Deputy Director (Professional Conduct) Md. Saiful Islam ACA were present during the meeting with ICAEW.

Another Meeting with ICAEW Delegates

Justin West and Jonathan Worrell held another meeting with ICAB team comprising Vice Presidents A F Nesaruddin FCA, Kamrul Abedin FCA, Past President & Council Members Md Abdus Salam FCA, Md. Syful Islam FCA, and myself in the Council Hall of the Institute on 2 March 2015. Nasir Uddin Ahmed FCA chaired the meeting.

In the meeting pre-dominant issues were among others, ICAB tax paper recognition by ICAEW, status of World Bank funded project of ICAB, issues on tuition by ICAB tutors towards ICAEW qualification, current MoU and pathway for membership of ICAB & ICAEW.

ICAB representatives shared their views and hoped for the wholehearted cooperation from ICAEW. It hoped to go ahead this year with excellent

development in professional matters, education and training. The ICAEW delegates assured all necessary supports regarding these matters.

About exemption of Taxation (BPT) of ICAEW for ICAB members, Mr. Justin said his Institute had positive view in giving exemption provided ICAB can develop a model exam paper of Tax-II immediately and submit the same for evaluation with ICAEW. The exemption may be given upon satisfactory evaluation results.

The meetings with the visiting ICAEW delegates were held as part of mutual cooperation in arena of academic & professional issues of the two Institutes.

ICAB Participated in Video Conferencing of SAFA Member Countries and the World Bank

A team of ICAB comprising technical advisor of SAFA & our Past President and Council Member Md. Syful Islam FCA, Council Member Dewan Nurul Islam FCA, Director (Technical)- Mahbub Ahmed Siddique FCA and Deputy Director (Learning and Professional Development) Yesmin Hosna ACA which was headed by me participated in a video conferencing between member countries of SAFA and the World Bank. The conference was organized focusing on ‘Development of Business Plan to establish an effective Virtual Knowledge and Training Centre for Financial Reporting’ at WB, Dhaka office on 13 March.

For smooth continuity of the virtual Knowledge and the training centre for Financial Reporting, ICAB exchanged its ideas through the video conferencing.

ICAB Training Wing gets New Name ‘ICPE’

ICAB Centre for Professional Excellence (ICPE) was renamed from this year which would impart trainings, conduct workshops & seminars on professional

6

March 2015 No. 305

issues anew & afresh. It will pick up recurrent discussions with stakeholders, regulators and plan new contemporary schemes of trainings in ICAB. The Centre is putting sustained & intensive efforts to organize a number of training and workshop events.

ICPE workshop on ‘Transfer Pricing Regulations & Practice’

ICAB Center for Professional Excellence (ICPE) organized a day long workshop on “Transfer Pricing Regulations & Practice" on 21 March, 2015 at its Auditorium. Chowdhury Amir Hossain, Member, International Taxes, NBR, GoB graced the inaugural occasion as Chief Guest.

The resource persons of the training were Aminur Rahman, Ex Member, Tax, National Board of Revenue (NBR), Sabbir Ahmed FCA, Partner, Hoda Vasi Chowdhury & Co. Chartered Accountants and Md. Sabbir Ahmed, Joint Director, Tax & Coordinator, Central Intelligence Cell, NBR. A total of 40 Members participated in the workshop. Certificates were awarded by me as President to the participants. Such programs will continue in months to come as large number of members is on demand for it.

ICAB facilitated Workshop for Accounting Professionals at IDRA

ICAB team facilitated and participated in workshop on ‘Accounting Standards and Insurance Laws on Annual Report of Life Insurance Companies’ organized by Insurance Development and Regulatory Authority (IDRA) for Chief Executive Officer (CEO), CFO, Head of Internal Audit and representatives from External Audit firms of Life Insurance Companies at its office on 09 March 2015. This workshop was the brainchild of ICAB.

Besides me, Vice President Kamrul Abedin FCA, Council Member Muhammad Farooq FCA and Past President & Council Member Md Abdus

Salam FCA were present. Fellow Members Md Iftekhar Hossain FCA, Dr. M Mosharraf Hossain FCA and M Redwanur Rahman FCA made their thoughtful presentations in the workshop.

ICPE Workshop on Code of Ethics for Professional Accountants

A day long workshop on" Code of Ethics for Professional Accountants" was held at ICAB Auditorium on 14 March. Resource persons of the workshop were Gopal Chandra Ghosh FCA, FCMA, Md. Rokonuzzaman FCA and Md. Harun Mahmud FCA. A total of 50 Chartered Accountants participated in the workshop. This is a continuous event of ICAB.

ICEP Training on "Advanced Excel and Financial Modeling"

An intensive training on "Advanced Excel and Financial Modeling” organized by ICPE has been started from 14 March. It will continue till 11 April 2015 at ICAB training room. ICAB President Masih Malik

Chowdhury FCA inaugurated the training. A total of 24 members of the Institute have enrolled in the training program.

Resource persons of the training are Md. Anowar Hossain Fakir, Robi Axiata Limited, Telecommunication Company and BUET graduated Engineer A. Z. M. Akhlaqur Rahman of same company.

Board Meeting of DMTCL

As the member of Board of Directors of DMTCL, I participated in 3rd Board Meeting of Dhaka Mass Transit Company Limited (DMTCL) at its meeting room on 16 March 2015.

ICAB Team met President, BAPLC

An ICAB team led by me met Tapan Chowdhury, President, Bangladesh Association of Publicly Listed Companies (BAPLC) at Square Center on 18 March 2015. We discussed various professional issues like quality

of audit, revised audit fees schedule and scope for improvement in professional services, Financial Reporting Act (FRA), practice of foreign firms in Bangladesh. ICAB award for best presented annual report also was discussed. Mr. Tapan Chowdhury took the discussion very seriously and assured us for necessary cooperation from his part. It was also attended by M/s Ajam J. Chowdhury, A. Matin Chowdhury, Farjana Chowdury among others.

Other members of ICAB team were Kamrul Abedin FCA, VP (Technical & Research), A F Nesaruddin FCA, VP (Training & Education), Muhammad Farooq FCA, Council Member & Chairman – PDC and Dewan Nurul Islam FCA, Council Member-ICAB.

Discussion Meeting on Improvement of Audit Quality of LGSP II

A discussion meeting on ‘Improvement of Audit Quality of LGSP-II’ was held on 02 March 2015 at ICAB’s auditorium. Representatives from review CA Firms participated in the meeting. They exchanged their experiences during the LGSP audits being done throughout the country. The meeting took notes of the discussions and suggestions from the representative firms on how to improve the audit quality under the project.

Meeting with BREB Chairman

An ICAB delegation comprising of myself & Vice President Kamrul Abedin FCA paid a courtesy call on Chairman, Bangladesh Rural Electrification Board Brigadier General Moin Uddin on 11 March 2015 at BREB Office.

Discussion regarding BREB Samiti audit, responsibility of auditors, training to accounting personnel, audit fees, VAT, investigation and disciplinary actions by ICAB were matters of the meeting.

The ICAB representatives discussed that preparing the financial statements are done by the BREB Management

7

March 2015No. 305

based on the accounting and auditing standards. ICAB also proposed that ICAB could arrange a coordination meeting between BREB officials and external auditors in this regard. We proposed to conduct training of REB personnel at ICAB’s management. The Chairman, BREB agreed with this proposal on principle.

BCACP Office Bearers greet ICAB President

A team of Bangladesh Chartered Accountancy Chhatra Parisad (BCACP) greeted me with flower bouquet at my office on 12 March 2015. I had a brief meeting with them. I have advised the students’ wing of the Institute for working hard to ensure congenial academic atmosphere at the campus and for better education of the students.

Rahman Rahman Huq, Chartered Accountants congratulates Newly Qualified CA

Rahman Rahman Huq, Chartered Accountants, congratulated the newly qualified chartered accountants from the firm at program organized on 14 March 2015. The program also discussed the performance of the students. On invitation I extended warm greeting to the newly qualified chartered accountants from RRH. I have delivered inspiring address for 23 students who passed in 2014.

ACNABIN Congratulates CA New Qualified

ACNABIN, Chartered Accountants organized a bi-annual review meeting on performance of ACNABIN students in C.A. Examination: Nov-Dec 2014 session on 19 March 2015 at its Training Hall. The program discussed the performance of the students of the firm. The newly qualified chartered accountants from ACNABIN in December session of 2014 were congratulated.

I attended the program as Chief Guest and delivered inspiring address for the students.

Meetings of Council and Standing & Non-standing Committees

The following meetings of the Council, Standing and Non-standing Committees and Sub-committees of ICAB were held during the month of March 2015:

- 1st Meeting of the Committee for Evaluation & Standardization of contract of Employees of ICAB was held on 03 March 2015 at 6.00 pm.

- 2nd Meeting of the Committee for Evaluation & Standardization of contract of Employees of ICAB was held on 12 March 2015 at 5.00 pm.

- 4-Member Sub-Committee on Land Purchase Issue was held on 08 March at 6.00 pm.

- 7-Members Articled Students Sub-Committee was held on 18 March 2015 at 6.00 pm

- 1st Meeting of the Technical Research Sub-Committee was held on 29 March 2015 at 7.30 pm.

- 5-Members Articles Students Sub-Committee was held on 31 March 2015 at 5.30 pm

Standing Committees:

- 5th Council Meeting was held on 10 March 2015 at 5.30 pm.

- 1st Meeting of the Investigation & Disciplinary Committee was held on 21 March 2015 at 5.30 pm.

- 3rd Executive Committee was held on 22 March 2015 at 2.00 pm.

- 6th Council Meeting was held on 22 March 2015 at 3.30 pm.

- 2nd Quality Assurance Board (QAB) Meeting was held on 23 March 2015 at 5.30 pm.

- 1st Meeting of the Articled Students Committee (ASC) was held on 24 March 2015 at 5.30 pm.

- 2nd Meeting of the Technical Research Committee (TRC) was held on 31 March 2015

Non-standing Committees:

- 1st Meeting of the Board of Studies was held on 07 March 2015 at 5.00 pm.

- 1st Meeting of the Small and Medium Practitioners (SMP) Committee meeting was held on 01 March 2015 at 5:30 pm.

- 1st Meeting of the Public Finance and Public Sector Accounting was held on 15 March 2015 at 5.30 pm.

- 3rd Taxation and Corporate Laws Committee (TCLC) meeting was held on 18 March 2015 at 6.00 pm.

- 2nd Editorial Board (EB) Meeting was held on 23 March 2015 at 5.30 pm.

Uptil March I tried to do my best. Not many times I could successfully reap best efforts & dedication of ICAB employees with few exceptions. They are used to deferring of works to next time. It often reminds me about a phrase—How quickly “will do it tomorrow” can turn to be “never doable”. I do not know how soon we can make our dream ICAB. But I believe without a permanent executive leader replacing the President’s voluntary time for one year for executing the Council & President’s vision, our aspired ICAB would remain a far cry.

Please accept my humble gratitude & warm regards.

Your President

Masih Malik Chowdhury FCA

8

March 2015 No. 305

meeting was held with the delegates from the Institute of Chartered Accountants in

England and Wales (ICAEW) on Monday, 2 March 2015 in the Council Hall of ICAB. Nasir Uddin Ahmed FCA, Member Council & Past President of ICAB and Chairman of the ICAB-ICAEW Coordination Committee presided over the meeting.

From the ICAB, other participants in the meeting were ICAB President Masih Malik Chowdhury FCA, Vice President A F Nesaruddin FCA, Kamrul Abedin FCA, Council Member & Past President Md. Abdus Salam FCA, Md. Syful Islam FCA, Advisor Burhanuddin Ahmed FCA, Director (Technical) Mahbub Ahmed Siddique FCA and Senior Deputy Director (Professional Conduct) Md. Saiful Islam ACA. ICAEW delegation was comprised of Justin West, Head of New Business Opportunities and Jonathan Worrell, Senior Business Development Manager.

The meeting was convened as part of mutual cooperation in the fields of academic & professional development between the two Institutes.

In the meeting pre-dominant issues were ICAB tax paper recognition by ICAEW, status of World Bank funded project of ICAB, issues on tuition by ICAB tutors towards ICAEW qualification, current MoU and road map for membership of ICAB & ICAEW.

ICAB President and other participants in the meeting shared their views and expected the wholehearted cooperation from ICAEW as the ICAB hopes it will

go ahead this year with excellent development in professional matters, education and training, examination, students and membership growth, quality assurance and professional conduct, national and international compliance like IFAC SMOs, international liaison, capacity and image building, etc. The ICAEW delegates assured that they would provide necessary supports regarding these matters.

The meeting expected some other needful supports from ICAEW like preparation of a module on training of trainers (TOT) on updated syllabus and study manuals, training to the trainers, examiners, and question setters.

The ICAEW delegates assured it will provide necessary supports under the World Bank project in accordance with the draft TORs shared with ICAEW in January 2015.

The meeting was also informed that as per current MoU, business planning: taxation (BPT) of ICAEW is not exempted for ICAB Members. In earlier

meetings, ICAEW suggested ICAB to develop the real Taxation-II exam. paper with sufficient coverage of tax planning. Accordingly ICAB considered the ICAEW guidance and sent the last two Taxation-II exam. papers to ICAEW. ICAEW have recognised the gradual improvement of the said exam. papers and further advised to continue it in the next exam.

ICAEW delegate Mr. Justin said that ICAEW had positive view in giving exemption in justifiable manner provided ICAB should develop a model exam. paper of Tax-II with an immediate effect and submit the same for evaluation with ICAEW. Upon the ICAEW’s evaluation result, it would consider the exemption.

Like the previous years, ICAB expressed willingness to conduct training on ICAEW advanced stage in collaboration with ICAEW this year. ICAB also requested the ICAEW delegates to let the ICAB continue with the tuition as the Institute is ICAEW approved tuition provider in Bangladesh having the option of online tuition and mock examination.

Meeting with visiting ICAEW Delegates for Effective Mutual Cooperation

A

9

March 2015No. 305

ICAB Officials visit ICA Pakistan

team of ICAB comprising its officials Md. Afzal Hossain,

Controller of Examinations and Md. Saiful Islam ACA,

Senior Deputy Director (Professional Conduct) visited the

Institute of Chartered Accountants of Pakistan (ICAP) for

discussing matters related to examinations, education and

quality assurance. In the photo frame they flanked by ICAP

Executive Director (Examination & Education) Syed Masood

Akhtar and Director (Education) Omair Jamal FCA posed in

front of ICAP on 25 March 2015 .

A

Saiful Islam ACA receives Appreciation for His Commendable WorkAt Management Committee (ManCom) meeting on 8 March 2015, ICAB Secretary AKM Rahmat Ullah FCA handed over token appreciation to Md. Saiful Islam ACA, Senior Deputy Director (PC), ICAB for his good job as the Member Secretary of IDC during 2014. The performance of Mr. Saiful was hailed by the Advisory Committee meeting held on 28 February 2015 and the decision had been taken to appriciate his performance in the meeting. On the occasion, ICAB President Masih Malik Chowdhury FCA and three other Vice Presidents A F Nesaruddin FCA, Kamrul Abedin FCA, Nasim Anwar FCA and ICAB Director (Technical) Mahbub Ahmed Siddique FCA were present.

BCACP Office Bearers greet ICAB President

A team of Bangladesh Chartered Accountancy Chhatra Parisad (BCACP) greeted ICAB President Masih Malik Chowdhury FCA with flower bouquet at latter’s office on 12 March 2015. Welcoming the team ICAB President held a brief meeting with them. Mr. Chowdhury advised the students’ wing of the Institute to work hard for ensuring congenial academic atmosphere at the campus. He also said students should give attention to their studies. He further said without hard work no body could be a Chartered Accountant..

CRC Annual Picnic 2015ICAB Members, CRC staff, their spouses and children participated in the Annual Picnic-2015 of Chittagong Regional Committee (CRC) -ICAB at Foy's Lake, Chittagong on 26 March 2015.Picnickers enjoyed the beauty of the lake, its surrounding hills and passed a wonderful day at Foy's Lake. Chittagong Regional Committee-ICAB arranges the picnic every year.

10

March 2015 No. 305

ICAB Center for Professional Excellence (ICPE) organized a day long workshop on "Transfer Pricing Regulations & Practice" for its Members on 21 march, 2015 at its auditorium. Chowdhury Amir Hossain, Member, International Taxes, NBR, GoB graced the occasion as chief guest. ICAB President awarded certificate to the participants at the end of the training.

Topics of workshop were : concept of transfer pricing, methods of determining arm’s- length price under transfer pricing: record keeping of international transaction, reporting obligation and assessment and penalties, etc. The

resource persons of the training were Aminur Rahman, Ex-Member, Tax, National Board of Revenue (NBR), Sabbir Ahmed FCA, Partner, Hoda Vasi Chowdhury & Co. Chartered

Accountants and Md. Sabbir Ahmed, Joint Director, Tax & Coordinator, Central Intelligence Cell, NBR. A total number of 40 Members of ICAB participated in the workshop.

ICPE organized Workshop on ‘Transfer Pricing Regulations & Practice’

CAB Centre for Professional Excellence (ICPE) has been initiated from this year to impart trainings,

workshops & seminars on professional issues anew & afresh. It will pick up recurrent discussions with stakeholders & regulators and plan new schemes of trainings in ICAB. The Centre is paying concret & intensive efforts to organize a number of training and workshop events.ICAB believes that workshop & training are the key elements of the

development approach which focuse on empowerment of human competence. Training has been introduced as an essential element of ICAB’s strategy to develop professional skill. Realizing the importancy of the training, ICAB has developed a Learning Division to address its own training needs as well as the needs from the government, non-government and other autonomous organizations regarding training provided by ICAB. ICAB is regulary organising the training

and workshop to equip its Members with rapidly changing career requirements in the present world. In order to respond appropriately to the diversity of organizational needs, the training wing-ICPE‘s specific objectives are to provide training on financial management and leadership skills, to provide capacity building support to Members and other financial organizations, to establish partnership and networks with other national, regional and international training institutes.

ICAB Training Wing gets New Name ‘ICPE’

“ICAB Center for Professional Excellence”, training wing of The Institute of Chartered Accountants of Bangladesh (ICAB) organized a day long workshop on" Code of Ethics for Professional Accountants" at ICAB’s auditorium on 14 March 2015.

Three parts of workshop i.e. General Application of the Code, Professional Accountants in Public Practice, and Professional Accountants in Business were conducted by Mr. Gopal Chandra Ghosh FCA, FCMA, Md. Rokonuzzaman FCA and Md. Harun Mahmud FCA.

A total number of 50 Chartered Accountants participated in the workshop.

ICAB President Masih Malik Chowdhury FCA awarded certificate to the participants.

Workshop on ‘Code of Ethics for Professional Accountants’

Training on ‘Advanced Excel and Financial Modeling’

An intensive training on ‘Advanced Excel and Financial Modeling’ by ICAB Center for Professional Excellence has been started from 14 March and will continue till 11 April 2015 at ICAB’s training room.

ICAB President Masih Malik Chowdhury FCA inaugurated the training. A total of 24 Members of the Institute are participating in the training program.

Resource persons of the training are Md. Anowar Hossain Fakir, Robi Axiata Limited, Telecommunication Company and BUET graduated Engineer A.Z.M. Akhlaqur Rahman of same company.

ICAB Council Member Gopal Chandra Ghosh FCA was present in the inaugural ceremony.

I

11

March 2015No. 305

Meeting on Audit Quality of LGSP-II held

A discussion meeting on ‘Improvement of Audit Quality of LGSP-II’ was held on 02 March 2015 at ICAB’s auditorium. Representatives from reviewing CA Firms largely attended the meeting. They exchanged their experiences about the audits of LGSP being carried out throughout country. The meeting took notes regarding suggestions from the representative firms which are necessary for improving the audit quality of the project.

NKA Mobin FCA, Managing Director & CEO of Emerging Credit Rating Ltd paid a courtesy call to ICAB President Masih Malik Chowdhury FCA at the latter’s office on 12 March. They discussed about professional issues. Mr. Chowdhury shared his views about ongoing initiatives of ICAB for the development of CA profession.

Private Channel Ekushey TV took an exclusive interview of ICAB Vice President AF Nesaruddin FCA, Partner, Hoda Vasi & Co., Chartered Accountants in live Ekushey Business program which was broadcast on 29 March 2015. Mr. Nesaruddin was speaking about present Capital Market’s trend, IPO pricing and nature of investors.

Ekushey TV took Interview of AF Nesaruddin FCA

Emerging Credit Rating Managing Director met

ICAB President

A K Chowdhury New Chairman of CRISLCRISL Board of Directors has elected Mr. Abul Khair Chowdhury (Enrl No. 52) as the Chairman of the company. The vacancy in the position was created at the demise of its founding Chairman Mr. Jamal Uddin Ahmad, FCA. Mr. A.K Chowdhury is one of the senior Partners of Hoda Vasi Chowdhury & Co., Chartered Accountants and involved with the CRISL activities since its inception as a sponsor shareholder and a promoter Director. Mr. Chowdhury is a senior Chartered Accountant and highly regarded

professional of the country and involved with many professional institutions. He is a Fellow of the Institute of Chartered Secretaries of Bangladesh, Founder President of the Institute of Internal Auditors-Bangladesh and Fellow of the Institute of Financial Consultants-Canada/USA.

Abdul Hafiz Choudhury New Chairman of Green Delta Insurance Company Limited

The Board of Directors of Green Delta Insurance Company Limited in its meeting held on 31 March elected Mr. Abdul Hafiz Choudhury FCA (Enrl No. 41) as Chairman.This is the first time in Bangladesh an Independent Director has been elected as the Chairman of any listed company.Abdul Hafiz Choudhury FCA, a former Senior Partner of Rahman Rahman Huq, Chartered Accountants (a member firm of KPMG International), was President of the Institute of Chartered Accountants of Bangladesh in 1988

and served the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) as president in 2009.He was also a Council Member of ICAB for nine years. He qualified as a Chartered Accountant from the Institute of Chartered Accountants in England and Wales in 1966.

Zahid Hossain appointed as Directorof Board of BAPEX

Mohammad Zahid Hossain FCA (Enrl No. 808) has been appointed as a Member of the Board of Directors of Bangladesh Petroleum Explora-tion and Production Company Limited (BAPEX) on 2 March 2015.

Earlier, he worked as Chief Financial Officer of many National Conglomerates and Multina-tional Companies.

He graduated in commerce from University of Dhaka and qualified as Chartered Accountant in 2002. He also obtained Advance Diploma in

Management Accounting from CIMA (UK).

Members’ Achievement

12

March 2015 No. 305

ICAB Team met President, BAPLC

ICAB President Masih Malik Chowdhury FCA along with other Members of the Council-ICAB met President, Bangladesh Association of Publicly Listed Companies (BAPLC) Tapan Chowdhury while other EC Members of BAPLC A Matin Chowdhury, Azam J Chowdhury and Farzana Chowdhury were present on the occasion. The meeting was took place at Square Center on 18 March 2015. Other Members of ICAB team were Kamrul Abedin FCA, VP (Technical & Research), A F Nesaruddin FCA, VP (Training & Education), Muhammad Farooq FCA, Council Member & Chairman – PDC and Dewan Nurul Islam FCA, Council Member-ICAB. Received warmly by the BAPLC President, ICAB team discussed on various professional issues with the President. The issues like quality of audit, revised audit fees schedule, improvement scope of professional services, Financial Reporting Act (FRA), practice of foreign firms in Bangladesh and ICAB award for best presented annual report were discussed in the meeting. BAPLC President took the discussion very seriously and assured to provide all necessary cooperations in these regards. With conclusion remarks by the President, the meeting was ended.

Rahman Rahman Huq, Chartered Accountants and ACNABIN, Chartered Accountants has congratulated the Chartered Accountants who newly qualified from the said CA Firms at separate programs on separate premises on 14 & 19 March 2015 respectively. ICAB President Masih Malik Chowdhury FCA graced both the occasions as Chief Guest.

Mr. Chowdhury handed over crests to the newly qualified Chartered Accountants and delivered inspiring & motivating speech for the students. The partners of the said firms were present in the program exchanged views on how to perform better in the examinations. The successful candidates also shared their experiences and advised the students on various aspects of C.A. studies & examinations.

Congratulations to Newly qualified Chartered Accountants

ICAB President attends Board

Meeting of DMTCL

ICAB President Masih Malik Chowdhury FCA participated in 3rd Board Meeting of Dhaka Mass Transit Company Limited (DMTCL) at its meeting room on 16 March 2015. Mr. Chowdhury is a Member of Board of Directors of DMTCL. In the meeting the Board discussed about various issues like ground burial of high voltage electric transmission line at Uttara Depot site, different contract packages, appointment of advisors for IDC and other advisors for other departments.

(Inset) ICAB President Masih Malik Chowdhury FCA giving speech. Newly qualified Chartered Accountants, Partners and students of Rahman Rahman Huq, Chartered Accountants seen in group photo session on 14 March 2015.

ICAB President Masih Malik Chowdhury FCA handing over a crest to newly qualified Charterer Accountant from ACNABIN, Chartered Accountants at its bi-annual performance review program on 19 March 2015.

13

March 2015No. 305

CAB delegation paid a Courtesy call to Chairman, Bangladesh Rural Electrification Board Brigadier

General Moin Uddin on 11 March 2015 at BREB Office. The Members of the delegation were ICAB President Masih Malik Chowdhury FCA and Vice President Kamrul Abedin FCA. Other participants of the meeting were BREB Controller Md. Faridul Islam, Directors Afzal-un-Nesa, and Mohammad Mobarak Hossain.

Discussion regarding BREB samiti audit, responsibility of auditors, training to accounting personnel, audit fees, VAT for service, investigation and disciplinary actions were took place during the meeting.

Discussing quality of BREB samiti audit and responsibility of auditors, the Controller-BREB gave a short brief on its selection process of audit firms. ICAB Vice President Kamrul Abedin FCA explained the role of auditor and the company management in preparing the financial statements. The ICAB representatives recommended that

based on the accounting standards BREB required to prepare the financial statements by the Management. ICAB also proposed that ICAB can arrange a coordination meeting between BREB officials and external auditors. Chairman, BREB agreed with this proposal.

The meeting discussed on the issue of training provided by ICAB on diversified subjects and ICAB proposed for training

to accounting personnel of BREB samiti. The Chairman, BREB appreciated the proposal and asked for a formal letter from ICAB. ICAB confirmed that the initiative will be taken as early as possible.

The meeting discussed on the issue of audit fees, issue of value added tax (VAT) on the services provided by Auditors, issue of investigation and disciplinary actions taken by ICAB.

Meeting with BREB Chairman

I

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

Name Effective Date

Mr. Md. Mahfuzul Hoque ACA (1681) 24 February 2015Assistant ManagerRahman Rahman Huq Chartered Accountants 9, Mohakhali C/A (11th & 12th floors)Dhaka-1212

Mr. Md. Muktar Alam ACA (1682) 24 February 2015Executive, Accounts Marico Bangladesh Ltd.House-1 (Level-4)Road-1, Sector-1, UttaraDhaka-1230

Name Effective Date

Mr. Manish Kanti Sarkar ACA (1683) 24 February 2015Assistant Manager Marico Bangladesh Ltd.House-1 (Level-4)Road-1, Sector-1UttaraDhaka-1230

Mr. Tofayel Ahmed ACA (1684) 24 February 2015Executive, Finance Marico Bangladesh Ltd.House-1 (Level-4)Road-1, Sector-1UttaraDhaka-1230

Mr. Md. Mostafijur Rahman ACA (1685) 24 February 2014House-31, Line-01Sector-07, PallabiDhaka

Congratulations

14

March 2015 No. 305

Name Effective Date

Mr. SM Ashfaqur Rahman ACA (1686) 24 February 2015ManagerACNABINChartered Accountants BDBL Bhaban (level-13)Kawran Bazar Commercial AreaDhaka-1215

Mr. SM Mudrahir Rahaman ACA (1687) 24 February 2014Management Trainee Metlife18-20 Motijheel C/ADhaka-1000

Ms. Naima Sultana ACA (1688) 24 February 2015Deputy Manager (Audit & Consultancy) ACNABINChartered Accountants BDBL Bhaban (level-13)Kawran Bazar Commercial AreaDhaka-1215

Mr. A.K.M Mesbahul Karim ACA (1689) 24 February 2015Assistant Vice President Group Reedisha 36, Tejgaon, Dhaka

Mr. Faisal Mahmud Sajeeb ACA (1690) 24 February 2015Senior Manager (Finance)Golden HarvestShanta Western TowerLevel-5, 186, 501 & 502Gulshan Tejgaon Link RoadTejgaon I/ADhaka-1208

Mr. Md. Kamruzzaman ACA (1691) 24 February 2015Assistant Manager (Transfer Pricing)Rahman Rahman Huq Chartered Accountants 9, Mohakhali C/A (11th & 12th floors) Dhaka-1212

Mr. Arif Hossain ACA (1692) 25 February 2015Manager (Audit & Consultancy) ACNABINChartered Accountants BDBL Bhaban (level-13)12 Kawran Bazar Commercial Area Dhaka-1215

Name Effective Date

Ms. Suniti Ahmed ACA (1693) 25 February 2015Assistant Manager Rahman Rahman Huq Chartered Accountants 9, Mohakhali C/A (11th & 12th floors)Dhaka-1212

Mr. Md. Moshiur Rahman ACA (1694) 25 February 2015Assistant Manager Rahman Rahman HuqChartered Accountants 9, Mohakhali C/A (11th & 12th floors) Dhaka-1212

Mr. Md. Zakir Hosen ACA (1695) 26 February 2015413 Gulbagh, (Ground Floor)Malibagh Dhaka

Mr. Afratul Kawsar ACA (1696) 26 February 2015Assistant Manager, Finance & Accounts bKash Limited6, Gulshan AvenueGulshan-1 Dhaka-1212

Mr. Md. Tareq Kamal ACA (1697) 01 March 2015Assistant ManagerRahman Rahman HuqChartered Accountants 9, Mohakhali C/A (11th & 12th floors) Dhaka-1212

Mr. Shishier Kanti Das ACA (1698) 01 March 2015Flat-204, 25/2 Free School StreetKathal BaganDhaka

Ms. Taskia Tamanna Islam ACA (1699) 01 March 2015Flat # 5A, House # 40, Road # 18 Sector # 07, Uttara Dhaka-1230

Ms. Sharmin Sultana ACA (1700) 02 March 2015House # 497, 1st Floor, Tower-BDiamond CondoYangon Myanmar

Mr. Md. Tarique Abdullah ACA (1701) 04 March 2015Deputy Manager ACNABINChartered Accountants BDBL Bhaban (level-13)Kawran Bazar Commercial AreaDhaka-1215

15

March 2015No. 305

Name Effective Date

Mr. Md. Al Mahmud ACA (1702) 04 March 2015Assistant Manager, Financial AccountingSanofi Bangladesh Ltd.6/2/A, SegunbagichaDhaka

Name Effective Date

Mr. Md. Anwar Hossain ACA (1703) 05 March 2015Assistant Manager, Finance & Accounts Omera Petroleum Ltd.CWS (C) G, Gulshan-1Dhaka-1212

Mr. Md. Jalal Uddin ACA (1704) 09 March 2015ManagerA. Qasem & Co.Chartered AccountantsGulshan Pink City, Suites # 01-03 (Level-7)Plot# 15, Road # 103, Block-CEN (C)Gulshan Avenue, 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 Date

Ms. Rokeya Khatun FCA (1150) 09 March 2015C/o. A. Matin & Co.Chartered Accountants 60/2, Naya PaltanDhaka-1000

Ms. Suraiya Zerin FCA (1084) 11 March 2015Citibank N.A.Bangladesh Branch8, Gulshan AvenueGulshan-1Dhaka-1212

Mr. Md. Nurul Alam FCA (1149) 16 March 2015General Manager Janata Bank Limited 110, Motijheel Co. AreaDhaka-1000

Mr. Md. Shahariar Ahmed FCA (1144) 19 March 2015Assistant General Manager (Finance & Administration)Leads Corporation Limited119-120, Motijheel C/AAdamjee Court Annex 2, 5th floorDhaka-1000

Permission to Start PracticeThe following Members have been permitted to start practice as Public Accountants with effect from the date mentioned against their names:

Name Effective Date

Mr. Sarwar Mahmood FCA (239) 01 January 2015Partner & Branch-in-ChargeShafiq Basak & Co.,Chartered AccountantsHouse-42 (1st floor), Road-01, BLock-ANiketon, Gulshan-1, Dhaka-1212

Mr. Ghulum Murshed Latiful 17 February 2015Quader FCA (760)PartnerA B Saha & Co.Chartered Accountants78, Motijheel C/A (6th floor)Dhaka-1000

Permission to Join as PartnerMr. Sarwar Mahmood FCA (239) has been permitted to form partnership and continue practice under the name and style of: Name Effective Date

M/s. Shafiq Basak & Co. 01 January 2015Chartered AccountantsNational House (1st floor)109, Agrabad Commercial AreaChittagong-4100

The other partners of the Firm: Mr. Md. Shafiqul Islam FCA (595), Mr. Sampad Kumar Basak FCA (625) and Mr. Md. Enayet Ullah FCA (412).

Mr. Ghulum Murshed Latiful Quader FCA (760) has been permitted to form partnership and continue practice under the name and style of:

Name Effective DateM/s. A B Saha & Co. 17 February 2015Chartered Accountants78 Motijheet C/A (6th floor)Dhaka-1000

The other partner of the Firm: Mr. Ashit Baran Saha FCA (387).

New BranchShafiq Basak & Co., Chartered Accountants has been permitted to open a New Branch at Dhaka with Mr. Sarwar Mahmood FCA (239) as Partner and Branch In-charge to practice as Public Accountant. Details are as follows:

Name and Address Effective DateShafiq Basak & Co. 17 February 2015Chartered AccountantsHouse-42 (1st floor), Road-01, BLock-ANiketon, Gulshan-1, Dhaka-1212

Source: Secretariat-ICAB

16

March 2015 No. 305

Name of Resource Persons(Sections- F & G of PS-KL-11th Batch)

Mr Mohammed Tofazzul Hussain FCA

Mr Mohammad Aminul Hoque FCA

Mr Md Kishlur Rahman ACA

Mr Obaidur Rahman FCA

Mr Md Humayan Kabir FCA

Mr Mahmudur Rahman ACA

Mr Chitta Ranjan Halder FCA

Mr Dipok Kumar Roy ACA

Mr Md Akber Hossain Khan ACA

Mr Sujan Kumar Saha ACA

Mr. Ruhul Amin ACA

Mr Faruq Ibn Hossain ACA

Mr Zafar Ullah Khan FCA

Mr Shibly Ahmed FCA

Mr Muhammad Shariful Islam Shiplu FCA

Mr G M Latiful Quader FCA

Mr Md Abdullah-Al-Amin ACA

Mr Nazmul Hussain Siddique

Mr Mohammad Shibbir Hossain FCA

Mr Shah Md Mohin Uddin ACA

Mr Md Shihabur Reza ACA

Mr Mostak Ahmmed FCA

Mr Md Abdul Ahad ACA

Mr Sajib Sarkar ACA

Mr Md Abdur Razzaque ACA

Mr Md Shahariar Ahmed ACA

Ms Mashruna Alam Chowdhury ACA

Mr Mohammad Monowar Hossain ACA

Mr K S Omar Faruk ACA

Mr Md Sayduzzaman Tuhin ACA

Mr Khairul Basher FCA

Mr Abdullah-Al-Mamun FCA

Mr Md Jasim Uddin ACA

Mr Miltan Bepari ACA

Mr Abdulla-Al-Mahmud FCA

Professor Dr ASM Hossain Tayiab FCA

Name of Resource Persons(Sections- A-C of PS-AL-10th Batch)

Mr Mohammed Tofazzul Hussain FCA

Mr Abdullah-Al-Mamun FCA

Mr Anwaruddin Chowdhury FCA(GT)

Mr Obaidur Rahman FCA

Mr Mohammad Redwanur Rahman FCA

Mr Anup Kumar Sarker ACA

Mr Dewan Nurul Islam FCA

Mr Md Kahir Mahmud FCA

Mr Masud Khan FCA-India (GT)

Mr Shaheduzzaman Choudhury FCA

Mr Mohammad Imtiaz Khan FCA

Mr K M Atiqul Islam ACA

Mr Mahmudul Hasan Khusru FCA

Mr Abdul Khalek FCA (VATportion)

Mr Md Amirul Islam FCA

Mr Abdulla-Al-Mahmud FCA

Mr Md Masud Parvej ACA

Mr Md Mahsudur Rahman FCA

Mr Mustaq Ahammed FCA

Mr Gopal Chandra Ghosh FCA

Mr Sabbir Ahmed FCA

Mr AH Mostafa Kamal Khan

Mr Md Shafiqul Alam FCA

Mr Sayeed Ahmed FCA

Mr Md Akbar Hossain FCA

Mr Mohammed Forkan Uddin FCA

Mr Mohammad Abdul Ohab Miah FCA (VAT portion)

Mr Md Din Islam Miah FCA

Mr Mohammed Sabir Ahmed FCA

Dr Jakerul Abedin (GT)

Mr Shamim -Al-Mamun ACA

Mr Mohammad Abdul Matin

Mr Md Fokrul Islam FCA

Mr MAKH Hasif Sowdagar FCA

Mr Md Al-Amin Siddiki ACA

Mr Md Mahamud Hosain FCA

Mr Muraheb Malik Chowdhury ACA

Mr Shaheduzzaman Choudhury FCA

Mr Shahriar Istiaq Halim FCA

Mr Bibhuti Bhushan Biswas FCA

Mr Anup Kumar Mukherjee FCA

Mr Zakir Hossain FCA

Mr Ranjan Kumar Bhowmik FCMA

Mr Md Reajul Islam FCA (VATportion)

Mr Imtiaz Lutful Baset FCA

Mr Md Selim Reza FCA

Mr Syed Mohammed Kowser Hossain (GT)

Professor Dr ASM Hossain Tayiab FCA

Mr Palash Mollick

Name of Resource Persons(Sections- D of AS-9th Batch)

Mr Gopal Chandra Ghosh FCA

Mr Mohammad Mehdi Hasan FCA

Mr Mohammed Forkan Uddin FCA

Mr Anwaruddin Chowdhury FCA(GT)

Mr Sabbir Ahmed FCA

Mr Snehsish Barua FCA

Mr Abdullah-Al-Mamun FCA

Mr Md Kishlur Rahman ACA

Mr Sk. Md Tarikul Islam ACA

Mr Masud Khan FCA-India (GT)

Mr Sayeed Ahmed FCA

Visiting Faculties(for Ongoing Session)

Name of Visiting FacultiesMr. Masih Malik Chowdhury FCA

Mr. A F Nesaruddin FCA

Mr. ABM Azizuddin FCA

Mr. Anwaruddin Chowdhury FCA

Mr. Md Syful Islam FCA

Mr. Md Abdus Salam FCA

Mr. Gopal Chandra Ghosh FCA

Mr. Dewan Nurul Islam FCA

Mr. Masud Khan FCA-India

Resource Persons: ICAB Academic Campus (Session: March-May 2015 )

17

March 2015No. 305

Source: ICAB Campus

Mr. Abdul Khalek FCA

Mr. Md Amirul Islam FCA

Mr. Sabbir Ahmed FCA (E-770)

Mr. Mohammad Mehdi Hasan FCA

Mr. Ajit Kumar Paul FCA

Dr. Jakerul Abedin

Mr. Md Jehad Uddin

Mr. Syed Mohammed Kowser Hossain

Mr. A H Mostafa Kamal Khan

ICAB Academic Campus NewsThe Classes of Professional

Stage-Knowledge Level (11th Batch,

Sections: F & G), Application Level

(10th Batch, Sections: A -C) and

Advanced Stage (9th Batch, Section:

D) have started from 01 March 2014

for Examination Session: May-June

2015 at ICAB Academic Campus.

The session will be continued up to

28 May 2015. There are 447

students and 96 teachers for the

Class Session: March-May 2015.

The cumulative number of students

of ICAB new curriculum has come to

8,511 till March 27, 2015.

By this time, a program on Case

Study for Advanced students has

started from 06 March 2015 at ICAB

Academic Campus. There are 71

students in this session. The class

will be concluded by 30 April 2015.

ICAB President Masih Malik

Chowdury FCA and Vice President

(E&T) A F Nesaruddin FCA

inaugurated the session. The

President of ICAB welcomed the

teachers & students and sought their

full support and cooperation for the

greater interest of CA Profession.

He also said that teachers should

give big efforts to develop students’

quality. He gave a motivational

speech for the students for

successful completion of their

examinations and assured all his

cooperations for the benefit of the

students.

The Vice President (E&T) expressed

his satisfaction over the percentage

of attendances of students and

appreciated the teachers and

students for their active participation

in the session. He requested the

teachers for providing lecture’s

course outline to the students and

suggested for modification of class

synopsis from the study manuals

and books. Medium of instruction in

the classes should be english

language and the lectures &

examination should be case oriented

he added. He emphasised on

creating awareness among the

students for participation in the

classes regularly.

On the other hand, a-meeting of

Professional Stage-Knowledge

Levels Subjects’ Class Teacher

(Assurance, Accounting, and

Taxation-1& IT Knowledge) was held

on 7 March 2015 at ICAB Council

Hall.The session was chaired by A F

Nesaruddin FCA, Vice President (E

&T)-ICAB. Mr. Nesaruddin said

welcomed the feed-back from

participants. Teachers exchanged

their views , ideas, thoughts and

problems regarding the CA firms,

academic campus, on-going

education system and examination

matters and the stressed for further

improvement. The Vice President

(E&T) assured the session that

findings from the session is being

recorded and will take necessary

steps accordingly for improvement of

CA education.

The new session for the students of

Professional Stage-Knowledge

Level (12th Batch) will be started

from 01 June 2015 at ICAB

Academic Campus. A Notice has

already been issued in this regard

and all the concerned students are

advised to enroll for the classes by

10 May 2015, and to appear in the

classes as per schedule.

The program and session have been

organised under the supervision of

the Vice President (Education &

Training)-ICAB A F Nesaruddin FCA

with the guidance of the Chairman

of Board of Studies-ICAB ABM

Azizuddin FCA , President- ICAB,

Mr. Masih Malik Chowdhury FCA

and Co-Chairman Md Abdus Salam

FCA.

Campus News Cont’d

Announcement(Classes of Next Session)

The New Session (June-August 2015)

for the students of Professional

Stage-Knowledge Level (12th Batch)

will start from 01 June 2015 at ICAB

Academic Campus. A Notice has

already been issued in this matter,

and all concerned students are

advised to enroll for the classes by 10

May 2015 at ICAB Academic Campus.

18

March 2015 No. 305

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: secretary@icab.org.bd, Website: www.icab.org.bd

Chittagong: HBFC Building (3rd Floor), 1/D Agrabad Commercial Area, Chittagong, Bangladesh, Tel: +880-31-724674, Fax: 880-31-2523579, E-mail: icabctg@yahoo.comUK Chapter: 782, Garratt Lane, London SW17 0LZ, UK, Tel: +44 20 86822905, Fax: +44 2087676097, E-mail: frahman101@aol.comNorth American Chapter: 3244 Lawrence Avenue East, Scarborough ON MTH TA4, Ontario, Canada, Tel: +41 64395557, E-mail: awahid@ncn.ca

team of ICAB facilitated and participated in workshop on ‘Accounting Standards and

Insurance Laws on Annual Report of Life Insurance Companies’ organised by Insurance Development and Regulatory Authority (IDRA) for Chief Executive Officer (CEO), Chief Finance Officer (CFO), Head of Internal Audit and representatives from External Audit firms of Life Insurance Companies at its office on 09 March 2015. This workshop was the brainchild of ICAB and it was the facilitator of the workshop.

ICAB Presient Masih Malik Chowdhury FCA,Vice President Kamrul Abedin FCA, Council Member Muhammad Farooq FCA, Past President & Council Member Md Abdus Salam FCA, Fellow Member Md Iftekhar Hossain FCA, Dr. M Mosharraf Hossain FCA, M Redwanur Rahman FCA participated in the workshop.

Mohammad Sohrab Uddin AIA, Chairman, Shadharan Bima Corporation was the Special Guest.

The workshop was segregated into in two sessions. At first session inaugurated by M. Shefaque Ahmed, Chairman of IDRA, Masih Malik Chowdhury FCA, President - ICAB in his speech said that both life insurance companies and external auditors need

to work in accordance with regulations. In this regard ICAB could arrange training and workshop for CEO, CFO, Head of Internal Audit and External Auditors in future. Asked for formal letter from IDRA regarding their observations against the practicing firms and Members of ICAB, he said ICAB’s Investigation and Disciplinary Committee (IDC) will investigate the matters and take necessary actions. He also suggested that if IDRA wants, ICAB could provide technical assistance to

IDRA for developing rules and regulations relating to Financial Statements. About allegation against Members of ICAB, he said, IDRA could send its investigation report to ICAB for actions. He also urged IDRA for setting up criteria for harmonized designation of life insurance companies.

Resource persons from ICAB had made presentations in the Second Session of the Workshop followed by floor discussion.

ICAB facilitated Workshop for Accounting Professionals at IDRA

Masih Muhith Haque & Co. New Corresponding Firm of RSM

InternationalMASIH MUHITH HAQUE & CO., Chartered Accountants in practice since 1985 has been appointed the Corresponding Firm of RSM International Network in Bangladesh. RSM International headquartered in UK, is the World’s 7th largest network of audit, tax and advisory firms. It is the 6th largest global provider of tax services also. The network has fully Independent Members and Correspondent firms in over 113 countries. The network of firms has a combined total staff of over 37443 in more than 113 countries. It involves over 3279 partners in 732 offices. RSM has reported a 20% growth in revenue in 2014.

Training and Workshop in AprilThe tentative schedule of the ICPE organized Trainings and Workshops in April 2015 are furnished hereunder:

A

ICAB President Masih Malik Chowdhury FCA (Left) and Council Member & Past President Md Abdus Salam FCA (Right) at IDRA Workshop

Source: ICAB Centre for Professional Excellence (ICPE)

Sl. No. Title Date1. Workshop on Transfer Pricing

Regulations & Practice04 April 2015

2. Training on Advanced Excel and Financial Modeling (7th session)

10 April 2015

3. Training on Advanced Excel and Financial Modeling (closing session)

11 April 2015

4. Workshop on Code of Ethics 17 April 2015 5. Workshop on Transfer Pricing

Regulations & Practice18 April 2015