president comm sep-2012.pdf - ICAB

The Institute of
Chartered Accountants
of Bangladesh
[Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)]
CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh
that collaboration with the NBR in the knowledge area will be very fruitful for them as well as
for our institute and the profession.
Discussion Meeting on Income Tax Ordinance and Proposed Act
A discussion meeting with the Chairman, Members and other high officials of National Board
of Revenue (NBR) was held on 12 September 2012 evening at ICAB Auditorium, Dhaka. Mr.
Syed Aminul Karim, Member NBR presented a paper on 'A Comparison between Income
Tax Ordinance 1984 and proposed Direct Tax Act 2012'. Mr. Karim explained the
changes made in the proposed Direct Tax Act 2012 which has been said to come into force
from 01 July 2012. Dr. Nasir Uddin Ahmed, Chairman NBR, Mr. Aminur Rahman and Md
Alauddin, Members of NBR were present in the discussion Meeting. Under the
Chairmanship of Mr. Md. Humayun Kabir FCA, Member Council & Past President ICAB,
senior ICAB members including Council members and Past Presidents participated in the
discussion meeting. Mr. Masih Malik Chowdhury FCA, Member Council-ICAB & Chairman,
Professional Development Committee of the Council-ICAB, Past Presidents Mr. A K
Chowdhury FCA & Mr. M A Baree FCA, Special Assistant to Hon'ble Prime Minister, GoB
Mr. Ferdous Ahmed Khan FCA took part in the discussion meeting and gave some valuable
suggestions on the proposed Direct Tax Act 2012.
Meeting with the World Bank Officials
A meeting with the World Bank Officials was held on 12 September 2012 at ICAB Office,
Dhaka. I along with Mr. N I Chowdhury FCA, Secretary-ICAB, Dr. Mahfuzul Hoque, Director
LPD-ICAB, Mr. Mahbub Ahmed Siddique FCA, Sr. Deputy Director (Technical)-ICAB
participated in the meeting. 4-Member World Bank team headed by Ms. Suraiya Zannath
Khan FCA, Sr. Financial Management Specialist, World Bank participated in the meeting.
Other representatives of the World Bank were Mr. Md. Aminur Rahman Chowdhury FCA,
Financial Management Consultant, Mr. Iftekhar Hossain FCA, local Consultant and Mr. B.B.
Pandit, Deputy CAG, OCAG India and Consultant of the World Bank. We discussed the
progress of the WB financed project on "Promoting Public Private Partnership for
Improved Audit Quality Assurance” and the possibility to organize a Roundtable Forum
on this project in the first week of November 2012 where representatives of OCAG,
Bangladesh, The World Bank, NAO UK and ICAEW are expecting to participate.
ICAB delegates participated SAFA Board and other Meetings in Kathmandu
23 rd Meeting of SAFA Board was held in the evening 14 September 2012 at Hotel Radisson
Kathmandu, Nepal. 4-Member ICAB delegation headed by myself participated in the 23 rd
SAFA Board Meeting and various Committee meetings held on 14 September 2012. Other
members of ICAB delegation were Mr. Md. Abdus Salam FCA, Vice President ICAB, Mr. Md.
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Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399
E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd

The Institute of
Chartered Accountants
of Bangladesh
[Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)]
CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh
Humayun Kabir FCA, Member Council & Past President ICAB and Dr. Abu Sayed Khan
FCA, Member Council ICAB.
In addition to Board Meeting, following Task Force and Committee meetings were held on 14
September 2012 and ICAB nominated members attended concerned Task Force/Committee
meetings:
• Task Force to address Risk and Challenges to Accountancy Profession in SAFA
Region
• SAFA Committee on Professional Accountants in Business(PAIB)
• SAFA Committee on Small and Medium Practices(SMP)
• Committee on Governmental and Public Sector Enterprises Accounting
Md. Humayun Kabir presented Technical paper in the SAFA Seminar in Kathmandu
Mr. Md. Humayun Kabir FCA, Member Council & Past President ICAB and Chairman,
Taxation & Corporation Laws Committee of the Council-ICAB presented a Technical Paper
on "An Overview of DTAA and Arrangement amongst SAARC Nations" in the SAFA
International Seminar held on 15 September 2012 in Kathmandu, Nepal. Mr. Kabir’s paper
was well appreciated in the Seminar.
Organized by ICA Nepal, the one day Seminar titled ‘International Taxation & Transfer
Pricing” was divided into five technical sessions - ‘Common Agenda of International
Taxation in SAARC Region’, ‘Legislation and recent development in international taxation in
Nepal’, ‘DTAA: An Overview DTAA and Arrangement Amongst SAARC Nations’, ‘Transfer
Pricing: Policies & Practical Considerations’ and ‘International Tax Practices: Opportunities &
Challenges’. Resource persons from SAFA countries presented their technical papers in the
Seminar. Good number of professional Accountants from local and SAFA countries including
ICAB delegates attended the Seminar.
Members’ Conference in Chittagong
A Members’ Conference on “Amendments made in the Income Tax Ordinance 1984 by
Finance Act, 2012” was held on 15 September 2012 at ICAB Chittagong Regional Office.
Mr. Apurba Kanti Das, Commissioner of Taxes, Taxes Zone-2, Chittagong graced the
occasion as the Chief Guest. Mr. Md. Shaifur Rahman Mazumder FCA, Chairman, CRC-
ICAB presented the keynote paper. Mr. Showkat Hossain FCA, Vice-President ICAB &
Resident Partner, Hoda Vasi Chowdhury & Co., Chartered Accountants summing up the
Members’ Conference as the Session Chairman. A good number of members in Chittagong
Region were present in the seminar and many of them participated in the floor discussion.
Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399
E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd
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The Institute of
Chartered Accountants
of Bangladesh
[Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)]
CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh
Election Commission Activities
Two meetings of Election Commission were held this month to proceed with the Election
schedule. As per ICAB Bye-Law 15(3) and Bye-Law 16(1), Election Commission has already
published the final Voter list along with Election Programme on 16 September 2012. A total
of 1251 members from Dhaka Regional Constituency and 114 members from Chittagong
Regional Constituency enlisted their names in the final Voter list.
Meeting with the C&AG on WB Financed Project
A meeting between C&AG, World Bank Representatives and ICAB team on the World Bank
financed project, “Promoting Public Private Partnership for Improved Audit Quality
Assurance” was held at the Office of the Comptroller & Auditor General (OCAG) Bangladesh
on 19 September 2012. Under the Chairmanship of Mr. Ahmed Ataul Hakeem FCMA,
Hon’ble C&AG Bangladesh, Senior officials of OCAG Mr. Md. Amir Khasru, Deputy C&AG
(Senior), Mr. Manindra Chandra Datta, Deputy C&AG (A&R), Mr. SM Rezvi, Additional
Deputy CAG (Admin.), Mr. AKM Jashim Uddin, DG-FAPAD, Mr. Farmeen Mowla, Director-
PAD participated the meeting. I along with Mr. Md. Abdus Salam FCA, Vice President ICAB,
Mr. N I Chowdhury FCA, Secretary-ICAB, Dr. Mahfuzul Hoque, Director LPD-ICAB and Mr.
Mahbub Ahmed Siddique FCA, Sr. Deputy Director (Technical)-ICAB participated in the
meeting from ICAB. 4-Member World Bank team comprising of Ms. Suriaya Zannath FCA,
Sr. Financial Management Specialist, Mr. Aminur Rahman Chowdhury FCA, Financial
Management Consultant, Mr. B. B. Pandit, Deputy CAG of OCAG India & Consultant World
Bank and Mr. Iftekhar Hossain FCA, Local Consultant World Bank participated in the
meeting.
In the meeting, Ms. Zannath explained the expected outcome of the project to develop an
agreement framework (MOU) between the ICAB and the OCAG with formulated
mechanisms to minimize the knowledge gap of the professionals involved in audit practice in
both the sectors. Ms. Zannath also informed that a Policy Note would be initiated and
disseminated during the second week of November 2012 along with a Roundtable Forum to
devise an agreement framework between the ICAB and OCAG based on the Policy Note
and the shared experience of the knowledgeable participants in the program. Besides,
ICAEW is already agreed to participate in the Roundtable and NAO, UK is expected to be
there.
Hon’ble C&AG gave a patient hearing and offered his cordial support and cooperation to
ICAB and the World Bank for implementation of the project. Mr. Hakeem also opined the
meeting that a suitable agreement between ICAB and OCAG may be signed to introduce a
special arrangement of OCAG Auditors to become the Professional Chartered Accountants
of Bangladesh which would further strengthen the cooperation between ICAB and OCAG.
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Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399
E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd

The Institute of
Chartered Accountants
of Bangladesh
[Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)]
CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh
ICAB-OCAG Working Group Meeting
A follow up meeting with the designated higher officials of OCAG Bangladesh and the ICAB
was held on 23 September 2012 in ICAB. 4-member ICAB team comprising of Mr. Md.
Abdus Salam FCA, Vice President-ICAB, Mr. N I Chowdhury FCA, Secretary-ICAB, Dr.
Mahfuzul Hoque, Director LPD-ICAB and Mr. Mahbub Ahmed Siddique FCA, Sr. Deputy
Director (Technical)-ICAB participated in the meeting. The meeting was presided by Mr. Md.
Abdus Salam FCA, Vice President-ICAB. On behalf of the OCAG, Mr. AKM Jashim Uddin
FCMA, Director General FAPAD-B, Mr. Mohammad Zakir Hossain, Project Director-SPEMP,
Ms. Farmeen Mowla, Director-Performance Audit, Mr. Md. Saidur Rahman Sharker, Deputy
Director, Commercial Audit participated in the meeting.
During discussion, OCAG officials gave emphasis on the issue of training and academic
endeavour of the OCAG Professionals and agreed to disseminate the detailed education
and training process to the ICAB working team. The ICAB team assured to provide all the
relevant materials to the OCAG working team to create a better understanding of each other.
OCAG officials also gave importance to sign an agreement between OCAG and ICAB on
certain components like conducting mutual training to share the understanding and
professional experience among the professionals of the two Institutions to enrich the
knowledge of audit quality of the two sectors. They also urged to create convenience for the
OCAG Professionals to become the member of ICAB through appropriate training and
required professional exam arrangements. ICAB team explained the overall objectives and
possible outcome of the Project titled ‘Promoting Public Private Partnership for Improved
Audit Quality Assurance’ and appreciated the open discussion among the participants of the
meeting.
Md. Abdus Salam participated GRI South Asia Conference in New Delhi
Mr. Md. Abdus Salam FCA, Vice President of the Institute of Chartered Accountants of
Bangladesh (ICAB) participated at the first 'Global Reporting Initiative(GRI) South Asia
Conference: Sustainability Reporting for a Sustainable Economy' held on 26 September
2012 at Park Hotel, New Delhi, India.
Organized by GRI’s Focal Point India, in collaboration with the South Asian Federation of
Accountants (SAFA) the Institute of Company Secretaries of India (ICSI), and the Centre for
Responsible Business (CRB), the Conference aimed to contribute to GRI’s mission to make
sustainability reporting standard practice. The objective of the Conference was to unite GRI’s
South Asian network in the run-up to the 2013 GRI Conference to be held in Amsterdam in
May 2013.
Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399
E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd
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The Institute of
Chartered Accountants
of Bangladesh
[Established under the Bangladesh Chartered Accountants Order, 1973 (President’s Order No. 2 of 1973)]
CA Bhaban, 100 Kazi Nazrul Islam Avenue, Dhaka-1215, Bangladesh
The Conference featured a Master Class on GRI and its Sustainability Reporting
Framework. The Conference was closed at a networking reception where the delegates from
South Asia met with the high level members of GRI’s Governmental Advisory Group, which
held its biannual meeting in New Delhi the following day. Conference delegates agreed on
the importance of sustainability reporting in today’s increasingly volatile and highly diverse
world, and its significance at this point in time for South Asia
Standing and Other Committee Meetings
The following Standing and other Committees meetings were held in September, 2012:
Standing Committees
• 14 th Meeting for 2012 of the Council-ICAB was held on 1 September 2012 at 2.00 p.m.
• 15 th Meeting for 2012 of the Council-ICAB was held on 22 September 2012 at 4.00 p.m.
Non-Standing Committees
• 5th meeting of the RCPAR of the Council-ICAB was held on 09 September 2012 at 5.30 p.m.
• Meeting of the 3-Member Sub-Committee of the Articled Students’ Committee of Council
ICAB was held on 20 September 2012 at 5.00 p.m.
• 6th meeting of the RCPAR of the Council-ICAB was held on 26 September 2012 at 5.30 p.m.
Major outcome of the reported meetings will be made available in monthly ICAB News Bulletin.
Transparency is the key to improve all kinds of services. It is in this view that we have
endeavoured to share all information with membership at large. Reporting of certain matters
should not be seen as signs of weakness of the system, but as an effort to improve upon the
same in a timely and effective manner.
With the best of regards, as always
Sincerely yours,
Md. Syful Islam FCA
Dhaka, October 16, 2012
Phones: 02-9129057, 02-9112672, 02-9115340, 02-9117521, 02-9137847, 02-8189253-7 ICAB Campus: 02-9660882 Fax: 880-2-8119399
E-mail: president@icab.org.bd secretary@icab.org.bd, web: www.icab.org.bd
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