CONTENTS · 2019-12-04 · Name of Division Name of Functional Departments under the Divisions...

ANNUALREPORT2018

TABLE OF

CONTENTSNotice of AGM

About ICMAB

Vision and Mission

Past Presidents

National Council and Office Bearers

President’s Statement

REPORT OF THE COUNCILCouncil and Committees

Members’ Meeting

Enactment of Cost and Management ACT 2018

Education, Examination and Student Affairs

Liaison with Government and other Stakeholders

Conference, Seminar, Workshop and Training

Representation in Regional and Global Forums

Governance and Administration and Infrastructure

Partnering with Entrepreneurs and Employers

Cost Audit and Professional Service Activities

Research and Publications

Role in National Economic Issues

CMA Branding

Media Coverage

We Lost

Members’ Update

Members’ Welfare

Branch and Chapter Activities

Accounts and Others

AUDITED ACCOUNTSAuditors’ Report to the Members

Statement of Financial Position

Statement of Profit or Loss and Other Comprehensive Income

Statement of Changes in Fund

Statement of Cash Flows

Notes to the Accounts

MANAGEMENT OF THE INSTITUTE

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Notice of the

Annual General Meeting

47th

AGENDA1. Toconfirmtheminutesofthe46thAnnualGeneral

MeetingheldonDecember29,2017.

2. ToconsidertheAnnualReportoftheCouncilandthe

AnnualAccountsoftheInstitutefortheyear

2017-2018togetherwiththeAuditors’Reportthereon.

3. Toappointtheauditorsfortheyear2018-2019andfix

theirremuneration.

4. Totransactanyotherbusinesswiththepermissionof

theChair.

Noticeisherebygiventhatthe47thAnnualGeneralMeetingoftheInstituteof

CostandManagementAccountantsofBangladesh(ICMAB)willbeheldonFriday,

December28,2018at10:00a.m.atICMABRuhulQuddusAuditorium,ICMABhaban,

Nilkhet,Dhakatotransactthefollowingbusinesses:

Md. Abdur Rahman Khan FCMASecretary

3ANNUAL REPORT 2018

About

ICMAB

The InstituteThe Institute of Cost and Management Accountants of Bangladesh (ICMAB) is the national body of the professional Cost and Management Accountants of Bangladesh established with the prime objective of promoting and regulating the Cost and Management Accounting profession in the country, the Institute offers education and training to the students interested to pursue career in this field and provides highly recognized CMA degree on fulfillment of requisite qualification. The Institute undertakes research in relevant fields and is the sole authority to issue practicing license to its members.

Legal StatusICMAB is a statutory organization constituted by the Government under The Cost and Management Accountants Ordinance 1977 (Ordinance No Llll of 1977) and regulated under the Cost and Management Accountants Regulations 1980 (as amended up to date). Thereafter The Cost and Management Accountants Ordinance 1977 has been replaced by the “Cost and Management Accountants Act 2018” passed by the parliament on 29th October 2018. It is member of leading regional and global accounting bodies including International Federation of Accountants (IFAC).

4 ANNUAL REPORT 2018

Legacy of the InstituteTheInstitutehasalongheritageofrenderingprofessionalservicestothenation.ThejourneyofthegloriousprofessionofCostandManagementAccountingbeganinthepre-independentBangladeshwiththefoundingofabranchofThePakistanInstituteof IndustrialAccountants(PIIA) in1958.Aswestartedafresh journeytowardssuccessandprosperityinindependentBangladesh,theprofessionenteredintoanewera.In1972,theInstitutewasre-establishedinthenameofBangladeshInstituteofIndustrialAccountants(BIIA).Thereafter,themembersoftheInstitutethroughtheirexcellenceinvariousfieldsprovedtheircredibilityinthenationalandinternationaloutfitwhichstartedbuildingthecredentialsfortheInstituteforgainingacceptabilityfromallconcernedandtoattainconfidenceofthegovernmentandbusinesscommunityofthecountry.WiththechangingneedoftimetheGovernmentofBangladeshrenameditasTheInstituteofCostandManagementAccountants of Bangladesh (ICMAB) through promulgation of The Cost and Management AccountantsOrdinance1977(OrdinanceNoLIIIof1977).ConsideringtheactiveroleofCostandManagementAccountantsforacceleratedgrowthofBangladesheconomy,anewactofparliament“CostandManagementAccountantsAct2018”(ActNo-70of2018)hasbeenpassedbytheparliamenton29thOctober2018.Nowin2018,aftera47-yeararduousjourney,thechronicleofsuccessearnedbyourpredecessorshasbroughtustotheplacewherewestandtoday.

Governance and Management The Institute is governed by a Council constituted under the provision of The Cost and ManagementAccountantsOrdinance,1977.TheCouncilconsistsof12FellowMemberselectedbythemembersofICMABand4nomineesfromtheGovernmentofBangladesh.TheCounciliselectedforaperiodofthreeyears.EveryyearonePresident,twoVice-Presidents,oneSecretaryandoneTreasurerareelectedasofficebearersfromamongstthecouncilors.

Numberofelectedcouncilmembershasbeenincreasedto16(includingoneregionalrepresentative)andnumberofnominatedcouncilmembershasbeenincreasedtofiveinthenewlyenactedCostandManagementAccountantsAct2018.

The day to day administrative affairs of the Institute is, however, managed by a team of fully employedexecutivesheadedbyanExecutiveDirectorwhoactsastheChiefExecutiveOfficer(CEO).

TheInstitutehasthreefunctionaldivisionsandsevendepartments.Detailsofdivisions/departmentsareasfollows:

Name of Division Name of Functional Departments under the Divisions

AcademicAffairsDivision• EducationDepartment• ExaminationDepartment

CorporateAffairsDivision• AdministrationDepartment• FinanceandAccountsDepartment• ICTDepartment

TechnicalAffairsDivision• Research&PublicationDepartment• Member’sAffairsDepartment

5ANNUAL REPORT 2018

Headquarter

ICMABhaban,Nilkhet,Dhaka-1205,

Tel:9615460,9611799,9615477,58616473,Fax:88-02-58615703

E-mail:[email protected]:www.icmab.org.bd

Dhaka Branch

ICMABhaban,Nilkhet,Dhaka-1205.

Tel:9615460,9611799,9615477Ext:123

E-mail:[email protected]

Chattogram Branch

CMABhaban,H#43,R#27,,CDAR/A,Agrabad,Chattogram.

Tel:031-727638,Cell:01972183535,01611727638

E-mail:[email protected],[email protected]

Khulna Branch

KDAPlotNo.24-25,MozidSoraniRoad,Sonadanga,Khulna.

Tel.:041-722335,Cell:01908596633,01919801021


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Headquarter, Branches and Chapters

ANNUAL REPORT 20186

Rajshahi Study Centre

138,Islampur(MadrashaMoar),P.O.Kazla,Boalia,Rajshahi.

Tel:0721-751092Cell:01978274324,01728586007


Cumilla Study Centre

CumillaVictoriaGovernmentCollege,Cumilla

Tel:081-73686,Cell:01908596632,01715026544


Jashore Study Centre

JessoreCollege,Shankarpur,Jashore-7400

Phone:+880421-68520,Cell:01908596631,01711309807


Overseas Chapters

ICMABCanadaChapter

ICMABKSAChapter

ICMABUKChapter

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7ANNUAL REPORT 2018

Global AffiliationICMABisMemberoffollowingGlobalBodiesofProfessionalAccountants:

Strategic PartnersICMABhasStrategicPartnershipwithfollowingInstitutions:

TheInternationalFederationofAccountants(IFAC)

SouthAsianFederationofAccountants(SAFA)

ConfederationofAsianandPacificAccountants(CAPA)

ANNUAL REPORT 20188

Vision & MissionVision

Institute’s vision is to help Bangladesh become an industrialized nation by promotingand regulating Cost and Management Accounting profession to enhance economiccompetitivenessandqualityoflife.

Mission

TheInstitute’smissionistodevelop,equipandpromoteCostandManagementAccountingprofessionbymaintainingthehighestprofessionalstandardof itsmembers inordertoenablethemtoprovidebetterservicestothesociety.

TheInstituteisentrustedwiththeformulationandimplementationofNationalAccountingas well as Cost Accounting Standards and take other necessary steps with a view toregulatingtheCostandManagementAccountingprofessioncommensuratewithglobalstandard with the ultimate objective of developing Bangladesh’s human and naturalresourcestoensurecommonwelfareandtoenrichoursharedfuture.

ANNUAL REPORT 2018 9

PAST PRESIDENTS

Late A.N. Hamidullah(1972-74)

Late Habibur Rahman FCMA

(1991 & 1997)

Mr. Mohammed Mohiuddin FCMA

(1995)

Mr. Md. Abdul Aziz FCMA

(2001 & 2010)

Mr. Satipati Moitra FCMA

(2006)

Mr. Mohammed Salim FCMA

(2014)

Late Ruhul Quddus FCMA

(1975-86)

Late Muzaffar Ahmed FCMA

(1992)

Mr. Rafiq Ahmad FCMA

(1998 & 2002)

Mr. Md. Abdur Rashid FCMA

(2003)

Prof. Mamtaz Uddin Ahmed FCMA (2007 & 2012)

Mr. Abu Sayed Md. Shaykhul Islam FCMA

(2015)

Mr. Md. Uttam Ali Miah FCMA

(1987 89)

Mr. Md. Ishaque FCMA

(1993)

Mr. Muzaffar Ahmed FCMA

(1999)

Mr. A.K.M. Delwer Hussain FCMA

(2004 & 2013)

Late Zahir Uddin Ahmed FCA, FCMA

(2008 & 2011)

Mr. Arif Khan FCMA

(2016)

Late Md. Nurul Hassan FCMA

(1990)

Late Chowdhury Hafizur Rahman FCMA

(1994 & 1996)

Mr. M. Abul Kalam Mazumdar FCMA

(2000)

Mr. Md. Ruhul Amin FCMA

(2005)

Mr. A.B.M. Shamsuddin FCMA

(2009)

Mr. Jamal Ahmed Choudhury FCMA (2017)


Mr.MohammedSalimFCMAwasthePresidentoftheICMABfortheyear2014andwastheVicePresidentin2011,2012

&2013.HewastheSecretaryandTreasureroftheInstitutein2005and2006respectively.HewasChairmanandTreasurerofDhakaBranchCouncilofICMABfortheyear2001and1993respectively.HewaselectedfourtimesasmemberofDhakaBranchCouncilfortheyears1992,1993,1994and2001.

Mr.MohammedSalimFCMAiscurrentlyworkingasSeniorFinancialManagement Consultant in Central Procurement Technical Unit(CPTU), IMED of the Ministry of Planning of the Government ofBangladesh.

Mr.SalimobtainedhisMastersofBusinessAdministration(MBA)in Finance and Diploma of Management Studies (DMS) fromUniversityofHull(UK)in1995and1997respectively.

Mr.Salimparticipatedinmanytrainingprogramsandseminarsonfinancialissues,EnergyandPowerManagementetc.inhomeandabroad.Mr.Salimisawidelytraveledman.HeperformedHolyHajintheyear2006.Heisblessedwithonesonandonedaughter.

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National Council

Office Bearers&

2018

11ANNUAL REPORT 2018

Mr.M.AbulKalamMazumdarFCMAdidMBAfromInstituteofBusinessAdministration,DhakaUniversityandisaCertifiedManagement

Consultant(CMC)fromInstituteofManagementConsultants,Australia.HeearnedadiplomawithdistinctiononManagerialControlandManagementInformationSystemsfromNetherlands.

CurrentlyheistheExecutiveVicePresidentofAnlimaYarnDyeingLtd.apubliclimitedcompanylistedinboththestockexchangesofthecountry.PreviouslyheservedinBeximcoGroup,MinistryofFinance,BangladeshJute Mills Corporation and the then Bangladesh Shilpa Bank invariouscapacities.

Mr.MazumdarwasthePresidentoftheInstitutein2000,VicePresidentfortheyears1996and1997,Secretaryfortheyears1994&1995andTreasurerfortheyear1993.

After qualifying as Cost and Management Accountant in 1984 Mr.Mazumdarplayedactiverole for formationofDhakaregionalcounciloftheInstitute,DhakaBranchCouncil(DBC).HewastheChairman,SecretaryandTreasureroftheDhakaBranchCouncil(DBC)duringtheyears1989,1987 and 1986 respectively. He contributed for the Institute’s journal,The Cost and Management, as Editor and Associate Editor for morethan a decade. He is the author of a number of local and internationalseminar,conferenceandresearchpapersandhehassomeinternationalpublicationstohiscredit.

Mr.ArifKhanFCMAwasthePresidentoftheICMABfortheyear2016andwasVice President of ICMAB for two terms. He served the

Institute as Secretary andTreasurer in different terms. He isworking asCEO and Managing Director of IDLC Finance Ltd. Mr. Khan also servedas Commissioner of Bangladesh Securities & Exchange Commission(BSEC). Before joining the regulatory body, he served several nationaland multinational companies in different capacity. He was in charge ofsignificant reforms initiatives of BSEC in the last four and a half years.Hewasalsoamemberofthe“CoreCommittee”ofBangladeshBankfordevelopingguidelinesfor“DomesticFactoringOperationinBangladesh”and “Asset-Liability Management of NBFIs”. He was the first electedPresidentofBangladeshMerchantBankers’Association(BMBA).

Mr.Khanworksasguestfacultyindifferenteducationalandprofessionalinstitutions including ICMAB, BIBM, Department of Finance and IBA ofDhakaUniversity.

BesideshisMastersinFinancefromDhakaUniversity,healsoobtainMBAdesignation from the Institute of BusinessAdministration (IBA) of sameUniversity.Mr.KhanisaCharterholderofCFAInstitute,U.S.A.

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Mr.Md.Abdur Rahman Khan FCMA isworking as Deputy SecretaryinFinanceDivisionoftheMinistryofFinanceoftheGovernment

of Bangladesh. Before this, he worked in income tax administration forabout 22 years in home and abroad. He started his taxation career in1994asanAssistantCommissionerofTaxandlateronworkedasDeputyCommissioner,JointCommissionerandAdditionalcommissionerofTaxes.AsAdditional Commissioner ofTaxes, heworked as First Secretary (TaxPolicy) in National Board of Revenue (NBR) and had been involved informulation of FinanceAct 2014 and FinanceAct 2015. He also workedasan InternationalAdviseroftheUnitedNationsandasaconsultantofthe World Bank during 2004-2011 periods. Mr. Khan is the Secretary oftheInstitute(2015&2016)andaBoardMemberofPublicSectorFinancialManagement Committee (PSFMC) in Confederation ofAsian and PacificAccountants(CAPA).Mr.KhanisalsoalifememberoftheAsiaticSocietyofBangladesh.

After obtaining post graduation degree in Accounting from Universityof Chittagong Mr. Khan obtained his second masters in GovernmentFinancialManagementfromUniversityofUlster,oftheUnitedKingdom.

Hehaswrittenagoodnumberofarticlesontaxationinreputedprofessionaljournalsandpresentednumberofpapersinnationalandinternationalseminarsandworkshops.Mr.KhanhasstrongpassionforteachingandworkedasaparttimefacultyinDhakaUniversity,NorthSouthUniversity,JahangirNagarUniversity,UniversityofDevelopmentAlternative,ICMAB,FinancialManagementAcademy(FIMA),andBPATC.

Prof.Dr.SwapanKumarBalaFCMAhascurrentlybeenworkingasthe Commissioner of Bangladesh Securities and Exchange

Commission (BSEC) since April 19, 2016. Earlier he served Dhaka StockExchange (DSE) as Managing Director/CEO. Under his able leadership,DSE has been demutualized in November 2013. He began his teachingcareeratDhakaUniversityasaLecturerofAccountingin1991andbecameProfessorin2011.HeisanIFRSprofessionalfromICAEW(UK).HeobtainedhisBachelorandMastersinAccountingfromDepartmentofAccounting& Information Systems, Dhaka University. He obtained ‘Certificate ofAchievementonBIDSAdvancedCourseonEconomicsandQuantitativeTechniques’,anM.Phil.equivalentprogram,fromBIDS.HedidhisPh.D.onVATfromDhakaUniversity.

Dr.BalaistheTreasureroftheInstitute(2015&2016)andpresentChairman,SAFACommitteeonNPOsandCooperativeSector.HewastheEditoroftheICMABJournal(March2012toFeb.2013).HewasalsotheChairmanofDhakaBranchCouncilofICMAB(2008).

Dr. Bala is a Professional Member of IMA (USA),an Associate MemberofVirtual Institute, UNCTAD and a life member of theAsiatic Society of

Bangladesh.HehasextensiveTrainingofTrainers(ToT)experienceincludingLeadershipToTProgramsorganizedbyIFCatDhakaandIIMCalcuttaheldatKualaLumpur,Malaysia.Dr.BalaalsorenderedprofessionalservicestoBangladeshBank,NBR,ISTCLandBICM.HeparticipatedinseveralSecuritiesMarketDevelopmentProgramsheldinUSA(SEC,USXBRLandMIT),Qatar,SouthKorea,Germany,Brazil,China,Maldives,thePhilippinesandHongKong.Tohiscredit,hehas71researcharticles(26international),9researchmonographs,9books,1studymanual,44seminarpapersand9entriesinBanglapedia.

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Mr. Abu Bakar SiddiqueB.COM.(HONS), M.COM., FCMA

Executive Vice-President

(Accounts & Finance) & CFO

Kohinoor Chemical Co. (BD.) Ltd. &

Group Reedisha

Jamal Ahmed ChoudhuryB.COM.(HONS), M.COM., MBA, FCMA

Executive Director, Accounts & Finance

Beximco Pharmaceuticals Ltd.

Begum Shamima Yeasmin

AdditionalSecretaryMinistryofCommerce

Government of the People’s Republic of

Bangladesh

Prof. Mamtaz Uddin AhmedB.COM.(HONS), M.COM., FCMA

Professor (Department of Accounting &

Information Systems)

Faculty of Business Studies

University of Dhaka

Mr. Md. Munirul IslamM.COM, MBA, FCMA

General Manager, Human Resources

Aristopharma Ltd.

Khondoker Mostafizur Rahman

AdditionalSecretaryMinistryofIndustries


Bangladesh

Mr. A. K. M. Delwer HussainB.COM.(HONS), M.COM., PGD(COM. SC.), FCMA

Chairman (In-Charge)

Bangladesh Sugar & Food Industries

Corporation

Kazi Muhammad ZiauddinB.COM.(HONS.), M.COM., MBA, FCMA

Additional Director General

Customs Intelligence & Investigation Directorate

Government of the People’s Republic of Bangladesh

Mr. Abdullah Al Mamun

DeputySecretaryMinistryofEducation


Bangladesh

Mr. Md. Mamunur RashidM.COM., AMCS, FCMA

Deputy Managing Director

Index Group of Companies

Mr. Md. Jalal Uddin

JointSecretaryFinanceDivision

MinistryofFinanceGovernment of the People’s Republic of

Bangladesh

Government Nominees

Councilors


S

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TNEDS IERPSTATEMENT

DearFellowandAssociateMembersoftheInstitute,

You are all aware that ICMAB, our beloved institute, has achievedanewmilestoneonOctober29,2018withthepassageofCostandManagementAccountantsBill2018.Ittakesthestatusoftheinstitutetoadifferentheight.Weare runningthe institute formore than40years(since1977)underCMAOrdinance.Itwasademandofthetimeto move to Act repealing Ordinance. Finally, we have successfullyachieveditandIamluckytowitnessthissuccessstoryfrombeinginsteeringseat.Overthelastfouryears,weareworkingseriouslytoaddressourareasofinterestintothedraftactandtriedtoconvinceourstakeholderstomakeitasuccess.Finallyitbecomesareality.Iamverymuchthankfultoallofyouforyourcommitmentandsupportinthisjourney.Thisactbringsnewavenuesforprofessionalgrowthand development and we believe that we will surely find out ourrevisedroleinnewregulatoryregime.

From February 18, 2018, the date when I have assumed the officeof the President of ICMAB for the second time, I was planning mycoursesofaction.Hopefullyyouremember,on22ndofApril,2018,Ihavepresenteda‘MaturityModel’withfifteenactionplanswhichwasacollectionofdreamwewanttomaterialize.Throughouttheyear,I was trying to explore various opportunities where our memberscanaddvalues.Asacommonpolicy,wearevisitingpolicymakers,corporate leaders, and other selected regulators frequently andtrying to convince them on the capacity of our members. We aretryingtoidentifydifferentareaswhereourmemberscancontributeas a catalyst for change.To develop the capacity of our membersandfinanceleaders,wehavedevelopeddifferenttrainingmoduleson our core areas like Financial Modeling through using MS Excel,leadership, corporate reporting, application of IAS/IFRS and otherareas of particular interest in corporate world. We can utilize ourprofessional expertise to support the corporate world which maybring different types of advantages to us in return. We have alsocontinuedoursearchfordifferentglobalbodieswithwhomwecanmakesomeunderstandingformutualinterestsandbenefits.

Meanwhile, ICMAB has organized an international conference on‘Achieving Sustainable Development Goals: Challenges and WayForward’ on September 23, 2018 at Grand Ball Room, Pan PacificSonargaonHotel,Dhakawhichwasattendedbyhighleveldignitariesfrom regulators, bureaucrats, donor agencies, development


partners and corporate. There was sixtechnical sessions where more than 40experts from home and abroad had joinedatdifferentcapacitieslikesessionchairman,moderators, paper presenters, panelistsetc. More than 400 participants joined theconference as participants. The conferencewassuccessfulinbringingattentiontomediaandinallrespects.ICMABwillalsohostSAFAconference this year at Dhaka. TargetingSAFA event during December 2018, ICMABis preparing to organize a CFO conference.WearealsoplanningtoorganizeICMABBestCorporateAwardonthesamedaytospreadthisvalueaddingeventamongalltheSAFAparticipants.

We have also continued our effort ofcontinuous improvement Education andExamination system of the institute. InJessore, we have inaugurated a new studycenter.FromDecember2018exam,wehavechanged our question setting guideline tomakeitalignedwithotherglobalprofessionalaccounting organizations. To review ourassessment system, we take support froman international consultant who has vastexperiences in professional accountingeducation and assessment system. We arealso trying to enter into mutual recognitionwith universities for the benefits of ourstudentsandmembers.Hopefully,verysoonyouwillgetnewsonsomesuccessfultie-up.

We have also worked to make state-of-the-art facilities available at ICMAB. Thecouncil floor of the institute has beencompletelychangedwithextendedcapacityto hold different committee meetingssimultaneously after providing separateoffices for all the office bearers. A purposebuilt training room has been made with acapacity of more than 100 participants at atime.Apermanentplacehasbeenallocatedfor students’ canteen.A modern IT labwitha capacity of 50 participants at a time hasbecomefunctionalatthegroundflooroftheinstitutewhichisusedextensivelytoarrangedifferentITrelatedtrainings.ICMABiscloselyworkingwithMinistryofHousingandPublic

Workstoacquirea landatPurbachal tobuildanewcampusinfuture.TheMinistryhavealreadyagreedtoallocatealandforICMAB.Wehaveaplantoexpandourbuildingforanothertwofloors.MinistryofCommercehasalreadyapprovedourproposal.

Forprofessionaldevelopment,wearetryingseriouslyto capacitate our members from every respect. WehaveorganizedtrainingonCostAuditwiththesupportof ICAI (cost). ICMAB is in the process of finalizingan agreement with Global Reporting Initiative (GRI)whichwillbeusedtoincreasethecapacityofICMABmembersinthefieldofsustainabilityreportingsothatourmemberscanworkwithGRItoupliftthecapacityofourcorporatebodiesbyincreasingtheirpreparednessundernewreportingregime.ICMABhasalsoformallystartedaresearchprojecton‘NewPublicManagement(NPA) Developments in Bangladesh: Implications forAccountingPractices’jointlywithLaTrobeUniversity,Australia.ProfessorZahirulHoqueFCMAfromLaTrobeUniversity acts as chief investigator of the researchproject. A Focus Group Discussion (FGD) has beenorganizedonOctober23,2018atICMABtolauncetheprojectformallywhererepresentativesfromministriesandotherpublicsectororganizationshavejoined.

First time this year, ICMAB observed InternationalAccounting Day on 10th November 2018. Firsttime ICMAB also organized Students Summit 2018which was a colourful and very effective event forthe students. ICMAB is working with Robi Axiata tointroduce e-library for the students.Thisyearvirtualclass room facility is introduced for the students ofKhulnaBranch.

AtICMAB,wehavedevelopedacultureofcontinuousdevelopment. I acknowledge your active supportand helping hands invarious capacitieswhich makethis journeysmooth. Ifwecanholdthisbrotherhoodand family bondage, I am sure, we can make evenimpossiblepossible.Iamreallythankfultoyouforyourblessingandkindwordswhichkeptmemotivatedallthetime.

Iwishsoundhealthtoallofyou.

Mohammed Salim FCMAPresident,ICMAB

PRESIDENT’S STATEMENT


OF THE COUNCILREPORT

2018

In accordance with the provisions of Section 26(4) of Cost and Management Accountants Act, 2018, the Council is pleased to publish its Annual Report on the activities for the year 2018 together with the Audited Accounts of the Institute for the year ended June 30, 2018 to the honorable members of the Institute of Cost and Management Accountants of Bangladesh.


COUNCIL AND COMMITTEES

Election of Office Bearers As per the regulations of the Institute following five members were elected fromamongsttheCouncilorstoruntheOfficefortheyear2018:

01. Mr.MohammedSalimFCMA President

02. Mr.M.AbulKalamMazumdarFCMA Vice-President

03. Mr.ArifKhanFCMA Vice-President

04. Mr.Md.AbdurRahmanKhanFCMA Secretary

05. Prof.Dr.SwapanKumarBalaFCMA Treasurer

Office Bearers of the Institute for 2018


Five Standing Committees, namely Executive Committee, EducationCommittee, Examination Committee, Research & DevelopmentCommittee and Disciplinary Committee for the year 2018 were

subsequently formed. Further details of the Committees are given inAnnexure1.

The Council also approved 26 other Committees for smooth functioningof the activities of the Institute. This year two new committees namely-ProfessionalServiceCommitteeandPublicSectorFinancialManagementAdvisory Committee have been formedwith specific action agenda ThedetailsofotherCommitteesaregiveninAnnexure2.

TheelectiontotheBranchCouncilsforDhaka,ChittagongandKhulnaregionsfortheyear2018andChapterCouncilsoftheInstituteforUKandKSAfortheyear2018-19wereheldinduecourse.Tenmembers

for each of Dhaka, Chittagong and Khulna Branches and eight membersforUK&KSAChapterCouncilwereelectedbythemembersofrespectiveBranchesandChapters.TheCouncilasperrulenominatedtwomembersforeachoftheBranchesandChapterCouncils.TheCouncilsoftheBranchesandtheChapterselectedtheirOfficeBearerswhichisgivenasAnnexure3.

Standing and Other Committees

Branch Councils and Chapters


SixmeetingsoftheCouncilandfivemeetingsoftheExecutiveCommittee(EC)wereheldtillNovember27,2018.Moreover,alltheStandingCommitteesheldseveralmeetingsbasedontheoperationalrequirementthroughouttheperiod.

InadditiontoCouncil,ECandStandingCommittees,26OtherCommitteeshaveheldtheirmeetingsduringtheperiodunderreview.Thesecommitteesplayedavery active role throughout theyear and made remarkable contribution incarryingouttheoverallactivitiesoftheInstitute.Manyoftheirdecisionshavebeenimplementedwhilesomeareinprogress.

Further details of the meetings including the records of attendance by theCouncilorsinCouncil,ECandStandingCommitteesaregiveninAnnexure4.

Mr.Md.EkhlasurRahman,AdditionalSecretary,MinistryofFinance,Mr.Md.AminulIslamKhan,AdditionalSecretary,MinistryofEducationand

Mr.Akramul Haque,Additional Secretary, Ministry of Industrieswho haveservedthecouncilforalongtimeasGovernmentnomineewerereplacedbyconcernedministry.ThecouncilrecallswithappreciationtheinvaluablecontributiontheymadefortheCMAprofessionasaCouncilMemberoftheInstitute.

Three new members namely Khondoker Mostafizur Rahman, AdditionalSecretary,MinistryofIndustries,Mr.Md.JalalUddin,JointSecretary,MinistryofFinanceandMr.AbdullahAlMamun,DeputySecretaryjoinedtheCouncilduringtheperiodunderreview.

Meetings of Council, Standing and Other Committees

Changes in the Council


Institute’s newly elected

President Mr. Mohammed

Salim FCMA is congratulated

by immediate past President

Mr. Jamal Ahmed Choudhury

FCMA on February 18, 2018 after

assuming his presidentship.


The Councilors and past Presidents and Past Vice Presidents of the Institute were invited by the immediate Past President Mr. Jamal Ahmed Choudhury FCMA to the President’s Dinner in Sonargaon Pan pacific Hotel, Dhaka on February 18, 2018 and to offer suggestions for betterment of the Institute and the profession. Among the Past Presidents Mr. Md. Ruhul Amin FCMA, Mr. M. Abul Kalam Mazumdar FCMA, Prof. Mamtaz Uddin Ahmed, FCMA, Mr. AKM Delwer Hussain FCMA, Mr. A.S.M Shaykhul Islam FCMA, Mr. Md. Abdul Aziz, FCMA, Mr. Rafiq Ahmad FCMA and Mr. Muzaffar Ahmed FCMA attended the meeting. The council members also attended the dinner.

DINNERPresident ’s


46th AGM of ICMAB

The 46th Annual General Meeting

MEMBERS MEETING


The 46th Annual General Meeting ofthe Institute of Cost and ManagementAccountantsofBangladesh(ICMAB)washeldonDecember29,2017atICMABRuhulQuddusAuditorium,ICMABhaban,Nilkhet,Dhaka.

Mr.JamalAhmedChoudhuryFCMA,PresidentoftheInstitutepresidedovertheMeeting.Mr.Md. Abdur Rahman Khan FCMA, SecretarypresentedtheReportoftheInstitute’sCouncilfortheyear2016-2017.Prof.Dr.SwapanKumarBala FCMA,Treasurer presented theAuditedAccountsandFinancialReportsoftheInstitutefortheyear2016-2017.

Asmanyas18memberstookpartinthediscussionsonprofessionalmatters,variousaspectsoftheAnnualReportandAuditedAccountsoftheInstitute.

Prof.MamtazUddinAhmedFCMAandMr.MohammedSalim FCMA,Vice Presidents of the Institute repliedtothequestionsasraisedbythemembersrelatingtotheExaminationandEducation.

Past Presidents, Council Members, 406 fellow and212associateMembersoftheInstituteattendedandmade theAGM a grand success.All the agenda putforwardinthemeetingwerepassedbythemembers.

MEMBERS MEETING

ANNUAL REPORT 201824

MEMBERS MEETING

M/s.J.U.Ahmed & Co., CharteredAccountants, House # 170 (1st floor), Lane-3,newDOHS,Mohakhali,DhakawhowasappointedasAuditoroftheInstituteinthe46thAGMconductedauditfortheyear2017-18.

TheAuditorsretiresatthisAGMandbeingeligiblehasexpressedtheirwillingnesstocontinueinofficefortheterm2017-18.Theappointmentoftheauditorsfortheyear2018-19andthefixationofremunerationareplacedherewithinthisAGMforyourkindapproval.

The newly elected Office Bearers of the Institute held a meetingwith the Chairmen andVice Chairmen of different Committees on March 27, 2018 to discuss and find out thestrategies for facilitating timely achievement of the goal. President of the Institute Mr.

MohammedSalimFCMApresidedoverthemeeting.ThePresidentdrewattentiontotheroleofthecommitteesinachievingthetargetssetfortheyear.Hesharedwiththememberssomeofthetargetsthecouncilwantstoachievethroughdifferentcommittees.DetaileddiscussionswereheldontheToRoftheCommittees.TheChairmenandViceChairmenexpressedtheirviewsondifferentaspectsoftheInstituteandofferedvaluablesuggestions.TheyassuredtheirfullsupportinrealizingthegoalssetbytheCouncil.OfficebearersoftheCouncilwerepresentduringthemeeting.

Appointment of Auditors

Discussion Meeting with the Chairmen and Vice Chairmen of Different Committees

Meeting with the Chairmen and Vice Chairmen

MEMBERS MEETING


Thelongexpected“CostandManagementAccountantsACT2018”hasbeenpassedbyBangladeshNationalParliamentonOctober29,2018.This isagreatachievement for the Institute.Onthisoccasion, ICMAB

organizeda“Do’a”onOctober31,2018afterMagribprayerat ICMABRuhulQuddusAuditoriumtoexpressgratitude to theAlmighty. Mr. Shubhashish Bose, Senior Secretary, Ministry of Commerce, Government ofthePeople’sRepublicofBangladeshwaspresentaschiefguest.MemberofICMABparticipatedintheDo’a,prayedfortheInstitutiontogoaheadforfurtherachievements.

PresidentoftheInstituteMr.MohammedSalimFCMAjoinedthemeetingofCMABill2018ofParliamentaryStandingCommitteeonMinistryofCommerceatBangladeshNationalParliamentSecretariat.Mr.NurulMazidMahmudHumayunMP,ChairmanoftheCommitteePresidedoverthemeeting.SeniorSecretary

ofMinistryofCommerce,GovernmentofthePeople’sRepublicBangladesh,PresidentandSecretaryoftheInstitutebriefedontheproposedbillbeforetheCommittee.TheCommitteepassionatelyacceptedICMAB’ssubmissionandagreedtorecommentthebillforparliamentaryapproval.

President attends Parliamentary Standing Committee Meeting

Parliamentary Standing Committee Meeting

ENACTMENT OF COST AND MANAGEMENT ACCOUNTANTS ACT 2018


Exchanging Views with Teachers

EDUCATION, EXAMINATION AND STUDENT AFFAIRS

ICMABEducationCommitteeheldameetingwiththeteachersofJanuary-June2018sessiononApril24,2018.Mr.ArifKhanFCMA,ChairmanoftheEducationCommitteeandVicePresidentoftheInstitutepresided over the meeting.The main agenda of that meetingwas to exchangeviews on differentacademic issuesandgetting feedback fromtheteachers.Mr.MohammadSalimFCMA,President,Mr. Mahabub Ul Alam FCMA, Executive Director and Mr. Nikhil Chandra Shil FCMA, Consultant ofAcademicAffairs attended theview exchanging meeting.Around 17 teacherswere present in themeeting. As part of the discussion, the teachers shared their experience, raised their concerns,gaveopinionsandmadesuggestionsondifferent issuesforfurtherdevelopmentoftheacademicexcellence.ThePresident,VicePresidentandChairmanofEducationCommittee,ExecutiveDirectorandConsultantofAcademicAffairsendorsedtheirobservationandassuredgradualimplementationofthosesuggestions.

Education Department organized three promotional seminars on CMA career and education in renowned colleges and universities in Dhaka, Chattogram and Khulna.

Inauguration of ICMAB Jashore Sutdy Center

ICMABPresidentMr.MohammedSalimFCMAinauguratedJashoreStudyCenteronMay5,2018atJessorePressClub.IntheinauguralspeechMr.MohammedSalimFCMAsaidthatICMABisgoingtoopenitsstudycenteratJashorecollege,jashoreconsideringtheincreasingneedsofskilledaccountingprofessionals in the country. He added that at present about ten thousand skilled accountingprofessionalsareneededbutwehaveonlythreethousand.Sothedemandofaccountantsinthejobmarketishigh.AnyonecanobtainthisinternationalstandardCMAdegreefromICMABspendingonlyseventythousandtaka.

Past President Mr. M Abul Kalam Mazumdar FCMA,ExecutiveDirectorofICMABMr.MahbubUlAlamFCMA,SquadronLeaderofBangladeshAirForceMr.SazzadHossain, Principal of Jessore College Mr. MostaqHossainSimba,MathteacherMr.PradipGhosh,fellowand associate members of the Institute and a largenumberofJournalistswerepresentontheoccasion.

Seminars Promoting CMA Education

ICMAB Jashore Sutdy Center

ENACTMENT OF COST AND MANAGEMENT ACCOUNTANTS ACT 2018


Seminar at Dhaka College ICMABorganizedaseminartitled“UpliftingEmployabilityofBusinessGraduatesthroughProfessionalEducation”onMarch12,2018atDhakaCollegepremises incollaborationwiththeDepartmentofManagement,DepartmentofAccountingandDepartmentofEconomicsofDhakaCollege.ProfessorMd. Muazzam Hossain Mollah, Principal of Dhaka College graced the occasion as Chief Guest.ProfessorNehalAhmed,Vice-Principal,ProfessorMd.HumayunKabir,Chairman,Dept.ofAccounting,andProfessorShamimAraBegum,Dept.ofEconomicsofDhakaCollegewerepresentintheseminarasSpecialGuests.TheseminarwaschairedbyProfessorDr.Md.Alauddin,Chairman,DepartmentofManagementofDhakaCollege.Institute’sPresidentMr.MohammedSalimFCMA,VicePresidentMr. ArifKhanFCMA,PastPresidentProfessorMamtazUddinAhmedFCMA,AcademicConsultantDr.NikhilChandraShilFCMAandfellowmemberMr.NabaKrishnaMuniFCMAwerepresentintheseminarastheGuestsofHonour.

Speakers at the seminar discussed about the necessity of professional degrees in addition toacademicdegreesforacceleratingcareersuccess.EducationsystemofICMABisalsobriefedalongwith the membership profile to motivate the audiences. Bringing some successful indicators ofBangladeshwhichisundergoingthroughseriousdevelopmentinitiatives,thespeakerspresentedthe potential of professional accountants in coming days. Around 600 students of the collegeattendedtheseminarandlistenedtothespeakerstilltheendwhichlastsformorethanthreehours.Studentswerealsoengagedinaninformalnetworkingwiththespeakersattheendoftheseminarwhichreflectstheirkeennesswiththeprofessionaleducation.

Seminar at Islamic University of Technology (IUT)The Institute of Cost and ManagementAccountants of Bangladesh (ICMAB) organized a seminartitled“AccountingasaProfession”onJuly24,2018atIslamicUniversityofTechnology(IUT)premisesin collaboration with the Department of Business & Technology Management (BTM) of the saidUniversity. Professor Dr. Mohammad Rakibul Islam, Head of Business &Technology Management(BTM)departmentofIUTgracedtheoccasionasChiefGuest.Ms.NazninAkter,AssistantProfessorofBusiness&TechnologyManagement(BTM)departmentofthesameUniversityattendedthesessionasSpecialGuest.Institute’sacademicConsultantDr.NikhilChandraShilFCMAwaspresentintheseminarastheGuestofHonor.Dr.NikhilChandraShilFCMAdiscussedregardingthenecessityofprofessionaldegrees inadditiontoacademicdegreesforacceleratingcareersuccess.EducationsystemofICMABisalsobriefedalongwiththemembershipprofiletomotivatetheaudiences.Bringingsome successful indicators of Bangladesh which is undergoing through serious developmentinitiatives,thespeakerpresentedthepotentialofprofessionalaccountantsincomingdays.Around60studentsofthesaidUniversityattendedtheseminarandlistenedtothespeakerstill theendwhichlastformorethanonehour.Studentswerealsoengagedinaninformalnetworkingwiththespeakersattheendoftheseminarwhichreflectstheirkeennesswiththeprofessionaleducation.


Seminar at Dhaka College



Seminar at University of Liberal Arts Bangladesh (ULAB)ICMAB organized a seminar titled “ManagementAccounting Education for a Challenging Career”onJuly10,2018atUniversityofLiberalArtsBangladesh(ULAB)premisesincollaborationwiththeSchoolofBusinessofthesaidUniversity.

ProfessorH.M.JahirulHaque,ViceChancellorofULABgracedtheoccasionasChiefGuest.Institute’sPresident Mr. Mohammed Salim FCMA, Secretary Mr. Md. Abdur Rahman Khan FCMA, AcademicConsultantDr.NikhilChandraShilFCMAwerepresentintheseminarastheGuestsofHonor.TheseminarwaschairedbyProfessorImranRahman,SpecialAdvisortotheBoardofTrustees&DeanofBusinessSchoolofULAB.

Among others Mr.A FWazirAhmed,Assistant Professor & Director of BBA Program, Mr. MazrukhRohan, Senior Lecturer of Business School, University of Liberal Arts Bangladesh (ULAB) andInstitute’sDirectorofAcademicAffairsMr.NazmusSalehinwerealsopresentinthesession.

Speakers at the seminar discussed about the necessity of professional degrees in addition toacademicdegreesforacceleratingcareersuccess.EducationsystemofICMABisalsobriefedalongwith the membership profile to motivate the audiences. Bringing some successful indicators ofBangladeshwhichisundergoingthroughseriousdevelopmentinitiatives,thespeakerspresentedthepotentialofprofessionalaccountantsincomingdays.Around300studentsofthesaidUniversityattendedtheseminarandlistenedtothespeakerstilltheendwhichlastsformorethantwohours.Studentswerealsoengagedinaninformalnetworkingwiththespeakersattheendoftheseminarwhichreflectstheirkeennesswiththeprofessionaleducation.

Training session for the students of Jahangirnagar University ICMAB has organized a training session for the students ofJahangirnagar University on March 6,2018at ICMAB.Around40studentsfromtheFacultyofBusinessStudieshaveparticipatedinthetrainingprogram.Mr.ShishHaiderChowdhury,Director,CentralProcurementTechnicalUnit(CPTU),IMEDMinistryofPlanning,Mr.MohammedSalimFCMA,PresidentofICMAB,Prof.Dr.SwapanKumarBalaFCMA,Treasurerof ICMABandMr.NabaKrishnaMuniFCMAhaveactedasresourcepersonin the training program. Speakers have talked about professional accounting education, careerprospects of business graduates, leadership and motivational issues.The participants expressedtheirsatisfactiononthedeliverymadebytheresourcepersons.


Seminar at University of Liberal Arts Bangladesh (ULAB)



Theinstitutehasorganizedamotivationalsessionforfresher’s(IntermediateEntryRoutestudents)forJanuary-June2018sessiononApril3,2018from5:00pmto7.00pmatroomno101.Mr.AminulIslamKhan,AdditionalSecretary,MinistryofEducation,GoBspokeasmotivationalspeakerinthesession.Morethan100studentshave joinedthesession.Mr.MohammedSalimFCMA,Presidentof ICMABremainedpresent inthesessionandintroducedthepresenterwiththestudents.Healsospoketostudentsondifferentissuesrelevanttostudents.

Meet the CFO: A leadership development initiative for the students of ICMABIn the face of the changing business landscape where volatility, uncertainty, risk, ambiguity anddisruptionarebecomingmoreprevalent,theroleoftheCFOhasundergoneseveralevolutionsandisthoughttogothroughseveralmore.ACFO’srolehaschangedovertheyears.Itissaiditwillchangeagain,andprobablymuchsoonerthansomearepreparedfor.Inadditiontobeingcompetent,aCFOnowneedstobeversatile.HowwillthisevolvingversatilitydictatenewprofessionalcompetenciesrequiredoftheCFOinthefuture?

In order to develop the capacity of the students, the Students Affairs Committee of the Instituteorganized“MeettheCFO”programforthestudentsofICMABon14May2018.Theobjectiveofthe

Motivational Session for ICMAB students byMr. Md. Aminul Islam Khan, Additional Secretary, Ministry of EducationMotivational Session, Leadership Development and Communication & Presentation Skills for ICMAB students

Motivational Session for ICMAB students

Meet the CFO: A leadership

development initiative for the

students of ICMAB


programwas to identify the skills required for the students to be business partner.The programwasorganizedintwosessions.Thetopicofthepaperpresentationsessionwas“CFOasabusinesspartnerandwhatskillsstudentsneedtobebusinesspartner”byMr.Md.ShafiqulAlam,LL.B,ACS,FCA,FCMA,DirectorFinanceandCompanySecretaryofSuperStarGroup(SSG).

Inthepaneldiscussionsession,Mr.Md.ShafiqulAlamLL.B,ACS,FCA,FCMA,DirectorFinanceandCompanySecretaryofSuperStarGroup(SSG)wasthesessionmoderatorandthefollowingspeakerswerepresentaspanelist:

• Mr. Md. Kausar Alam MBA(IBA), FCS, FCCA, FCMA, ACA(ICAEW), Group Chief Financial Officer &CompanySecretaryofSevenCircle(Bangladesh)Ltd,aSubsidiaryofSSGILHongKong.

• Mr.EliasAhmedM.COM,MBA,FCMA,ChiefFinancialOfficerofMaricoBangladeshLimited.

• Mr.ShubhaMohammadAl-AminMBA,FCMA,ChiefFinancialOfficerofCityGroupand

• Mr. Subhash Chandra Das B.COM (HONS.), M.COM, CFC, FCMA, Chief Financial Officer & GeneralManagerofSonaliBankLimited.

Mr.MohammedSalimFCMA,PresidentoftheInstituteandmembersoftheStudentsAffairsCommitteewasalsopresentintheprogram.Around250students(outofwhich137studentswereregistered)attendedthesaidprogram.TheprogramwasconductedbyMr.ZillurRahmanFCMA.

Training program on Communication & Presentation SkillsTo develop theleadership capacityof the students ofICMAB, the StudentsAffairs Committee ofthe Institute organizeda training programon “Communication& Presentation Skills”on Saturday, August4, 2018 from 4 p.m. to8 p.m. at ICMAB RuhulQuddusAuditorium.

The program had twosessions.Session-1:Networking&CommunicationSkillswasconductedbyMr.MohammedNazrulIslam,2015NationalPresident,JCIBangladeshandSession-2:PresentationSkillswastakenbyMr.ErfanHaque,2018NationalVicePresident,JCIBangladesh.BoththesessionwasmoderatedbyMr.Md. ShafiqulAlam, LL.B,ACS, FCA, FCMA, Director Finance and Company Secretary of Super StarGroup(SSG).

Mr.WaqarAhmadChoudhury,ManagingDirector&CEOofVanguardAssetManagementLtd.gracedtheoccasionasChiefGuest.Mr.MohammedSalimFCMA,PresidentoftheInstituteandmembersoftheStudentsAffairsCommitteewasalsopresentintheprogram.Around250studentsattendedthesaidprogram.TheprogramwasconductedbyMr.Md.MahabubulAlamFCMA.


Training program on Communication & Presentation Skills


Training on “SAP ERP (FICO)” for CMA StudentsIn order to equip CMA students with IT knowledge and skills, the Institute organized a TrainingProgramon“SAPERP(FICO)”onSaturday,October27,2018from9.30a.m.to4.30p.m.atICTTrainingLabofICMABhaban,Nilkhet,Dhaka.

TheTrainingProgramwasconductedby:

• Mr.AshrafulAlam,Sr.Consultant,BizzSolutionsLtd.&FunctionalConsultant&FIModuleLead,SSGand

• Mr.MehediHasanApuACMA,Consultant,BizzSolutionsLtd.&FunctionalConsultant&COModuleLead,SSG

Md. Shafiqul Alam FCMA, Chairman of the Students Affairs Committee inaugurated the trainingprogram.40registeredstudentsoftheInstituteparticipatedinthetrainingprogram.AttheendofthesaidtrainingprogramparticipantsareawardedCertificateofParticipation.

Training on “IFRS-16: Leases” for CMA StudentsIn order to equip CMA students with the knowledge of IFRS, the Institute organized a TrainingProgramon“IFRS-16:Leases”forthestudentsofICMABonJanuary20,2018from6.00p.m.to8.00p.m.atICMABhaban,Nilkhet,Dhaka.

The Training Program wasconducted by Mr. Md. ShafiqulAlam FCMA, Group CFO &Company Secretary, Super StarGroup.

Mr. Mohammed Salim FCMA,Vice President & Chairman,Education Committee waspresentintheinauguralsessionof the training. Around 80 CMAstudents attended the saidtrainingprogram.


Training on “SAP ERP (FICO)

Training on “IFRS-16: Leases”


EDUCATION, EXAMINATION AND STUDENT AFFAIRS EDUCATION, EXAMINATION AND STUDENT AFFAIRS

The Institute has already adopted a world class curriculum since July-December 2015 session.Aimingexcellenceineducationandexaminationsystemandasapartofitscapacitydevelopmentprogramthe Institutearrangedatwodaylong“TraintheTrainers”programforTeachers,QuestionSetters,ModeratorsandExaminersof ICMAB.TheprogramwasheldonSeptember07-08,2018atICMABhaban,Nilkhet,Dhaka.This2daylongtrainingprogramwasconductedbyMr.PalpolageDonChannaNiroshaGunawardana,ChiefOperatingOfficer,HirdaramaniKnitCluster,SriLanka.

ThemainobjectiveofthisprogramistomakeawareaboutnewExamPaperStructure,newteachingtechniques, teaching methodology, standard question setting guidelines, etc. Mr. Gunawardanareviewed present exam structure of ICMAB and then suggested a new exam structure for ICMABincludingspecimenpapersforeachsubject.Withhisvastexperienceinthisfieldhehasexplainedeverythinginaveryefficientway.AlongwithparticipantsofDhakaregion,teachers,questionsettersmoderators and script examiners from Chittagong, Khulna and Cumilla were participated in thetraining program. Inauguration of the training program was held on September 7, 2018 at 10:00a.m. Mr. Mohammed Salim FCMA, President of the Institute inaugurated the program. Mr. M.AbulKalamMazumdarFCMA,VicePresidentandChairmanofExamCommittee,Mr.ArifKhanFCMA,VicePresidentandChairmanofEducationCommitteeandMr.Md.AbdurRahmanKhanFCMA,Secretaryoftheinstitutewerealsospokenontheoccasion.TheprogramwasconductedbyDr.NikhilChandraShilFCMA, Consultant,AcademicAffairs, ICMAB.Altogether 54Teachers, Question Setters, ModeratorsandScriptExaminerswereparticipatedintheaforesaidtrainingprogram.AttheendoftheprogramalltheparticipantswereawardedCertificateofParticipation.

Student EnrolmentAtotalof1889newstudentsgotadmittedtoICMABduring2018.Therecordofnewadmissionandlevelregistrationoflast5yearsisgivenbelow:

Year New Admission Level Registration Total

2014 1654 1375 3029

2015 2097 1590 3687

2016 2118 1115 3233

2017 2295 1007 3302

2018 1889 1342 3231

Train the Trainers programTraining program for teaching faculties, question setters, moderators and script examiners by an overseas consultant

Train the Trainers program



Examination Activities

Review of question pattern and improvementsICMABhasappointedMr.ChannaGunawardana,aveteranprofessionalaccountantfromSriLanka,toevaluatetheexistingassessmentsystem(questionsetting,moderationandmarking)andprovideconsultancyservicestoimprovethequality.TheconsultanthasvisitedICMABtwiceandactedasthetrainerintwodifferenttrainingsessionswhereagoodnumberofmembersoftheinstitutewhoact as teachers, question setters, moderators and examiners have joined. The participants haveappreciated the level of commitment and enthusiasm of the trainer in bringing changes in themfor the benefit of the Institute. He reviewed past questions, question setting guidelines, markingguidelines and other related documents of ICMAB. He identified major weaknesses in questionsettingandevaluationprocessandsubmittedhisfindingsandrecommendations infourdifferentpartsforfourlevelsofcourses:BusinessLevel,OperationalLevel,ManagementLevelandStrategicLevel. Based on his recommendations, the Institute has revised the question setting guidelineswhichwouldbeeffectivefromDecember2018exam.ItisexpectedthatwiththeimplementationoftheguidelinestheICMABassessmentsystemwillbeimproved.

Reforms in Internship Program of CMA StudentsInternshipispartofCMACurriculum.ItcaterstomakeabridgebetweentheoryandpracticeforthestudentsaspiringtoqualifyasCostandManagementAccountant(CMA).CMAbeingtheprofessionaleducation needs to make it practical oriented by giving the students exposure to the real lifepractices.InordertomaketheinternshipmoreeffectivefortheserviceholdersaswellasforthepractitionerstheExaminationCommitteehasmodifiedtheinternshipprocess.

Ifthenewprocessisimplementedindueperspectivethestudentscantrainthemselvesonprojectproposal development, collect, analyze and interpret the information for the formulated project,learnthereportwritingskillsthroughanalysisofcollectedinformation,developreportpresentationskillsanddefendthefindingsofthereport.Besidesthese,thestudentscanalsohavegoodnetworkincorporatesectorwhichcanultimatelyhelpgettingjobsorconsultancy.Atotalofthirty-sixstudentsstartedinternshipinthefirstbatchofmodifiedprocess.

Registration for ExaminationDuringthetwoexaminationsessionsofDecember’17andJune’18atotalof7,595studentsregisteredinfivedomesticandoneforeigncenters.Thedomesticexaminationcentersare:Dhaka,Chattragram,Khulna,Rajshahi,ComillaandforeigncenterisDoha.



5

149

58

6

158

62

0

50

100

150

200

OperationalLevel BusinessLevel KnowledgeLevel

Dec-17

Jun-18

Under the old syllabus, total 86 students passed the level exams in December 2017 exam. TotalnumbersoflevelqualifiedstudentsinJune2018examhasbeensignificantlyincreasedto208.

Underthenewsyllabus,numberoflevelqualifiedstudentsinKnowlwdge,BusinessandOperationalLevelinDecember2017examwas212,whereas,thesenumbersoflevelqualifiedstudentsunderthenewsyllabusinJune2018examhasbeenincreasedto226.

FinalExamination

8(9%)

Professional

Level-III12(14%)

Professional

Level-IV7(8%)

Professional

Level-II

16(19%)

Professional

Level-I25(29%)

Foundation

Level18(21%)

FinalExamination

37(18%)

Professional

Level-IV37(18%)

Professional

Level-III32(15%)

Professional

Level-II

65(31%)

Professional

Level-I26(13%)

Foundation-Level11(5%)

June2018

December2017

Examination ResultsTheEducationandExaminationdepartments’strenuouseffortisyieldingresults.AtotaloffortyfivestudentshavepassedCMAcoursesduringtheJanuaryandJunesessionsof2018.ThechartbelowdepictsthecomparativequalifyingresultsofFinalandotherfourlevelsofexaminationsintheoldandnewsyllabus.



TheCounciloftheInstituteaccordedanopenhallreceptiontothestudentswhopassedCMAfinalexaminationinDecember2017andJune2018.TheprogramwasheldonSeptember30,2018attheICMAB Ruhul QuddusAuditorium.A total of 37 students qualified to achieve the prestigious CMAdegreeafterpassingallthesubjectsoftheCMAcourse.ThequalifiedCMAswerewarmlygreetedbytheOfficeBearers,Councilors,MembersandStudentsoftheInstitute.Thenewlyqualifiedstudentswereintroducedbeforetheaudience.Asamarkofhonor,theyweregivenseatsonthediasoftheauditoriumoftheInstituteandallCouncilorsincludingthePresidentsatamongsttheaudience.

TheprogramstartedwithrecitationfromtheholyQur’anandwasfollowedbyaddressofwelcomebyChairman,ExaminationCommitteeMr.M.AbulKalamMazumdarFCMA.Hementionedthestudentsthat the newly qualified CMA’s quest for learning has just started. They have to learn and gainexperience intheirfieldsofcareercontinuously.HementionedthatprofessionalaccountantsmayfacecompetitionfromotherneighboringcountriesandtosurviveinsuchsituationtheCMAshavetodevelopatparwithothers.

ThenewlyqualifiedCMAsthensharedtheirfeelingsof joiningtheCMAfamilyandlivelystoriesofstruggle, hopes and inspirations during their arduous journey as a CMA student. They expressedfirmcommitmenttoupholdthe imageof theprofession.PresidentMr.MohammedSalimFCMA inhis speech advised the newly qualified CMAs to maintain the highest standard in rendering theirprofessionalservices.Healsoemphasizedonstrictcompliance to theprofessionalcodeofethicsandconductsthatCMAsarehighlyregardedfor.Hetoldthatasaprofessionaltheyshouldremaincommittedtotheirresponsibilitiestothesociety.AllthenewlyqualifiedCMAsputtheirsignaturewiththeircommentsontheCMAgraduationsignaturebook.

Amongothers,PastPresidentsofICMAB,Mr.ArifKhanFCMAandMr.JamalAhmedChoudhuryFCMAattendedtheprogram.TheprogramwasconductedbyICMABSecretaryMr.Md.AbdurRahmanKhanFCMA.Mr.Md.MahbubUlAlamFCMA,ExecutiveDirectoroftheInstituteofferedvoteofthanks.AlargenumberFellow&AssociateMembersandStudentsoftheInstituteattendedtheReceptionprogram.

Grand Reception to the Newly Qualified CMAs

Newly Qualified CMAs on Dias



Students’ AchievementDuringthelasttwoexaminationsthefollowingeightstudentsgottheawardfortheiroutstandingperformance:

PhotographName (Registation

Number)Examinations Award Subects Award for

BipuTalukder(2017200599)

CMADecember

2017

SilverMedal

Averagemarks63%eachsubjectofKnowledgeLevel

Md.ImranHossain(2017200698)

CMADecember

201710,000.00

SecuringthehighestmarkinIE01:PrinciplesofAccountingofKnowledge

Level

FatemaAkterNila(2016200082)

CMADecember

201710,000.00

SecuringthehighestmarkinGE04:Fundamentalsof

BusinessEconomicsofBusinessLevel

MahbubaSultana(2017201191)

CMADecember

201710,000.00

SecuringthehighestmarkinGE05:Fundamentals

ofEthics,CorporateGovernanceandBusiness

LawofBusinessLevel

KhandakerMohammedRuhulAmin

(2017200835)

CMADecember

201710,000.00

SecuringthehighestmarkinGE03:FundamentalsofBusinessMathematicsof

BusinessLevel

JisanAhmedRoky(2018100357)

CMAJune2018

SilverMedal

Securingtheaveragemarks62%eachsubjectof

KnowledgeLevel


Md.SanaullahFahim(2016200364)

CMAJune2018

10,000.00

SecuringthehighestmarkinGE03:FundamentalsofBusinessMathematicsof

BusinessLevel

Md.ShofiqulIslam(2017100161)

CMAJune2018

10,000.00

SecuringthehighestmarkinGE04:Fundamentalsof

BusinessEconomicsofBusinessLevel

AshrafoulMaajBabar(2018101348)

CMAJune2018

10,000.00

SecuringthehighestmarkinGE05:Fundamentals

ofEthics,CorporateGovernanceandBusiness

LawofBusinessLevel

RupamChowdhury2017101317

CMAJune2018

15,000.00

SecuringthehighestmarkinR1:LegalEnvironment

ofBusinessofOperationalLevel.

Awarding Scholarships to the Meritorious studentsInordertosupportthepoorbutmeritoriousstudents,theInstituteawardedscholarshipsfromtrustfundsestablishedbygenerousdonors.ThisyeartheInstituteawardedscholarshipsofTk.2,56,000to eighteen students from different trust funds in a ceremonial function held onApril 10, 2018 atICMABRuhulQuddusAuditorium,Dhaka.TrusteesoftheFundswerepresentduringthefunctionandhandedoverthescholarshipstotherecipients.Theamountpaidfromeachfundisasfollows:




Trust NamesAmount of Scholarship

Paid (Taka)

A.F.MujiburRahmanFoundation 1,68,000.00

RuhulQuddusMemorial(ICMAB)Trust 15,000.00

MuzaffarAhmedMemorial(ICMABangladesh)Trust 24,000.00

Al-hajTofazuddinandGolapjanMemorial(ICMABangladesh)Trust

10,000.00

SyedManzurElahiScholarship 24,000.00

NurulHassanMemorial(ICMAB)Trust 10,000.00

M.AMatinandDr.NilufarMatinWelfare(ICMAB)Trust 5,000.00

A new Trust Fund has been created in the name of “Jamal Ahmed Choudhury FCMA Special Award Fund”DuringthepreviousyearMr.JamalAhmedChoudhuryFCMAdonatedanamountofTk.200,000.00toestablishaTrustFundinthenameof“JamalAhmedChoudhuryFCMASpecialAwardFund”.ThisyearhefurthercontributedTk.210,000.00tothefund.Hence,thetotalamountofthefundisnowTk.410,000.00.AtrustrulehasbeenformulatedinthesaidnameandapprovedbytheCouncilaccordingly.

ICMAB LibraryAdditional BooksAspartofourcontinuousefforttoenrichthelibrary,onehundredthirtyfivecopiesoftextandreferencebookshavebeenprocuredforDhakaandotherbranchesduringthereportingperiod.ICMABiscloselyworkingwithRobiAxiataLimitedtointroducee-libraryfacilitiesforthestudents.RobihasalsoagreedtorefubrishtheentirelibraryofICMAB.




ICMAB students participated in SAFA Quiz and Elocution Contest, 2018TheCommitteeonEducation,TrainingandCPDofSouthAsianFederationofAccountants(SAFA)atits33rdmeetingheldonAugust12,2016inKathmandu,NepalhaddecidedthataQuizandElocutioncontesttobeorganizednationallyforthestudentsofallSAFAmemberbodies.Thewinnersofsuchcompetitionatnational levelwillparticipate intheSAFAQuizandElocutioncontestwhichwillbehostedeveryyearinJanuarybythememberbodyhavingSAFAPresidency.ThefirstSAFAQuizandElocutionContest,2017washostedbytheinstituteofCharteredAccountantsofBangladesh(ICAB)onJanuary28,2017inDhaka,Bangladesh.

ThisyeartheSAFAQuizandElocutionContest,2018washeldonJanuary30,2018 inKathmandu,Nepal which was hosted by the Institute of Chartered Accountants of Nepal (ICAN). ICMAB hasnominatedfollowing3studentstoparticipateinthesaidSAFAQuizandElocutionContest,2018.

Sl. No Name Nominated for

1 MohammedAbuYousuf QuizandElocutionContest

2 MohammedZiaulHaque QuizContest

3 RaihanulHaqueBhuiyan ElocutionContest

Total15participantsfrom8memberbodiesof6SAARCcountriescontestedinthesaidcompetition.ICMAB&ICABfromBangladesh,ICAIfromIndia,ICAPfromPakistan,ICANfromNepal,CPAAfganistanfromAfganistanandCASriLanka&CMASriLankafromSriLankahavenominatedcontestantsfromrespectivebodies.

InQuizcontest, ICANbecameChampion,ICAP&CASriLankahold2nd&3rdpositionrespectivelyandICMABscored4thposition.InElocutioncontest,participantsofICAIwontheChampionwhereasparticipantsfromICABbecome1stRunnerupand2ndrunnerup.

AmongotherstheeventwaswitnessedbyIAESBChairmanalongwithIFACExecutiveDirector,andPresidentCIPFAasJURY.

Reception to the CMAs passed in December 2017 and June 2018 examinations


Observance of International Accounting Day-2018The Institute of Cost and Management Accountants of Bangladesh (ICMAB), a member InstituteInternational Federation of Accountants (IFAC), Confederation of Asian and Pacific Accountants(CAPA) and South Asian Federation of Accountants (SAFA) on 10 November, 2018 observed the“InternationalAccountingDay” topromote theaccountingprofession inBangladesh.Marking theday,theICMABbroughtoutacolorfulrallyfromitsofficebuildinginthecity’sNilkhetareathatdaymorningandreturnedhereafterparadingtheTSCandCentralShaheedMinar.

LedbyformerPresidentsofICMABMr.RafiqAhmadFCMA,Mr.M.AbulKalamMazumdarFCMA,Mr.Md.AbdulAzizFCMA,Prof.MamtazUddinAhmedFCMA,ICMABsecretaryMr.Md.AbdurRahmanKhanFCMA,treasurerProf.Dr.SwapanKumarBalaFCMA,CouncilMembersMr.Md.MamunurRashidFCMA, Mr. Md. Munirul Islam FCMA, Kazi Muhammad Ziauddin FCMA, StudentAffairs Committee,ChairmanMr.MShafiqulAlamFCMA,FellowandAssociatemembersandalargenumberofstudentsparticipatedintherally.


Members and Students at ICMAB Auditorium on International Accounting Day


Students Summit held at ICMAB on occasion of CMA Day-2018TheStudentAffairsCommitteeofICMABorganizedaStudents’SummitonThursday,November15,2018from3:00p.m.to10:00p.m.atICMABRuhulQuddusAuditorium,ICMABhaban,Nilkhet,Dhaka.

ThefinalroundofPublicSpeakingContestwasheldinthesummit.Thewinners(1st,2nd&3rd)ofthepublicspeakingcontesttobesenttoIndiaforparticipatinginasimilarcontestorganizedbyICAI,India.Atthattime,theywillgetaPrizeMoneyoftk.15,000,12,000and10,000respectively.Theresultofthecontestisasfollows:

Sl. No. Name Registration No. Position

01 RaihanulHaqueBhuiyan 20153392 1st

02 Md.MonirulIslam 2017200108 2nd

03 Md.SadmanChowdhury 2017100035 3rd

TherewereFinanceleadershipsessionsby(i)Mr.ArifKhanFCMA,CEO&MDofIDLCFinanceLimited(ii)Mr.Md.KausarAlamFCMA,GroupCFO&CompanySecretary,SevenCircle(Bangladesh)Ltd.and(iii)Mr.EliasAhmedFCMA,CFO,MaricoBangladeshLtd.

There also had Experience sharing session by two newly qualified CMAs (i) Mr. Nur-Alam (Palash)ACMA(A-1379)and(ii)Ms.SultanaJahan(Mili)CMA

Mr.MohammedSalimFCMA,PresidentoftheInstitute,Mr.Md.AbdurRahmanKhanFCMA,SecretaryMr.Md.ShafiqulAlamFCMA,Chairman,StudentsAffairsCommitteeandothermembersofthecommitteewerepresentinthesummit.Around241pre-registeredstudentsparticipatedinthatsummit.


Awarding Certificates by the President


Senior Secretary, Legislative & Parliamentary Affairs DivisionAdelegationof ICMABledby itsPresidentMr.MohammedSalimFCMAcalledonMr.MohammadShahidul Haque, Senior Secretary, Legislative & ParliamentaryAffairs Division, Ministry of Law andParliamentaryAffairs,GovernmentofthePeople’sRepublicofBangladeshathisofficeonMarch14,2018 todiscussnationaleconomic issuesandprofessionalmatters related to ICMAB.PresidentofICMABthankedtheSeniorSecretaryforhiscontinuoussupportintheprocessofenactmentofCostand Management Accountants Act 2018 for thedevelopmentofCMAprofessioninBangladesh.HeupdatedtheSecretaryaboutthegeneralaffairsoftheInstituteandroleofCMAprofessionalsintrade,business,industry,servicesectorsandalsooveralleducationandexaminationsystemoftheInstitute.TheSecretaryassuredfullGovernmentsupporttothe Instituteandaskedthe ICMABdelegationtowork hard with ethics and professional integrityforthedevelopmentofthecountryfurther.

Minster, Housing and Public WorksAdelegationofICMABledbyitsPresidentMr.MohammedSalimFCMAcalledonEngineerMosarrafHossainMP,Minister,MinistryofHousingandPublicWorks,GovernmentofthePeople’sRepublicofBangladeshathisofficeonMarch27,2018.

TheICMABPresidentappraisedtheMinisterregardingthepresentstatusandactivitiesoftheInstituteincludingtheprofessionaleducationalsystemanditsinternationalexposureandsoughtalloutsupportfromtheGovernmentforitsfurtherandrapiddevelopment.TheMinisterhighlyappreciatedtheroleofthecostandmanagementaccountantsintheeconomicdevelopmentofthecountryandassuredtoprovidefullco-operationforthedevelopmentofCMAprofession.Amongothers,PastPresidentMr.M.AbulKalamMazumdarFCMA,SecretaryMr.Md.AbdurRahmanKhanFCMAandExecutiveDirectoroftheInstituteMr.Md.MahbubUlAlamFCMAwerepresentinthemeeting.

Meeting with DignitariesThroughout the year the Institute maintained strong liaison with its stakeholders including government and regulatory bodies

LIAISON WITH GOVERNMENT AND REGULATORY BODIES


Secretary, Ministry of FinanceA delegation of ICMAB led byits President Mr. MohammedSalim FCMA called onMr. Mohammad MuslimChowdhury,Secretary,FinanceDivision, Ministry of Finance,Government of the People’sRepublic of Bangladesh athis office on March 05, 2018to discuss national economicissuesandprofessionalmattersrelatedtoICMAB.

State Minister, ICTMr. Mohammed Salim FCMA, President of the Institute of Cost and Management Accountantsof Bangladesh (ICMAB) called on Mr. Zunaid Ahmed Palak MP, State Minister, Information andCommunicationTechnology(ICT)Division,GovernmentofthePeople’sRepublicofBangladeshathisofficeonMarch21,2018todiscussmattersrelatingtoICTdevelopment.

Mr.SalimappraisedtheStateMinisterabouttheprofessionalexpertiseoftheCostandManagementAccountants and their role in the industry and service sectors of the national economy. He alsorequested the Minister to create an opportunity where ICMAB can work with Information andCommunication Technology (ICT) Division and contribute with their specialized knowledge in ICTrelatedtraininganddevelopments.

TheStateMinisterbriefedabouttheVisionofthePresentGovt.onITSector.HeexpressedhisviewthatICMABcanworktogetherwithGovt.todevelopskilledmanpoweronAccountingandFinanceunderbusinessprocessoutsourcing(BPO)programwheretherearehugeopportunitiestoenhancetheskillsoftheyounggenerationsaswellasearningforeigncurrencyforthecountrylikeSriLankaandIndia. TheStateMinisterassuredthe ICMABdelegationtoextendnecessaryco-operationforthedevelopmentofCMAprofessioninBangladesh.TreasurerProf.Dr.SwapanKumarBalaFCMAandExecutiveDirectoroftheInstituteMr.Md.MahbubUlAlamFCMAwerepresentinthemeeting.



Senior Secretary, Ministry of CommerceAdelegationofICMABheadedbyitsPresidentMr.MohammedSalimFCMAcalledonMr.ShubhashishBose,SeniorSecretary,MinistryofCommerce,GovernmentofthePeople’sRepublicofBangladeshat his office on April 4, 2018. ICMABPresidentupdatedthehonorableSecretaryabout the overall affairs of the Instituteand particularly about the developmentissues of CMA profession. He also soughthelpoftheSeniorSecretaryforexpeditingthe process of enactment of CMA Act inparliament and further development ofICMAB and the Secretary assured him toprovide all out support and assistance toICMAB.

Chairman, Financial Reporting Council (FRC)AdelegationofICMABheadedbyitsPresidentMr.MohammedSalimFCMAcalledonMr.C.Q.K. Mustaq Ahmed, Chairman,Financial Reporting Council(FRC) at his office on April 10,2018.

ICMAB President updated thehonorableChairmanabouttheoverall affairs of the Instituteand particularly about thedevelopment issues of CMAprofession.HealsosoughthelpoftheChairmanforfurtherdevelopmentofICMAB.FRCChairmanassuredtoprovidealloutsupportandassistanceforthedevelopmentCMAprofessioninBangladesh.AmongothersPastPresidentMr.M.AbulKalamMazumdarFCMAandExecutiveDirectorMr.Md.MahbubUlAlamFCMAwerepresentinthemeeting.


ICMAB President thanked the Secretary for his continuous support for the development of CMAprofession in Bangladesh. He updated the Secretary about the general affairs of the Institute androleofCMAprofessionalsintrade,business,industry,servicesectorsandalsooveralleducationandexaminationsystemof the Institute.Secretaryappraisedthe Institute formaintaining internationalstandardsintheeducationsystem.TheSecretaryadvisedthedelegationabouttheCostAccountingStandard, cost based accounting, Integrated Reporting System, Performance Reporting etc. HeassuredfullGovernmentsupporttotheInstituteandaskedtheICMABdelegationtoworkhardwithethicsandprofessionalintegrityforthedevelopmentofthecountry.PastPresidentMr.M.AbulKalamMazumdarFCMAandExecutiveDirectoroftheInstituteMr.Md.MahbubUlAlamFCMAwerepresentinthemeeting.


Chairman, BSECAdelegationoftheInstituteofCostandManagementAccountantsofBangladesh(ICMAB)headedbyitsPresidentMr.MohammedSalimFCMAcalledonDr.M.KhairulHossain,Chairman,BangladeshSecuritiesandExchangeCommission(BSEC)athisofficeonApril09,2018.

TheICMABpresidenthasexpressedheartfeltthankstotheChairman,BSECforthemodernizationandsuccessfuloperationofcapitalmarketinrecentdays.ThepresidentappreciatedtheupgradationofBangladeshSecuritiesandExchangeCommission(BSEC)toA-categoryfromB-categorybytheInternationalOrganizationofSecuritiesCommissions(IOSCO)whichreflectstheuntiringeffortoftheChairmantoensureamoredisciplinedmarketandhelpattractmoreforeigninvestments.

ThePresidentalsoappreciatedthedemutualizationschemewhichsuccessfullybroughtcorporatecultureinstockmarket.ProfitorientationtargetgivesanewchallengebeforethestockexchangeswhichisthedemandofthetimeandBangladeshcapitalmarketcansuccessfullydothatonlyduetotheuncompromisingleadershipoftheChairman.PresidentbroughtthecorporategovernanceissuesasobservedbydifferentstakeholderinBangladeshtothenoticeofthechairman.

BSEC has played a significant role in ensuring transparency and accountability through the newCodeofCorporateGovernance.TheBSECChairmanappreciatedtheeffectivecontributionofCostand Management Accountants and their relentless effort in the business and industrial sectorsin the country. He also assured all possible assistance for the development and enhancement ofprofessionalbondagebetweenICMABandBSEC.



Governor, Bangladesh Bank

AdelegationofICMABheadedbyitsPresidentMr.MohammedSalimFCMAcalledonMr.FazleKabir,Governor,BangladeshBankathisofficeonMay20,2018.ICMABPresidentupdatedtheGovernorabouttheoverallaffairsoftheInstituteandparticularlyaboutthedevelopmentissuesofCMAprofession.Inthemeeting,ICMABofferedproposalsonseveralareasoftheBankingandNBFISectorsforusingthe services of the CMAs.The Governor agreedwith the proposals placed by ICMAB and assuredprovidingalloutsupportandassistanceto the Institute. AmongotherspastPresidentsof ICMABMr.MuzaffarAhmedFCMA,Mr.M.AbulKalamMazumdarFCMA,Mr.ArifKhanFCMAandExecutiveDirectoroftheInstituteMr.Md.MahbubUlAlamFCMAwerepresentinthemeeting.

Senior Secretary, Financial Institutions DivisionAdelegationofICMABheadedbyitsPresidentMr.MohammedSalimFCMAcalledonMr.Md.EunusurRahman, Senior Secretary, Financial Institutions Division, Ministry of Finance, Government of thePeople’sRepublicofBangladeshathisofficeonApril26,2018.

ICMAB Presidentupdated thehonorable SeniorSecretary aboutthe overall affairsof the Instituteand particularlythe developmentissues of CMAprofession. He alsosought help of theSecretaryforfurtherdevelopment ofICMAB and theSecretary assured him to provide all out support and assistance to ICMAB. Among others FellowMemberMr.MohammadMonowarHossainFCMAandExecutiveDirectorMr.Md.MahbubUlAlamFCMAwerepresentinthemeeting.

LIAISON WITH GOVERNMENT AND REGULATORY BODIES LIAISON WITH GOVERNMENT AND REGULATORY BODIES


Chairman, IDRAA delegation from ICMAB headed by its President Mr. Mohammed Salim FCMA called on Mr. Md.Shafiqur Rahman Patwari, Chairman, Insurance Development & Regulatory Authority (IDRA) at hisoffice on May 31, 2018. ICMAB Presidentupdated the Chairman about the overallaffairs of the Institute and particularly aboutthedevelopmentissuesofCMAprofession.HealsosoughthelpoftheChairmanforfurtherdevelopment of ICMAB and the Chairmanassured him to provide all out support andassistancetoICMAB.

Among others Past President Mr. M. AbulKalam Mazumdar FCMA and ExecutiveDirectorMr.Md.MahbubUlAlamFCMAoftheinstitutewerepresentontheoccasion.

Minister, Ministry of Finance Adelegationof ICMABledbyitsPresidentMr.MohammedSalimFCMAcalledonMr.AbulMaalA.MuhithMP,Minister,MinistryofFinance,GovernmentofthePeople’sRepublicofBangladeshathisofficeonJuly25,2018.

ICMABPresidentappraisedtheFinanceMinisterabouttheroleofCostandManagementAccountantsand their contribution towards the establishment of transparency, accountability and corporategovernance in the business and industrial sectors of our country. The delegation sought activeguidance and support of the honorable Finance Minister for development of CMA Profession andtheInstitute.FinanceMinisterassuredtheICMABPresidentandthemembersofthedelegationofhis continued support for the betterment of CMA profession in the continuously changing globalenvironment. Among others, Vice-Presidents Mr. M. Abul Kalam Mazumdar FCMA & Mr. Arif KhanFCMA,SecretaryMr.Md.AbdurRahmanKhanFCMA,TreasurerProf.Dr.SwapanKumarBalaFCMAandExecutiveDirectoroftheInstituteMr.Md.MahbubUlAlamFCMAwerepresentinthemeeting.



Member (Sr. Secretary), GED, Ministry of PlanningAdelegationoftheInstituteofCostandManagementAccountantsofBangladesh(ICMAB)headedbyitsPresidentMr.MohammedSalimFCMAcalledonDr.ShamsulAlam,Member(Sr.Secretary),GeneralEconomic Division, Ministry ofPlanning, Government of thePeople’s Republic of BangladeshathisofficeonJuly16,2018.

ICMAB President updated thehonorable Senior Secretaryabout the overall affairs of theInstitute and particularly aboutthe development issues of CMAprofession. He also sought helpof the Secretary for furtherdevelopment of ICMAB and theSecretary assured him to provideall out support and assistance toICMAB

ICMAB Delegates meets Commerce MinisterOn31October2018,ICMABdelegationheadedbyitsPresidentMr.MohammedSalimFCMAmeetsMr. Tofail Ahmed MP, Honorable Minister, Ministry of Commerce, GoB and expressed gratitude tohimforhissignificantcontributionforpassingtheCostandManagementAccountantsAct,2018on29/10/2018byBangladeshNationalParliament.SecretaryMr.Md.AbdurRahmanKhanFCMAandExecutiveDirectorMr.Md.MahbubUlAlamFCMAwerepresentinthedelegation.



President of the Institute Mr. Mohammed Salim FCMA had a courtesy meeting with Dr. Muhammad Abdur Razzak MPPresident of the Institute Mr.Mohammed Salim FCMA hada courtesy meeting with Dr.Muhammad Abdur RazzakMP, former Minister, Ministryof Food, GoB and Chairman,Parliamentary StandingCommittee on Ministry ofFinanceonJuly11,2018.

Meeting with Secretary, Financial Institutions DivisionICMABPresidentjoinedameetingwithMr.Md.AshadulIslam,Secretary,FinancialInstitutionsDivision,MinistryofFinance,GoB,GlobalReportingInitiative(GRI)andICMABonSeptember24,2018.SecretaryofFinancialInstitutionsDivisiongavewarmthhospitalitytotheparticipantsathisoffice.FromGRIMr.PietroBertazzi,HeadofSustainabilityandDr.AditiHalder,Director,SouthAsia joinedthemeeting.ExecutiveDirectorofICMABMr.Md.MahbubUlAlamFCMAalsojoinedthemeeting.

Another meeting on September 13, 2018ICMAB’sanotherveryeffectivemeetingwithMr.Md.AshadulIslam,Secretary,FinancialInstitutionsDivision,MinistryofFinance,GoBheldonSeptember13,2018athisoffice.HeassuredtojoinICMAB’sInternationalConferenceonAchievingSustainableDevelopmentGoals(SDGs):ChallengesandWayForwardasSessionChairmanon23rdSeptember2018atPanPacificSonargaonHotel.



Seminar on Accounting Business Process Outsourcing (BPO)ICMAB arranged a Seminar on the theme“Accounting Business Process Outsourcing (BPO)”atICMABRuhulQuddusAuditorium,DhakaonApril04, 2018. Mr. Zunaid Ahmed Palak MP, HonorableState Minister, Information and CommunicationTechnology (ICT) Division, Government of thePeople’s Republic of Bangladesh attended theprogram as Chief Guest while Mr. Mahtab UddinAhmedFCMA,ManagingDirector&CEO,RobiAxiataLtd.attendedtheprogramasGuestofHonour.

The Honorable State Minister gave a presentationonthelatestdevelopmentofdigitalizationprocessof the country. He also inaugurated the VirtualE-learning system of the Institute. Mr. Md. AbdulHakimBhuiyanFCMA,Chairman&ManagingDirector,KichaiITServicesLtd.UnitedKingdompresentedpaper on “Accounting Business Process Outsourcing (BPO)” and Syed Asif Aziz CPA, CGA, ACCA,Managing Partner, A&M Partners (Finance Accounting Outsourcing) presented paper on “FinanceAccountingOutsourcing”intheSeminar.Mr.MohammedSalimFCMA,PresidentICMABpresidedovertheSeminar.Mr.Md.AbdurRahmanKhanFCMA,Secretary ICMABandMr.Md.KausarAlamFCMA,Vice-Chairman, Seminar & Conference Committee also attended the program. A good number ofprofessionalCMAstookpartinthequestion&answersessionwhichmadetheprogramverylively.


ICMABorganizedaConferenceonthetheme“ChangingCorporateReportingLandscape”atICMABRuhul Quddus Auditorium, Dhaka on January 13, 2018. The conference addresses two emergingcorporatereportingframeworks,i.e.,sustainabilityreportingandintegratedreporting,whichchangedthe corporate life of professional accountants significantly. Two renowned globally acclaimedprofessionalsactedastheresourcepersonsintheconference.Dr.AtaurRahmanBelalFCA,FCCA,FCMA, Professor and former Head, Department of Accounting, Aston University, UK presentedtechnicalpaperon ‘RoleofAccounting inSustainableDevelopment’during thefirstsessionwhileDr.A.K.M.ZahirulHoqueFCPA,FCMA,ProfessorofManagementAccounting/PublicSector,LaTrobeUniversity,Australia presented a paper on Integrated Reporting-Fundamentals, Opportunities andChallengesinthesecondsessionrespectively.TheconferencebeganwiththewelcomeaddressofMr.JamalAhmedChoudhury,FCMA,PresidentICMABandendedwiththevoteofthanksfromMr.Md.AbdurRahmanKhanFCMA,SecretaryICMAB.

Conference on Changing Corporate Reporting Landscape

CONFERENCE, SEMINAR, WORKSHOP AND TRAINING



Seminar on Leadership: Driving Performance through DiversitySeminar on “Leadership: Driving Performance through Diversity” hosted by ICMAB held at SIXSEASONSHotel,Gulshan,DhakaonMay6,2018.CommerceSecretaryMr.ShubhashishBoseattendedtheprogramasChiefGuestwhileMr.Md.ReazulKarimFCMA,ManagingDirector&CEO,PremierBankLimitedattendedtheprogramastheGuestofHonour.Mr.JohnC.Dalton,President,DaltonConsulting,USA presented paper on “Leadership: Driving Performance through Diversity” in the Seminar as

Resource Person. Mr. Md.Aminul Islam Khan,Additional Secretary, Ministry of Local Government,RuralDevelopment&Co-operatives,Governmentof thePeople’sRepublicofBangladesh,Mr.ArifKhanFCMA,CEOandManagingDirector,IDLCFinanceLimitedandPastPresidentofICMAB,QuaziMAhmed,CEO,BangladeshOrganizationforLearningandDevelopment(BOLD),Mr.EzazurRahman,CEO, Mind Mapper Bangladesh, Mr. Md. Maksudur Rahman FCMA, Senior Director, EDISON Group,BangladeshwerepresentasPanelists.Theydiscussedas tohowthesoftskillsarebeingusedtoempowerworkers.Theyrespondedtotheinitialpresentationthatsetsthethemeandthenofferedsuggestions to the audience about how the new leadership skill set can be nurtured from belowand/orsharpenedasatoolforadvancement.Mr.MohammedSalimFCMA,PresidentoftheInstitutepresided over the Seminar. Mr. Md. Kausar Alam FCMA, Vice-Chairman, Seminar & ConferenceCommitteeofferedwelcomespeechattheprogram.AgoodnumberofprofessionalCMAstookpartinthequestion&answersessionwhichmadetheprogramverylively.

CPD program on “IFRS: 16 and IAS: 12” CPDprogramon“IFRS:16andIAS:12” held at ICMAB Ruhul QuddusAuditorium,DhakaonJuly19,2018where Mr. Mohammed Ibrahim,Managing Director & CEO, SuperStar Group attended the programasChiefGuest.

Mr. Md. Monowar Hossain FCS,FCA, FCMA, General Manager& Head of Internal Control andCompliance(ICC),AgraniBankLtd.presentedpaperon“IAS:12”andMr.Md.ShafiqulAlamACS,FCA,FCMA,AdvisorFinance&NominatedDirector,SuperStarGrouppresentedpaperon“IFRS:16”intheprogramrespectively.

Mr.MohammedSalimFCMA,PresidentICMABpresidedovertheprogram.Mr.Md.KausarAlamFCMA,Vice-Chairman,Seminar&ConferenceCommitteedeliveredwelcomespeechwhileMr.Md.AbdurRahmanKhanFCMA,SecretaryICMABofferedvoteofthanks.AgoodnumberofprofessionalCMAstookpartinthequestion&answersessionwhichmadetheprogramveryinteractive.


Seminar on Sustainability Reporting ICMAB arranged a seminar on “Sustainability reporting towards achieving SDGs” at ICMAB RuhulQuddusAuditorium,DhakaonJuly27,2018.

Mr.C.Q.K.MustaqAhmed,Chairman,FinancialReportingCouncil(FRC)andMr.Md.EunusurRahman,Senior Secretary, Financial Institutions Division, Ministry of Finance, Government of the People’sRepublicofBangladeshattendedasChiefGuestsintheInauguralsessionandTechnical&Plenarysessionsrespectivelyintheseminar.Dr.Md.SalimUddinFCMA,Chairman,HouseBuildingFinanceCorporationandProfessor,DepartmentofAccounting,UniversityofChittagongattendedasSpecialGuestintheTechnicalSession–II.

Mr.MohammedSalimFCMA,PresidentICMABpresidedovertheprogram.Mr.Md.KausarAlamFCMA,Vice-Chairman,Seminar&ConferenceCommitteedeliveredthewelcomespeechwhileMr.Md.AbdurRahmanKhanFCMA,SecretaryICMABofferedvoteofthanksintheprogram.

Dr. Aditi Haldar, Director, GRI South Asia and Ms. Rubina Sen, Senior Coordinator, GRI South Asiapresentedpaperson”SustainabilityreportingtowardsachievingSDGs”intheTechnicalSession–I.

Mr.Md.TouhidulAlamKhanFCMA,DeputyManagingDirector&ChiefBusinessOfficer,PrimeBankLtd. presented a paper on “Sustainability reporting towards achieving Sustainable DevelopmentGoals(SDGs)inBankingsectorofBangladesh”,Mr.EliasAhmedFCMA,ChiefFinancialOfficer,MaricoBangladeshLtd.presentedapaperon“SustainabilityreportinginCorporateArena”andMr.NepoleonDewan,SeniorAssistantChief,GeneralEconomicsDivision(GED),PlanningCommission,MinistryofPlanning,GovernmentofthePeople’sRepublicofBangladeshpresentedapaperon“ReportingSDGsatNationallevelandnextsteps”intheTechnicalSession-IIoftheseminarasResourcePersons.

Mr.ArifKhanFCMA,CouncilMember,PastPresident,ICMABandCEO&ManagingDirector,IDLCFinanceLtd. was present as moderator in Plenary Session. Prof. Dr. Swapan Kumar Bala FCMA, Treasurer,ICMAB&Commissioner,BangladeshSecurities&ExchangeCommission,Dr.Md.SalimUddinFCMA,Chairman,HouseBuildingFinanceCorporationandProfessor,DepartmentofAccounting,UniversityofChittagongwerepresentinPlenarySessionasPanelists.AgoodnumberofprofessionalCMAstookpartinthequestion&answersessionwhichmadetheprogramverylively.

CONFERENCE, SEMINAR, WORKSHOP AND TRAINING CONFERENCE, SEMINAR, WORKSHOP AND TRAINING



Discussion on Role of Cost and Management Accountants on Organizational Growth ICMAB organized the discussion session to exchange professionalviewswith senior HR Experts &TalentManagementPartnersandHRRecruitingFirmsonMonday,August13,2018atSixSeasonsHotel, House-19, Road-96, Gulshan-2, Dhaka-1212. The aim of the session was to make a bridgebetween two professional groups towork together to achieve synergy in the corporate level.ThecollaborationbetweenHRleadersandICMABwillbringpositivevalueforoureconomy.Thiscloserelationship with CMAs and other Experts would help to achieve organizational goal. The overallactivitiesofICMABwashighlightedinthesession.

CouncilMembersoftheInstituteandleadingCMAprofessionalsattendedtheProgram.Theprogrampreceded by a brief discussion session to provide an overview of the Institute and its members.The gathering gave an excellent opportunity for both to exchangeviews and discussed issues ofmutualprofessionalinterest.ThePresidentofICMABsaidthatICMABmaintainsworldclasscoursecurriculumanditsqualificationisrecognizedintheglobalmarket.ICMABmembersareworkingatthetoppositionsinthedifferentsectorsofthecountryaswellintheinternationalarena.Asamemberbodyof IFAC,CAPAandSAFA, ICMAB’smembersmaintainhighest levelofprofessionalethicsandcode of conducts at their own working place. ICMAB members always update their knowledgewith changing business environment through Continual Professional Development Program (CPD)organizedbytheInstituteonregularbasis.ThePresidentalsosaidthatthereareenoughtalentedprofessionalaccountantsinourcountrywhohaveintegritytothenationandrequestedtheHRleaderstorecruitmorelocalprofessionalaccountantstogetthecompetitiveadvantagesinthelongrunandsavehugeamountofforeigncurrencyasbillionsofdollarsarenowtransferringtoourneighboringcountriesforhiringunnecessaryforeignprofessional.Mr.Md.MusharrofHossain,FounderPresident,FederationofBangladeshHumanResourceOrganizations(FBHRO)waspresentasChiefGuest.Mr.MohammedSalimFCMA,PresidentICMABpresidedovertheprogram.Mr.MohammadAlamgirFCMA,Chairman,PlacementCommitteedeliveredthewelcomespeechwhileMr.Md.AbdurRahmanKhanFCMA,SecretaryICMABofferedvoteofthanksintheprogram.

Mr. Roomee Tareque Moudud FCMA, Director, American International University, BangladeshpresentedathemepaperonCMAProfession.Mr.QuaziM.Ahmed,FounderandCEO,FutureLeaderswaspresentasmoderator.MohammadMashequrRahmanKhan,PresidentofBangladeshSocietyforHumanResourcesManagement(BSHRM)wasalsopresentattheprogram.Prof.Dr.HasnanAhmedFCMA,Pro-ViceChancellorofUnitedInternationalUniversity,Prof.Dr.F.A.Sobhani,Director,MIHRMProgram,UnitedInternationalUniversity,Dr.YMIslam,ViceChancellor,DaffodilInternationalUniversity,SyedaZakeerinBakhtNasir,ChiefConsultant&CEO,ZNConsultants,Mr.GofranFarooque,Director&COO,e-zoneandMr.ZulfiquarHussain,CEO,GrownExcel,K.Sattar,ManagingDirector,CONSUMARKexpressedtheirviewsandvaluablecommentsinthediscussionsession.AgoodnumbersofseniorHRprofessionalsfromdifferentcorporatesectorsofthecountrywerepresentintheprogram.


CONFERENCE, SEMINAR, WORKSHOP AND TRAINING CONFERENCE, SEMINAR, WORKSHOP AND TRAINING

200 hours long “Young Leadership Development Training Program” inaugurated by the Senior Secretary, Ministry of Commerce200 hours long training program (2nd batch)on “Young Leadership Development” wasinaugurated on October 31, 2018 at ICMABAuditorium,Dhaka.

Mr. Shubhashish Bose, Senior Secretary,Ministry of Commerce, Government ofthe People’s Republic of Bangladesh wasinaugurated the ceremony as Chief Guest.This 200 hours long Young LeadershipDevelopment Training Program has beendevelopedundertheleadershipofICMABYoungLeadershipDevelopmentCommitteechairedbyMr.NabaKrishnaMuniFCMA.Mr.MohammedSalimFCMA,PresidentoftheInstitutepresidedovertheprogram.Mr.Md.AbdurRahmanKhanFCMA,SecretaryoftheInstituteofferedvoteofthanks.AgoodnumberofprofessionalCMAstookpartintheprogram.

Professional Induction Programme heldProfessional InductionProgrammefornewlyqualifiedCMAs was held on October26,2018atHotelSixSeasons,Gulshan-2. 37 newly qualifiedCMAs,Officebearersandgoodnumberofmembersattendedthe program. The programwas organized by YoungMembership DevelopmentCommitteeofICMAB.

70 hours training program on Business and Financial Modeling70 hours training programon “Business and FinancialModeling”started at the newlyestablishedITLaboratoryofICMABsinceSeptember11,2018.


REPRESENTATION IN REGIONAL AND GLOBAL FORUMS

President attends a CIMA Meeting in Dhaka ICMAB President Mr. Mohammed SalimFCMAattendsameetingwithMr.BhaskarRanjanDas,HeadofMarkets-SouthAsia,CIMA,Mr.AjayLalwani,CountryManager-South Asia, CIMA and Ms. ZareefTamannaMatin,HeadofMarketing,CIMABangladeshonApril8,2018inDhaka.

GRI delegates met the PresidentMs. Rubina Sen, Senior Coordinator,GRISouthAsiaandMs.PallaviAtre,GRISouth Asia met ICMAB President at thePresident’s Office, ICMA Bhaban, Dhakaon May 22, 2018. The delegates agreedto jointly organize a conference onSustainability Reporting and SDG in thelastweekofJuly,2018.ExecutiveDirectorofICMABMr.Md.MahbubUlAlamFCMAwasalsopresentontheoccasion.

ICMAB Council Members Actively Represent in SAFA Board, Assembly, Committees Meetings & SAFA ICAI International ConferenceSAFABoard,Assembly,CommitteesMeetings&SAFAICAIInternationalConferenceheldfromJune28to30,2018atHotelTajDiplomaticEnclave,NewDelhi,IndiawhereICMABrepresentativesattendedandplayedverycrucialroleinalltheevents.TheInstituteofCostAccountants of India organized these meetings & SAFA Conference. Prof. Mamtaz UddinAhmedFCMA,PastPresidentofICMABparticipatedintheSAFABoardandAssemblyMeetingasanactingmemberatSAFAboardandAssemblyonbehalfofMr.MohammedSalimFCMAPresident,ICMAB.AsmemberofSAFACommitteeonEducation,TrainingandCPDhealsoattendedthecommitteemeeting.Mr.M.AbulKalamMazumdarFCMA,PastPresidentofICMABattendedtheSAFACommitteeforImprovementinTransparency,AccountabilityandGovernance(ITAG)astheCommitteeMember.Mr. Mazumdar FCMA, attended the ICAI International Conference also. Mr. Md.Jalal Uddin, Govt.Nominated Council Member of ICMAB attended the SAFA Board Meeting & ICAI InternationalConferenceasanobserver.Mr.Md.MahbubUlAlamFCMA,ExecutiveDirectoroftheInstitutealsoparticipatedtheSAFACommittees,BoardMeetingsandICAIInternationalConference.



President and Secretary Attend in the SAFA and CAPA events at Kathmandu, Nepal

“52nd SAFA Board Meeting”, “CAPABoard Meeting and Annual GeneralMeeting”and“InternationalPublicSectorConference on Public Sector FinancialManagement: Enhanced Accountabilityand Transparency” were held from 11-13May,2018atKathmandu,Nepal. Instituteof Cost Accountants of Nepal (ICAN)organizedtheprograms.ICMABPresidentMr.MohammedSalimFCMAandSecretaryMr. Abdur Rahman Khan FCMA activelyparticipated in those programs. ICMABplaced a proposal in the ending sessionofthemeetingthataccountingprofessionis under threat due to Technologicalchanges and asked CAPA to takenecessary initiatives for preparedness ofitsmemberbodiestofacethechallenges.

SAFA and CAPA events at Kathmandu, Nepal



President attends “CMA Global Management Accounting Conference” in Sri Lanka as a Panel Discussant

ICMAB President Mr.Mohammed Salim FCMAwas invitedbytheInstituteof Certified ManagementAccountants of Sri Lankato participate in the “CMAGlobal ManagementAccounting Conference2018”asaPanelDiscussant.The theme of theconferencewas“IntegratedReporting-Future ofCorporateReporting”.

Mr. Salim attended inthe Inaugural Session-“Integrated Reportingand Value Creation” as aPanelist and put valuablecomments on the topic.He also attended thequestion and answers bytheparticipantsoftheprogram.

The conferencewas held onJuly 5, 2018 at Cinnamon Lake Side, Colombo. Representatives fromCAPA,SAFAandotherinternationalaccountingbodiesparticipatedintheconference.

CMA Global Management Accounting Conference



Round Table Discussion on“Increasing Competitive Edge throughSupply Chain Sustainability Management and Reporting”A Round Table Discussion on “Increasing Competitive Edge through Supply Chain SustainabilityManagementandReporting”washeldonSeptember25,2018SonargaonPanpacificHotel,DhakajointlyhostedbyICMABangladeshandGlobalReportingInitiative(GRI),Netherlands.ICMABpresidentMr.MohammedSalimFCMAchairedthediscussionsession.CQKMustaqAhmed,Chairman,FinancialReportingCounciljoinedtheprogramasChiefGuest.Dr.SwapanKumarBalaFCMA,Commissioner,BangladeshSecuritiesExchangeCommissionalsojoinedthediscussion.FromGRIMr.PietroBertazzi,Head of Sustainability Development, Dr. Aditi Haldar, Director, GRI South Asia, Ms. Rubina Sen,Coordinator,GRISouthAsiajoinedthediscussion.DifferentstakeholdersfromthecountryalsojoinedthediscussionsessionandgavetheircommentstoGRItoformulateanuniformpolicyandprovideitssupportforthecapacitybuildingtoimplementsuchofinnovativereports.GRIagreedtoprovidesuchtypeofsupportwithICMABinthecomingdays.

Supplychainsustainabilitymanagementandreportinginsmallandmediumenterprises(SMEs)inthecountryshouldbepopularizedforachievingSustainableDevelopmentGoals(SDGs).AGRIpublicationtitled ‘Empowering Small Business: Recommendations for policy makers to enable corporatesustainabilityreportingforSMEs’wasalsounveiledattheprogramme.Givingapresentationonthepublication,Mr.BertazzisaidcapacitybuildingofaccountingprofessionalsandSME-sectorpeople,policydevelopmentforreportingandaccountabilityofcompaniesandregulatorsarerequiredforpropersustainabilityreportingforSMEs.UnderliningthechallengestowardssustainabilityreportingforSMEs,hesaiddefinitionofSMEsvariescountrytocountrythatremainsabarriertoframeauniformpolicyforthesector.HealsosaidthereareveryfewpoliciesthatcatertoSMEsandalmostnoneareSME-specificwhenrelatedtosustainabilityreporting.HighlightingpreliminaryrecommendationsofGRIforSMEsustainabilityreporting,hesaidadoptionofnationalpoliciestargetedatlargeandlistedcompanieswithprovisionsthatincludesupplychainduediligence,canimpactSMEsindirectly.



President and Vice President attend SAFA Board & Committees Meetings in Sri Lanka

SAFABoard&CommitteeMeetingsheldfromOctober18-20,2018SriLankawhereICMABPresidentMr.MohammedSalimFCMAandPastPresidentMr.M.AbulKalamMazumdarFCMAattendedandplayedverycrucialroleinalltheevents.TheInstituteofCertifiedAccountantsofSriLankaorganizedthese meetings. Mr. M.Abul Kalam Mazumdar FCMA, Past President of ICMAB attended the SAFACommitteeforImprovementinTransparency,AccountabilityandGovernance(ITAG)astheCommitteeMember. The meetings were held at Hotel Citrus, Sri Lanka. SAFA Board decided that next SAFAProgramwillbeheldinBangladeshfrom8-10,December2018hostedbyICMAB.

President meets Ms. Mia Seppo, UN Resident Coordinator in Bangladesh

ICMABPresidentMr.MohammedSalimFCMAhadaveryeffectivemeetingwithMs.MiaSeppo,UNResidentCoordinatorandUNDPResidentRepresentativeinBangladeshonSeptember16,2018athis office. Ms. Mia accepted ICMAB’s invitation to join the“International Conference on AchievingSustainableDevelopmentGoals:ChallengesandWayForward”asGuestofHonourwhichwasheldon23rdSeptember2018atPanPacificSonargaonHotel,Dhaka.



President and Secretary joined

World Congress of Accountants (WCOA) 2018 in AustraliaWorld Congress of Accountants 2018 (WCOA) was held at the International Convention Centre,Sydney,Australia from5-8November2018.Theaugustprogramwas jointlyhostedbyCharteredAccountants of Australia and New Zealand, CPA Australia and the International Federation ofAccountants. President Mr. Mohammed Salim FCMA and Secretary Mr. Md. Abdur Rahman KhanFCMArepresentedICMABinthe20thWCOA.

Thisyear the theme of the conferencewas“Global Challenges, Global Leaders”.WCOA deliveredworldclassbusinessandfinancialevents,harnessedtheskillsandexpertiseofglobalprofessionoverfourdaysofinsightful,thoughtprovokingandinnovativesessions.Futureskillsofprofessionalaccountants like artificial intelligence, automation and opportunity, block chain, governance andperformance, corporate reporting, integrated thinking, business leadership skills, analytics forfinanceprofessional,globaltaxation,riskmanagement,SDGs,ethics,humanfactors,auditing,globalrisksandfutureshocksetc,werediscussedintheconference.

World Congress of Accountants (WCOA) 2018

President and Secretary with Sydney based CMAs in Australia


About 6000 professional accountants from 130 countries of the world joined the Conference inSydney,Australia.RepresentativesfromprofessionalorganizationslikeIFAC,CAPA,SAFA,CIPFA,IMA-USA,ACCA,AFAandCPAAustralia,InstituteofCharteredAccountantsANZSydney,AICPA,JCPAetcjoinedtheconference.PresidentjoinedintheveryeffectivemeetingsanddiscussedwithCIPFA,IMA-USA,ACCA,CAANZ,IPAAustralia,CPAAustralia,quickbook,TheInstituteofAnalytics(IoA)atWCOA,Sydney,Australiaformutualcollaborations.

Before that President and Secretary also joined in the various meeting of CAPA and SAFA from3-4/11/2018toworktogetheronthecommonissuesoftheprofessionaldevelopmentinabiggerforum at the Institute of Chartered Accountants ANZ Sydney. Mr. Md. TouhidulAlam Khan FCMA,Deputy Managing Director of Prime Bank Ltd, Mr. Abul Bashir Khan FCMA, CFO SMC EnterpriseLimited,Mr.AhsanulBariFCMA,ChairmanBariImpexLtd.,andMr.Md.HumayunKabirACMA,ChiefOperatingOfficerofAaronDenimLtdalsoparticipatedintheWCOAconference.TheysignificantlycontributedtotheWCOA.


CAPA Board Members in one frame


GOVERNANCE, ADMINISTRATION AND INFRASTRUCTURE

APA Training Following employees of the Institute participated a day long workshop on Annual PerformanceAgreement (APA)heldonOctober11,2018atMinistryofPublicAdministration,Governmentof thePeople’sRepublicofBangladesh.TheworkshopconductedbytheCabinetDivision,GovernmentofBangladeshunderAnnualPerformanceAgreementManagementSystem(APAMS)program.

Training of ICMAB Employees

Infrastructure

Training on Graphics Art To strengthen the capacity of Research & Publication Department Mr. Nizam Uddin, Officer of thisDepartmenthasbeengettingtrainingfromtheGraphicArtInstituteofDhaka.

1.Mr.Md.Hanif SystemSupportEngineer,ICT

2.TalukderMd.RSDawn AssistantDirector,Administration

Inauguration of ICT Training Lab

To familiarize newest IT changes in the world, Institute built a high-class and well equipped ITtraininglabforitsmember.IntheeraofdigitalworlditistherequirementoftimeforamodernITLab.Consideringthedemandoftimeandtofacetheglobalchallenges in ITsector,membersneedtocopeupwiththese.InlinewiththattheITlabhasbuiltwhichwillhelpourstudentsalsoforthefuturechallenges.Anarrayof40upgradedcomputerswithallITfacilitiespossessthelabanoutstandingoneforanyITrelatedtraining.AgoodnumberofITtrainingalreadyheldforMembersandstudentsoftheInstitute.TheITLabcertainlyfacilitateITskillenhancementtowardsprofessionalexcellence.Mr.ShubhashishBose,SeniorSecretary,MinistryofCommerce,GovernmentofthePeople’sRepublicofBangladeshinauguratedtheICMABDigitalTrainingLabon21stSeptember2018.


Exclusive Renovation work at 6th Floor (Council Floor)

The 6th floor (Council Floor)of the Institute has beenrenovated with modern andcorporate look. The lobbyand spacious corridor of thisfloorgotamagnificentview.3meetingroomshasbeennewlyconstructed to accommodate3/4 meeting room facilitiessimultaneously in this floor.The new Council room withultra-modern interior is nowas international standard.The 4 office bearers’ roomsalso got new shape and nowthese are in the south westsidewhich is more convenientfor official use of the officebearers.Mr.ShubhashishBose,Senior Secretary, Ministryof Commerce, Governmentof the People’s Republic ofBangladeshinauguratednewlyrenovated ICMABCouncilflooron31stOctober2018.


Newly Renovated ICMAB Council Room



Relocation of Education Department For convenient and easy access of the admission seeking students and as per suggestion ofInfrastructure committee of the Institute, the education department of the Institute is relocatedfrom5thfloortogroundfloor.Nowallthestudentscanenjoyonestopfacilityandgettheirrequiredinformation regarding admission and other relevant services from here without coming up stairswhichismoreusefulaswellassuitableforthem.Thewell-designedfurnitureofthisdepartmentnowhasamodernstandardwitheasyinteractivedesksgivesuitableenvironmentforall.

Relocation of ICT department

For smooth and easy official functioning the ICT department has been relocated from 1st floor toAdministrativefloor(5thfloor).InstantsupportforanyITrelatedissuesisoneofthekeyforsmoothservicewhichisnowhavebeenrenderingforthisrelocation.ThedepartmentisnowwellfurnishedwithcubicshapemoderndeskfacilityforitsemployeewheretheycaneasilyhandletheITrelatedissues.

A modern Training Center InstitutehasbuiltanexcellentTrainingCenteratitsAnnexBhaban.Thetrainingcentercanfacilitatemorethan120traineesatatimeforanyprofessionaltraining.Thesoundprooffacilitiesgivethecenteracontrollingenvironmentforsmoothtrainings.HavingalltherequiredITfacility,thecentercanbe



used in multipurposeway like press conference, general meetings, small programs, get together,anykindofforumetc.Thefullyairconditionedplacewithmodernfreshroomfacilityisanexcellent

one which gives the Institute a new dimension for holding or arranging any professional traininginacorporatemode.2overheadprojectorsenableeasycontact fromanysideof the roomwhichaddedextravalueforthetrainees.Mr.ShubhashishBose,SeniorSecretary,MinistryofCommerce,GovernmentofthePeople’sRepublicofBangladeshinauguratedtheICMABTrainingCenteron21thSeptember2018

Entrance Corridor’s Interior Decoration TheentrycorridorofICMABhabanisnewlydesignedwithelegantwoodenfabrication.ThecorridorisnowwelcomingallwithitscorporateappearancewhichenhancesthesignificanceoffirstlookofaprofessionalInstitute.Thebeautificationofthecorridorcontrastingwithceiling,sidewallandgroundhaveaperfectcombinationkeeping“Informationcenter”atleft,“Admission”andICTLabatrightside.

Students CanteenInstitutebuiltacanteenespeciallyfor itsstudents.Therewasaheavydemandof ICMABstudentsfor providing them a canteen facilitywhere they can enjoy their daily meals.Taking the matter inconsiderationInstitutedecidedtobuildamoderncanteenforthestudents.Inthisconnectionsomespaceatbackyardwhichhavebeenabandonedandunusedsolongandnowhavebeenredecoratedwith2floorsforcanteenpurpose.Around50studentscouldenjoytheirdailymealsherewithothercanteenfacilities.

Newly Constructed ICMAB Training Center


Finalization of Conversion Module of ICMAB ERP Solution SystemTheInstitutewiththeassistanceofICTsolutiondevelopedanddeliveredConversionprocedurewhichhasbeenimplementedfortheInstituteandnowitisrunninginfullswing.ConversionprocedurefromoldsyllabustonewsyllabusstartedfromOctober9,2018andwillcontinueuptoNovember8,2018.ThestudentsunderOldSyllabusmayliketoconvertfromoldsyllabustonewsyllabusnow,asperscheduleprescribedbytheInstitute.

ICT and Infrastructure

ICMAB Digital Training Lab

It is observed by the International Research Firm, Donor studies and current year export growthof Bangladesh IT/ITeS sector that. “initiating the export diversification in the field of IT/ITES BPOservicesectorthroughemploymentcreation inthefieldofBusinessProcessOutsourcing (BPO)ofAccounting,FinanceandPayrolltransactionprocessinginonlineFreelanceMarketplaceandLargerInstitutional/company level BPO Service sectorwill help the economic growth. Market IntelligentResearchonIT/ITESBPOsectorcomponentswillprovideinformationtotakestrategicdecisionoftheInternationalBPOmarketpenetrationsuccessfully.Keepingitinconcern,ICMABestablishedaDigitalTrainingcenter.InnearfutureitisexpectedthattheICMABwillbeoneoftheorganizationsinIT/ITESBPOPilotingandresearchactivitiesandcapacitybuildingofthebusinessandaccountingyouthforexportdiversificationinIT/ITESBPOsectorthroughICMAB.



Virtual e-Learning has also been starting at Khulna Branch Theinstitutehasbeenprovidingeducationandtrainingtoitsstudentsthrough06educationcentersinthecountry,namelyDhaka,Chittagong,Comilla,Khulna,RajshahiandJashore.Inordertoensurehighqualityeducation inall thecoachingcentersadigitizationprocesscalledVirtualE- learninghasbeeninitiatedbyICMAB.Thiswillplayavitalroleinitseducationsystem.Initiallytheestimatedprojectcostistaka15,00,000/-(Fifteenlaconly)whichhasgrantedbytheMinistryofInformationandCommunicationTechnologyforimplementingthis(LearningManagementSystem(LMS)project.

1. Live telecast of special class on Mobile The Institute started to broadcast real time online video broadcasting of special classes from

DhakatoChittagongandKhulnabranch.Anyonecanattendspecialclasseswithoutattendingtheclassphysicallybyretrievingitonmobile.UnderthedirectsupervisionoftheICTCommitteeoftheInstitutethesespeciale-learningmethodhasbeenestablishedwiththeassistanceofDarcoTechnologiesLtd.Thefunctionofthesoftwarecanbeusedonlaptopalso.

2. Increase ICMAB bandwidth 18 MBPS to 27 MBPS: ICMABbandwidthhasbeenupgradedfrom15Mbpsto27Mbps.Nowbrowsingspeedissmooth

forthisupgradation.

3. Different IT training for the employees of ICMAB : TheemployeesoftheInstitutehavetakendifferentITtrainingsconductedbydifferentGovernments

Ministries.Allthesetrainingsaretimedemandingandbytakingthesetrainings,employeesoftheInstituteupdatedthemselveswithmodernanddigitizationsystemsoftheGovernment.Thedetailsofthesetrainingsareatbelow:

Training Name Organized By Duration Date

ICMABforattendingAPATraining CabinetDivision 1Day October11,2018

CertifiedEthicalHacker Basis(BITM) 1Month 12July2018

SecurityofFinancialTransactionLegalvalidity

ICTMinistry 1Days 30thOctober2017

4. Online Result published: TheInstitutePublishedResultsofCMAJune-2018ExaminationthroughOnline..Allstudentsofthe

InstitutecanfindtheirresultfromstudentmodulethroughenteringtheirrespectivestudentprofilethroughICMABERPsystem.



PARTNERING WITH ENTREPRENEURS AND EMPLOYERS

Chairman, RAJUKA delegation of the Institute of Cost and ManagementAccountants of Bangladesh (ICMAB) headed by itsPresident Mr. Mohammed Salim FCMA called on Mr. Md.AbdurRahman,Chairman,RajdhaniUnnayanKartripakkha(RAJUK)athisofficeonApril19,2018.

ICMAB President updated the honorable Chairman aboutthe overall affairs of the Institute and particularly aboutthedevelopmentissuesofCMAprofession.HealsosoughthelpoftheChairmanforfurtherdevelopmentofICMABandtheChairmanassuredhimtoprovidealloutsupportandassistanceto ICMAB.AmongothersPastPresidentMr.M.AbulKalamMazumdarFCMAandDirectorMr.NazmusSalehinwerepresentinthemeeting.

Chairman & Managing Director Uttara Group of CompaniesAdelegationofICMABledbyitsPresidentMr.MohammedSalimFCMAmetMr.MatiurRahman,Chairman&ManagingDirector, Uttara Group of Companies on April 04, 2018 toexchangeviews,updateabouttheprofessionanddiscussmattersofmutualinterests.

ICMAB president thanked the Chairman & ManagingDirectorforgivinghisvaluabletimeandbriefedhimabouttheroleofCMAprofessionalsintrade,business,industry&servicesectors.

Mr.Md.AkhtaruzzamanFCMA,Mr.Md.MushfiqurRahmanFCMA,Mr.MohammadAlamgirFCMAandExecutiveDirectoroftheInstituteMr.Md.MahbubUlAlamFCMAwerepresentinthemeeting.

Managing Director & CEO of Robi Axiata Ltd.ICMABdelegatesheadedbyitsPresidentMr.MohammedSalimFCMAcalledonMr.MahtabUddinAhmed,ManagingDirector&CEO,RobiAxiataLtd.atitsCorporateOffice,Gulshan,DhakaonJune24,2018anddiscussedon various issuesrelated to CMAprofession. RobigavetheassurancetoICMABtoextendtheir support forthe digitizationactivitiesof ICMAB.Among others, Mr.Md.AbdurRahmanKhanFCMA,SecretaryofICMAB,Mr.MahbubUlAlamFCMA,ExucutiveDirectoroftheInsituteandMr.KausarAlamFCMAwerepresentontheoccassion.


PARTNERING WITH ENTREPRENEURS AND EMPLOYERS

Courtesy call on with Managing Director, Agrani BankPresidentMr.MohammedSalimFCMAhadacourtesycallwithMr.MohammadShamsUL Islam, Managing Director of AgraniBank at his office on September 13, 2018.ExecutiveDirectorMr.Md.MahbubUlAlamFCMAandMr.Md.MonowarHossainFCMAwerewithhim.

Meeting with DBL GroupICMABdelegationledbyitsPresidentMr.MohammadSalim FCMA had a very cordial meeting with DBLGroup.Mr.AbdulWahed,Chairman,MrM.AJabbar,Managing Director, Mr. Mohammed Abdul QuaderAnu,DeputyManagingDirectorandMr.Md.IshaqueFCMA, Adviser of DBL Group were present in themeeting.PastPresidentMr.MAbulKalamMazumdarFCMAwasalsopresentinthemeeting.

The Institute made agreement for getting medical service for ICMAB Members & Employees The Institute signed a Memorandum ofUnderstanding (MoU) on July 16, 2018with Central Hospital limited, (one of theleadingandrenownedhospitalandhealthcare organization in the country) to getvarious medical services for its members& Employees. Mr. Md. Mahbub Ul AlamFCMA, Executive Director, ICMAB and Dr.M.A. Quasem, Director, Central HospitalLimitedsigntheagreementinfavorofeachorganizationrespectively.Representativesfrom both the organizations also remainpresentaswitnesses.Mr.MohammedSalimFCMA,President ICMABremainedpresentattheMoUsigningceremony.EmployeesofICMABwillgetdifferenthealthcareservicesonadiscountratefromCentralHospitalLimited.Aglimpseofofferedservicesareasfollows:

a)25%discountonallkindsofpathologicalinvestigation.

b)10%discountonRadiology&Imaging.

c)20%discountonhistopathology.

d)10%discountonHospitalbedrent.Etc.Membersareadvisedtoshowtheir IDCard/MembershipnumbertotheHospitalauthoritywhiletakingtheserviceoratthetimeofmakepayment/bill.


COST AUDIT AND PROFESSIONAL SERVICE ACTIVITIES

ICMAB delegation’s visit to Chairman, BCICAdelegationofICMABheadedbyitsPresidentMr.MohammedSalimFCMAcalledonMr.ShahMd.AminulHaq,Chairman,BangladeshChemical IndustriesCorporation (BCIC)athisofficeonMay27,2018.

TheICMABPresidentapprisedtheChairman,abouttheroleofCostandManagementAccountantsinenterprisemanagement,costcontrolandperformanceevaluationofbusinessandindustrialsectors.Besidesthediscussiononthemattersofmutualprofessionalinterest,PresidentICMABalsoexplainedhowthetradeandindustriessectorofthecountrycouldbebenefitedthroughCostandPerformanceAudit.HealsourgedupontheneedforimplementingCostAuditindifferentfertilizerfactoriesunderBCIC,inaccordancewiththedecisionofthegovernmentpublishedthroughGazettenotification.

TheBCICChairmangaveassurancefor implementingCostAuditgraduallyoneaftertheother.Heassuredtofindouttheareasofco-operationbetweenBCICandICMAB.HealsosoughtsupportofICMABtomakeitssickindustriesprofitable.

Among others Past President Mr. M. Abul Kalam Mazumdar FCMA and Executive Director Mr. Md.MahbubUlAlamFCMAoftheinstitutewerepresentontheoccasion.

ICMAB delegation visited Industry SecretaryA delegation of ICMAB headed by its President Mr.Mohammed Salim FCMA called on Mr. MuhammadAbdullah,Secretary,MinistryofIndustriesathisofficeonApril25,2018.TheICMABPresidentapprisedtheSecretary about the importance of Cost Audit inthe fertilizer factories of BCIC in accordance withthe decision of the government published throughGazettenotificationandrequestedtoimplementcostauditinallthefertiliserfactories.Thedelegationalsoexplained how the industries sector of the countrycould be benefited through Cost and PerformanceAudit.



New Cost Accounting StandardsThe CostAccounting and Financial Reporting Standards committee of the Institute has issued 23BangladeshCostAccountingStandards(BCAS)inprevioustwovolumes.Thecommittee,hastakenupprogramstodevelopandadopteightmorestandards.Eightmembershavevolunteeredtodraftthefollowingstandards:

a.CaptiveCosting byMr.M.A.Matin(F-0057)b.MaterialCost byMr.MuhammadZahirulIslam(F-0821)c.EmployeeCost byMr.SandipHalder(A-1136)d.ServiceCosting byMr.ZillurRahman(F-0749)e.QualityCosting byMr.MuhammudShakyetHossain(A-1321)f.Constructioncosting byMr.MahbubulBari(F-0456)g.Capacity/Determinationcost byMr.Md.HumayanKabir(A-1348)&h.Utilitycosting byMr.Md.HemeatulIslam(F-0344)

Outoftheabove,draftingofsevenhasbeencompletedandallofthemwouldbepublishedshortlyafterdueprocessing.

Two-day Training on Cost Audit for the Practicing Members TheCostAuditandProfessionalServiceCommittee(CAPSC)hasarrangedfortwo-dayTrainingonCostAuditwasheldon21stSeptember,2018atICMABRuhulQuddusAuditorium,Dhaka.HonourableSecretary, Ministry of Commerce, Government of Peoples’ Republic of Bangladesh has graciouslyinauguratedthetrainingprogramasChiefGuest.

TworenownedIndianpractitionersCMAA.N.RamanandCMAManojKulshresthaweretheresourcepersonsintheaboveprogram.ApartfrommembersoftheInstitute,financeheadsfromsomelistedcompanieswhereinthecostaudithasbeenmademandatoryhasalsojoinedtheprogram.



Seminar on Strategies and Preparedness for Implementation of Cost AuditTheInstituteheldaseminaron“ImplementationofCostAudit-StrategiesandChallenges”atICMABBhavan,Nilkhet,Dhaka.Mr.ShubhashishBose,SeniorSecretary,MinistryofCommerce,GovernmentofthePeople’sRepublicofBangladeshinauguratedtheprogramasChiefGuest.CMAA.N.Raman,PastPresident,SouthAsianFederationofAccountants(SAFA)andworldrenownedCMAprofessionalpresentedtheSeminarPaper.Mr.MohammedSalimFCMA,PresidentoftheInstitutepresidedovertheProgram.

Mr.M.AbulKalamMazumdarFCMA,ChairmanoftheCostAuditandProfessionalServiceCommitteeand former President of the Institute in hiswelcome address explained the benefits that differentstake holders such as: management, shareholders, consumers and Government can reap throughtheCostAudit.HealsomentionedthatCostAuditisverymuchessentialforcompetitivenessofgovt.andprivatesectormanufacturingindustries.Hereiteratedthatacountry’scompetitivenessisfullydependentonindividualcompetitivenessofthecorporatesectors.

Healsomentionedtheimportanceofcostaccountingstandardsthathelpsprovideguidancetotheusersofcoststatements,regulators,government,researchersandacademiciansforthepurposeofuniformityandconsistencyinclassification,measurementandassignmentofcosts.

TheSeniorSecretaryinhisspeech,citingfewexamplesfromhisexperience,hasmentionedthatinthisworld ofWTO, the Government have to fight for anti-dumping and countervailing duties, FTAnegotiationsandothersimilarpurposes. Inallsuchcasesthere isacryingneedforauthenticatedcertificateonmanufacturingcostofproductsandserviceswhichCMAsarecompetenttodo.Healsomentionedthatunlesscostauditiswidelyusedtheindustriescannotbecomecompetitiveandiftheindustriesarenotcompetitivethecountrycannotbecompetitiveglobally.

Mr.Md.AbdurRahmanKhanSecretaryoftheInstituteofferedthevoteofthanks.AgoodnumberofmembersandStudentsoftheInstituteattendedandparticipatedintheseminar.


RESEARCH AND PUBLICATION

1. Joint Research with Centre for Public Sector Governance, Accountability and Performance, La Trobe Business School, La Trobe University, AustraliaFor the first time, ICMAB has entered into a collaborative research initiativewith Centre for PublicSectorGovernance,AccountabilityandPerformance,LaTrobeBusinessSchool,LaTrobeUniversity,Australia.The ICMAB and the Center of LaTrobe University have jointly commissioned are searchprojectunderthethemeNewPublicManagement(NPM)DevelopmentsinBangladesh:ImplicationsforAccountingPractices.TheResearchandDevelopmentCommitteehasapprovedtheproject.

ProfessorZahirulHoque,PhD(Manchester),FCPA,FCMADirector,CentreforPublicSectorGovernance,AccountabilityandPerformance;LaTrobeUniversity,Australiahasalreadystartedconductingtheresearch work as the Chief Investigator. Dr. Nikhil Chandra Shil FCMA has been working with himas theAssociate Investigator (ICMAB nominee). Letters had been issued in different public sectororganizationsforinterview.AlreadyseveralinterviewshavebeentakenindifferentorganizationslikePWD,SugarandFoodIndustriesCorporation,BCICetc.AFocusGroupDiscussion(FGD)alsoheldatICMABonOctober23,2018aspartoftheresearchwork.

Research and DevelopmentAs a national body, the Institute recognizes the importance of undertaking research in relevant economic and business areas and steps have been taken to accelerate research activities of the Institute.

Focus Group Discussion (FGD) held at ICMABICMAB and La TrobeUniversity, Australiahave jointly launcheda research projecttitled ‘New PublicManagement (NPM)D e v e l o p m e n t sin Bangladesh:Implications forAccountingPractices’.Inthis connection, ICMABorganized a FocusGroupDiscussion (FGD)on October 23, 2018 atICMA Bhaban, Dhaka.TheFGDwasorganizedto disseminate theresearchobjectivesandmethodologytokeystakeholders.AgroupofprofessionalsfromdifferentMinistries and public sector organizations were present in the discussion. Mr. MohammedSalimFCMA,PresidentofICMAB,Mr.M.AbulKalamMazumdarFCMA,VicePresidentofICMAB,Mr. Md.Abdur Rahman Khan FCMA, Secretary ICMAB and Mr.JamalAhmed Choudhury FCMA,PastPresidentandCouncilMemberof ICMABwerepresent in theFGD.Mr.NikhilChandraShilFCMA (ICMAB nominee), associate investigator of the research project, began the sessionwith



JournalTHECOST&MANAGEMENT–thebi-monthlyJournalofICMAB,isanofficialorganofICMAB.ThejournalofICMABcarriestheprofessionaltestimonyoftheInstitute.InordertokeeppacewithstandardoftheprofessionalbodieshomeandabroadtheJournalandPublicationCommitteehasbroughtmorechangesinthecontents,designandget-upofthejournalalongwithqualityofprintingtogiveitamoreprofessionallook.FiveissuesoftheInstitute’sbi-monthlyJournal“TheCostandManagement”havebeenpublishedduringtheyearuptoNovember2018.

Printing and Publication

2. Corporate Social Responsibility – Performance & Disclosures and Impact on Social Development: Commercial Banks of BangladeshAnotherresearchworkontheabovecaptionwasstartedinthelastyearbyoneofourFellowMemberDr.AnupKumarSahaFCMA,currentlyAssistantProfessor,DepartmentofAccountingandInformationSystems,DhakaUniversity.Hehascompletedconductingtheresearchworkandfinallysubmittedtheresearchreport.ThereportwasreviewedbyanindependentprofessionalinthisregardMr.TouhidulAlam Khan FCMAwho expressed his satisfaction.The Research and Development Committee hasfinallyapprovedthereportandthereportwillbeformallyreleasedsoon.

a brief introduction of the research project. Professor Dr. Zahirul Hoque FCMA from La TrobeUniversitywhoactsaschiefinvestigatoroftheresearchprojecthasbriefedtheresearchbeforethe audience.The participants have discussed different relevant issues for the researchwhichhelpedtheresearcherstofinalizetheirresearch instruments,objectivesandmethodology.Thediscussioncontinuedfor2hoursandendedwithdinner.TheresearchworkwouldbecompletedwithinDecember2018.


Other PublicationsBesidesJournal, the Printing & Publication section published Member List 2018; Bangladesh CostAccounting Standards – Volume II; brochures for student promotions; two Study Text Materials,SouvenirandotherprogramrelateddocumentsandseveralCPDprogramdocuments.

Organized By

InternationalCFO Conference

SAFADecember 08, 2018 Hotel Intercontinental , Dhaka

The Future of Finance: Digitize, Drive and Transform

Benefit to the Management,Industry, Shareholders, Consumers,Economy and Government

COST AUDIT



ROLE IN NATIONAL ECONOMIC ISSUES

Budget Proposals to NBRAteamfromICMABledbythePresidentattendedameetingwiththeNBRontheeveofnationalbudget2018-19.Mr.MosharrafHossainBhuiyanNDC,SeniorSecretary,IRDandChairman,NBRpresidedoverthemeeting.Mr.MohammedSalimFCMA,PresidentoftheInstituteandMr.MahbubUlAlamFCMA,ExecutiveDirectorweretheothermembersoftheICMABdelegation.ThepresidentoftheInstitutespokeinthemeetinghighlightedsomeoftheICMAB’sbudgetproposalsearliersubmittedtoNBRinwriting.ChairmanNBR inreplyappreciatedthecontributionmadeby ICMAB innationalbudgetpreparationandthankedfortheproposalssubmittedbyICMAB.

Post-Budget Discussion on National Budget 2018-2019 ICMABorganizedaPost-BudgetDiscussionSessiononNationalBudget 2018-2019 on Monday, 25 June 2018 at ICMA Bhaban,Dhaka. Engineer Mosharraf Hossain MP, Honorable Minister,MinistryofHousing&PublicWorks,GovernmentofthePeople’sRepublic of Bangladesh attended the Session as Chief GuestwhileMr.C.Q.K.MustaqAhmed,Chairman,FinancialReportingCouncil(FRC)wasPresentasSpecialGuest.PresidentofICMABMr. Mohammed Salim FCMA presided over the Program. Mr.Ranjan Kumar Bhowmik FCMA, Commissioner of Taxes, TaxesZone-7,DhakaandMr.Md.AbdurRahmanKhanFCMA,DeputySecretary, Finance Division, Ministry of Finance presented thepaperasResourcePersons.Mr.KananKumarRoy,Member(Tax

Policy), National Board of Revenue (NBR), Mr. Khondkar Ibrahim Khaled, Former Deputy Governor,BangladeshBank,Dr.JamaluddinAhmedFCA,Member,BoardofDirectors,BangladeshBank&PastPresident, ICAB, Dr.Ahsan H. Mansur, Executive Director, Policy Research Institute, Dr. MohammedHelalUddin,AssociateProfessor,DepartmentofEconomics,UniversityofDhakaspokeontheoccasionasCommentatorsonthepaper.

PastPresident,ICMABandCEO&ManagingDirector,IDLCFinanceLtd.Mr.ArifKhanFCMAwaspresentas Moderator at the program. Mr. Md. Kausar Alam FCMA, Vice-Chairman, Seminar & ConferenceCommitteedeliveredthewelcomespeechattheprogram.Theministersaidthatthepeoplewanttopaytaxes,butduetooursystemlosstaxesarenotbeingcollectedaccordingly.Ifthetaxwasproperlycollectedthenthenationalbudgetwouldhavebeenmuchlarger.Hesuggestedtousetheelectroniccashregistrationmachineforthis.Hesaid,usingtheelectroniccashregistrationmachine,thecorrectamountofrevenuewouldbecollectedtothegovernmentserver.Sothesourceamountofbudgetwillincrease.TheministergaveassurancetotheICMABforgivingallocationoflandatPurbachalNewTownforthenewcampusofICMAB.AgoodnumberofprofessionalCMAstookpartinthequestion&answersessionwhichmadetheprogramverylively.



Implementation of SDGs – Recommendation by the experts atICMAB’s International Conference on SDGsExpertsatadaylongICMABInternationalConference on ‘Achieving SustainableDevelopment Goals: Challenges andWayForward’laidemphasisontheuseofInformationTechnology(IT)forthebetterimplementation of various programmesrelated to the SDGs. They also said theuseof IT inSDGsrelateddatacollection,recording, preservation, analysis andreportingisessentialtobringtransparency,accountabilityandefficiency.TheInstituteof Cost and Management Accountantsof Bangladesh (ICMAB) organizedthe international event at Pan PacificSonargaonHotelonSeptember23,2018.

Mr.AbulMaalA.Muhith,MP,HonorableMinister,MinistryofFinance,GOBwaspresenttheconferenceas Chief Guest while Ms. Mia Seppo, UN Resident Coordinator and UNDP Resident Representative

inBangladeshasGuestofHonour inthe inauguralsession.Mr.PietroBertazzi,HeadofSustainableDevelopment,GlobalReportingInitiative(GRI),NetherlandwaspresentaKeynotespeech.

Morethan400participantsfromdifferentstakeholdergroupsparticipate intheconference. ICMABpresidentMr.MohammedSalimFCMApresidedovertheConference.



Mr. Ashadul Islam, Secretary, Financial InstitutionsDivision, Mr. Abdur Rouf Talukder, Secretary in Charge,Finance Division, Ministry of Finance, Government of thePeople’s Republicof Bangladesh waspresenttheConferenceasSpecialGuestsintheValedictorysession.

ICMAB president Mr.Mohammed SalimFCMA expressed thatdue to the targetsas devised in SDGscorporate reportingsystemwillbechangedsignificantly which willbring dramatic changein the corporate life of accountants. Sustainability reporting and integrated reporting has alreadycaptured the place of mainstream reporting. Environmental concerns receive additional attentionandthegovernancesystemisgettingrevisited.SDGsalsobringrevisionsinwomenempowerment,social justice, quality education, equity alongwith other dimensions to change the planet livableforall.Theseissuesneedtobediscussedtobringawareness.ICMABiskeentoworktogetherwithall stakeholders for achieving SDGs in the coming days.ThisJourneywill continue until achieving


the goals. The recommendations of the conference willcommunicatewithGovernmentandmajorstakeholdersfortakingnecessaryactiononSDGs.

Eminent & Expert Session Chairmen, Moderator, Resource Persons & Panelists are as follows: The sessions:Session1:RoleofProfessionalAccountantsin Achieving SDGs; Session 2: Changing CorporateReporting Landscape; Session 3: Development Partners’Role inAchievingSDGs;Session4:Women’sParticipationin Achieving SDGs; Session 5: Economic Preparednessin Achieving SDGs and Session 6: Role of IT and QualityEducationinAchievingSDGs.

Session Chairmen are: Mr. Ashadul Islam, Secretary,Financial Institutions Division, Ministry of Finance,Government of Bangladesh; Ms. Rokia Afzal Rahman,President,BangladeshFederationofWomenEntrepreneurand Dr. Mohammed Farashuddin, Chairperson, Board ofTrusteesofEastWestUniversity.

Moderators:Mr.PietroBertazzi,HeadofSustainableDevelopment,GlobalReportingInitiative(GRI),Netherland;Mr.MuzaffarAhmedFCMA,PastPresidentandPresidentandChairmanCredit,RatingInformationandServicesLimited;Mr.MamunRashid,ManagingPartner,PricewaterhouseCoopers(PwC)Bangladesh;




Dr. Aditi Haldar, Director, Global Reporting Initiative (GRI)SouthAsia;Mr.ArifKhanFCMA,PastPresident,ICMABand,CEO&ManagingDirector,IDLCFinanceLtd.andMr.MahtabUddinAhmedFCMA,ManagingDirector&CEO,RobiAxiataLimited.

Resource Persons:CMAA.N.Raman,PastPresident,SouthAsianFederationof Accountants (SAFA); CMA Amit Apte, President, TheInstituteofCostAccountantsofIndia(ICAI);Mr.MerrinnageRuchira Asanka Perera, Council Member, The Institute ofCertified ManagementAccountants of Sri Lanka; Dr.AditiHaldar, Director, Global Reporting Initiative (GRI) SouthAsia; Mr.Arif Khan FCMA Past President, ICMAB and CEO& Managing Director, IDLC Finance Ltd.; Ms. VrushaliNandkumar Gaud, India, Advisor, International IntegratedReporting Council (IIRC); Mr. Sudipto Mukerjee CountryDirector, UNDP, Bangladesh; Mr. Towfiqul Islam Khan,SeniorResearchFellow,CenterforPolicyDialogue(CPD);Ms.AviaNahreen,SeniorResearchFellow,theInstituteofPolicy,Advocacy,andGovernance(IPAG);Prof.Dr.RumanaHuque, Department of Economics, University of Dhaka;Ms.AkhtarSanjidaKasemFCMA,FCA,Partner,A.Qasem&Co., Chartered Accountants; Dr. Debapriya Bhattacharya,Distinguished Fellow, Center for Policy Dialogue (CPD);Prof. Dr. Hamidul Huq, United International University(UIU);Mr.EjazurRahman,ManagingDirector,MindMapperBangladesh;Prof.A.K.M.ZahirulHoqueFCMA,Departmentof Accounting and Data Analytics La Trobe University,AustraliaandMr.NurulKabir,SecretaryGeneral,AssociationofMobileTelecomOperationofBangladesh(AMTOB)andFormerSr.VicePresident,DCCI&BASIS.


Panelist:Prof.Dr.SwapanKumarBalaFCMA,Commissioner,BangladeshSecurities&ExchangeCommission;Mr. Md. Mamunur Rashid FCMA, Deputy Managing Director, Index Group of Companies; Mr. Md.Touhidul Alam Khan FCMA, DeputyManaging Director & Chief BusinessOfficer, Prime Bank Limited; Mr.Md. Reazul Karim FCMA, ManagingDirectorandCEO,ThePremierBankLimited;Dr.JamalUddinAdmedFCA,Chairman, Emerging Credit RatingLtd.;Mr.MDavidDoolan,DeputyFAORepresentative;Mr.ShawkatHossainFCMA, Managing Director & CEO,BD Venture Limited; Ms. ParveenMahmud FCA, Managing Director,Grameen Telecom Trust, Ms. RupaliChowdhury, Managing Director,Berger Paints Bangladesh Ltd.; Ms.Zinnia Tanzina Huq FCMA, FinanceDirector & Company Secretary,Glaxo SmithKline Bangladesh Ltd.; Ms. Farzana Chowdhury, Managing Director & CEO, Green DeltaInsuranceCompanyLtd.;Mr.Md.AminulIslamKhan,AdditionalSecretary,LocalGovernmentDivision(LGD), Government of Bangladesh; Dr. Salim Uddin FCMA, FCA, Professor ofAccounting, UniversityofChittagongandChairman,HouseBuildingFinanceCorporation;Prof.Dr.MahmoodOsman ImamFCMA,Professor&FormerChairman,DepartmentofFinance,UniversityofDhakaandProfessorDr.ChowdhuryMofizurRahman,ViceChancellor,UnitedInternationalUniversity.

ExpertsfromvarioussectorstakingpartinsixtechnicalsessionsidentifiedvariouschallengestoSDGsimplementationandpresentedrecommendationstothem.AbdulMatinPatwaryFCMApresentedmajorRecommendationsattheValedictorysessionoftheconference.Thekeyrecommendationsareasfollows:




• Reviewthecurrenthighereducation(HE)policiesandstrategiestoassesswhethertheyarealignedtoUN’sSDGs(Goal4QualityEducation).

• DevelopingastrategicqualityassessmentframeworkforacademicswhichcouldhelpachievekeySDGsforqualityeducation.

• EstablishaseparateindependentstatutorybodyforresearchandscholarshipforHEsectorHiringindustryexecutivesandprofessionalaccountantsonacasualbasistoteachprofessionalcourses.

• Moreinvestmentsinagriculture,includinggovernmentspendingandaid,areneededtoincreasecapacity for agricultural productivity. Reducing inequality within and among countries needconcertedeffortofUN,countries,government,developmentpartners.

• Ensure sustainable consumption and production patterns and take urgent action to combatclimatechangeanditsimpactsBusinessReporthastocomplementtheGRIStandardstofacilitatemeasuringandreportingontheimplementationprogressofSDGs.

• LeveragetheGRIStandards–theworld’smostwidelyusedsustainabilityreportingstandards–andtheTenPrinciplesoftheUNGlobalCompacttohelpbusinessesincorporateSDGreportingintotheirexistingprocesses.

• EncourageuseoffivestepapproachrecentpublicationbyIIRCandICAStowardsaligningbusinessthinkingandreportingwiththeSDGs.

• FocusonthethreeSDGsreportingtools(BusinessReportingontheSDGs:AnAnalysisoftheGoalsandTargets,IntegratingtheSDGsintoCorporateReporting:APracticalGuide,InFocus:AddressingInvestorNeedsinBusinessReportingontheSDGs)createdbytheactionplatformofGRI.

• Accountants can save theworld through the road map of Sustainability to Business Resilience.TheyhavetofocusonIntegratedThinking(dependenciesandImpact).Accountantshavetolinksustainabilitytothemainstreambusinessagendatoensuresuccessinourinitiative.

• Ensurewomen’sfullandeffectiveparticipationandequalopportunitiesforleadershipatalllevelsofdecision-makinginpolitical,economicandpubliclife.

Mr.Md.AbdurRahmanKhanFCMA,SecretaryoftheInstitutedeliveredthewelcomespeechwhileMr.Md.AsadChowdhuryFCMA,CoordinatorofConferenceofferedvoteofthanksintheValedictorysession.


CMA BRANDING

ICMAB BEST CORPORATE AWARD-2016

TheInstituteofCostandManagementAccountants of Bangladesh (ICMAB)organized a grand gala program atPanPacificSonargaonHotelinthecityon January 28, 2018 for distributionof awards among 27 enterprisescovering different sectors includingbanks, non-banking financialinstitutions, General insurance,Manufacturing, power Generationand Miscellaneous categories.in recognition of the culture ofcorporategovernance.

FinanceMinisterAbulMaalA.Muhith,MPdistributedtheICMABBestCorporateAward-2016attheceremony as Chief Guest. Professor Dr. M. Khairul Hossain, Chairman, Bangladesh Securities andExchangeCommissionandMr.C.Q.K.MustaqAhmed,Chairman,FinancialReportingCouncil(FRC)werepresentastheSpecialGuests.

President of ICMAB Mr. Jamal Ahmed Choudhury FCMA delivered the welcome address whileChairmanofCorporateAwardandBrandingCommitteeMr.MohammadAliNawazFCMAandMr.Md.AbdurRahmanKhanFCMA,SecretaryofICMABdeliveredthevoteofthanksontheoccasion.

ChiefGuestoftheprogram,Mr.AbulMaalAbdulMuhithM.P,honorableFinanceMinisterhandedoveraCresttothePastPresidentoftheInstituteMr.MuzaffarAhmedFCMA(F-0038)inrecognitionofhisinvaluablecontributioninintroducingandorganizingthisawardsinceinceptionin2007.


MEDIA COVERAGE

VIBRANT MEDIA PRESENCEICMABhadawideandvibrantcoverageinprintandelectronicandonlinemediathroughouttheyeartoreachthewidersocietyofthecountry.ThemediawellcoveredvariousactivitiesoftheInstituteincludinginternationalconference,paneldiscussionsincludingmegaeventonSDGs,otherseminars,workshopsetc.Apartfromthis,ourprofessionalsincludingthecouncilmembershadtheirpresencein print and electronic media at different capacities. They occasionally appeared in TV and radiochannels and print media as Financial and Capital Market Specialists, Corporate Icons, Businessleadersetc.Someofthemalsoregularlycontributedarticlesandcolumnsoncontemporaryissuesof business and finance in leading national dailies. Suchvibrant presence of the Institute and themembersinmediahelpedbuildinggreaterbrandvaluefortheprofession.


MEDIA COVERAGE


WE LOST

With profound sorrow we report that we lost our following Members during 2018

Md.MizanoorRahmanFCMA(F-0419)passedawayduetoheartfailureonJanuary7,2018at4:00a.m.at

BangabandhuSheikhMujibMedicalUniversityHospital.Hewas55.

Md.NoorIslamACMA(A-0507)passedawayduetoheartfailureonMarch19,2018at8:00a.m.at

NationalHeartFoundation,Mirpur,Dhaka.Hewas61.

Md.AbdulBasedMondalFCMA(F-0450)passedawayduetoheart

failureonMarch9,2018at3:00a.m.athisresidence,MirpurDhaka.He

was69.

AzizurRahmanFCMA(F-0293)passedaway(InnaLillahiwainna

ilayhiraji’un)onMay15,2018at11:00a.m.atAnwarKhanMordern

Hospital,Dhaka.Hewas60.

MohammadAlamgirFCMA(F-0499)passedawayduetobrainstrokeonOctober

17,2018.Hewas47.

They were committed professionals, loved and

respected by their friends and fellows. On behalf of the Institute we express

condolence to the bereaved members of their families

and pray to the Almighty for the salvation of departed

souls. May Allah rest them in eternal peace.


MEMBER’ UPDATE

Dr Md Salim Uddin FCA, FCMA appointed as Chairman of Bangladesh House Building Finance Corporation by the Government of Bangladesh

and

Appointed as Chairman of Islami Bank Bangladesh Limited-IBBLDr.Md.SalimUddin,FCMA,FCA,MBAa fellowhasbeenre-appointedas Director of Rupali Bank Ltd for second term by the Government ofBangladesh.Dr,SalimistheProfessoroftheDepartmentofAccounting,UniversityofChittagong,Bangladesh.HewasanIndependentDirectorofTheChittagongStockExchange-CSEappointedbytheGovernment.HewasalsoanIndependentDirectorofPremierBankLtdandDirectorofRupali InvestmentLtd.Lastly,hewasaDirectorofRupaliBankLtd-a nationalized commercial bank appointed by the Government. Hehas widely travelled in USA, UK, Japan, France, Germany, Belgium,Netherlands,Luxembourg,Turkey,SaudiArabia,UAE,Singapore,HongKong,China,Malaysia,Thailand,India,Nepal.

Mr. M. Reazul Karim FCMA promoted as the Managing Director & CEO of The Premier Bank Ltd

Insightful banker and a dynamic leader, M. Reazul Karim, carries withhim a deep financial services knowledge including Corporate Sector,Governanceaswellasregulatoryandpublicpolicyexperiencegainedfrom senior positions in awide range of financial fronts. His extensiveknowledge of financial markets, treasury, risk management and hisqualificationasFCMAtookhimat thepinnacleofcareerachievementas he took the helm ofThe Premier Bank Limited on 23rdApril 2018as the Managing Director & CEO. Mr. Karim started his career as aManagement Trainee with National Bank in 1984. The following yearssaw the continuous rise of his banking genius. During vast versatilebankingcareer,hehasdisseminatedhisbankingexcellenceinNationalBankLimited(1984-1995),PrimeBankLimited(1995-2012).HejoinedThe

PremierBankLimitedastheAdditionalManagingDirectorin2013,thereafterservingforfiveyears,hehasbeenentrustedthepositionoftheManagingDirector&CEO(In-charge)oftheBankinFebruary2018.Mr.MReazulKarimhasachievedmanyalaurelforhisoutstandingroleforbankingdevelopmentinthecountry.


MEMBER’ UPDATE

Mr. Mohammad Nazrul Islam, FCMA, FCA qualified and enrolled as a CIMA Associate Member and a Chartered Global Management Accountant (CGMA)Mr.MohammadNazrulIslam,FCMA(EnrollmentNo.F-710)hasrecentlyobtained the Chartered Management Accountant (CMA) degree ofthe Chartered Institute of Management Accountants (CIMA) of UnitedKingdomandCharteredGlobalManagementAccountant(CGMA)oftheAssociationofInternationalCertifiedProfessionalAccountants(AICPA).HesatfortheGatewayexaminMay2014andsecuredtopscoreunderManagementAccountantGatewayExaminBangladesh.HequalifiedtheStrategicCaseStudyexaminNovember2017andadmittedasAssociateMemberofCIMAandCGMAinApril2018.HeisaFellowmemberoftheInstituteofCostandManagementAccountantsofBangladesh(ICMAB)and a Fellow member of the Institute of Chartered Accountants ofBangladesh(ICAB).Atpresent,heisworkingastheCorporateFinancialControllerofRahimafrooz(Bangladesh)Limited.

Mr. Md. Mashudur Rahman FCMA Won the Silver MedalMr. Md. Mahsudur Rahman FCMA, FCA participatedin the International Natural Bodybuilding & FitnessChampionship which held on 4th August 2018in Singapore. He achieved the Silver Medal (1stRunnerup) inMastersCategory. EarlierMr.Mahsudparticipated International competition held inSrilanka,JapanandChina.HeobtainedBronzeMedalintheAsianBodybuildingChampionshipinJapan.Hewas awarded Mr. Bangladesh in three consecutiveyears including Gold Medal the Bangladesh games.AtpresentMr.MahsudisservingasChiefCompliance&AuditOfficerwithRahimafroozGroup.He isactiveinsports


MEMBERS’ WELFARE

Support from Member’s Fund for Financial Assistance (MFFA)AnamountofTk.200,000/-hasbeengivenfromthe“Members’FundforFinancialAssistance(MFFA)”topartiallysupportthetreatmentcostofthedaughterofoneofourFellowMemberswhowascriticallyinjuredbyelectificationburning.

Two more children of late Mizanoor Rahman FCMA and late Md.Abdul Based Mondal FCMA havestarted getting monthly scholarship @ Taka 8000 each, from ICMAB Members Fund for FinancialAssistance(MFFA)duringtheyear.Theyarestudyingintheprivateuniversity.ItmaybementionedherethatICMABisgivingscholarshipsto09childrenofourdeceasedmembers@Tk.8,000eachpermonthfromthisfund.DetailfundpositionhasbeenincludedintheAuditedFinancialStatementofICMAB.Duringthisyearanamountoftaka8,48,000hasbeendisbursedfromMFFAagainstreceiptsoftaka4,57,929.SummaryoftransectionsfromMFFAduringtheyearhasbeenshownbelow.

Members Fund for Financial Assistance (MFFA)

Balance as on July 01 1,071,315 401,906

Add: Members compulsory subscription 83,500 1,134,000

Donation from members 300,000 201,800

Transferred from members meeting fee 131,010 114,500

Bank interest (Net) 26,919 5,109

1,612,744 1,857,315

Less: Paid during the year

Deceased members children scholarship 648,000 336,000

Financial assistance to members 200,000 450,000

848,000 786,000

Balance as on June 30 764,744 1,071,315


DBC NewsLearningsessionon“TheFutureofFinanceProfessioninanEraofdigitalTransformation”TheDhakaBranchCouncil(DBC)ofICMABorganizedaLearningsessionon“TheFutureofFinanceProfessioninanEraofdigitalTransformation”forICMABMemberonJanuary08,2018atICMABhaban,Dhaka.Mr.Md.MushfiqurRahmanFCMA,ChairmanofDBCpresidedoverthesession.Mr.ZillurRahmanFCMA,ChairmanofDhakaBranchKnowledgeSharing&StudyCircleCommitteeofferedwelcomeaddressandintroducedtheResourcePerson.Mr.MohammadNizamUddinFCMA,HeadofBusinessFinance,GroupFunctions,EricssonHeadQuarter,SwedenspokeonthesessionastheResourcePerson.DBCTreasurerMr.Md.MumlookHossainFCA, FCMA offered vote of thanks. A good number of members and students were present and activelyparticipatedinthesession.

DBC organized 3-day Workshop on “Excel for valuemapping” for ICMAB Members on January 10, 12 & 14,2018atICMABhaban,Dhaka.Mr.Md.MushfiqurRahmanFCMA, Chairman of DBC presided over the session.Mr. Zillur Rahman FCMA, Chairman of Dhaka BranchKnowledge Sharing & Study Circle Committee offeredwelcome address and introduced the Resource Person.Mr. Mohammad Ataur Rahman ACMA, Head of InternalAudit Envoy Textiles Limited spoke on the session asthe Resource Person. A good number of members andstudents were present and actively participated in thesession.

3-dayWorkshoponMSExcelforvaluemapping

BRANCH AND CHAPTER ACTIVITIES

DBCorganizedaKnowledgeSharingSessiononUPGRADE:ANewThoughtonYouthLeadershipfor ICMABStudentsonJanuary 19, 2018 at ICMAB Ruhul QuddusAuditorium,ICMA Bhaban, Dhaka. Mr. Md. Mushfiqur Rahman FCMA,ChairmanofDBCpresidedoverthesession.

Mr. Zillur Rahman FCMA, Chairman of Dhaka BranchKnowledge Sharing & Study Circle Committee offeredwelcome address and introduced the Resource Person.Mr.AbdulAlimMunshiFCMA,CFO,Fiber@homeLtd.spokeonthesessionastheResourcePerson.Agoodnumberofmembersandstudentswerepresentandactivelyparticipatedinthesession.

UPGRADE:ANewThoughtonYouthLeadership



The Dhaka Branch Council (DBC) of ICMAB organized a Seminar on “Entrepreneurship Strategy throughVenture Capital: A Call for the Emerging CEO” for ICMAB Members on January 20, 2018 at ICMAB RuhulQuddus Auditorium, ICMA Bhaban, Dhaka. Mr. Md. Mushfiqur Rahman FCMA, Chairman of DBC presidedover the session and introduced the Session Chairman. DBCTreasurer Md. Mumlook Hossain FCA, FCMAofferedwelcomeaddressandintroducedtheResourcePerson.Mr.ZiaU.AhmedPh.D,Chairman,VIPBAssetManagement Company Ltdwas present as the Session Chairman. Mr. Shawkat Hossain FCMA, ManagingDirector, BD Venture Limited was present as the Resource Person. Mr. Jamal Ahmed Choudhury FCMA,PresidentoftheInstitutewaspresentastheGuestofHonor.Mr.ZillurRahmanFCMA,ChairmanofDhakaBranchKnowledgeSharing&StudyCircleCommitteenicelyconductedtheprogram&DBCVice-ChairmanMr.S.M.AfjalUddinFCMAofferedvoteofthanks.Agoodnumberofmembersandstudentswerepresentandactivelyparticipatedinthesession.

Seminaron“EntrepreneurshipStrategythroughVentureCapital:ACallfortheEmergingCEO”

36 hours long Job OrientedTrainingonTextileforourvaluedmemberswereorganizedbytheDBCatICMABhaban,Dhaka.TheProgramwasheldonJanuary11,18,23,25,Feb.03&06,2018.TheprogramswerepresidedoverbyDBCVice-ChairmanMr.S.M.AfjalUddinFCMA.Resourcepersonsof the program were Mr. SaifulIslam FCMA, Chief FinancialOfficer, Envoy Textiles Limited& Mr. Ataur Rahman ACMA,Head of Internal Audit, EnvoyTextilesLimited.Agoodnumberof members ware present andactively participated in theworkshop.

36hoursWorkshoponTextile



TheAnnualPicnic-2017organizedbytheDhakaBranchCouncilofICMABonFebruary02,2018atMeghBariResort,UlukholaRoad,Kaligonj,Gazipur.Morethan850Dhaka-basedmembers,guestsandfamilymembersparticipatedinthepicnicandspentthewholedaywithjoyandmerriment.Amongtheeventsimportantoneswere:raffledraw,pillow-passingforthechildren.OfficeBearersoftheNationalCouncilandDhakaBranchCouncilattendedtheprogram.

AnnualPicnic2017

DBCorganizedaSeminaron“BalancedScorecard-TrackertoMapStrategicMilestone”forICMABMembersonFebruary07,2018atICMABhaban,Dhaka.Mr.Md.MushfiqurRahmanFCMA,ChairmanofDBCpresidedover the session. Mr. Zillur Rahman FCMA, Chairman of Dhaka Branch Knowledge Sharing & Study CircleCommitteeofferedwelcomeaddress.Mr.Md.KausarAlamFCMA,ChiefFinancialOfficer&CompanySecretary,Seven Circle Bangladesh spoke on the session as the Resource Person.A good number of members andstudentswerepresentandactivelyparticipatedintheseminar.

Seminaron“BalancedScorecard-TrackertoMapStrategicMilestone”


A day long training programson “Transfer Pricing and BEPSs-The way forward” was organizedby the DBC at ICMA Bhaban,Dhaka on February 10, 2018. Theprogram was presided over byDBC Chairman Mr. Md. MushfiqurRahman FCMA.The programwasmoderated by DBC Treasurer Mr.Md. Mumlook Hossain FCMA.Resource person of the programwas Mr. Kamruzzaman ACA,a Senior Manager in TransferPricing Department of KPMG inBangladesh. Large number ofcorporate executives includingICMAB members attended thetrainingprogram.

DBC’sTrainingProgramon“TransferPricingandBEPSs-Thewayforward”

TheDBCoftheInstituteorganizedaKabitaAbbritti&PithaUtshobonFebruary16,2018.Thisisthefirsttimesuchasaprogramhasbeenarranged.DBCChairmanMr.Md.MushfiqurRahmanFCMApresidedovertheprogram.Mr.RafiqAhmadFCMA,PastPresidentandoneofthefoundermembersoftheInstitutewaspresentintheprogramastheprincipalspeaker.Amongothers,pastPresidents,CouncilMembers&DBCEx-ChairmenoftheInstitutespokeontheoccasion.TheprogramincludedCulturalShowwhereMr.RafiqAhmadFCMAandMr.S.M.ZahirUddinHaiderFCMAalsoperformed.Alargenumberofmembersandguests joinedtheprogramenthusiastically.

KabitaAbbritti&PithaUtshobofDhakaBranchCouncilofICMAB




The DBC of ICMAB organized aProbhat Ferry on 21st February, 2018 inobservance of Amar Ekushey which isnow internationally recognized as theInternational Mother Language Day.Associate and Fellow members of theInstitute, their family members, a goodnumber of ICMAB students and DBCstafftookpart intheProbhatFerry.Floralwreath was placed at the central ShahidMinar to commemorate the contributionof thebravepatriotswho laiddowntheirlivesfortheirmotherlanguage.Mr.S.M.AfjalUddinFCMA,Vice-ChairmanofDBCledtheprocession,whichwasalsoattendedbythePastPresidentoftheInstituteMr.RafiqAhmadFCMA,PresidentMr.MohammedSalimFCMA&DBCSecretaryMr.MonjurMd.ShaifulAzamFCMA.

HomagetotheMartyrsofLanguageMovement

The Dhaka Branch Council (DBC) of the Institute organized a reception to the newly qualified Cost andManagementAccountantsqualifiedinDecember,2017ExamonFebruary24,2018atICMABSeminarRoom.Mr.Md.MushfiqurRahmanFCMA,ChairmanofDBCpresidedovertheprogram.IntheCMADecember2017Exam,08CMAswerequalifiedandattendedtheprogramalongwiththeirfamilymembers.Theyalsospokeofthehindrancesinachievingthefinalsuccess.TheywereawardedamementoandasmallDBCsouvenirasatokenofrecognitiononbehalfofDBCbytheDBCChairman&otherscouncilmembers.DBCCouncilorMr.ZillurRahmanFCMAgavethewelcomeaddressandnicelyconductedtheprogram.DBCTreasurerMr.Md.MumlookHossainFCA,FCMA,CouncilorMr.Md.AbdusSatterSarkarACA,FCMA&Mr.A.K.M.KamruzzamanFCMAalsospokeontheoccasion.DBCViceChairmanMr.S.M.AfjalUddinFCMAofferedthevoteofthanks.

ReceptiontotheNewlyQualifiedCMAs


DBC organized a Prize Giving Ceremony of DBCAnnual Games Competition 2017 on February 25, 2018 atICMABTrainingRoom.Mr.Md.MushfiqurRahmanFCMA,ChairmanofDBCpresidedovertheprogram,whileMr.MohammedSalimFCMA,presidentof the InstitutewaspresentastheGuestofHonoranddistributedprizesamongthewinnersofthedifferentindoorgames.Mr.Md.AbdurRahmanKhanFCMA,SecretaryoftheInstitutealsospokeontheoccasion.

PrizeGivingCeremonyofDBCAnnualGamesCompetition-2017

DBCCelebrateIndependence&NationalDay

TheDhakaBranchCouncil(DBC)oftheInstitutehascelebrated48thIndependence&NationalDaythroughDiscussions, Cultural Program, Kids’ Art Competition on Monday, 26 March 2018 at ICMAB Ruhul QuddusAuditorium, Dhaka.The Programwas presided over by DBC Chairman Mr.A.K.M. Kamruzzaman FCMA. Mr.H. N Ashequr Rahman MP, Honorable Chairman of the Parliamentary Standing Committee on Ministry ofAdministrationwaspresentintheprogramastheChiefGuest.Mr.A.K.M.DelwerHussainFCMA,ChairmanoftheSugar&FoodIndustriesCorporation&Mr.M.AbulKalamMazumdarFCMA,VicePresidentoftheInstitutewerepresentastheSpecialGuests.AmongothersInstitute’sPastPresidentMr.RafiqAhmadFCMA,currentofficebearersandcouncilorsofICMAB&DBCandalargenumberoffellowandassociatemembersofICMABandtheirfamilieswerealsopresentandenjoyedtheprogram.ThefunctionincludedPrizeDistributionandCulturalprogramonliberationwarfollowedbydinner.



3-DayExclusiveProfessionalDevelopmentWorkshopon“AdvanceduseofExceltoDashboardReporting”

3-DayExclusiveProfessionalDevelopmentWorkshopon“Advanced use of Excel to Dashboard Reporting” wereorganizedbytheDBCatICMABhaban,Nilkhet,Dhaka.TheProgramwasheldonApril19,20&21,2018.TheprogramspresidedoverbyDBCChairmanMr.A.K.M.KamruzzamanFCMA.Resourcepersonsof theprogramwereMr.SaifulIslam FCMA, Chief Financial Officer, Envoy TextilesLimited&Mr.AtaurRahmanACMA,HeadofInternationalAudit, Envoy Textiles Limited. Large number corporateexecutives including ICMAB members attended thetrainingprogram.

CareerCounselling&OrientationProgramandDistributionofScholarship

DBC of ICMAB organized a “Career Counselling & Orientation Program and Distribution of Scholarship”programforthenewlyadmittedstudentsatthe ICMABRuhulQuddusAuditorium,Nilkhet,DhakaonApril10, 2018. Mr. Mamun Rashid, the Managing Partner, PricewaterhouseCoopers Bangladesh Private Limited,Ex-ManagingDirector&CEO,CitiN.A.,EminentEconomistof theCountrywaspresentas theChiefGuest.Mr.MohammedSalimFCMA,Hon’blePresidentoftheInstitutewaspresentastheGuestofHonor.Mr.A.K.M.KamruzzamanFCMA,ChairmanofDhakaBranchCouncilpresidedovertheprogram.

TheChiefGuestinhisspeechappreciatedtheroleofCostandManagementAccountantsfortheeconomicdevelopment of the country. He advised the students to pursue the CMA education with dedication andsincerity.Mr.A.K.M.KamruzzamanFCMAinhisspeechemphasizedtheroleofCMAinthecontextofpresentandfutureglobaleconomyandcompetitivebusinessenvironment.TheGuestofHonorMr.MohammedSalimFCMAalsospokeaboutCMAprofession.Mr.Md.BakhtiarAlamFCMA,SecretaryofDBCwelcomedtheguestandMr.Md.AbdusSatterSarkarACA,FCMA,ViceChairmanofferedthevoteofthanks.Dr.SyedAbdullaAlMamunFCMA,DBCMember&resourcepersonpresentedapaperonCMAeducationandprofession.Afullypaid4days’studytourpackagehasbeenawardedtothebestpresenteramongnewstudentssponsoredbyLankaBanglaFinanceLimited,aleadingfinancialinstitutionofthecountry.

AmongothersMr.AbulKalamMazumdarFCMA,VicePresident&Chairman,Examinationcommittee,Mr.ArifKhan FCMA,Vice President & Chairman, Education Committee, Mr. Md. Mahbub UlAlam FCMA, ExecutiveDirectorwerepresentandspokeintheprogram.AlargenumberofnewlyadmittedstudentsandmembersoftheInstitutewerealsopresentintheprogram.



Seminaron“StressManagementandPreventionofHeartDiseases,StrokeandDiabetes”

TheDhakaBranchCouncil(DBC)ofICMABorganizedaSeminaron“StressManagementandPreventionofHeartDiseases,StrokeandDiabetes”onApril24,2018atICMABRuhulQuddusAuditorium,Nilkhet,Dhaka.TheProgramwaspresidedoverbyDBCChairmanMr.A.K.M.KamruzzamanFCMA.Mr.M.MaksudHossain,B.Pharm. & M. Pharm. University of Dhaka was present as the resource person. Mr. Ruhul Ameen FCMA,ManagingDirector,BangladeshThaiAluminumLtd.waspresentastheChiefGuest.Mr.MohammedSalimFCMA,HonorablePresident,ICMABwaspresentastheGuestofhonor.Mr.Md.BakhtiarAlamFCMA,SecretaryofDhakaBranchCouncilgavethewelcomeaddressandintroducedtheResourceperson.Alargememberoffellow&associatemembersandStudentsofICMABwerepresentandactivelyparticipatedintheprogram.Mr.ShohagAlMamunACMA(A-1361)nicelyconductedtheprogram.

CMAMembersFamilyDay,Art,I.Q.Test,Recitation&EssayCompetition2018heldforChildren’sofDBCMembers

DBC organized “CMA MembersFamilyDay,Art,I.Q.Test,RecitationandEssaywritingcompetition2018”atDBCflooronApril27,2018.Morethan hundred children of Dhaka-basedmembersparticipatedinthecompetition.Mr.MohammedSalimFCMA, President of the InstitutewaspresentastheGuestofhonor.Agoodnumberofmembersalongwith their spouses and childrenattendedtheprogramsjoyfully.



ReceptiontothenewlyelectedOfficeBearersofICMABNationalCouncil2018&otherAnnualEvents

On May 11, 2018, DBC organized “Reception to the office Bearers of ICMAB National Council-2018, CMAMembersFamilyDayandthanksgivingceremonyto the immediatepastChairmanofDBCMd.MushfiqurRahmanFCMAatICMABRuhulQuddusAuditorium,ICMABhaban,Nilkhet,Dhaka.Mr.A.K.M.KamruzzamanFCMA,ChairmanofDhakaBranchCouncilpresidedovertheprogram.Buildinginterpersonalrelationshipanddevelopmentof fellowshipwasthe inner themeof thisprogram.Thefunction includedPrizeDistribution,Magicshow,RaffleDraw,andCulturalShowfollowedbydinner.AlargenumberofDhaka-basedmembersandtheirfamilyenjoyedtheshowandattractiveraffledraw.

Eid-ReunionThe Dhaka Branch Councilof the Institute organized“DBC Eid-Reunion followedby Fellowship Dinner”on June 23, 2018 at DBCFloor in the CMA Bhaban,Nilkhet, Dhaka. Mr. A.K.M.Kamruzzaman FCMA,Chairman of DBC presidedover the program. Mr.Rafiq Ahmad FCMA, PastPresident of the Institutewaspresentintheprogramas the principal speaker.Among others, President,past Presidents, CouncilMember & DBC Ex-

ChairmenoftheInstitutespokeontheoccasion.AlargenumberofmemberoftheInstitutewerepresentandactivelyparticipatedintheprogram.



TheDhakaBranchCouncil(DBC)oftheICMABorganizedLaunchingCeremonyof“VisionCMAtoCEOProgram”followedbyKeynotePaperpresentationon“LeadingPowerfully”onMay15,2018atICMABRuhulQuddusAuditorium,Nilkhet,Dhaka.TheProgramwaspresidedoverbyDBCChairmanMr.A.K.M.KamruzzamanFCMA.Mr.ShehzadMunim,theManagingDirectorofBritishAmericanTobaccoBangladesh(BATB)waspresentastheChiefGuest.Mr.AbuSayedMd.ShaykhulIslamFCMA,PastPresidentICMABandCEOIn-Charge&CFO,RupayanGroupwaspresentastheSpecialGuest.Mr.NajmusAhmed(Albab),CEO,LighthouseBangladeshLtd, a leading organization on Human Capital Development in Bangladesh was present as the resourceperson. Mr. Mohammed Salim FCMA, Honorable President, ICMABwas present as the Guest of honor. Dr.SyedAbdullaAlMamunFCMA,CouncilMemberofDBC&ProgramCoordinatorgavethewelcomeaddressandintroducestheResourceperson.Alargememberoffellow&associatemembersandStudentsofICMABwerepresentandactivelyparticipatedintheprogram.Mr.ShohagAlMamunACMA(A-1361)nicelyconductedtheprogram.

“VisionCMAtoCEOProgram”

OpeningCeremonyofDBCWorldCupFootballFest2018

TheDhakaBranchCouncil(DBC)ofICMABorganized an Opening Ceremony of DBCWorld Cup Football Fest 2018 on June11, 2018 at DBC Floor, Members’ LoungeRoom, ICMA Bhaban, Nilkhet, Dhaka.The Program was presided over by DBCChairman Mr. A.K.M. Kamruzzaman FCMA.Mr. Mohammed Salim FCMA, Presidentof ICMAB and Mr. A.K.M. Delwer HussainFCMA, Chairman, Bangladesh Sugar &

FoodIndustriesCorporationwerepresentattheprogramandinauguratedtheOpeningCeremony.Amongothers Council Members and Past Presidents of ICMAB, Past Chairmen, current office bearers and othercouncilmembersofDBCandalargememberoffellowandassociatemembersofICMABwerepresentontheoccasion.



DiscussionSessionon“TheimportanceofFarewellSermon/LectureofMuhammadurRasulullah(PBUH)inthepresentcontext”&“ImportanceofZakat”andIftar,Do’aMahfil&Kids’HolyQuranRecitationCompetition

TheDhakaBranchCouncil(DBC)ofICMABorganizedaDiscussionSessionon“TheimportanceofFarewellSermon/Lecture of Muhammadur Rasulullah(PBUH) in the present context” & “Importance ofZakat” and Iftar , Do’a Mahfil & Kids’ Holy QuranRecitation Competition on June 01, 2018 at ICMABhaban,Nilkhet,Dhaka.TheProgramwaspresidedover by DBC Chairman Mr. A.K.M. KamruzzamanFCMA.Dr.MorshedAlamSalehi,AssociateProfessor,BeldiDarolHadishAliaMadrasha,Khatib,ShajadpurJame Mosque, Gulshan, Dhaka and Chairman,

TafsirulQuranResearchCommitteewasGuestSpeaker&KeyResourcePerson.AmongothersInstitute’sThePresident,CouncilMembersandPastPresidentsofICMAB,PastChairmen,currentofficebearersandothercouncilmembersofDBCandalargememberoffellowandassociatemembersofICMABwerepresentontheoccasion.ThefunctionincludedPrizeDistributionamongthewinnerofthecompetitorKids’HolyQuranRecitation Competition. Finally, Do’a Mahfil followed by DBC Iftar Party was arranged and a Munajat wasoffered.Alargenumberofmembers&studentsoftheInstitutewerepresentintheprogram.

Discussionsessionon“PerformingHolyHajj-apracticalapproach”.

The Dhaka Branch Council (DBC) ofthe ICMAB organized a DiscussionSession on " Performing Holy Hajj-a practical approach” on July 05,2018 at ICMA Bhaban, Nilkhet,Dhaka. The Program was presidedover by DBC Chairman Mr. A.K.M.KamruzzamanFCMA.Mr.G.M.OmarFaruqueChowdhuryFCMA,Principal& CEO, G M Chowdhury & Co. (Costand Management Accountants) waspresentasSessionChairman.Mr.Md.IbrahimKhalilFCMA,Principal,Khalil&Associates(Cost&ManagementAccountants)waspresentascommentator.Dr.MohammadManzur-E-Elahi,AssistantProfessoratBangladeshNationalUniversity,Member-ShariahBoardatIslamiBankBangladeshLtd.andaMember-ShariahBoardatSEMLIBBLShariahFundwaspresentasthekeyResourcePerson.AmongothersInstitute'sPastPresidents,PastChairmenofDBC,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowand associate members were present and actively participated in the program. DBC Treasurer Mr. A.K.MZakariaHossainFCMAgavethewelcomeaddress.Mr.Md.BakhtiarAlamFCMA,SecretaryofDBCofferedvoteofthanks.



“CertificateCourseonIAS&IFRS”,Module-1

TheDhakaBranchCouncil(DBC)ofthe ICMABorganizeda“CertificateCourse on IAS & IFRS”, Module-1on July 10, 2018 at ICMA Bhaban,Dhaka. The Program was presidedover by DBC Chairman Mr. A.K.M.KamruzzamanFCMA.Mr.Md.SyfulIslam FCA, FCMA, Syful ShamsulAlam & Co. and Mr. Md. SarwarHossenFCA,FCMA,GroupFinancialOfficer, Bio Pharma Limited waspresent as Session Chairman andcommentator respectively. Mr. Md.Tareq Kamal ACA, Manager, AuditandL&D(Learning&Development)

atKPMGBangladesh(RahmanRahmanHuq)waspresentasthekeyResourcePerson.AmongothersPastPresidentsofICMAB,PastChairmenofDBC,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowandassociatemembersandStudentsofICMABwerepresentandactivelyparticipatedintheprogram.Dr.SyedAbdullaAlMamunFCMA,DBCCouncilor&AssociateProfessorofFinance&Head,SAC, Southeast Business School, Southeast University & Finance expert, G2G SEZ Project, JICA offeredwelcomeaddressandnicelyconductedtheprogram.

DBC'sTrainingProgramon"IncomeTax,VAT&Customs"held

Six-day longtrainingprogramson"IncomeTax,VAT&Customs"wereorganizedbytheDBCatICMABhaban,Dhaka.TwosessionssofarheldonJuly12to20&July28 to August 02, 2018. The programs was presidedoverbyDBCChairmanMr.A.K.M.KamruzzamanFCMA.The programs were moderated by Mr. Md. AbdusSatter Sarkar FCA, FCMA, Vice-Chairman of DBC. Ineach program, there were eleven technical sessions.Resource persons of the programs were Mr. RanjanKumar Bhowmik FCMA, Member, Commissioner ofTaxes, NBR, GOB. Mr. Mohammed Zakir Hossain,Additional Commissioner NBR, Mr. A. K. M. MahbuburRahman,AdditionalCommissioner,NBR,Mr.Md.AbdurRahman Khan FCMA, Deputy Secretary, Finance Division, Ministry of Finance, Kazi Muhammad Zia UddinFCMA,AdditionalDirectorGeneral(ADG),CustomsIntelligence&InvestigationDirectorateNBR,Mr.ApurbaKantiDas,CommissionerofTaxes,NBR,,Mr.JayantaKumarPodder,Principal&CEO,Podder&Associates,CostandManagementAccountants.LargenumberofcorporateexecutivesincludingICMABmembersattendedthetrainingprograms.



“DBCFIFAWorldCupRussia2018FinalMatchEnjoymentFest”withExclusiveRaffleDrawonEntryCoupons&QuizCompetition

The Dhaka Branch Council (DBC) ofICMABorganized“DBCFIFAWorldCupRussia 2018 Final Match EnjoymentFest” with Exclusive Raffle Draw onEntry Coupons & Quiz Competition onJuly 15, 2018 at ICMAB Ruhul QuddusAuditorium, Dhaka. The Programwas presided over by DBC ChairmanMr. A.K.M. Kamruzzaman FCMA. Mr.Mohammed Salim FCMA, Presidentof ICMAB, Past Presidents of ICMABMr. A.K.M. Delwer Hussain FCMA,Chairman, Bangladesh Sugar & FoodIndustries Corporation and Mr. A.S.M.Shaykhul Islam FCMA, CEO In-Charge&CFO,RupayanGroupwerepresentandspokeattheprogram.AmongothersCouncilMembersandPastPresidentsofICMAB,PastChairmen,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowandassociatemembersofICMABwerepresentontheoccasion.ThefunctionincludedPrizeDistributionfollowedbydinner.

Seminaron“InternalControlandCompliance–APracticalApproach”The Dhaka Branch Council (DBC) ofthe ICMAB organized a Seminar on“InternalControlandCompliance–APractical Approach” on July 17, 2018atICMABhaban,Dhaka.TheProgramwas presided over by DBC ChairmanMr. A.K.M. Kamruzzaman FCMA. Mr.AhmedAtaulHakeemFCMAControllerofExaminations-BRACUniversityandEx-Comptroller and Auditor General,Government of Bangladesh and Mr.Md.Abdus Satter Sarkar FCA, FCMA, Partner, Mahfel Huq & Co. CharteredAccountants and Principal,A.S.Sarkar & Co. Cost and Management Accountants were present as the session Chairman & Commentatorrespectively.Mr.AbulBashirKhanFCMA,ChiefFinancialOfficer(CFO),SocialMarketingCompany(SMC)waspresentastheresourceperson.AlargenumberoffellowandassociatemembersofICMABwerepresentandactivelyparticipatedintheprogram.Mr.Md.MamunurRashidFCMA,DeputyManagingDirector,IndexGroupofCompanies&CouncilMemberofICMABnicelyconductedtheprogram.



Workshopon“SustainabilityReporting&GreenBanking-AConceptualFramework”

The Dhaka Branch Council (DBC) of ICMAB organized a Workshop on “Sustainability Reporting & GreenBanking-AConceptualFramework”onJuly21,2018atICMABRuhulQuddusAuditorium,ICMABhaban,Dhaka.The Programwas presided over by DBC Chairman Mr.A.K.M. Kamruzzaman FCMA. Mr. Md. BakhtiarAlamFCMA,SecretaryofDBCgavethewelcomeaddress.Dr.Md.SalimUddinFCA,FCMA,Chairman–BangladeshHouseBuildingFinanceCorporation,Director–IslamiBankBangladeshLimitedandProfessor,DepartmentofAccounting–UniversityofChittagongandDr.SyedAbdullaAlMamunFCMA,DBCCouncilor&AssociateProfessorofFinance&Head,SAC,SoutheastBusinessSchool,SoutheastUniversity&Financeexpert,G2GSEZProject,JICAwerepresentasthesessionChairman&Commentatorrespectively.Mr.Md.TouhidulAlamKhanFCMA,DeputyManagingDirector&ChiefBusinessOfficer,PrimeBankLtd.waspresentastheresourceperson.AlargenumberoffellowandassociatemembersofICMABwerepresentandactivelyparticipatedintheprogram.Mr.Md.AbdusSatterSarkarFCA,FCMA,Vice-ChairmanofDBCofferedvoteof thanks.Mr.ShohagAlMamunACMA(A-1361)nicelyconductedtheprogram.

DiscussionSessionon“DBCQuranReadingCourse”

The Dhaka Branch Council (DBC)of ICMAB organized a DiscussionSession on “DBC Quran ReadingCourse” on July 24, 2018 at ICMABhaban, Dhaka. The Program waspresided over by DBC ChairmanMr. A.K.M. Kamruzzaman FCMA. Mr.SafiulAzam FCMA,Treasurer of DBCgave welcome address. Mr. Md.Nazrul Islam FCMA, Group GeneralManager-Finance, Sheltech Groupwaspresentastheresourceperson.AlargenumberoffellowandassociatemembersofICMABwerepresentandactivelyparticipatedintheprogram.



LeadershipDevelopmentProgram:“SuccesswithNetworking&Etiquette”

The Dhaka Branch Council (DBC) of ICMAB organized Leadership Development Program: “Success withNetworking&Etiquette”forICMABMembersonJuly31,2018atICMABRuhulQuddusAuditorium,Dhaka.TheProgramwaspresidedoverbyDBCChairmanMr.A.K.M.KamruzzamanFCMA.Mr.AdilIslam,ManagingDirector&CEO,MeghnaBankLimitedwaspresentastheChiefGuest.Mr.Md.AbdulAzizFCMA,ManagingDirector,WesternAgro Industries Ltd. and Past President of ICMABwas present as the Special Guest. Mr. NajmusAhmed(Albab),CEO,LighthouseBangladeshLtd,aleadingorganizationonHumanCapitalDevelopmentinBangladeshwaspresentastheresourceperson.Mr.MohammedSalimFCMA,HonorablePresident,ICMABwaspresentastheGuestofhonor.Dr.SyedAbdullaAlMamunFCMA,CouncilMemberofDBC&ProgramCoordinator gave thewelcome address and introduced the Resource person.A large number of fellow &associatemembersandStudentsofICMABwerepresentandactivelyparticipatedintheprogram.Mr.Md.AbdusSatterSarkarFCA,FCMA,Vice-ChairmanofDBCofferedvoteofthanks.Mr.ShohagAlMamunACMA(A-1361)nicelyconductedtheprogram.

“CertificateCourseonCapitalRaising(Equity&Debt)throughPrivatePlacement&InitialPublicOffering(IPO)–Process,ProcedureandCorporateGovernance”

Three days “Certificate Course on Capital Raising (Equity&Debt)throughPrivatePlacement&InitialPublicOffering(IPO) – Process, Procedure and Corporate Governance”was organized by the Dhaka Branch Council of ICMAB atICMA Bhaban, Nilkhet, Dhaka. The program was held onAugust09-11,2018.TheprogramwaspresidedoverbyDBCChairmanMr.A.K.M.KamruzzamanFCMA.TheprogramwasmoderatedbyDBCCouncilorMr.MuhammadNazrulFCMA.Intheprogram,therewerefivetechnicalsessions.ResourcepersonsoftheprogramwasMr.M.A.FaisalMahmud,Chief Investment Officer (CIO), LankaBanglaAsset Management Company, Mr. Mohammad Hamdul Islam,ManagingDirector&CEO,BancoFinanceAndInvestmentLimited,Mr.Md.AbulKalam,Director,BangladeshSecuritiesandExchangeCommission(BSEC),Mr.NoorAhamedFCA,ManagingDirector&CEO,AplhaCapitalManagementLimited,Mr.MuhammadNazrulIslamFCMA,ManagingDirector&CEO,SandhaniLifeFinanceLtd.andMr.KamrulAnamKhanACMA,Director,BangladeshSecuritiesandExchangeCommissionandLargenumbercorporateexecutivesincludingICMABmembersattendedthetrainingprograms.



“DiscussionSessiononFinanceAct&NationalBudget2018-19andCertificateGivingCeremonyofDBC6-dayTrainingonTax,VAT&Customs”

OnAugust02,2018DBCorganizeda“DiscussionSessiononFinanceAct&NationalBudget2018-19andCertificateGiving Ceremony of DBC 6-day Training on Tax, VAT &Customs”atICMABRuhulQuddusAuditorium,Dhaka.Mr.A.K.M. Kamruzzaman FCMA, Chairman of DBC presidedover the program. DBC Secretary Mr. Md. BakhtiarAlamFCMAgavethewelcomeaddress.Mr.HasanulHaqInuMP,HonorableMinister,Ministryof Information,GovernmentofthePeople’sRepublicofBangladeshwaspresentintheprogram as the Chief Guest. Mr.A.K. M. Delwer Hussain

FCMA,Chairman,BangladeshSugar&FoodIndustriesCorporationwaspresentintheprogramasthespecialguest.Mr.M.A.FaisalMahmud,ChiefInvestmentOfficer(CIO),LankaBanglaAssetManagementCompanyLtd.waspresentastheResourcePerson.TheChiefGuest,SpecialGuest&ResourcePersondistributedCertificatesamongtheparticipantsofdifferentorganizations.Mr.ShohagAlMamunACMA(A-1361)nicelyconductedtheprogram.Alargenumberofmembers&studentsoftheInstitutewerepresentintheprogram.

ICMABStudents’OrientationProgramThe Dhaka Branch Council of The Institute of Costand Management Accountants of Bangladesh(ICMAB)organized"CareerCounselling&OrientationProgram for the newly admitted students (July-December,2018)sessionattheICMABRuhulQuddusAuditorium, Nilkhet, Dhaka on August 14, 2018. Mr.

AsifAshraf,theManagingDirectorandChiefExecutiveOfficer,UrmiGroupwaspresentastheChiefGuest.Mr.A.S.M.ShykhulIslamFCMA,CEOIn-Charge&CFO,RupayunGroup&PastPresidentofICMABwaspresentastheSpecialGuest.Mr.MohammedSalimFCMA,Hon’blePresidentoftheInstitutewaspresentastheGuestofHonor.Mr.A.K.M.KamruzzamanFCMA,ChairmanofDhakaBranchCouncilpresidedovertheprogram.

The Chief Guest Mr.AsifAshraf in his speech appreciated the role of Cost and ManagementAccountantsfortheeconomicdevelopmentofthecountry.HeadvisedthestudentstopursuetheCMAeducationwithdedicationandsincerity.Mr.A.K.M.KamruzzamanFCMA inhisspeechemphasized the roleofCMA in thecontextofpresentandfutureglobaleconomyandcompetitivebusinessenvironment.TheGuestofHonorMr.MohammedSalimFCMAalsospokeaboutCMAprofession.

Dr.SyedAbdullaAlMamunFCMA,DBCMember&resourcepersonpresentedapaperonCMAeducationandprofession.,Forthe2ndtimeintheHistoryofICMAB,arrangedafullypaid4nights/5days’studytourpackageinThailandawardedtothebestpresenteramongnewsponsoredbyLankaBanglaFinanceLimited,aleadingfinancialinstitutionofthecountry.

AmongothersMr.ArifKhanFCMA,VicePresident&Chairman,EducationCommittee,Mr.Md.MahbubUlAlamFCMA,ExecutiveDirectorwerepresentandspokeintheprogram.AlargenumberofnewlyadmittedstudentsandmembersoftheInstitutewerealsopresentintheprogram.Mr.ShohagAlMamunACMA(A-1361)nicelyconductedtheprogram.



“CertificateCourseonIAS&IFRS”Module-2

TheDhakaBranchCouncil(DBC)oftheICMABorganized a “Certificate Course on IAS &IFRS”, Module-2 on September 08, 2018 atICMA Bhaban, Nilkhet, Dhaka. The Programwas presided over by DBC Vice-Chairman Mr.Md. Abdus Satter Sarkar FCA, FCMA. Mr. Md.Mamaunur Rashid FCMA, Council Member ofICMAB & Deputy Managing Director of IndexGroup and Mr. Md. Monowar Hossain FCA,FCMA, Head of Internal Control & Compliance(ICC)andCyberAudit,AgraniBankLimitedwaspresentasSessionChairmanandcommentatorrespectively.Mr. Md. Sarwar Hossen FCA, FCMA, Group Financial Officer, Bio Pharma Limited was present as the keyResourcePerson.AmongothersInstitute'sPastPresidentofICMAB,PastChairmen,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowandassociatemembersandStudentsofICMABwerepresentandactivelyparticipatedintheprogram.Mr.Md.BakhtiarAlamFCMA,SecretaryofDBCofferedwelcomeaddressandnicelyconductedtheprogram.

FirstEverRegionalProfessionalDevelopmentProgramofDBCatMirpur,Dhaka

ForthefirsttimeinhistoryofDBCoftheICMABorganizeda“FirstEverRegionalProfessionalDevelopmentProgram”ofDBCatMirpur,Dhaka.TheProgramwaspresidedoverbyDBCChairmanMr.A.K.M.Kamruzzaman,FCMA.MrA.S.M.ShaykhulIslamFCMA,CEO(In-Charge)&CFO,RupayanGroupandPastPresident,ICMABwaspresentastheChiefGuest.Mr.Md.ZillurRahmanFCA,CFO,NRBGlobalBankLimitedwaspresentasthekeyResourcePerson.AmongothersInstitute'sPastPresidentofICMAB,PastChairmen,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowandassociatememberswerepresentandactivelyparticipatedintheprogram.Mr.Md.AbdusSatterSarkarFCA,FCMA,Vice-ChairmanofDBCofferedwelcomeaddressandnicelyconductedtheprogram.



InaugurationCeremonyofDBCAnnualIndoorGamesFest-2018As a routine event, the DBC ofICMAB organized DBC AnnualIndoor Games Fest-2018 for itsmembers and spouses at theMember's corner, ICMA Bhaban,Dhaka. Mr. Mohammed SalimFCMA, President of ICMAB, Mr.Md. Abdur Rahman Khan FCMA,Secretary of ICMAB & Mr. Md.Mahsudur Rahman FCA, FCMA,"Mr. Bangladesh" title, AsianBody Building "Bronze Medal"of the Institute respectivelyjointly inaugurated the inauguralceremony of the competitiononSeptember15,2018.TheywereaccompaniedbyDBCChairmanMr.A.K.M.KamruzzamanFCMA.AlargenumberofmembersalongwithothercouncilorsofDBCrespectivelywerealsopresentintheoccasion.AfewgamesparticularlytheCarom,TableTennisandCardGamewereinauguratedduringthatoccasion.

LeadershipDevelopmentProgram:“EmotionalIntelligence:HowDoesItMatterForFinanceProfessionals?”The Dhaka Branch Council (DBC)of ICMAB organized LeadershipDevelopment Program: “EmotionalIntelligence: How Does It Matter ForFinance Professionals?” for ICMABMembers on September 18, 2018 atICMAB Ruhul Quddus Auditorium,Nilkhet, Dhaka. The Program waspresided over by DBC ChairmanMr. A.K.M. Kamruzzaman FCMA. Mr.Khwaja Shahriar, Managing DirectorLankabangla Finance Limited waspresentastheChiefGuest.Mr.RuhulAmeen FCMA, Managing Director,BangladeshThaiAluminiumLtd.waspresentastheGuestofhonor.Mr.S.M.Ariufzzaman,AssociateProfessorandHeadofSchoolofBusinessatCanadianUniversityofBangladeshandDr.SyedAbdullaAlMamun,FCMA,Associate Professor of Finance & Head, SAC, Southeast Business School, Southeast University & Financeexpert,G2GSEZProject,JICAwerepresentastheresourcepersonsrespectively.Alargenumberoffellow&associatemembersandStudentsofICMABwerepresentandactivelyparticipatedintheprogram.Mr.Md.AbdusSatterSarkarFCA,FCMA,Vice-ChairmanofDBCofferedvoteofthanks.Mr.ShohagAlMamunACMAnicelyconductedtheprogram.



“CertificateCourseonIAS&IFRS”Module-3

TheDhakaBranchCouncil(DBC)ofthe ICMABorganizeda“CertificateCourse on IAS & IFRS”, Module-2on September 25, 2018 at ICMABhaban, Nilkhet, Dhaka. TheProgramwaspresidedoverbyDBCChairmanMr.A.K.M.Kamruzzaman,FCMA.Mr.Md.AliHaiderChowdhuryFCMA, Managing Director & CEO,Aloha Bangladesh & Director,Unicom Group was present asSession Chairman. Mr. Md. SarwarHossen FCA, FCMA, Group Financial Officer, Bio Pharma Limitedwas present as the key Resource Person.Amongothers Institute'sPastPresidentof ICMAB,PastChairmen,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowandassociatemembersandStudentsofICMABwerepresentandactivelyparticipatedintheprogram.Mr.A.K.M.ZakariaHossainFCMA,CouncilMemberofDBCofferedwelcomeaddressandnicelyconductedtheprogram.

TheDBCoftheInstituteorganizedaPrayer(Do’a)forICMAB’sFounderPresidentLateRuhulQuddus,FCMA(F-001)onSeptember28,2018atDBCFloor, ICMAB,Dhaka.DBCChairmanMr.A.K.M.KamruzzamanFCMApresidedovertheprogramandgaveabriefoverviewofthecheckeredlife-sketchofthefounderPresidentandpioneerofCMAprofessionMr.RuhulQuddus.Institute’sPresidentMr.MohammedSalimFCMAwaspresentintheprogramastheprincipalspeaker.ItmaybementionedthatMr.RuhulQudduslefton28thSeptember,2002.CouncilMembersandPastPresidentsofICMAB,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowandassociatemembersandofficialsoftheInstituteattendedandprayedforthesalvationofthedepartedsoul.

Prayer(Do’a)forICMAB’sFounderPresidentLateRuhulQuddusFCMA(F-0001)



DBC of the ICMAB

organizeda“CertificateCourse on Over Viewof income Tax andChangesintheFinanceAct,2018-19relatingtoIncome Tax”, Module-1on October 02, 2018at ICMA Bhaban,Dhaka. The Program

waspresidedoverbyDBCChairmanMr.A.K.M.KamruzzamanFCMA.Mr.Md.Nazrul Islam,Member,TaxesAppellateTribunal,NBR,DhakawaspresentastheChiefGuest.Mr.SudhangsuKumerSahaACMA,DeputyCommissioner ofTaxes (DCT), National Board of Revenue, GOB.was present as the key Resource Person.AmongothersInstitute'sPastPresident,PastChairmen,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowandassociatemembersandstudentsofICMABwerepresentandactivelyparticipated in the program. Mr. A.K.M. Zakaria Hossain FCMA Council Member of DBC offered welcomeaddressandnicelyconductedtheprogram.Mr.Md.AbdusSatterSarkarFCA,FCMA,Vice-ChairmanofDBCofferedvoteofthanks.

The Dhaka Branch Council (DBC) ofthe ICMAB organized a “CertificateCourse on Capital Raising (Equity& Debt) through Private Placement& Initial Public Offering (IPO) –Process, Procedure and CorporateGovernance”, Module-1 for ICMAB

Members&StudentsonOctober09,2018atICMABRuhulQuddusAuditorium,ICMABhaban,Nilkhet,Dhaka.The Programwas presided over by DBC Chairman Mr.A.K.M. Kamruzzaman, FCMA. Mr. Mohammed NasirUddin Chowdhury, President, Bangladesh Merchant Bankers’ Association (BMBA), The Group ManagingDirector,LankaBanglaCapitalMarketOperationsandtheManagingDirector,LankaBanglaSecuritiesLimitedwaspresentastheChiefGuest.Mr.Md.MahbubHossainMazumdarFCMA,Chairman,AFCCapitalLtd.waspresent as the Special Guest. Mr. Muhammad Nazrul Islam FCMA, CMA (CIMA-UK), Council Member, DBCofICMAB&ManagingDirector&CEO,SandhaniLifeFinanceLtd.waspresentasthekeyResourcePerson.AmongothersInstitute'sPastPresident,PastChairmen,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowandassociatemembersandstudentsofICMABwerepresentandactivelyparticipatedintheprogram.Mr.Md.AbdusSatterSarkarFCA,FCMA,Vice-ChairmanofDBCofferedwelcomeaddressandnicelyconductedtheprogram.Mr.A.K.M.ZakariaHossainFCMA,CouncilMemberofDBCofferedvoteofthanks.Mr.ShohagAlMamunACMAnicelyconductedtheprogram.

CertificateCourseonCapitalRaising(Equity&Debt)throughPrivatePlacement&InitialPublicOffering(IPO)–Process,ProcedureandCorporateGovernance

CertificateCourseonOverViewofincomeTaxandChangesintheFinanceAct,2018-19relatingtoIncomeTax Module-1



The Dhaka Branch Council (DBC)of ICMAB organized a “Yoga forSound Health & Happy Life” for CMAMembersonOctober20,2018atICMABhaban, Dhaka. The Program waspresided over by DBC Chairman Mr.A.K.M. Kamruzzaman, FCMA. Adv. S.M.Shahidul Hasan Bhuiyan, HonorarySecretary, Yoga Foundation & FormerVice-President, Asia Yoga Foundationand Mr. Anisar Rahman HSBC, FormerJointSecretary,AsiaYogaFoundation&FounderGeneralSecretary,BangladeshYogaAlliancewerepresentasthekeyResourcePersons.Alargenumberoffellowandassociatememberswerepresentandactivelyparticipatedintheprogram.

YogaforSoundHealth&HappyLife

DBCOutboundWorkshopon“CMAtoCEO:GrowingtowardsLeadingwithExcellence!”atThailand2018

DBC organized an Outbound Workshop on “CMA to CEO: Growing towards Leading with Excellence!” for CMA members at Ambassador Hotel, Bangkok, the Manhattan Sukumvit Bangkok Hotel, Bangkok and Hotel Beverly Plaza, Pattaya, Thailand. The program was held on October 12-16, 2018. DBC Chairman Mr. A.K.M. Kamruzzaman FCMA presided over the program. Resource person of the program was Dr. Parichart Rachapradit, Assistant Professor, Naresuan University, Thailand. A Large number of ICMAB members participated in the training program.



DBCoftheInstituteorganizedareceptionprogramforthenewlyqualifiedCostandManagementAccountantspassedin(June,2018Exam)onOctober30,2018atICMABSeminarRoom.Mr.A.K.M.KamruzzamanFCMA,ChairmanofDBCpresidedovertheprogram.Mr.A.K.M.DelwerHussainFCMA,Chairman,BangladeshSugar&FoodInd.Corporation&PastPresidentofICMAB&Mr.MohammadSalimFCMA,Hon’blePresidentoftheInstitute were present as the Chief Guest & Guest of honor respectively. In the CMA June 2018 Exam, 37CMAswere qualified and attended the program alongwith their family members.They also spoke of thehindrances in achieving the final success.Theywere awarded a memento and a small DBC souvenir as atokenofrecognitiononbehalfofDBCbytheInstitute’sPresidents.DBCTreasurerMr.SafiulAzamFCMAgavethe welcome address and nicely conducted the program. ICMAB Ex-President Mr. A.S.M. Shaykhul IslamFCMA,DBCEx-ChairmenMr.Md.MunirulIslamFCMA&Mr.Md.AliHaiderChowdhuryFCMA,DBCSecretaryMr.Md.BakhtiarAlamFCMA,DBCCouncilorsMr.S.M.AfjalUddinFCMA,Mr.Md.MumlookHossainFCA,FCMA,Mr.A.K.MZakariaHossainFCMA,Mr.MuhammadNazrulIslamFCMA,Mr.Md.BelayetHossainFCMA,&Mr.MannanBapariACMAalsospokeontheoccasion.DBCViceChairmanMr.Md.AbdurSattarSarkerFCA,FCMAofferedthevoteofthanks.

The DBC of the Institute organized aPrayer (Do’a) for Late Mohammad Alamgir,FCMA (F-0499) on October 13, 2018 at DBCFloor, ICMAB, Dhaka. DBC Vice-ChairmanMr. Md. Abdus Satter Sarkar FCA, FCMApresidedovertheprogramandgaveabriefoverviewofthecheckeredlife-sketchofMr.MohammadAlamgir.Institute’sPresidentMr.MohammedSalimFCMAwaspresentintheprogramastheprincipalspeaker.ItmaybementionedthatMr.MohammadAlamgirlefton16thOctober,2018.CouncilMembersand

Past Presidents of ICMAB, current office bearers and other council members of DBC and a large numberoffellowandassociatemembersandofficialsoftheInstituteattendedandprayedforthesalvationofthedepartedsoul.

Prayer(Do’a)forICMAB’sFellowMemberlateMohammadAlamgirFCMA(F-0499)

ReceptiontotheNewlyQualifiedCMAs



CertificateCourseonIncomeTaxManagement,Module-2:The Dhaka Branch Council (DBC) ofthe ICMAB organized a “CertificateCourse on Income Tax Management“PersonalTaxAssessment,PreparationofTaxReturn,Reconciliationofwealthstatement & life style statement,practical approach” Module-2 onNovember 01, 2018 at ICMA Bhaban,Nilkhet, Dhaka. The Program waspresided over by DBC Chairman Mr.A.K.M. Kamruzzaman, FCMA. KaziEmdadul Haque, Member, TaxesAppellate Tribunal, NBR, Dhaka was

presentastheChiefGuest.Mr.SudhangsuKumerSaha,ACMA,DeputyCommissionerofTaxes(DCT),NationalBoardofRevenue,GOB.waspresentasthekeyResourcePerson.AmongothersInstitute’sPastPresidentofICMAB,PastChairmen,currentofficebearersandothercouncilmembersofDBCandAlargenumberoffellowandassociatemembersofICMABwerepresentandactivelyparticipatedintheprogram.Mr.MannanBapariACMA,CouncilMemberofDBCofferedwelcomeaddressandnicelyconductedtheprogram.Dr.SyedAbdullaAlMamunFCMA,CouncilmemberofDBCofferedvoteofthanks.

DiscussionSessionandExhibitioninCelebrationofInternationalAccountingDay

ThisisthefirsttimeintheHistoryofDBCofICMABDhakaBranchCouncil(DBC)oftheInstituteorganizedaDiscussionSessionandExhibition inCelebrationof InternationalAccountingDayonNovember10,2018at ICMAB Bhaban, Nilkhet, Dhaka. Mr. A.K.M. Kamruzzaman FCMA, Chairman of DBC presided over theprogram.Mr.RafiqAhmadFCMA,PastPresidentofICMABpresentastheChiefGuest.Mr.AbdulAzizFCMA,ManagingDirector,WesternAgroIndustriesLtd.&PastPresidentofICMABandMr.Mr.A.K.M.DelwerHussainFCMA,Chairman,BangladeshSugar&FoodInd.Corporation&PastPresidentofICMABwerepresentastheSpecial Guests. Mr. Md.Abdur Rahman Khan FCMA, Secretary, ICMABwas present as the Guest of honor.DBCSecretaryMr.Md.BakhtiarAlamFCMAgavethewelcomeaddressandnicelyconductedtheprogram.ICMABpastPresidentsMr.A.B.M.ShamsuddinFCMA,Mr.A.S.M.ShaykhulIslamFCMA,DBCEx-ChairmenMr.Md.MunirulIslamFCMA&Mr.Md.AliHaiderChowdhuryFCMAalsospokeontheoccasion.AlargenumberoffellowandassociatemembersofICMABwerepresentandactivelyparticipatedintheprogram.DBCViceChairmanMr.Md.AbdurSattarSarkerFCA,FCMAofferedthevoteofthanks.



“CertificateCourseonCapitalRaising(Equity&Debt)throughPrivatePlacement&InitialPublicOffering(IPO)–Process,ProcedureandCorporateGovernance”

The Dhaka Branch Council (DBC) of the ICMAB organized a “Certificate Course on Capital Raising (Equity& Debt) through Private Placement & Initial Public Offering (IPO) – Process, Procedure and CorporateGovernance”, Module-2 for ICMAB Members & Students on November 13, 2018 at ICMA Bhaban, Nilkhet,Dhaka.TheProgramwaspresidedoverbyDBCVice-ChairmanMr.Md.AbdusSatterSarkarFCA,FCMA.Mr.Md.SayadurRahman,ManagingDirectorofEBLSecuritiesLimited,Director,EBL InvestmentsLimitedandEx-President,BangladeshMerchantBankersAssociationwaspresentas theChiefGuest.Mr.MohammadHamdulIslam,ManagingDirector&CEO,BancoFinanceandInvestmentLtd.waspresentasthekeyResourcePerson.Amongothers Institute’sPastPresidentof ICMAB,PastChairmen,currentofficebearersandothercouncilmembersofDBCandalargenumberoffellowandassociatemembersandStudentsofICMABwerepresentandactivelyparticipatedintheprogram.Mr.A.K.M.ZakariaHossainFCMA,CouncilMemberofDBCofferedwelcomeaddressandnicelyconductedtheprogram.Mr.Md.BakhtiarAlamFCMA,SecretaryofDBCofferedvoteofthanks.

DBCCouncilorswiththePresident



CBC NewsCPDProgramon“AccountingforSustainability-anupdate”

ChittagongBranchCouncilofThe InstituteofCostandManagementAccountantsofBangladesh (ICMAB)organized a CPD Program on “Accounting for Sustainability-an update” on 25th December, 2017 at CMABhaban,Agrabad,Chittagong.

Mr.GolamKibriaFCMA,Chairman,ChittagongBranchCouncilofICMABpresidedovertheProgramwhileProf.Dr.Md.SalimUddinFCA,FCMAwasSession.Chairman.Prof.AtaurRahmanBelalPhD,FCA,FCCA,FCMAwaspresentastheKeyNotePaperontheoccasion.

ThepaperpresenterdescribesinsanoutofthepaperaboutthesustainabilityoftheBusinessintherapidlychangingworldandalsomentionedabouthowprofessionalCostandManagementAccountantscanplayvitalroleinthisregards.

Trainingprogramon“Excel2010&2013AdvanceLevel”Chittagong Branch Council (CBC) ofICMABorganizedTrainingprogramon“Excel2010&2013AdvanceLevel”on27th January, 2018 at CMA Bhaban,AgrabadR/A,Chittagong.

In order to enhance technical skillamong the CMA qualified Fellow andAssociates members and students,theInstituteheldsthetrainingsessionwhichwasconductedbyMr.AbuNaserMohammedHelalACCA,ACMA,Headof Finance & Accounts, Midas Safety(BD)Ltd.

At the inception of the training session the resource person focused on the importance of having sound knowledge on MS Excel. He state that every individual who intends to accomplish the corporate career should have sound knowledge on ICT and always should go for enhancing technical skills.

A good number of Fellow and Associates members and students participated at the training session.



CBCObservedShaheedDay&InternationalMotherLanguageDayon21stFebruary,2018Chittagong Branch Council observed OmorEkushey February & International MotherLanguageDayonWednesdaythe21stFebruary,2018. Mr. Golam Kibria, FCMA Chairman,Chittagong Branch Council and a significantnumber of Fellow and Associate Members ofChittagongregionsparticipatedinaProvatFerytowards Chittagong Central Shaheed Minarand placed floral wreath to commemorate thecontributionofthebravepatriotswholaidtheirlives for the Bengali language. The programended with a discussion session on the greatday of 21st February & International motherlanguageDay.

ICMABChittagongBranchCouncilorganizedCPDProgramon“ComplianceofIFRS-15:RevenuefromContractswiththeCustomers”TheChittagongBranchCouncil(CBC)ofTheInstituteofCostandManagement Accountants ofBangladesh (ICMAB) organizedCPD Program on “Complianceof IFRS-15: Revenue fromContracts with the Customers”at the CMA Bhaban, Agrabad,Chittagong on 24 February,2018.

Mr. Golam Kibria FCMA,Chairman, Chittagong BranchCouncilofICMABpresidedovertheProgramwhileMr.MohammadSaifUddinCISA,FCADirector&BranchInCharge,RahmanRahmanHuq,KPMGwerepresentasSessionChairman.

Mr. Mohammad Monowar Hossain FCA, FCS, FCMA, GM & Head of Internal Control and Compliance (ICC),AgraniBankLtd.presentedtheKeyNotePaperintheprogram.

TheChairman,CBCsaidinhiswelcomeaddress,thetopicisveryimportant, itwillhelptheparticipantsinpracticalfield.HealsoexpressedhisopinionregardingvariousfeaturesofCPDProgram.

Thepaperpresenterhighlightedthelatestdevelopmentintheinternationaltradefinance.Healsodescribedvarioustools&techniquesofComplianceofIFRS-15.AlargenumberofFellow&AssociatesmembersbasedinChittagongwerepresentintheoccasion.



CBCAnnualPicnic2017

ClassOrientationofJanuary-June2018sessionofICMABChittagongBranch

The Chittagong Branch Council of ICMABorganized two days annual picnic for itsmembers, their spouse and children at CoxToday,Cox’sBazaronMarch02&032018.Mr.Mohammed Salim FCMA, President, ICMABparticipated in the Picnic. More than 30 CMAfamily of Chittagong based members andChairman & Treasurer, Dhaka Branch CouncilparticipatedinthePicnicandspenttwodayswithjoyandhappiness.ThePresidentcongratulatesCBCforholdingsuchanaugustgatheringwitha view to promoting fraternal relationship andfellowfeelingamongthemembers.

Class Orientation ofJanuary-June 2018 session of ICMAB Chittagong Branchwas held on March 24, 2018at CMA Bhaban,Agrabad, Chittagong. Qazi Meraz UddinArif FCMA, Chairman, Chittagong Branch CouncilpresidedovertheProgramwhileMr.MohammedSalimFCMA,President,ICMABwaspresentontheoccasionas Chief Guest. Mr. MashfiqAhmed Rushad, President, Junior Chamber International, Chittagong, Prof. Dr.Swapan Kumar Bala FCMA, Treasurer & Mr. Md. Mahbub Ul Alam FCMA, Executive Director, ICMAB werepresentintheprogramasguestofhonor,specialguest&guestrespectively.

TheChiefGuestmotivatedthenewlyadmittedstudentsfortheirsuccessinpassingCMAforaglobalcareer&brightfuture.Mr.MashfiqAhmedRushadstatesthatthedemandforprofessionalaccountantsishugeinhomeandabroad.HewelcomedandcongratulatedthenewlyadmittedstudentsonbehalfofJuniorChamberInternational,ChittagongandadvisedthestudentstoreachthegoalwiththeproperstudyandthankedCBCforarrangingsuchkindofprogramtomotivatenewlyadmittedstudents.



MeetthePresidentofICMAB

InaugurationofAuditoriumofICMABChittagongBranch

MeetthePresident&professionaldiscussionwasheldonMarch24,2018atCMABhaban,Agrabad,Chittagong.TheydiscussedaboutCMAProfessionanditsupcomingchallenges.Mr.MohammedSalimFCMA,Prof.Dr.SwapanKumarBalaFCMA,ExecutiveDirectorofICMABandalargenumberofFellow&Associatemembersattendedtheprogram.

The President of ICMAB Mr. Mohammed Salim FCMA inaugurated the newly constructed Auditorium ofICMABChittagongBranchonMarch24,2018atCMABhaban,Agrabad,Chittagong.AlargenumberofFellow&AssociatemembersofICMAB&studentsofChittagongBranchattendedtheinauguralprogram.



BarshaBaran-1425andCMAFamilyNightcelebratedCBChascelebratedBanglaNoboBarsha-1425andCMAFamilyNightonApril20,2018atSaintMartinHotel,Agrabad,Chittagong.

Qazi Meraz Uddin Arif FCMA, Chairman,Chittagong Branch Council welcomed all inthe program. Mr. Mohammed Nurul HudaSiddiquee FCMA, Chairman, Cultural Events& Fellowship Night Committee of ChittagongBranch Council introduced the performersto the audience and conducted the programnicely.TheBarshaBaranprogramincludesArtCompetition,MemoryTestforthekids&gamesformembersandtheirspouses.Attheendoftheprogramprizesweredistributedamongthewinnerofdifferentevents.

AgoodnumberofFellow&AssociatemembersofChittagongregionoftheInstitutealongwiththeirfamilymembersenjoyedtheprogram.TheprogramwasconcludedwithTraditionalBaishakidinner.

CPDon“ManagementAccountingToolsforOrganizationalSustainability”

C h i t t a g o n gBranch Council ofICMAB organizeda CPD Programon “ManagementAccounting Toolsfor OrganizationalSustainability”heldonApril 13, 2018 at CMABhaban, Agrabad,Chittagong.

QaziMerazUddinArifFCMA,Chairman,ChittagongBranchCouncilofICMABpresidedovertheProgramwhileMr.MohammedMohiuddinFCMA,PastPresident,ICMABwaspresentassessionchairman.ThepaperonthetopicwaspresentedbyProfessorDr.Md. SalimUddinFCA,FCMA,Chairman,BangladeshHouseBuildingFinanceCorporation(BHBFC).

The paper presenter describes the use of different strategic models & ManagementAccounting tools forsustainabilityoftheBusinessintherapidlychangingworldandalsomentionedabouthowprofessionalCostandManagementAccountantscanplayvitalroleinthisregard.

The session Chairman thanked CBC for organizing such a timely suited program and also expressed thatthisInstitutewillarrangesuchprogramtoupdateitsmemberswiththecontemporarychangesintheworldoftrade&commerce.AlargenumberofFellow&AssociatemembersofICMAB&studentsofChittagongBranchparticipatedintheprogram.



CPDProgramon“ForensicAccounting–ABangladeshPerspectiveandInstrumentsforFraudPrevention”

Chittagong Branch Council of ICMAB organized aCPDProgramonForensicAccounting-ABangladeshPerspective and Instruments for Fraud PreventiononMay11,2018,atCMABhaban,Chittagong.

QaziMerazUddinArifFCMA,Chairman,ChittagongBranchCouncilofICMABpresidedovertheProgramwhile Mr. Showkat Hossain FCA, Senior Partner,

HodaVasiChowdhury&Co.,CharteredAccountants,ChittagongwaspresentasSessionChairman.Thepaperon the topicwas presented by Dr. Emon Kalyan Chowdhury,Assistant Professor, Chittagong IndependentUniversity,Chittagong.ThepaperpresenterdescribestheusesofdifferentmethodsofForensicAccountingtoolsforbetterfinancialprotectionoftheBusinessintherapidlychangingworldandalsomentionedabouthow professionalAccountants can play avital role in this regard.The session Chairman thanked CBC fororganizingsucha timelysuitedprogramandalsoexpress that this institutewillarrangesuchprogramtoupdateitsmemberswiththecontemporarychangesintheworldoftrade&commerce.TheprogramwasnicelyconductedbyMr.MohammadSaifulIslamFCMA,SecretaryCBCandvoteofthankstotheaudiencewasofferedbyMr.Md.MoazzamHaiderFCMA,Chairman,CPD,Training&WorkshopCommittee.ChittagongbasedFellowandAssociatemembers&seniorstudentsofICMABparticipatedintheprogram.

CPDProgramon“IslamicFinanceasanAlternativetotheConventionalFinancialSystem:TheBangladeshPerspective.”

ChittagongBranchCouncilofICMABorganizedaCPDProgramon “Islamic Finance as an Alternative to the ConventionalFinancialSystem:TheBangladeshPerspective.”onJune08,2018,atalocalRestaurant,Agrabad,Chittagong.QaziMerazUddinArif FCMA, Chairman, Chittagong Branch Council ofICMABpresidedovertheProgramwhileMr.S.M.AbuZakerPh.D, Executive Vice President, EXIM Bank Ltd., Agrabad,

Chittagongwaspresentassessionchairman.ThepaperonthetopicwaspresentedbyDr.S.M.SohrabUddin,Professor,DepartmentofFinance,UniversityofChittagong.

The paper presenter describes the use of different methods of Islamic financial tools for Business as analternativetotheconventionalfinancialsystem.Heexplainstheusesoffinancialresourcesthroughrisksharingbusiness mode Instead of Interest based financial system. He concludes that high moral & ethicalvaluebetweenIslamicfinancialinstitution&itscustomerisverymuchrequiredforthesuccessfulimplementationoftotalIslamicfinancialsystem.ForthisreasonIslamicfinancialsysteminpracticeisstillfacingchallengesintherealworldactivities.ThesessionChairmanthankedCBCfororganizingsuchatimelysuitedprogramandalsoexpressthatthisinstitutewillarrangesuchprogramtoupdateitsmemberswiththecontemporarychangesintheworldoftrade&commerce.HeillustratessomepracticalissuesrelatedtoShariabasefinancialsystem.AlargenumbersofFellow&AssociatemembersofICMABofChittagongBranchparticipatedintheprogram.ThewholeprogramwasnicelyconductedandvoteofthankstotheaudiencewasofferedbyMr.Md.MoazzamHaider,FCMA,Chairman,CPD,Training&WorkshopCommittee.



DiscussionProgramonNationalBudget2018-2019

Chattogram Branch Council of ICMABorganizedadiscussionProgramon“NationalBudget 2018-2019” on July 06, 2018 atChattogram Stock Exchange Auditorium,Agrabad,Chattogram.

Mr.S.M.AbuDaud,Member,TaxAppellateTribunal, Chattagram Bench; Chattogram

chairedthesessionwhilethetechnicalpaperonthetopicwaspresentedbyMr.Md.AbdurRahmanKhanFCMA,DeputySecretary,FinanceDivision,MinistryofFinanceandSecretaryofICMAB.QaziMerazUddinArifFCMA,Chairman,ChittagongBranchCouncilofICMABpresidedovertheProgram.

ThepaperpresenterpointedoutdifferentimportantissuesrelatedtoNationalBudget2018-2019andexplainsmajor changes made inTax Law through FinanceAct 2018. He also discussed subsequent challenges forachievingdifferenttargetsincorporatedinthebudget.TheSessionChairmanthankedCBCfororganizingtheprogram.Hesupplementedsomebudgetrelatedmatterandemphasizesoninternalrevenuegenerationanditsadequateusetoachieveoverallnationalgoal.AlargenumberofFellow&AssociatemembersofICMABofChittagongBranchparticipatedintheprogram.ThewholeprogramwasconductedbyMr.Md.MoazzamHaiderFCMA,Chairman,CPD,Training&WorkshopCommittee.

Chattogram Branch Council of TheInstitute of Cost and ManagementAccountants of Bangladesh (ICMAB)organized Class Orientation programfor the newly admitted studentsin Knowledge & Business level onSeptember 29, 2018 at CMA Bhaban,Agrabad,Chattogram.

QaziMerazUddinArifFCMA,Chairman,Chattogram Branch Council of ICMAB

presidedovertheprogramwhileMr.MohammedSalim,FCMA,President-ICMABwaspresentontheoccasionasChiefGuest.ProfessorDr.Md.Ayub Islam,Chairman,BureauofBusinessResearch,FacultyofBusinessAdministration, University of Chittagong & Mr. M. Abul Kalam Mazumdar FCMA, Vice-president, ICMABwerepresentintheprogramasspecialguests.Inhisspeech,theChiefGuesthighlymotivatestothenewlyadmitted students for their success in passing CMA for a global career & bright future.The special guestprofessorDr.MohammadAyubIslamstatedthatthedemandofprofessionalAccountantsishugeathomeandabroad.HewelcomedandcongratulatesthenewlyadmittedstudentsforchoosingCMAasaleadingprofessionalcourseinBangladesh.HethankedCBCforarrangingsuchkindofprogramtomotivatenewlyadmittedstudents.Mr.M.AbulKalamMazumdarFCMAdiscussedvariousprospectsofCMA’sinthefieldofTrade&Commerceandgavesometipsforthestudentstoachievetheirgoalintome.AlargenumbersofFellow&AssociatemembersofICMAB&studentsofChattogramBranchattendedtheprogram.ThewholeprogramwasnicelyconductedbyMr.KanchanChandraShomFCMA,Treasurer,CBC.

ClassOrientationprogramofJuly-December,2018session



Chittagong Branch Council of ICMAB arranged a professional discussion with the president on September 29, 2018 with Chattogram based members of the Institute. Mr. Mohammed Salim FCMA, President, ICMAB was present in the program as Chief Guest while Mr. M. Abul Kalam Mazumdar FCMA Past President, ICMAB attended the Program as Special Guest. Address of welcome was given by Qazi Meraz Uddin Arif FCMA, Chairman, CBC.

A good number of Fellow & Associate members of Chittagong region of the Institute attended the discussion program. Among other, Mr. M. Solaiman, FCMA, Mr. Mohammed Nurul Huda Siddiquee, FCMA, Mr. Golam Kibria, FCMA and Mr. Md. Monoarul Hoque, FCMA spoke on the occasion. They draw the attention of the Chief Guest on various issues of ICMA & Chittagong Branch Council of ICMAB. In the discussion program Chairman, CBC pointed out some important issues relating to Water Logging, education & examination and administrative systems of the Institute. The president, ICMAB assure them for his wholehearted support for the CMA profession and branding of CMA.

ChattogramBranchCouncilobservedInternationalAccountingday

On the occasion of International Accounting day, Chattogram Branch Council of ICMAB has organized a rally on November 10, 2018. The rally was led by Qazi Meraz Uddin Arif FCMA, Chairman, ICMAB Chattogram Branch Council. It was started from Finlay House, Agrabad and ended at CMA Bhaban, Chattogram. Mr. Mohammed Nazmul Hoque FCMA stated shortly regarding International Accounting Day. A large number of Members and students of the Institute participated in the rally.

On the same day Chattogram Branch Council of ICMAB organized a Speaking Contest for the students of ICMAB Chattogram Branch. The topic of the contest was “The role of Professional Accountants in the sustainable development of Bangladesh”. A good number of students participated in the contest. Mr. M Solaiman FCMA, Mr. Md. Arshad Ullah FCMA and Mr. Qazi Meraz Uddin Arif FCMA were in the Jury board. Mr. Md. Masud Rana, Mr. Md. Sumon Mia and Mr. Khondokar Abu Nayeem won the 1st, 2nd and 3rd position respectively.

Professionaldiscussionwiththepresident



Chattogram Branch Council of The Institute of Cost and Management Accountants of Bangladesh (ICMAB) organized a CPD Program on “International Trade and Customs Procedures Act and Practices” on November-14, 2018 at CMA Bhaban, Agrabad, Chattogram.

Qazi Meraz Uddin Arif, FCMA Chairman, Chattogram Branch Council presided over the program while Dr. Mohammad Abul Hossain, Professor, Department of Economics, University of Chittagong was present in the program as session chairman. The paper was presented by Kazi Muhammad Ziauddin, FCMA Additional Commissioner, Customs House, Chattogram.

The paper presenter describes the practices of Customs Act related to International Trade. He also stated some practical examples regarding the Export and Import trade for the participants. The session Chairman thanked CBC for organizing such a timely suited program and also express that this type of program can play vital role to attain sustainable growth set by the Government. A large numbers of Fellow & Associate members and senior students of ICMAB Chattogram Branch participated in the program. The whole program was nicely conducted by Mr. Md. Moazzam Haider, FCMA, Chairman, CPD, Training & Workshop Committee, CBC.

CPDProgramon“InternationalTradeandCustomsProceduresActandPractices”heldonNovember14,2018



KBC NewsStudytour2018

ICMAB Khulna Branch arranged a three-day long study tourheaded by the Chairman of Khulna Branch Council Mr. AbdulMotaleb FCMA from 1st to 3rd February 2018 at Kuakata seabeach and Sudarbans by a (3) three storied luxurious launch.Students, members, officers, staffs and their family membersabout170participantsjoinedthetour.TheparticipantsenjoyedthenaturalbeautyofKuakataseabeachandtheSundarbans.Bythistourtheycametoknowthepracticalimpactandpossibilityofthementionedplacesonournationalandglobaleconomy.

Khulna Branch Council (KBC) of ICMAB organized a ProbhatFerry on 21st February 2018 in observance of Amar Ekusheyand International Mother Language Day. In order to observetheoccasionMr.AbdulMotalebFCMA,ChairmanofKBC,Mr.S.M.ZakirHossainACMA,ViceChairman,Mr.K.M.NeamulHoqueACMA,TreasureKBC,Mr.AzizurahmanACMAandagoodnumberof students of Khulna Branch participated in the processiontowards Khulna Hadish Park Shaheed Minar and placed floralwreath to commemorate the contribution of the brave patriotswholaiddowntheirlivesforourmotherlanguage.

HomagetotheMartyrsofLanguageMovement

“Successcelebration”ofCMADecember2017ExaminationThe students of ICMAB Khulna Branch arrangeda program named “Success Celebration” on23/02/2018 at CMA Bhaban for the result of thestudents in CMA December 2017 Examination.The objective of the program was to acceleratethespeedofstudy.Adiscussionsessionwasheldamong the members and the students on studymethods and advantages of CMA profession. Acolorful cultural function and a delicious dinnerwasarrangedbythestudents.Mr.AbdulMotalebFCMA,Chairman,KBCwaspresentintheprogramasChairpersonwhileMr.S.M.ZakirHossainACMA,ViceChairman,KBC,Prof.SheikhZiaulIslamFCMA,Secretary,KBC,Mr.K.M.NeamulHoqueACMA,treasurer,KBCandagoodnumberoffellowandassociatemembersalongwithfamilymembersandthestudentswerepresentintheprogram.



Workshopon“PresentationSkill”KBCofICMABorganizedaWorkshopon“PresentationSkill; thechangemakerofCareerpath”onSaturday,10March2018at 06:30 pm at ICMAB Khulna Branch,Khulna. Mr. Md. Shozibul Islam, CEO& IELTS Trainer, LEXICON was presentin the program as keynote speaker.The program was presided over by thehonorable Chairman of KBC Mr. AbdulMotaleb FCMA. Prof. Sheikh Ziaul IslamFCMA,Secretary,Mr.K.M.NeamulHoqueACMA,Treasurer,agoodnumberoffellowand associate members and studentsof Khulna Branch were present in theworkshop.

KBCofICMABorganizedan“OrientationProgram”fornewlyadmittedstudentsofJanuary-June2018sessionand a seminar on “GOAL setting for the next generation CMA leaders” on 06 April 2018 at CMA Bhaban,Sonadanga,Khulna.TheprogramwaspresidedoverbyMr.AbdulMotalebFCMA,Chairman,KBC.HonorablePresidentofICMABMr.MohammedSelimFCMAwaspresentintheprogramasChiefGuest.Mr.M.AbulKalamMazumdar FCMA,Vice President, ICMAB, Engr. Md. Shafique Uddin, Managing Director,West Zone PowerDistributionCompanyLimited,Prof.KalipadaMajumder,Principal,AzamKhanGovt.CommerceCollegeandMr.NabaKrishnaMuniFCMA,Director,OrganizationalCapacityBuilding,USAID’sACMEActivityinBangladeshwerepresentintheprogramasSpecialGuestwhileMr.MoinuddinChowdhury(Moin),CertifiedLearningandDevelopmentProfessional(AHLC),PPAPractitioner-ThomasInternationalLeadVisionaryandChiefExecutiveOfficer,MotivationalSpeakerandAuthorSocietyforLeadershipSkillsDevelopmentwaspresentasresourceperson.Agoodnumberofmembersaswellasnewlyadmittedandseniorstudentsattendedtheprogram.

StudentOrientationandSeminaronGoalSettingfortheNextGenerationCMALeaders



The Khulna Branch Council (KBC)of ICMAB organized its “FellowshipNight-2018” at Mridha Complex,Sachibunia Moar, Khulna on 06April 2018. Honorable Presidentof ICMAB Mr. Mohammed SelimFCMA was present in the programas Chief Guest. Mr. Abdul MotalebFCMA,honorableChairman,KBCofICMAB and Company Secretary ofWest Zone Power Distribution Co.Ltd.presidedovertheprogram.Mr.M. Abul Kalam Mazumdar FCMA,Vice President, ICMAB, Engr. Md.

ShafiqueUddin,ManagingDirector,WestZonePowerDistributionCompanyLimited.Prof.KalipadaMajumder,Principal,AzamKhanGovt.CommerceCollege,Mr.NabaKrishnaMuniFCMA,honorablefellowandassociatemembers,Teachersandtheirfamilymemberswerepresentintheprogram.Mr.K.M.NeamulHoqueACMA,Secretary of KBC gave the well come address. Vote of thanks was offered by Mr. Azizur Rahman ACMA,TreasureofKhulnaBranchCouncil.

KBC of ICMAB arranged a day long Training on LEADERSHIP-“The VIP Model for Modern Leaders’’ on 07April 2018 at CMA Bhaban, Sonadanga Khulna. The program was presided over by Mr. Abdul MotalebFCMA,Chairman,KBC.TheobjectiveoftheprogramwastoincreasethebrandimageandidentityofCMAprofessioninthecorporatesectorsofKhulnaregion.HonorablePresidentofICMABMr.MohammedSelimFCMA was present in the program as Chief Guest. Mr. Naba Krishna Muni FCMA, Director, OrganizationalCapacityBuildingUSAID’sACMEActivityinBangladeshwerepresentintheprogramasspecialguestwhileMr.MoinuddinChowdhury(MOIN),CertifiedLearningandDevelopmentProfessional(AHLC),PPAPractitioner-ThomasInternationalLeadVisionaryandChiefExecutiveOfficer,MotivationalSpeakerandAuthorSocietyforLeadershipSkillsDevelopmentwaspresentasresourceperson.AgoodnumberofparticipantsfromdifferentorganizationsofKhulnazonewerepresentintheprogram.AftercompletiontheprogramhonorablepresidentofICMABandhonorableChairmanofKBCdistributetrainingcertificatetotheparticipants.TheparticipantsgavethankstotheauthorityofKBCforarrangingsuchtypeofprogram.

KBCFellowshipNight-2018

TrainingonLEADERSHIP-“TheVIPModelforModernLeaders”



KBCofICMABarrangedamotivationalprogramon“TogetherTowardsTomorrow”on27April2018atICMABKhulna Branch, Khulna followed by a colorful cultural program and a delicious dinner. Channel i khudegaanraj2013championMalihaperformedintheculturalfunctionasmainsinger.TheprogramwaspresidedoverbyMr.AbdulMotalebFCMA,Chairman,KBC.Theobjectiveoftheprogramistoincreasetherelationshipandcommitmentamongthemembersandthestudentsof the instituteregardingourvision,missionandobjectives.HonorableChairmanofKBCgaveamotivationalspeechtoencouragethestudentstobemoreattentiveattheirCMAstudy.Healsotoldthestudentsabouttheneed,valueanddemandofCMAprofessioninhomeandabroad.Agoodnumberofmembers,teachersandstudentsoftheBranchattendedandenjoyedtheprogram.

Motivationalprogramon“TogetherTowardsTomorrow”

IfterandDo’aMahfilAn Ifter and Do’a Mahfil hadbeen arranged by ICMABKhulna Branch Council onJune02,2018atCMABhaban,Sonadanga, Khulna. On theoccasion, participants prayedto Almighty Allah for thedevelopment of the CMAprofession as well as theCountry.HonorableChairmanof the Council, Mr. AbdulMotaleb FCMA; Fellow andAssociate members of thebranch, Principal of AzamKhan Govt. Com. College

alongwith his departmental heads, officer, staffs and a good number of students of Khulna Branchwerepresentintheprogram.AdiscussionwasalsoheldontheimportanceofHolyRamadan.



PromotionalprogramonCMAProfessionwithAccountingDepartmentofAKCCAnawarenessprogramonCMAProfessionwas organized by KBC of ICMAB on 26June 2018 at Accounting Department ofAzamKhanGovt.Com.College,KhulnatomotivatethestudentsregardingthevalueandneedofCMAProfessioninhomeandabroad. Head of Accounting Departmentofthecollegewaspresentintheseminarasachiefguest.Theprogramwasco-ordinatedbyMr.TarakChandDhali,AssistantProfessor,oftheCollege.Mr.AbdulMotalebFCMA,Chairman,KBCwaspresentintheprogramasakeynotespeaker.Prof.SheikhZiaulIslamFCMA,Vice-Chairman,KBC,Mr.AzizurRahmamACMA,Treasurer,KBCalsospokeontheprogram.ToprovidecompleteknowledgeaboutCMAprofessionwasthemainobjectiveoftheprogram.Agoodnumberofstudentsandteachersofthecollegewerepresentandactivelyparticipatedontheprogram.

PromotionalprogramonCMAProfessionwithMarketingDepartmentofAKCC

AnawarenessprogramonCMAProfessionwasorganizedbyKBCof ICMABon30June2018atMarketingDepartmentofAzamKhanGovt.Com.College,Khulna.HeadofMarketingDepartmentofthecollegewaspresent in theseminarasachiefguest.Theprogramwasco-ordinatebyMr.TarakChandDhali,AssistantProfessor,oftheCollege.Mr.AbdulMotalebFCMA,Chairman,KBCwaspresentintheprogramasakeynotespeaker.Prof.SheikhZiaulIslamFCMA,Vice-Chairman,Mr.K.M.NeamulHoqueACMA,Secretary,Mr.AzizurRahmamACMA,TreasurerofKBCalsospokeontheprogram.Agoodnumberofstudentsandteachersofthecollegewerepresentandactivelyparticipatedontheprogram.



CareerCounselingforCMAs’KhulnaBranchCouncil (KBC)ofICMABarrangedaseminaron Career Counseling forCMAs’ on 29 August 2018 at07:00 pm at ICMAB KhulnaBranch, CMA Bhaban,Sonadanga, Khulna. Mr. Md.Kausar Alam FCMA, CFOand Company Secretary ofShun Shing Group deliveredspeeches on how to makea better career and its’sustainabilityaskeynotespeaker.TheprogramwaspresidedoverbytheVice-ChairmanofKBC,Prof.SheikhZiaulIslamFCMAwhileMr.AzizurRahmanACMA,theTreasureofKBCdeliveredthewelcomespeech.VoteofthankswasofferedbytheSecretaryofKBC,Mr.K.M.NeamulHoqueACMA.Agoodnumberoffellow&associatemembersandstudentsofKhulnaBranchactivelyparticipatedintheprogram.

The Khulna Branch Council (KBC) of the Institute of Cost and Management Accountants of Bangladesh(ICMAB)organizeda2-dayslongExclusiveTrainingon“MSExcel2016:Application(HowtobuildFinancial/reportingmoduleusingMSExcel2016)”onSeptember14&15,2018atICMABKhulnaBranch,Khulna.Mr.Md.MahabubulAlamFCMA,FirstAssistantVicePresident,Al-ArafahIslamiBankLimitedwaspresentintheprogramas resourceperson.The trainingprogram isspecificallydesigned forRegularExcelusers,Dataanalyzers,ManagementReporters,ProjectManagers,DecisionMakers,FinancialModuleandtheProfessionalswhoareengaged to prepare periodical reports fromvarious data sources.The programwas presided over by Mr.AbdulMotalebFCMA,Chairman,KBCofICMAB.AgoodnumberofparticipantsfromdeferentorganizationofKhulnazonewerepresentintheprogram.TheparticipantsgavethankstotheauthorityofKBCforarrangingsuchtypeofprogram.

2-DayslongExclusiveTrainingonMSExcel2016:ApplicationHowtobuildFinancial/reportingmoduleusingMSExcel2016



The Cost and Management Accountants Act, 2018had been passed in the National Parliament on 29-10-201. It isagreatachievementofCMAprofession.On the glorious occasion, Khulna Branch Council(KBC)arrangeda“DiscussionsessionandDo’aMahfil”on October 30, 2018 at 06:00 pm. at ICMAB KhulnaBranch.Prof.SheikhZiaulIslamFCMA,ViceChairman,Mr.K.M.NeamulHoqueACMA,Secretary,Mr.AzizurRahman ACMA, Treasurer and a good number ofmembers,studentsandofficer/staffwerepresentontheprogram.

TheInternationalAccountantsDay-2018

KhulnaBranchCouncil(KBC)ofTheInstituteofCostandManagementAccountantsofBangladesh(ICMAB)arrangedarallytocelebrateTheInternationalAccountantsDayonNovember10,2018.TherallywasstartedfromCMABhabanpremisestowardsShahidHadishPark,KhulnawithcomplimentaryspeechofMr.AbdulMotalebFCMA,Chairman,KBC.TherallywasinauguratedbyMr.LokmanHossainMiah,HonorableDivisionalCommissioner,KhulnaDivisionwhileMr.Md.ShafiqueUddin,ManagingDirector,WestZonePowerDistributionCompany Limited, Khulna, and Prof. Kalipada Majumder, Principal, Azam Khan Govt. Commerce College,Khulnawerepresentintheoccasionasspecialguests.Prof.SheikhZiaulIslamFCMA,ViceChairman,KBC,Mr.K.M.NeamulHoqueACMA,Secretary,KBC,Mr.AzizurRahmanACMATreasurer,KBC,agoodnumberoffellowandassociatemembers,students, teachersandotherhighofficials fromdeferentorganizationsofKhulnazonewerepresentintherally.

DiscussionsessionandDo’aMahfil



ACCOUNTS AND OTHERS

Audited Annual AccountsTheAuditedAccountsoftheInstitutefortheyearended30thJune2018isenclosed.Asyouwillfind,totalRevenuereceiptisTk.13.67croreasagainstTk.12.61croreof2016-17.However,ourgrantsfromGovernmenthasincreasedbyTk.12.5lactoreachatTk.2.60crore.Additionally,wereceivedTk.7.5lacforspecialDistanceLearningManagementSystem(DLMS)whichhasbeenaddeddirectlytotheGeneralFund.DespitesignificantincreaseinemployeecostduetofullimplementationofGovernmentPayScale2015,wehaveearnedanetrevenuesurplusofTK.2.67crore,whichissignificantlyhigherthanlastyear’ssurplusoftaka1.16crore.

ThebalanceofMembers’FundforFinancialAssistance(MFFA)asonJune30,2018standsatTk.7.64lacafterdisbursementofTk.8.48lacforscholarshipandmedicalsupport.ThedetailsareprovidedinthenotestotheAccounts(note15).

Year-wise Trend of Total Revenue

682.56 713.33772.93

912.93 923.26 961.57 1005.45

1315.711261.88

1367.49

400.00

600.00

800.00

1000.00

1200.00

1400.00

1600.00

Taka (in lac)

Year-wise Growth of Government Grant

85.00

112.00 111.00 120.00 125.00145.00 147.00

197.50

247.50260.00

50.00

100.00

150.00

200.00

250.00

300.00

Taka (in lac)


ACCOUNTS AND OTHERS

Year-wise Growth of General Fund

894.801097.78

1329.82

1585.461775.30

1884.382071.64

2333.882452.82

2727.54

500.00

1000.00

1500.00

2000.00

2500.00

3000.00

Taka (in lac)

Year-wise Trend of Surplus of Income over Expenditure

252.69

192.98

232.04255.64

189.84

109.08 117.24

262.23

116.44

267.21

0.00

50.00

100.00

150.00

200.00

250.00

300.00

Taka (in lac)

Year-wise Growth of FDR

568.87772.60

873.01 950.31

1206.301404.30

1524.721712.07

1810.591986.33

50.00

550.00

1050.00

1550.00

2050.00

2550.00

Taka (in lac)


Acknowledgement

TheCouncilcandidlyacknowledgesthecollectivecooperation,sinceresupportsandactiveassistancestheesteemedmembersoftheInstitutehaverenderedforrunningtheInstituteaswellasforthedevelopmentoftheprofession.ItalsoexpressesitsgratitudetothemembersofvariousCommitteesandSub-Committeesfortheirdedicatedtime,effortandservicesindischargingtheirrespectiveresponsibilities.MemberrepresentativesoftheCouncilarealsoindebtedtotheGovernmentnomineesintheCouncilfortheircontinuedsupportandguidance.TheCouncilhasalsoexpresseditsappreciationfortheBranchCouncils(Dhaka,ChittagongandKhulna),CoachingCenters(Rajshahi,CumillaandJeshore)andOverseasChapters(Canada,KSAandUK).

TheCouncilthankfullyacknowledgethepersistentsupportithasreceivedfromvariousMinistries/Divisions(Commerce, Finance, Planning, Education, Industries, Law, Information and Communication Technology,Housing and Public Works, Internal Resources Division and Energy and Mineral Resources Division),Parliamentary Standing Committees on the Ministry of Finance and Ministry of Commerce, BangladeshSecuritiesandExchangeCommission,DhakaStockExchange,ChittagongStockExchange,BangladeshBank,ComptrollerandAuditorGeneral,NationalBoardofRevenueandtheFederationofBangladeshChambersofCommerceandIndustry.

Wearealsothankfultoouraffiliatingglobalandregionalbodies(IFAC,SAFAandCAPA)andstrategicpartnersCIMAandCIPFAforhelpingustoaccelerateourprofessionalexcellence.

TheCouncilisgratefultotheauthoritiesofCumillaGovernmentVictoriaCollegeandJeshoreCollegefortheirextendedhandinallowingtheInstitutetoconductcoachingclassesandexaminations.

TheCouncilexpressesitsheartfeltthankstotheprintandelectronicmediafortheirwidecoverageoftheInstitute’sactivities.

Lastbutnotleast,theCouncilacknowledgesthehardworkofthepersonneloftheInstituteonwhomtheresponsibility of running the Institute is entrusted. The Executive Director and some of the officials haveshownextraordinaryperformanceunderunusualpressure.TheCouncilexpectsthattheywillkeepuptheirperformancetrend.

Md. Abdur Rahman Khan FCMA Mohammed Salim FCMA

Secretary President


ANNEXURE 1

Executive Committee

1. Mr.MohammedSalimFCMA F-0218 Chairman

2. Mr.MAbulKalamMazumdar F-0103 Member

3. Mr.Md.AbdurRahmanKhanFCMA F-0305 Member

4. Prof.Dr.SwapanKumarBalaFCMA F-0328 Member

5. Mr.JamalAhmedChoudhuryFCMA F-0411 Member

6. ExecutiveDirector Secretary

Education Committee

1. Mr.ArifKhanFCMA F-0304 Chairman


3. Prof.MamtazUddinAhmedFCMA F-0191 Member

4. Mr.A.K.MDelwerHussainFCMA F-0215 Member

5. Mr.Md.JalalUddin Govt.Nominee Member

6. DeputyDirector(Edn.) Secretary

Examination Committee

1. Mr.M.AbulKalamMazumdarFCMA F-0103 Chairman

2. Mr.AbuBakarSiddiqueFCMA F-0181 Member

3. Mr.Md.MamunurRashidFCMA F-0314 Member

4. Mr.JamalAhmedChoudhuryFCMA F-0411 Member

5. Mr.Md.AminulIslamKhan Govt.Nominee Member

6. DeputyDirector(Exam.) Secretary

Research & Development Committee


2. Mr.ArifKhanFCMA F-0304 Member



5. Mr.Md.MunirulIslamFCMA F-0412 Member

6. KhondokerMostafizurRahman Govt.Nominee Member

7. AdditionalDirector(R&P) Secretary

Disciplinary Committee



3. KaziMuhammadZiauddinFCMA F-0870 Member

4. BegumShamimaYeasmin Govt.Nominee Member

5. ExecutiveDirector Secretary

LIST OF STANDING COMMITTEES


ANNEXURE 2

DETAILS OF OTHER COMMITTEESName of the Committees Chairman Vice Chairman

ProfessionalDevelopmentandAdvisoryCommittee

Mr.MuzaffarAhmedFCMA Mr.M.A.MatinFCMA

Seminar&ConferenceCommittee Mr.JamalAhmedChoudhuryFCMA Mr.Md.KausarAlamFCMA

TaxationCommittee Mr.RanjanKumarBhowmikFCMA Mr.AbdulMatinPatwaryFCMA

ActsandRegulationsReviewCommittee

Mr.SatipatiMoitraFCMA Prof.Dr.SwapanKumarBalaFCMA

JournalandPublicationCommittee Prof.Dr.SwapanKumarBalaFCMA Mr.RTarequeMoududFCMA

CorporateAwardandBrandingCommittee

Mr.MohammadAliNawazFCMA Mr.Md.MostaqurRahmanFCMA

CostAuditCommittee Mr.M.AbulKalamMazumdarFCMA Mr.Md.MumlookHossainFCMA

CostAccountingandFinancialReportingStandardsCommittee

Mr.M.AbulKalamMazumdarFCMA Mr.MizanurRahmanFCMA

StudentAffairsCommittee Mr.Md.ShafiqulAlamFCMA Mr.Mosi-ud-DaulaFCMA

AcademicAdvisoryCommittee Prof.MamtazUddinAhmedFCMA Dr.Md.SalimUddinFCMA

PlacementCommittee Mr.MohammadAlamgirFCMA Mr.BiplobAhmmedFCMA

WelfareCommittee Mr.Md.AkhteruzzamanFCMA Mr.Maruf-Ul-AzamFCMA

ICTCommittee Mr.Mohd.TajdiqulIslamFCMA Mr.Md.Harun-Ur-RashidFCMA

PublicRelationsCommittee Mr.Md.MamunurRashidFCMA Mr.JasimUddinFCMA

InfrastructureDevelopmentCommittee Mr.Md.HabibulKabirFCMA Mr.MorshedAhmedFCMA

TrainingCommittee Mr.S.M.ZahirUddinHaiderFCMA Mr.Md.MaksudurRahmanFCMA

InternalAuditandComplianceCommittee

Mr.SMZahirUddinHaiderFCMA Mr.Md.BelayetHossainFCMA

GlobalAffairsAdvisoryCommittee KaziMuhammadZiauddinFCMA Mr.Md.TouhidulAlamKhanFCMA

SAFAandInternationalRelationsCommittee

Mr.ArifKhanFCMA Mr.EliasAhmedFCMA

InternationalRecognitionandAccreditationCommittee

Mr.A.K.M.DelwerHussainFCMA Mr.MohammedJahangirAlamFCMA

CommitteeforBranchAffairs Mr.Md.MunirulIslamFCMA Mr.MojurMd.ShafiulAzamFCMA

GovernanceandAdministrativeAffairsCommittee

Mr.AbuBakarSiddiqueFCMA Mr.Md.ShafiqulIslamTalukderFCMA

CommitteeforYoungLeadershipDevelopment

Mr.NabaKrishnaMuniFCMA Mr.Md.AbdulAlimMunshiFCMA

WomenAffairsCommittee Ms.AkhtarSanjidaKasemFCMA Ms.ZinniaTanzinaHuqFCMA

ProfessionalServiceCommittee Mr.Md.MushfiqurRahmanFCMA Mr.Md.AsadChowdhuryFCMA

PublicSectorFinancialManagementAdvisoryCommittee

Mr.Md.A.K.M.JashimUddinFCMA Mr.Md.AbdurRahmanKhanFCMA


Dhaka Branch

Sl. No. Name of the Members Mem. No. Position

1. Mr.A.K.M.KamruzzamanFCMA F-0497 Chairman

2. Mr.Md.AbdusSatterSarkarFCA,FCMA F-0457 Vice-Chairman

3. Mr.Md.BakhtirAlamFCMA F-0723 Secretary

4. Mr.SafiulAzamFCMA F-0924 Treasurer

Chittagong Branch


1. QaziMerazUddinArifACCA,FCMA F-0554 Chairman

2. Mr.Md.MoazzamHaiderFCMA F-0513 Vice-Chairman

3. Mr.MohammadSaifulIslamFCMA F-0721 Secretary

4. Mr.KanchanChandraShomFCMA F-0635 Treasurer

Khulna Branch


1. Mr.AbdulMotalebFCMA F-0877 Chairman

2. Prof.SheikhZiaulIslamFCMA F-0911 Vice-Chairman

3. Mr.K.M.NeamulHoqueACMA A-1197 Secretary

4. Mr.AzizurRahmanACMA A-1359 Treasurer

Canada Chapter


1. Mr.AbuTarequeACMA A-0196 Chairman

2. Mr.NayeemAliKadriACMA A-0482 Vice-Chairman

3. Mr.NaeemulAzeezRahmanACMA A-0480 Secretary

4. Mr.TanveerAhmedWaresFCMA F-0873 Treasurer

UK Chapter


1. Mr.Md.KamalUddinFCMA F-0763 Chairman

2. Mr.Md.RazzakHossainFCMA F-0451 Vice-Chairman

3. Mr.MohammadAliFCMA F-0602 Secretary

4. Mr.S.M.KhairulIslamACMA A-1159 Treasurer

KSA Chapter


1. Mr.Md.AbulHossainBhuiyanFCMA F-0136 Chairman

2. Mr.Md.NurulAminFCMA F-0524 Vice-Chairman

3. Mr.A.K.M.ShahAlamMeahFCMA F-0424 Secretary

4. Mr.Md.HabiburRahmanACMA A-884 Treasurer

ANNEXURE 3

OFFICE BEARERS OF BRANCH AND CHAPTER COUNCILS


Council Meetings:

Sl. No

Name of the CouncilorsNumber of Council Meeting Attended

01 Mr.MohammedSalimFCMA 06

02 Mr.M.AbulKalamMazumdarFCMA 05

03 Mr.ArifKhanFCMA 03

04 Mr.Md.AbdurRahmanKhanFCMA 05

05 Prof.Dr.SwapanKumarBalaFCMA 05

06 Mr.AbuBakarSiddiqueFCMA 05

07 Prof.MamtazUddinAhmedFCMA 04

08 Mr.A.K.M.DelwerHussainFCMA 04

09 Mr.Md.MamunurRashidFCMA 03

10 Mr.JamalAhmedChoudhuryFCMA 03

11 Mr.Md.MunirulIslamFCMA 04

12 Mr.KaziMuhammadZiauddinFCMA 02

13 BegumShamimaYeasmin 03

14.Mr.Md.JalalUddin/Mr.Md.EkhlasurRahman

04/01

15KhondokerMostafizurRahman/Mr.AkramulHaque

01/04

16Mr.Md.AminulIslamKhan/Mr.AbdullahAlMamun

03/01

Executive Committee

Sl. No

Committee MembersNumber of

Meeting Attended

1. Mr.MohammedSalimFCMA 05

2. Mr.MAbulKalamMazumdarFCMA 04

3. Mr.Md.AbdurRahmanKhanFCMA 04

4. Prof.Dr.SwapanKumarBalaFCMA 03

5. Mr.JamalAhmedChoudhuryFCMA 02

Education Committee

Sl. No


Meeting Attended

1. Mr.ArifKhanFCMA 02


3. Prof.MamtazUddinAhmedFCMA -

4. Mr.A.K.MDelwerHussainFCMA -

5. Mr.Md.JalalUddin 02

Examination Committee

Sl. No


Meeting Attended

1.Mr.M.AbulKalamMazumdarFCMA

05

2. Mr.AbuBakarSiddiqueFCMA 04

3. Mr.Md.MamunurRashidFCMA 04

4. Mr.JamalAhmedChoudhuryFCMA 01

5. Mr.Md.AminulIslamKhan 02

Research & Development Committee

Sl. No


Meeting Attended

1. Mr.MohammedSalimFCMA 02

2. Mr.ArifKhanFCMA -

3. Mr.Md.AbdurRahmanKhanFCMA 01


5. Mr.Md.MunirulIslamFCMA 02

6.KhondokerMostafizurRahman/Mr.AkramulHaque

0/1

ANNEXURE 4

ATTENDANCE RECORDS OF COUNCILORS

STANDING COMMITTEES


Other Committees Meetings:

Name of the Committee Number of Meeting Held

ProfessionalDevelopment&AdvisoryCommittee 01

Seminar&ConferenceCommittee 02

TaxationCommittee 02

ActsandRegulationsReviewCommittee 01

JournalandPublicationCommittee 02

CorporateAwardandBrandingCommittee 03

CostAuditCommittee 02

CostAccountingandFinancialReportingStandardsCommittee 04

StudentAffairsCommittee 03

AcademicAdvisoryCommittee -

PlacementCommittee -

WelfareCommittee 03

ICTCommittee 06

PublicRelationsCommittee -

InfrastructureDevelopmentCommittee 01

TrainingCommittee 01

InternalAuditandComplianceCommittee -

GlobalAffairsAdvisoryCommittee -

SAFAandInternationalRelationsCommittee -

InternationalRecognitionandAccreditationCommittee -

CommitteeforBranchAffairsCommittee -

GovernessandAdministrativeAffairsCommittee 01

CommitteeforYoungLeadershipDevelopment 03

WomenAffairsCommittee -

ProfessionalServiceCommittee 01

PublicSectorFinancialManagementAdvisoryCommittee 02

ANNEXURE 4


AUDITED ACCOUNTS FOR THE YEAR ENDED

JUNE 30, 2018


Auditors’ Report to the Membersof

The Institute of Cost and Management Accountants of Bangladesh (ICMAB)Report on the Financial Statements We have audited the accompanying Financial Statements of The Institute of Cost and ManagementAccountantsofBangladesh(ICMAB),whichcomprisetheStatementofFinancialPositionasatJune30,2018andtheStatementofProfitorLossandOtherComprehensiveIncome,StatementofChangesinFundandStatementofCashFlowsfortheyearendedonthatdate,andasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation.

Management’s Responsibility for the Financial StatementsManagement is responsible for the preparation and fair presentation of these financial statementsin accordance with Bangladesh Financial Reporting Standards (BFRS) and for such internal control asmanagementdeterminesisnecessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.

Auditors’ ResponsibilityOurresponsibilityistoexpressanopiniononthesefinancialstatementsbasedonouraudit.WeconductedourauditinaccordancewithBangladeshStandardsonAuditing(BSA).Thesestandardsrequirethatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreefrommaterialmisstatement.

Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthefinancialstatements.Theproceduresselecteddependontheauditors’judgment,includingtheassessmentoftherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror. Inmakingthoseriskassessments,weconsiderinternalcontrolrelevanttotheentity’spreparationandfairpresentationofthefinancialstatementsinordertodesignauditproceduresthatareappropriateinthecircumstances,butnotforthepurposeofexpressinganopinionontheeffectivenessoftheentity’sinternalcontrol.Anauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesmadebymanagement,aswellasevaluatingtheoverallpresentationofthefinancialstatements.

Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.

OpinionInouropinion,thefinancialstatementsreferredtoabovegiveatrueandfairviewofthestateoftheaffairsoftheInstituteasofJune30,2018andoftheresultsofitsperformanceandcashflowsfortheyearthenended.

We also report that:

a) Wehaveobtainedall the informationandexplanationswhichtothebestofourknowledgeandbeliefwerenecessaryforthepurposeofourauditandmadedueverificationthereof;

b) Inouropinion,properbooksofaccountasrequiredhavebeenkeptbytheInstitutesofarasitappearedfromourexaminationofthosebooks;and

c) TheStatementofFinancialPositionandStatementofProfitorLossandOtherComprehensive Incomedealtwithbythereportareinagreementwiththebooksofaccount.

(J. U. Ahmed & Co.)

CharteredAccountants

Dated:November 15, 2018

Dhaka

AUDITORS’ REPORT TO THE MEMBERS


The Institute of Cost and Management Accountants of Bangladesh (ICMAB)ICMA Bhaban, Nilkhet, Dhaka

Statement of Financial PositionAsatJune30,2018

Notes 30-06-2018

Taka 30-06-2017

Taka Assets

Non-current AssetsProperty, plant and equipment 4 71,609,389 66,368,000

Intangible Assets (ERP software and Website) 4.1 2,468,900 1,907,205

74,078,289 68,275,205

Capital Work in Progress 5 7,972,290 23,000

82,050,579 68,298,205

Current AssetsCash and bank balances 6 11,413,761 15,375,934

Investment for Gratuity 7 51,186,496 42,250,634

Short term investments (FDR) 8 150,624,719 141,235,183

Advances, deposits and pre-payments 9 5,919,025 6,229,540

Receivables 10 9,336,510 2,519,219

Inventories 11 776,682 622,923

229,257,193 208,233,433

Total Assets 311,307,772 276,531,638

Funds and Liabilities

General Fund 12 272,754,634 245,282,784

Long-term LiabilitiesProvision for Gratuity 13 32,186,157 25,449,153

Scholarship Fund 14 - 175,000

Members Fund for Financial Assistance (MFFA) 15 764,744 1,071,315

ICMAB Employees Welfare Fund 16 910,799 360,982

33,861,700 27,056,450

Current LiabilitiesSecurity deposits 987,452 821,940

Library caution money 476,205 436,205

Payables and accruals 17 3,125,374 2,746,108

Receipts in advance 18 102,407 188,151

4,691,438 4,192,404

Total Funds and Liabilities 311,307,772 276,531,638

Treasurer Secretary President

As per our report of same date

(J. U. Ahmed & Co.)Chartered Accountants

Dated: November 15, 2018Dhaka

STATEMENT OF FINANCIAL POSITION

Theannexednotes1to36formanintegralpartofthesefinancialstatements.



Statement of Profit or Loss and Other Comprehensive IncomeFortheyearendedJune30,2018

Notes 2017 - 2018

Taka 2016 - 2017

Taka A. Income

Fees from members 19 6,249,800 4,030,460

Subscriptions and fees from students 20 82,147,350 74,248,370

Government grant 21 26,000,000 24,750,000

Interest income 22 10,205,433 10,366,894

Rental income 23 110,250 270,900

Other income 24 12,023,239 12,448,660

Surplus/(Deficit) from sale of Fixed Assets 25 13,805 73,345

136,749,877 126,188,629

B. ExpenditureEmployee cost 26 57,536,319 58,528,160

Occupancy cost 27 8,801,370 6,864,689

General and Administrative expense 28 8,848,945 8,680,102

Students Education expense 29 10,425,118 12,361,187

Examination expense 30 4,494,382 5,587,372

Post Qualifying Education expense 31 2,098,629 2,172,114

Members Activity expense 32 1,690,000 1,853,000

Seminar and Conference expense 33 8,053,912 9,968,304

Research and Development expense 34 7,37,663 1,667,187

Journal Publication expense 35 1,582,196 1,960,666

Depreciation and Amortization 36 5,759,493 4,901,473

110,028,027 114,544,254

C. Surplus of income over expenditure for

the year transferred to General Fund (A-B) 26,721,850 11,644,375





STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME




Statement of Changes in FundFortheyearendedJune30,2018

Particulars General Fund Excess of Income Over Expenditure

Total

Balance as at July 01, 2017 245,282,784 - 245,282,784

Net Income earned during the year - 26,721,850 26,721,850

Government grant for DLMS 750,000 - 750,000

Excess of Income over Expenditure 26,721,850 ( 26,721,850) -

Balance as at June 30, 2018 272,754,634 - 272,754,634

Balance as at July 01, 2016 233,388,409 - 233,388,409

Net Income earned during the year - 11,644,375 11,644,375

Government grant for DLMS 750,000 750,000

Investment in BICM adjusted (500,000) (500,000)

Excess of Income over Expenditure 11,644,375 (11,644,375) -

Balance as at June 30, 2017 245,282,784 - 245,282,784





STATEMENT OF CHANGES IN FUND



Statement of Cash FlowsFortheyearendedJune30,2018

Particulars 2017 - 2018

Taka 2016 - 2017

Taka

Cash flows from Operating ActivitiesSurplus of Income over Expenditure for the year 26,721,850 11,644,375

Depreciation and Amortization 5,759,493 4,901,473

Provision for Gratuity 6,737,004 552,700

Scholarship Fund (175,000) -

Members Fund for Financial Assistance (MFFA) (306,571) 669,409

ICMAB Employees Welfare Fund 549,817 360,982

Changes in Working CapitalInvestment for Gratuity (8,935,862) (2,779,742)

Short term investments (9,389,536) (7,374,934)

Advances, deposits and prepayments 310,515 (1,572,304)

Receivables (6,817,291) 3,133,434

Inventories (153,759) 344,199

Payables and accruals 379,266 (927,278)

Receipts in advance (85,744) (17,571)

Library caution money 40,000 (310,793)

Security deposits 165,512 389,392

Net cash flows from Operating Activities 14,799,694 9,013,342

Cash flows from Investing ActivitiesAcquisition of property, plant and equipment (10,421,297) (11,294,530)

Acquisition of intangible assets (1,147,400) (2,227,300)

Capital Work in progress (7,949,290) 5,159,860

Sale proceeds of assets 6,120 5,998

Net cash flows from Investing Activities (19,511,867) (8,355,972)

Cash flows from Financing ActivitiesGovernment grant for Distance Learning Management System (DLMS) 750,000 750,000

Net cash flows from Financing Activities 750,000 750,000

Net increase/(decrease) in cash and bank balances (3,962,173) 1,407,370

Cash and bank balances at the beginning of the year 15,375,934 13,968,564

Cash and bank balances at the end of the year 11,413,761 15,375,934

Treasurer Secretary PresidentAs per our report of same date




STATEMENT OF CASH FLOWS



Notes to the Accounts For the year ended June 30, 2018

1 Reporting entity TheInstituteofCostandManagementAccountantsofBangladesh(ICMAB) isthenationalbodyofthe

CostandManagementAccountantsofBangladesh.TheInstituteisastatutoryorganizationconstitutedbytheGovernmentofBangladeshundertheCostandManagementAccountantsAct-2018(ActNo.70of2018)andisregulatedundertheCostandManagementAccountantsRegulations,1980(Asamendeduptodate).TheInstituteisanautonomousprofessionalbodyundertheMinistryofCommerceandistheonlyinstitutededicatedtoCostandManagementAccountingeducationandresearchinBangladesh.

2 Principal Activities TheInstitute’smissionistodevelop,equipandpromoteCostandManagementAccountingprofession

bymaintaininghighestprofessionalstandardsofitsmembersinordertoenablethemtoprovidebetterservicestothesociety.

TheInstituteisalsoentrustedwiththeformulationandimplementationofNationalAccountingaswellasCostAccountingStandardsandtakesothernecessarystepswithaviewtoregulatingtheCostandManagementAccountingprofessioncommensuratewithglobalstandardswiththeultimateobjectiveofdevelopingBangladesh’shumanandnaturalresourcestoensurecommonwelfareandtoenrichsharedfuture.

3 Summary of Significant Accounting Policies The accounting policies set out below will be applied consistently to all periods presented in these

financialstatements.

3.1 Accounting basis and conventionTheaccountshavebeenprepared,consistentlyapplyingGenerallyAcceptedAccountingPrinciples(GAAP)underthehistoricalcostconvention.

3.2 Property, plant and equipment3.2.1 Recognition and Measurement

Thecostofanitemofproperty,plantandequipment(fixedassets)isrecognizedasanasset,ifandonlyifitisprobablethatfutureeconomicbenefitsassociatedwiththeitemwillflowtotheentityandthecostoftheitemcanbemeasuredreliably.

Property,plantandequipmenthavebeenaccountedforatcostlessaccumulateddepreciation.Costincludesexpenditurethatisdirectlyattributabletotheacquisitionoftheitems.

Subsequentcostofenhancementofanexistingassetisrecognizedasaseparateasset,onlywhenitisprobablethatfutureeconomicbenefitsassociatedwiththeitemcanbemeasuredreliably.AllotherrepairandmaintenancearechargedtotheStatementofProfitorLossandOtherComprehensiveIncomeduringtheaccountingperiodinwhichtheyareincurred.

3.2.2 Depreciation on fixed assetsi) Depreciation on fixed assets has been charged on straight line method. Full year’s

depreciationhasbeenchargedontheassetsacquiredduringfirsthalfoftheaccountingyear,whilenodepreciationhasbeenchargedontheassetsacquiredduringthesecondhalfoftheaccountingyearaswellasonassetsdisposedoff.

NOTES TO THE ACCOUNTS


ii) Depreciation/amortizationhasbeencalculatedatthefollowingrates:

Types of AssetsRate of

depreciation/amortization (%)

LeaseholdlandinDhakaLeaseholdlandinChittagong,KhulnaandRajshahi

3.33%1.00%

Building:i)Mainbuildingii)Prayerhall

2.50%10%

Officeequipment:i)Computerii)Otherofficeequipment

30%15%

FurnitureandfixturesLibrarybooksMotorcar

10%10%20%

3.2.3 Intangible assetsIntangible assets are carried at cost less any accumulated amortization and impairmentlosses,ifany.Thecostofintangibleassetisamortizedovertheirestimatedusefullives,usingthestraightlinemethod.Amortizationischargedfromthemonththeassetsareavailableforuseattherateof15%perannum.

3.3 Inventory valuationInventoryhasbeenvaluedatcost.

3.4 Government Grant

ThegrantreceivedfromtheGovernmentofBangladeshhasbeenrecognizedasincomeandshownin theStatementofProfitorLossandOtherComprehensive Incomeas thegrantwasallowedtomeetrevenuedeficit.

3.5 Revenue recognition

a) Subscriptionandfeesfrommembershavebeenaccountedforonaccrualbasis.b) Subscriptionandfeesfromstudentshavebeenaccountedforoncashbasis.c) Interestonbankdepositshasbeenaccountedforonaccrualbasis.

3.6 General

i) PhysicalverificationofFixedAssetsandInventoryitemsof ICMABHeadOfficeandChittagongBranchofficeweretakenbyaJointInventoryCommitteecomprisingofmembersfromAuditFirmandtheInstitute.

ii) FigureshavebeenroundedofftothenearestTaka.iii) Previousyear’sfigureshavebeenrearranged,whereverconsiderednecessary,inordertoconform

tocurrentyear’spresentation.



30-06-2018 Taka

30-06-2017 Taka

4. Property, plant and equipment

Balance as on July 01 136,326,238 125,084,519

Add: Purchased/Transferred during the year 10,421,297 11,294,530

146,747,535 136,379,049

Less: Adjustment/disposal during the year 207,927 52,811

146,539,608 136,326,238

Less: Accumulated depreciation as on July 01 69,958,238 65,472,923

Depreciation during the year 5,173,788 4,532,128

75,132,026 70,005,051

Less: Adjustment/Disposal during the year 201,807 46,813

74,930,219 69,958,238

Balance as on June 30 71,609,389 66,368,000

4.1 Intangible Assets (ERP software & Website)


Add: Transferred during the year 1,147,400 2,227,300

3,904,700 2,757,300

Less: Amortization as on July 01 850,095 480,750

Amortization during the year 585,705 369,345

1,435,800 850,095


The details of above balance have been shown in Annexure - 1 and Annexure - 2 at pages 156 and 157 of the report.

5. Capital Work in Progress

Balance as on July 01 23,000 5,182,860

Add: Software development work (ERP) 235,000 781,000

Consultancy fee of Rajshahi Building 130,426 23,000

Dhaka building renovation work 10,637,257 -

Chattogram building renovation work 409,775 -

Land 1,500,000 2,156,350

12,935,458 8,143,210

Less: Transferred to Building-Dhaka 4,553,393 5,892,910

Transferred to Building-Chattogram 409,775 -

Transferred to ERP Software and Website - 2,227,300

4,963,168 8,120,210

Balance as on June 30 7,972,290 23,000



30-06-2018 Taka

30-06-2017 Taka

6. Cash and bank balances

Cash in hand 182,000 162,000

Balance with current deposits 4,361,703 2,334,324

Balance with savings deposits 199,261 194,500


Balance with saving deposits - Members Fund for Financial Assistance (MFFA) 764,744 1,071,315

Short term deposits 4,995,254 11,252,813

11,413,761 15,375,934

7. Investment for Gratuity

Fixed deposit with bank 48,008,810 40,134,975

Savings deposit with bank 3,177,686 2,115,659

51,186,496 42,250,634

8. Short term investment (FDR)

Fixed deposits with bank 150,624,719 140,924,931

Fixed deposits with bank (Scholarship Fund) - 310,252

150,624,719 141,235,183

The amount of FDR has been transferred to Scholarship Fund Account as Scholarship Fund has been separated from ICMAB Accounts during the year under audit.

9. Advances, deposits and pre-payments

Advance against expenses 2,478,814 3,127,153

Advance against TA and DA 1,931,760 1,880,266

Deposits and pre-payments 1,508,451 1,222,121

5,919,025 6,229,540

10. Receivables

Receivable from members 6,511,360 1,909,219

Interest Receivable on FDR 2,435,150 -

Other receivable (Scholarship) 390,000 610,000

9,336,510 2,519,219

This year the amount received from the Membership Fee was less during the year under audit as compared to the previous year.

11. Inventories

Stock and store consumable 203,306 148,098

Saleable stock 573,376 474,825

Dhaka 373,369 274,818

Chittagong 84,124 84,124

Rajshahi 41,216 41,216

Khulna 49,487 49,487

Comilla 25,180 25,180

776,682 622,923



30-06-2018 Taka

30-06-2017 Taka

12. General Fund


Add: Excess of Income over Expenditure for the year 26,721,850 11,644,375

272,004,634 245,032,784

Add: Government grant for Distance Learning

Management System (DLMS) 750,000 750,000

272,754,634 245,782,784

Less: Prior year's adjustment - Investment in BICM adjusted - 500,000


ICMAB received Government grant in the amount of Tk. 750,000 for Distance Learning Management System (DLMS) during the year under audit for developing students and members about e-learning management system. The grant will be utilized to procure computer and software as per terms and conditions of the Government.

13. Provision for Gratuity


Add: Provision made during the year 6,737,004 6,834,960

32,186,157 31,731,413

Less: Paid during the year - 6,282,260


14. Scholarship Fund

Scholarship - 175,000

Scholarship Fund has been separated from ICMAB Accounts during the year under audit.

15. Members Fund for Financial Assistance (MFFA)


Add: Members compulsory subscription 83,500 1,134,000

Donation from members 300,000 201,800

Transferred from members meeting fee 131,010 114,500

Bank interest (Net) 26,919 5,109

1,612,744 1,857,315

Less: Paid during the year

Deceased members children scholarship 648,000 336,000

Financial assistance to members 200,000 450,000

848,000 786,000

Balance as on June 30 764,744 1,071,315

Monthly scholarship was paid to nine students and an amount of Tk.200,000/- has been given, during the year under audit, from the “Members’ Fund for Financial Assistance (MFFA)” to partially support the treatment cost of the daughter of one of our Fellow Members who was critically injured by electification burning.



30-06-2018 Taka

30-06-2017 Taka

16. ICMAB Employees Welfare Fund

Balance as on July 01 360,982 -

Add: Employees and employer contribution 533,241 360,982

Bank interest (Net) 16,576 -

Balance as on June 30 910,799 360,982

The Council of ICMAB in its meeting held on April 19, 2017 revoked Group Insurance Policy and instead established ‘ICMAB Employees Welfare Fund’ to provide direct financial assistance to the employees or their family members at the time of needs.The amount equivalent to insurance premium, i.e., 1.66% of basic pay of employees has been transferred to the Fund during the year under audit.

17. Payables and accruals

Accrued expenses

Employees cost 159,112 181,427

Occupancy cost 967,985 806,904

General and admin expense 77,184 769,724

Student education expense 554,144 102,674

Examination expense - 129,600

Journal publication expense 19,800 284,373

1,778,225 2,274,702

Students scholarship 224,601 24,601

17.1 Other (Liabilities) 1,122,548 446,805

3,125,374 2,746,108

17.1 Other (Liabilities)

VAT payable 399,381 95,801

Income tax payable 471,391 295,504

Others (Revenue stamp, training, MFFA meeting fee & EWF contribution etc) 251,776 55,500

1,122,548 446,805

18. Receipts in advance

Fees for membership - 23,140

Annual membership fees 102,407 165,011

102,407 188,151




2017-2018 Taka

2016-2017 Taka

19. Fees from membersAdmission fees 199,500 429,000

Annual membership fees 5,691,100 3,322,060

Fees from Certificate of Practice 359,200 279,400

6,249,800 4,030,460

20. Subscriptions and fees from studentsTuition fees 7,134,200 7,770,500

Admission fees 22,420,000 21,600,000

Registration fees 10,751,000 11,184,000

Correspondence course fees 17,452,700 14,954,300

Examination and exemption fees 15,428,500 12,094,050

Annual subscriptions 7,370,650 5,242,320

Library card fees 634,800 553,000

Identity card fees 418,800 440,400

Students welfare 327,200 216,200

Testimonial fees 19,500 21,600

Internship fees 190,000 172,000

82,147,350 74,248,370

21. Government grantGovernment grant 26,000,000 24,750,000

22. Interest incomeInterest on FDRs 9,961,026 9,911,985

Bank interest 244,407 454,909

10,205,433 10,366,894

23. Rental incomeAuditorium rent 24,000 134,000

Class room rent 49,250 121,500

Space rent 37,000 15,400

110,250 270,900

24. Other incomeAdvertisement income (Semi. & Conf., CPD, Sponsor, etc.) 7,825,457 7,191,516

Profit from sale of saleable items 2,369,953 2,127,192

Fees from seminar and conference - 390,000

Income from photocopies - 17,477

Fees from workshop, CPD programme 74,200 282,500

Fine and late fees 1,399,596 1,466,198

24.1 Miscellaneous income 354,033 973,777

12,023,239 12,448,660



2017-2018 Taka

2016-2017 Taka

24.1 Miscellaneous income

Training fees from member 109,990 317,500

Training fees from non-member - 380,000

Sale of tender schedule, newspapers, old wastage papers etc. 45,953 26,827

Adjustment of library caution money - 249,450

Member’s certificate 50,000 -

Fees for recruitment test for Jibon Bima Corporation 40,000 -

Students conference fees 13,700 -

Reimbursement for furniture purchase 50,000 -

Other income 44,390 -

354,033 973,777

25. Surplus/(Deficit) from sale of Fixed AssetsCost price 207,927 52,811

Less: Accumulated depreciation 201,807 46,813

Book value 6,120 5,998

Sale proceeds 19,925 79,343

Less: Book value 6,120 5,998

13,805 73,345

26. Employee costSalaries and allowances 40,650,990 41,902,709

Overtime 2,019,064 2,530,540

Dress and uniform 70,000 72,000

Gratuities 6,737,004 6,834,960

Bonus and Nababarsha allowance 4,432,547 4,290,075

Employer's contribution to Provident Fund 2,299,629 2,244,070

Incidental expenses 102,114 292,824


26.1 Recreation leave 691,730 -

57,536,319 58,528,160

26.1 The amount was paid to the employees against Rest and Recreation Leave Allowance.

27. Occupancy costRent, rates and taxes 352,107 355,134

Electricity, gas and water charges 2,601,720 2,546,650

Repairs and maintenance 2,251,973 1,412,693

Property insurance 140,873 152,524

Security and cleaning 3,454,697 2,397,688

8,801,370 6,864,689

Security and cleaning cost has increased significantly due to the implementation of pay scale of Bangladesh Ansar as per Government circular.



2017-2018 Taka

2016-2017 Taka

28. General and Administrative expensePrinting and stationery 1,392,416 2,066,107

Motor car expense 410,440 322,997

Traveling and conveyance 392,104 363,835

Postage, telephone and courier 1,690,112 1,902,846

Meeting expense 1,670,619 1,490,874

Advertisement 71,558 6,000

Audit fees 80,000 75,000

International relations 1,828,939 575,467

Legal and professional charges 65,000 16,500

Bank charges 128,295 498,385

Employees' welfare 242,000 272,817

Generator fuel and maintenance 604,118 423,136

Training and development 26,500 104,835

28.1 Miscellaneous expense 246,844 561,303

8,848,945 8,680,102

28.1 Miscellaneous expense

DBC election, 2017 150,000 -

Crests and Mementoes - 147,650

Video documentary of ICMAB 70,000 -

Council Election Commissioner Honorarium - 383,000

Promotion exam, Rajuk's App. form expenses etc. 26,844 -

Gown washing & gazette notification expense - 30,653

246,844 561,303

29. Students Education expenseHonorarium to lecturers 6,074,200 7,846,010

Correspondence course expense 87,000 300,000

Printing and stationery 850,046 987,959

Advertisement 1,872,742 1,965,614


Meeting expense 916,170 621,380

Newspapers and periodicals 95,768 107,602

Students welfare expense 133,049 138,000

Library photocopy expense - 3,250

10,425,118 12,361,187

As the number of classes was less than the preceding year, the honorarium to lecturers has decreased.



2017-2018 Taka

2016-2017 Taka

30. Examination expenseHonorarium to Examiners and Question Setters 2,513,896 2,967,139

Invigilation expense 1,192,557 1,404,116





4,494,382 5,587,372

31. Post Qualifying Education expenseHonorarium to Faculty Member 125,000 382,500

Entertainment 943,765 775,211




Gift and presentation 249,080 173,701

2,098,629 2,172,114

32. Members Activity expense(Details in Annexure - A, B & C)

Dhaka Branch Council 814,000 740,000

32.1 Chattogram Branch Council 766,000 1,013,000

Khulna Branch Council 110,000 100,000

1,690,000 1,853,000

32.1 Chattogram Branch Council

Donation from ICMAB National Council 266,000 363,000

Special grant for Seminar, CBC Fellowship Night, Picnic etc. 500,000 650,000

766,000 1,013,000

33. Seminar and Conference expenseInternational 2,907,539 1,544,185

Local 5,146,373 8,424,119





33.1 Entertainment expense 2,605,689 5,354,051

Gift and presentation 316,580 555,500

Cultural function and others 905,000 819,250

8,053,912 9,968,304



2017-2018 Taka

2016-2017 Taka

33.1 Entertainment expense

ICMAB Best Corporate Award-2016 2,266,994 2,685,990

Convocation - 2,614,061

Cost audit workshop - 54,000

Recent developments in the field of Mgt. Actg. & Corp. Reporting 146,695 -

Program for newly qualified CMA 100,000 -

Presidential dinner 92,000 -

2,605,689 5,354,051

34. Research and Development expense34.1 Administrative expense 565,724 1,154,562

34.2 Cost Audit Committee/Implementation expense 171,939 512,625

737,663 1,667,187

34.1 Administrative expense

Printing cost of BCAS (V-ii) 238,829 647,361

Meeting & Cost Audit Workshop program 255,505 428,855

Cost of Young Leadership program 71,390 78,346

565,724 1,154,562

34.2 Cost Audit Committee/Implementation expense

Hotel rent for foreign delegates - 100,949

Honorarium to Research Fellow - 102,710

Honorarium for drafting BCAS (V-ii) - 308,966

Printing of IFAC hand book 171,939 -

171,939 512,625

35. Journal Publication expenseHonorarium to script writers 89,400 157,230

Honorarium to editor 135,440 144,000

Printing and stationery 1,301,318 1,592,694



1,582,196 1,960,666

36. Depreciation and AmortizationDepreciation on building 1,758,767 1,744,831

Amortization on leasehold land 51,147 51,147

Depreciation on furniture and fixture 1,072,266 1,011,714

Depreciation on office equipment 1,454,745 1,039,054

Depreciation on vehicles 534,793 534,793

Depreciation on library books 223,943 150,589

Depreciation on Lift 78,127 -

Amortization on Intangible Assets (ERP software & Website) 585,705 369,345

5,759,493 4,901,473


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, pla

nt a

nd

eq

uip

men

tA

so

nJ

un

e3

0,2

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ticu

lars

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ST

DE

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EC

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ION

/AM

OR

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tten

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own

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e as

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n J

un

e 30

, 20

18

Bal

ance

as

on

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ly 0

1,

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itio

n

du

rin

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e ye

ar

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uri

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the

year

Bal

ance

as

on

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ne

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018

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ance

as

on

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ly 0

1,

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Ch

arge

d

du

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e ye

ar

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just

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t/

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po

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uri

ng

the

year

Bal

ance

as

on

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ne

30, 2

018

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aT

aka

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aka

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aka

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a

Leas

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d la

nd in

Dha

ka 1

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ing

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(Tw

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nit)

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5

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ary

book

s 5

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7

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50

186

,853

5

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,336

4

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,816

2

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43

180

,734

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9

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11

Furn

iture

and

fixt

ure

15,

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914

876

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-

1

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0 8

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1

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-

9

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6

,609

,811

Com

pute

r an

d of

fice

equi

pmen

t 2

7,65

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3 2

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,123

-

3

0,03

7,48

6 2

2,68

2,35

5 1

,454

,745

-

2

4,13

7,10

0 5

,900

,386

2017

- 2

018

13

6,32

6,23

8 1

0,42

1,29

7 2

07,9

27

14

6,53

9,60

8 6

9,95

8,23

8 5

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,788

2

01,8

07

74

,930

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09,3

89

2016

- 2

017

12

5,08

4,51

9

11,2

94,5

30

52,

811

13

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6,23

8 6

5,47

2,92

3

4,53

2,12

8

46,8

13

69

,958

,238

66,3

68,0

00

ANNEXURE - 1


An

ne

xure

- 2

The

Inst

itute

of C

ost a

nd M

anag

emen

t Acc

ount

ants

of B

angl

ades

h (IC

MA

B)IC

MA

Bh

ab

an

, Nilk

het

, Dh

aka

Sch

edu

le o

f In

tan

gib

le A

sset

s (E

RP

soft

wa

re &

Web

site

)A

so

nJ

un

e3

0,2

018

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ticu

lars

CO

ST

AM

OR

TIZ

AT

ION

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tten

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own

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alu

e as

o

n J

un

e 30

, 20

18

Bal

ance

as

on

Ju

ly 0

1,

2017

Add

itio

n

du

rin

g th

e ye

ar

Ad

just

men

t/

Dis

po

sal d

uri

ng

the

year

Bal

ance

as

on

Ju

ne

30, 2

018

Bal

ance

as

on

Ju

ly 0

1,

2017

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arge

d

du

rin

g th

e ye

ar

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t/

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po

sal d

uri

ng

the

year

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ance

as

on

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ne

30, 2

018

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aT

aka

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aka

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aka

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aka

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a

Inta

ngib

le A

sset

s

(ER

P so

ftw

are

& W

ebsi

te)

2,7

57,3

00

1,1

47,4

00

-

3,9

04,7

00

850

,095

5

85,7

05

-

1,4

35,8

00

2,4

68,9

00

2017

- 2

018

2,7

57,3

00

1,1

47,4

00

-

3,9

04,7

00

850

,095

5

85,7

05

-

1,4

35,8

00

2,4

68,9

00

2016

- 2

017

530

,000

2

,227

,300

-

2

,757

,300

4

80,7

50

369

,345

-

8

50,0

95

1,9

07,2

05

ANNEXURE - 2



Statement of Budget VarianceFortheyearendedJune30,2018

A. Income Notes Budget

Taka Actual

Taka

Variance Fav. (Unfav.)

Taka

% Fav. (Unfav.)

Fees from members 19 6,186,000 6,249,800 63,800 1.03

Subscriptions and fees from students 20 84,464,222 82,147,350 (2,316,872) (2.74)

Government grant 21 26,000,000 26,000,000 - -

Interest income 22 9,065,070 10,205,433 1,140,363 12.58

Rent 23 132,300 110,250 (22,050) (16.67)

Other income 24 8,321,719 12,023,239 3,701,520 44.48

Surplus/(Deficit) from sale of Fixed Assets 25 8,925 13,805 4,880 -

134,178,236 136,749,877 2,571,641

B. Expenditure

Employee cost 26 57,622,946 57,536,319 86,627 0.15

Occupancy cost 27 8,318,764 8,801,370 (482,606) (5.80)

General and Administrative expense 28 9,775,432 8,848,945 926,487 9.48

Students Education expense 29 11,218,166 10,425,118 793,048 7.07

Examination expense 30 4,743,146 4,494,382 248,764 5.24

Post Qualifying Education expense 31 1,582,724 2,098,629 (515,905) (32.60)

Members Activity expense 32 1,690,000 1,690,000 - -

Seminar and Conference expense 33 8,181,340 8,053,912 127,428 1.56

Research and Development expense 34 631,625 737,663 (106,038) (16.79)

Journal Publication expense 35 1,833,667 1,582,196 251,471 13.71

Depreciation & Amortization 36 5,095,238 5,759,493 (664,255) (13.04)

110,693,048 110,028,027 665,021

C. Surplus/(Deficit) (A - B) 23,485,188 26,721,850 3,236,662

STATEMENT OF BUDGET VARIANCE


2017 - 2018 Taka

2016 - 2017 Taka

A. Receipts

Opening balance

Cash -in- hand 29,949 28,885

Cash at bank 482,004 742,127

511,953 771,012


Less: Advance Adjusted - 450,000

814,000 290,000

Advance from ICMAB against next year budget - 500,000

Loan from ICMAB National Council 1,200,000 -

Loan from DBC's office bearer 1,105,000 300,000

Subscription and other receipts for picnic 640,100 378,300

Subscription and other receipts for DBC Fellowship Night 393,600 360,500

Training 5,312,145 4,817,420

Raffle Draw 557,300 449,400

Advertisement and Sponsor 3,488,595 3,089,530

Bank interest and others 2,648 5,259

12,699,388 9,900,409

14,025,341 10,961,421

Annex - A


Dhaka Branch Council

ReceiptsandPaymentsAccountFortheyearendedJune30,2018

DHAKA BRANCH COUNCIL


Annex - A


Dhaka Branch Council


2017 - 2018 Taka

2016 - 2017 Taka

B. Payments

DBC Fellowship Night 3,088,732 3,248,746

Training Course expenses (VAT and Tax etc.) 1,212,509 1,687,549

DBC Activities expense:

(Reception to Office Bearers, Art Competition, Members Family Day, Leadership, Iftar Party etc) 4,977,113 2,405,463

Indoor Games 223,374 238,110

DBC Annual Picnic 1,266,995 1,101,487

Sponsor & incentive expense (ICMAB students and incentive to staff) 145,650 142,825

Loan refunded to DBC Office Bearer 300,000 200,000

Loan refunded to ICMAB 1,200,000 300,000

Repairs and maintenance 55,443 75,135

Office expenses (Meeting and stationery expenses) 585,093 593,937

e-mail, postage, dish and internet expense 67,809 72,115

DBC website & jobsite 130,000 100,000

Celebration of Independent & National Day 2018 261,665 -

Misc. expense (Doa and Milad Mahfil) 119,593 21,050

Hall rent (DBC Night - 2018) 50,000 150,000

DBC Eid-reunion 236,528 108,504

Office equipment (Computer, Mobile etc.) 37,400 -

Furniture and Fixture (Sofa Set) 50,000 -

Bank charge and VAT 4,932 4,547

14,012,836 10,449,468

C. Closing balance (A - B)

Cash -in- hand 6,645 29,949

Cash at bank 5,860 482,004

12,505 511,953

DHAKA BRANCH COUNCIL


2017 - 2018 Taka

2016 - 2017 Taka

A. Receipts

Opening balance

Cash -in- hand 25,846 17,284

Cash at bank 438,024 145,720

463,870 163,004


Less: Last year donation adjusted - 121,000

266,000 363,000

Special Grant from National Council (Seminar, Fellowship night, picnic, workshop, CPDs etc.) 500,000 650,000

Reimbursement from Head Office - 280,200

Fees from participants (Seminar, Conference and Fellowship night etc.) 687,100 624,400

Raffle Draw (Picnic, CBC Fellowship night etc.) 176,600 239,600

Advertisement and Sponsor 1,182,639 1,067,891

Donation 95,000 182,000

Bank interest 9,545 7,722

2,650,884 3,051,813

3,380,754 3,577,817

B. Payments

CPD expense 412,215 492,923

CBC Fellowship Night 601,608 753,232

Seminar and Conference expense 1,007,414 804,576

CBC Picnic 672,700 650,610

Workshop on BCAS - 115,156

Shaheed Dibash/Pahela Baishakh etc. 156,781 139,198

Eid-e-Miladunnabi expense 61,447 57,231

Meeting and other expenses 132,062 98,471

Bank charge 2,922 2,550

3,047,149 3,113,947


Cash -in- hand 8,669 25,846

Cash at bank 324,936 438,024

333,605 463,870

Annex - B


Chattogram Branch CouncilReceiptsandPaymentsAccount

FortheyearendedJune30,2018

CHITTAGONG BRANCH COUNCIL


2017 - 2018 Taka

2016 - 2017 Taka

A. Receipts

Opening balance

Cash -in- hand - -

Cash at bank 565 5,765


Special Grant from National Council (Seminar, Fellowship night etc.) 50,000 -

Training 115,500 -

Study tour 504,090 -

Bank interest 300 339

779,890 100,339

780,455 106,104

B. Payments




Annual Picnic and others 463,186 15,000

Entertainment expense 15,000 11,000

KBC Night 40,476 34,500

Memorial Day etc. 9,505 9,000

Ifter Party, Doa and Milad Mahfil 16,290 15,000

Training course expenses 69,300 -

Student orientation program 63,699 -

Miscellaneous expense 470 1,039

711,226 105,539


Cash -in- hand 5,659 -

Cash at bank 63,570 565

69,229 565

Annex - C


Khulna Branch Council


KHULNA BRANCH COUNCIL



Deputy Director

Director

Academic Affairs Division

[email protected]

Rajshahi Study Centre

Chattogram Branch



E-mail : [email protected]

Administration Department


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