ICAB News Bulletin December 2017 Issue the University of Technology Sydney (UTS), Australia and...

Monthly News Briefing from the Institute of Chartered Accountants of Bangladesh

ICABICAB NEWS BULLETINDecember 2017

Number 337

ISSN 1993-5366

ICAB Gets New President, Vice Presidents

he Institute of Chartered Accountants of Bangladesh (ICAB), the national professional accounting body, has

elected Dewan Nurul Islam FCA as President and Moddassar Ahmed Siddique FCA, Mahmudul Hasan Khusru FCA, Mahamud Hosain FCA as Vice Presidents of the Institute for the year 2018.

The new office bearers of ICAB were elected by the members of the council, ICAB shortly before holding 45th Annual General Meeting chaired by ICAB outgoing President Adeeb Hossain Khan FCA at ICAB auditorium on 17 December 2017.

Short Profile of ICAB President:

Dewan Nurul Islam FCA is the managing director of Grant Thornton Consulting Bangladesh Limited, one of the world’s leading advisory firms. He is also the Chairman of National Asset Management Limited, an asset management company

licensed by BSEC.

He did his MBA in finance with distinction from the University of Technology Sydney (UTS), Australia and qualified chartered accountancy in 1990. Mr. Dewan has extensive senior level management experience with large local corporates, MNCs and financial institutions in the country and abroad.

He is in ICAB Council since 2013 and was vice president of ICAB in 2014. He participates in TV programmes regularly as capital market and business analyst and is a frequent contributor to leading national dailies on business and economic issues.

He served as a member of the board of directors for a number of private and public sector organisations. He was a member board of directors of Jamuna Oil Company Limited. He was appointed as director to the board of Bangladesh Development Bank Limited (BDBL), assumed the position of chairman of the audit committee and was appointed the chairman of the board of directors of the bank.

Short profile of Vice Presidents:

Moddassar Ahmed Siddique FCA has been reelected Vice President for the year 2018. After completion of his graduation in Commerce, Mr. Siddique joined in the CA Profession as an Articled student in HodaVasi Chowdhury & Co., Chartered Accountants. He became an Associate Member in 1997 and Fellow Member in 2002 of ICAB. Currently Mr. Siddique is serving in the KDS Group as Group CFO. Before joining the KDS Group Mr. Siddique had served BSRM as Chief Accountant and Aramit

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ICAB Gets New President, Vice PresidentsOpportunity for ICAB Members... CA FirmsDU and ICAB sign MoU to allow subjects...Dept. 03Digital Identification of AuditorsPresident’s Communica-tion December 2017SAFA Board Meeting, Committee... India 06Anwaruddin Chowdhury Participates... TorontoBrilliant Students' Award Ceremony... EmployeesMemorandum of MoU with Chittagong UniversityMembers Celebrated Formation of ASPACDRC-ICAB Gets New Chairman, SecretaryBangladesh Capital Market Expo 2017Victory Day ObservedDRC-ICAB Quiz Biz 2017CRC-ICAB Organized CPD... Annual DinnerICAB Members’ Night 2017Workshop on ‘Cyber security;... SystemsCRC-ICAB Elects Chairman and SecretaryAdmission as FellowsPermission to train Articled StudentsPermission to Start PracticePermission to Join as PartnerPermission to Open Firm OfficeCampus News 45th Annual General Meeting... at CA Bhaban

Ltd. and Aramit Cement Ltd. as General Manager (Finance & Accounts) & Company Secretary. He attended many seminars & workshops at home & abroad. He is an active member of AOTS- Japan.

Mr. Siddique has been in the Council-ICAB since 2016. He has been serving the Institute in different capacities in different standing and non-standing committees for several years. He was the Honorary Secretary and Chairman of the Chittagong Regional Committee (CRC)-ICAB in 2007 and 2009 respectively.

Mahmudul Hasan Khusru FCA is the Director & CEO of InfoFort (A franchise operated by DataFort) Bangladesh. He is also involved in the continuous development process of ICAB in various capacities and the council member of ICAB since 2016. He also acted as the Vice-President, Education & Training (E & T) of ICAB in 2016.

Mr. Khusru has been serving as the faculty member of ICAB on Taxation for last 14 years. He is also involved in the preparation of various study materials of ICAB. Mr. Khusru. He was the Chairman of Dhaka Regional Committee (DRC) of ICAB in 2011.

Mahamud Hosain FCA has been reelected Vice President for the year 2018. He is actively engaged in

business, and currently is the Chairman of Link In Limited, a limited company working in Civil, Mechanical and Electrical construction areas in the telecom, development, power and infrastructure sectors.

Mr. Mahamud is also engaged with World Bank, Dhaka Office as Financial Management Consultant (STC).

He is the Chairman of Total Logistics Limited, a logistics company, engaged in the area of warehousing, transportation, international shipping line and custom clearances.

He is the Chairman of Overseas Employment Service Limited, a limited company partnering with overseas enterprises.

Mr. Mahamud is a member of PASFC of South Asian Federation of Accountants (SAFA). He is government nominated board member of Dhaka WASA and Bangladesh Rural Electrification Board.

He is actively involved in social work and Life Member of Gulshan North Club; Life Member Barisal Club; Life Member Gulshan Health Club; Life Member of Banani Society and Rotary Club of Dhaka North East.

Mr. Mahamud has been in the Council since 2016. Previously he had been in Dhaka Regional Committee from 2010-12.

Dewan NurulIslam FCAPresident

MahamudHosain FCA

Vice President

Mahmudul Hasan Khusru FCA

Vice President

Moddassar Ahmed Siddique FCAVice President

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December 2017 No. 337






licensed by BSEC.


















Opportunity for ICAB Members/Practicing CA Firms

This is for the information of all the ICAB Members / Practicing CA Firms who are looking for prospective Partners/Qualified Assistants/Qualified Director and also who are interested to join with any Practicing CA Firm may kindly contact in writing with Secretary-ICAB, Maj Gen Muhammad Imrul Quayes (Retd).

ICAB will act as a Mediator to facilitate the process. Particulars of concerned Members/CA Firms will be kept confidential as far as possible.

FROM THE DESK OF CHAIRMAN – EDITORIAL BOARD

Dear Fellow Members and Friends,

Assalamu alaikum and greetings to you all.

December is the month of Victory and 16 December is our victory day, a glorious and memorable day in the history of the Bangali nation. I would like to pay my respect to Bangabandhu Sheikh Mojibur Rahman, our father of the nation and to millions of freedom fighters who laid their lives to liberate the nation. People from all walks of life took up elaborate activities to mark the day. ICAB DRC organised a colourful cultural programme to celebrate the day with deepest respect.

After a 12 months journey we have come to the end of an eventful year. If we look back we will find a splendid year in the history of ICAB. Remarkable new dimensional activities took place. Events like ICAB Student Summit 2017 organised in Dhaka and Chittagong, will remain as a milestone. Programmes like successful happening of SAFA Regional CFO Conference 2017, Launching of CA Women’s Forum, Discussion on Path to an Easier Business Environment, etc. will place ICAB in a new height at home and abroad.

A good number of training and workshop were organized throughout the year. We have also an experienced and renowned resource pool. This will enhance the reputation of ICPE as a training Centre as well as it will enrich our members as professionals and also the professionals from the corporate world.

The Institute of Chartered Accountants of Bangladesh (ICAB) has undertaken a massive move on to the increase of students’ enrollment in CA Profession. ICAB has signed MoU with the University of Dhaka (AIS & Finance Department), Jahangirnagar University (AIS Department) and Jagannath University (AIS Department). The evaluation process with various prominent public and private universities are under process. The aim of this move is to attract brilliant students in this profession and enrich CA profession as a whole. This will also help propel ICAB to a new height by creatively conveying the powerful strategy that will take it from where it is to where it wants to go in near future.

On the eve of new year 2018 let us take a vow that we will engage ourselves for the welfare of the country, and I wish the new year bring in all our lives untainted happiness, peace and prosperity.

With warmest regards to you all.

Dr. Jamshed S A Choudhury FCA

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December 2017No. 337






licensed by BSEC.


















he Institute of Chartered Accountants of Bangladesh (ICAB) and Finance Department

of University of Dhaka signed a Memorandum of Understanding (MoU) on 13 December 2017 at Conference Hall, Faculty of Business Studies to allow subjects waiver of CA study Modules in Knowledge Level for the students of the Department subject to fulfilling certain criteria. Under this MoU, the students will be eligible for exemption in Accounting, Business and Finance, Management Information, Business & Commercial Law and Information Technology subjects.In the presence of DU Vice Chancellor Professor Dr. Md. Akhtaruzzaman, the MoU was signed between ICAB President Adeeb Hossain Khan FCA and DU Treasurer Professor Md. Kamal Uddin.DU Vice Chancellor Professor Dr. Md. Akhtaruzzaman said this MoU will help students to build career in Chartered Accountancy. He said, I believe this MoU is the foundation of better

relationship between Dhaka University and ICAB. DU will utilize all possible opportunities for the students to groom up with knowledge. He expects that students of DU Finance Department will avail this opportunity to lead a successful career. ICAB President Adeeb Hossain Khan said that this learning partnership takes DU students one step closer to Chartered Accountancy. He urged the students of Finance department to make best use of this opportunity for the sake

of a better career. DU Business Faculty Dean Prof. Shibli Rubayat Ul Islam, Chairman, Finance Department Prof. Dr. Md. Kismatul Ahsan and ICAB Vice President Mostafa Kamal FCA, Council Member AF Nesaruddin FCA & Secretary Major General Muhammad Imrul Quayes (Retd) were present in the programme. The speakers elaborated as to how the students would be benefited in pursuing Chartered Accountancy through this arrangement.

DU and ICAB Sign MoU to Allow Subjects Waiver for Students of Finance Dept.

Digital Identification of AuditorsChairman of National Board of Revenue (NBR) Md. Nojibur Rahman inaugurated the software of Digital Identification of Auditors on 10 December 2017 during the inauguration ceremony of National VAT Day & VAT Week at NBR New Office Building at Agargaon, where FBCCI President Md. Shafiul Islam, ICAB President Adeeb Hossain Khan FCA, Vice Presidents Mostafa Kamal FCA & Md. Mahamud Hosain FCA, Member Council & Past Presidents Md. Humayun Kabir FCA and Kamrul Abedin FCA were present.

The software was demonstrated by ICAB Database System Manager Md. Deloar Hossain.

From now on, any one will be able to identify the auditors of a company through the website of ICAB. This is

being incorporated as part of ERP System incorporated in ICAB.

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Dear fellow members, this is my last communication, as I have reached the end of my presidency. 2018 Office Bearers are already in place, headed by Mr. Dewan Nurul Islam FCA. My heartiest congratulations to them all. I have every confidence that this team will take ICAB to even greater heights.

My closing message to you is to express my gratitude for giving me the opportunity to serve you. Over the year, your suggestions have given me guidance, your criticism has helped me correct my path and your praise has given me confidence.

I am fortunate that I had the wholehearted, constant and enthusiastic support of three very capable Vice Presidents. Of course none of our initiatives would have seen the light of day had it not been for your Council, made up of such progressive, sound and hardworking members who have the interest of our profession at the core of their heart. No matter how innovative or hardworking the Councillors were, without the executive team behind us, no initiative would come to fruition and in

fact, ICAB would come to a standstill. We have a wonderful group of most dedicated men and women those daily toil for ICAB is felt by all of us, but perhaps seen by none. My heartfelt thanks to this group.

Meetings of Council and Standing & Non-standing Committees and Sub-committees

The following meetings of the Council, Standing and Non-standing Committees and Sub-committees of ICAB were held during the month of December 2017:

Standing Committees:

- 17th Meeting of the Council was held on 3 December 2017 at 4:00 pm.

- 5th Meeting of the Board of Studies (BoS) was held on 5 December 2017 at 5:50 pm.

- 4th Meeting of the Quality Assurance Board (QAB) was held on 11 December 2017 at 5:30 pm.


- 19th Meeting of the Council was held on 17 December 2017 at 12:00 Noon.

- 12th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 21 December 2017 at 5:30 pm.

- 8th Meeting of the Articled Students Committee (ASC) was held on 24 December 2017 at 5:30 pm.

Non-standing Committees:

- 5th Meeting of the Editorial Board (EB) was held on 5 December 2017 at 6:30 pm.

- 4th Meeting of the Audit Committee was held on 7 December 2017 at 5:30 pm.

- 2nd Meeting of the Project Development & Implementation Committee (PDIC) was held on 14 December 2017 at 6:00 pm.

- 5th Meeting of the Committee for Amendment of CA Order & Bye-Laws was held on 27 December 2017 at 5:30 pm.

Standing and Non-standing Sub-committees:

- 6th Meeting of the ERP Project Steering Committee of Information & Communication Technology Committee (ICTC) was held on 6 December 2017 at 6:00 pm.

- 1st Meeting of the Technical & Research-Sub Committee was held on 14 December 2017 at 1:30 pm.

- 4th Meeting of the Articled Students Sub-Committee was held on 18 December 2017 at 6:00 pm.

Let me close by wishing you all a safe, healthy and prosperous 2018.

Adeeb Hossain Khan FCA President

President’sCommunicationDecember 2017

FROM THE DESK OF CHAIRMAN – EDITORIAL BOARD

Dear Fellow Members and Friends,


December is the month of Victory and 16 December is our victory day, a glorious and memorable day in the history of the Bangali nation. I would like to pay my respect to Bangabandhu Sheikh Mojibur Rahman, our father of the nation and to millions of freedom fighters who laid their lives to liberate the nation. People from all walks of life took up elaborate activities to mark the day. ICAB DRC organised a colourful cultural programme to celebrate the day with deepest respect.

After a 12 months journey we have come to the end of an eventful year. If we look back we will find a splendid year in the history of ICAB. Remarkable new dimensional activities took place. Events like ICAB Student Summit 2017 organised in Dhaka and Chittagong, will remain as a milestone. Programmes like successful happening of SAFA Regional CFO Conference 2017, Launching of CA Women’s Forum, Discussion on Path to an Easier Business Environment, etc. will place ICAB in a new height at home and abroad.

A good number of training and workshop were organized throughout the year. We have also an experienced and renowned resource pool. This will enhance the reputation of ICPE as a training Centre as well as it will enrich our members as professionals and also the professionals from the corporate world.

The Institute of Chartered Accountants of Bangladesh (ICAB) has undertaken a massive move on to the increase of students’ enrollment in CA Profession. ICAB has signed MoU with the University of Dhaka (AIS & Finance Department), Jahangirnagar University (AIS Department) and Jagannath University (AIS Department). The evaluation process with various prominent public and private universities are under process. The aim of this move is to attract brilliant students in this profession and enrich CA profession as a whole. This will also help propel ICAB to a new height by creatively conveying the powerful strategy that will take it from where it is to where it wants to go in near future.

On the eve of new year 2018 let us take a vow that we will engage ourselves for the welfare of the country, and I wish the new year bring in all our lives untainted happiness, peace and prosperity.

With warmest regards to you all.

Dr. Jamshed S A Choudhury FCA

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Dear fellow members, this is my last communication, as I have reached the end of my presidency. 2018 Office Bearers are already in place, headed by Mr. Dewan Nurul Islam FCA. My heartiest congratulations to them all. I have every confidence that this team will take ICAB to even greater heights.

My closing message to you is to express my gratitude for giving me the opportunity to serve you. Over the year, your suggestions have given me guidance, your criticism has helped me correct my path and your praise has given me confidence.

I am fortunate that I had the wholehearted, constant and enthusiastic support of three very capable Vice Presidents. Of course none of our initiatives would have seen the light of day had it not been for your Council, made up of such progressive, sound and hardworking members who have the interest of our profession at the core of their heart. No matter how innovative or hardworking the Councillors were, without the executive team behind us, no initiative would come to fruition and in

fact, ICAB would come to a standstill. We have a wonderful group of most dedicated men and women those daily toil for ICAB is felt by all of us, but perhaps seen by none. My heartfelt thanks to this group.

Meetings of Council and Standing & Non-standing Committees and Sub-committees

The following meetings of the Council, Standing and Non-standing Committees and Sub-committees of ICAB were held during the month of December 2017:

Standing Committees:


- 5th Meeting of the Board of Studies (BoS) was held on 5 December 2017 at 5:50 pm.

- 4th Meeting of the Quality Assurance Board (QAB) was held on 11 December 2017 at 5:30 pm.


- 19th Meeting of the Council was held on 17 December 2017 at 12:00 Noon.

- 12th Meeting of the Investigation & Disciplinary Committee (IDC) was held on 21 December 2017 at 5:30 pm.

- 8th Meeting of the Articled Students Committee (ASC) was held on 24 December 2017 at 5:30 pm.

Non-standing Committees:

- 5th Meeting of the Editorial Board (EB) was held on 5 December 2017 at 6:30 pm.

- 4th Meeting of the Audit Committee was held on 7 December 2017 at 5:30 pm.

- 2nd Meeting of the Project Development & Implementation Committee (PDIC) was held on 14 December 2017 at 6:00 pm.

- 5th Meeting of the Committee for Amendment of CA Order & Bye-Laws was held on 27 December 2017 at 5:30 pm.

Standing and Non-standing Sub-committees:

- 6th Meeting of the ERP Project Steering Committee of Information & Communication Technology Committee (ICTC) was held on 6 December 2017 at 6:00 pm.

- 1st Meeting of the Technical & Research-Sub Committee was held on 14 December 2017 at 1:30 pm.

- 4th Meeting of the Articled Students Sub-Committee was held on 18 December 2017 at 6:00 pm.

Let me close by wishing you all a safe, healthy and prosperous 2018.

Adeeb Hossain Khan FCA President

Bangladesh Capital Market Expo 2017.

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delegation of the Institute of Chartered Accountants of Bangladesh (ICAB) participated

in 50th SAFA Board meeting & 85 Assembly meeting, different Committee meetings and SAFA BPA Conference marking session held in Mumbai, India on 5-7 December 2017. The events were hosted by the Institute of Chartered Accountants of India(ICAI).

The ICAB delegation was comprised of SAFA current President ASM Nayeem FCA, ICAB Member Council and Past President Muhammed Farhad Hussain FCA, SAFA Executive Secretary Mahbub Ahmed Siddiue FCA, Director Technical, ICAB and Deputy Director Md. Afsar Uddin FCA.

SAFA different committee meetings were held on 6-7 December 2017. Md. Shahadat Hossain FCA participated in SAFA SMP Committee meeting, Dewan Nurul Islam FCA in SAFA ITAG committee meeting and Mahbub Ahmed Siddique FCA participated in SAFA International Relationship Committee meeting.

ASM Nayeem FCA, SAFA President, Council Member & Past Present of ICAB chaired the SAFA Board meeting held on 7 December 2017. Muhammed Farhad Hussain FCA and Mahbub Ahmed Siddiue FCA also participated in the meeting. On invitation IFAC President Rachel Grimes was present in the meeting. She elaborated IFAC initial

views and reaction to Monitoring Group Consultation Paper. The SAFA Board lauded the performance and achievements of SAFA in 2017 under the dynamic leadership of current SAFA President. In addition to strengthening financial strength of SAFA, inclusion of CPA Afghanistan as Associate Member, this year SAFA for the first time, introduced SAFA CFO Conference, SAFA Quiz & Elocution Contest, and observation of International Accountancy Education Day among the member bodies’ countries.

ICAB delegates participated in SAFA different committee meetings as follow:

• SAFA SMR C o m m i t t e e Md. Shahadat Hossain FCA

• SAFA ITAG C o m m i t t e e Dewan Nurul Islam FCA

• SAFA International Relationship Committee Mahbub Ahmed Siddique FCA

Before the SAFA events, ICAB Technical Director Mahbub Ahmed Siddique FCA and Deputy Director Md. Afsar Uddin FCA attended the SAFA BPA Conference held on 5 December 2017 in Mumbai, India. The performance of Bangladeshi Organizations in SAFA BPA award 2016 was overwhelming. The Annual Reports of the organizations nominated by ICAB won 10 winning positions out of 14, which is remarkable. Besides, the organizations have received Merit awards in the competition.

SAFA Board Meeting, Committee Meetings & SAFA BPA Conference Marking Session in Mumbai, India

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nwaruddin Chowdhury, Member Council and PP ICAB, Director CAPA Board and Member

IPSASB Consultative Group (CAG), "participated" in the 4th IPSAB CAG Meeting on the 4th and "observed" the IPSASB meeting on 5-6th December. The Meetings were held in the Council Hall of Certified Professional Accountants of (CPA) Canada office in Toronto. It may be recalled that Mr. Chowdhury was selected as a founder member of the CAG by the IFAC Selection Board and the Public Interest Committee (PIC) in April 2016, as the representative of the Asia-Pacific region (CAPA). The CAG constitutes an important and integral part of the IPSASB's formal process of consultation, aimed at enhancing the technical content and level of transparency in the public sector standard setting process. The CAG provides advice on numerous areas, including the IPSASB's strategy, work program and agenda, including project priorities; views on key technical and other matters, relevant to IPSASB standard setting activities.

The December CAG meeting focused on a Rating Agency (Moody’s) Presentation on ‘sovereign credit rating’ and impact of accrual accounting implementation. There was another Presentatin on comparative "implementation issues" involved in the Government of the UK and the state Government of NSW, Australia. Both the presentations provoked substantial forum discussions and it was decided to continue such presentations in the future. Thereafter the IPSASB Director gave a detailed Report on the on the Strategy, Work Plan document and CAG advice thereon. He also elucidated on the feedback from October

Teleconference, (also participated by Mr. Chowdhury) and major issues emanating therefrom, especially Re Developing Awareness through "outreach workshops" It was explained by Chair IPSASB, that as, observed by Mr. Chowdhury, the SE Asia workshop, envisaged at Manila, will include South Asian countries, and that IPSASB was in consultation with SADB in that regard.

The CAG meeting reviewed the progress on public sector projects relating to "Infrastructure"; "Heritage", as per CAG advice. Mr. Chowdhury reiterated his view that it is preferable to prepare a Project Consultation (PC) document for Standards /projects which were purely public sector focused, (Heritage, Social Benefits), but a PC may be dispensed with for IFRS conversion standards (Revenue, Leases, Business Combinations, Financial Instruments).

For each one of the IPSAS projects, the concerned IPSASB Principal raised significant number of queries and sought CAG advice on how best to resolve them and proceed towards the Standard.

PS : Mr. Chowdhury had also participated (completed the Online Meeting Survey on 15 Dec and submitted it to IPSASB CAG. It was a 2 hour exercise mainly concerned with the aspects of the meeting liked by the respondent and what aspects not liked, and how best to improve these. It also sought advice of the CAG members on the preferred areas for discussion in June'18 meeting, and sought contributions of members on country/constituency perspectives.

Anwaruddin Chowdhury Participates in IFAC CAG and IPSASB Meetings in Toronto

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he Institute of Chartered Accountants of Bangladesh (ICAB) awarded the meritorious

children of the members and employees of the Institute, who secured outstanding results in public examinations; JSC-2016, SSC, HSC, O and A levels examinations 2017. The award ceremony was held on 1 December at CA Bhaban under the auspices of Members Services and Welfare Committee (MSWC) of the Council, ICAB.

Total 29 children of ICAB Members and Employees fulfilled the award criteria and received the 'ICAB Brilliant Students' Award for the year 2017'.

Dr. Mashiur Rahman, Economic Affairs Adviser to the Hon’ble Prime Minister, Govt. of Bangladesh graced the occasion as the Chief Guest while Anisul Hoque, Associate Editor of the Daily Prothom Alo attended as the Special Guest. ICAB president Adeeb

Hosain Khan FCA spoke on the occasion while MSWC Chairman Anwaruddin Chowdhury FCA delivered welcome address. The Secretary, ICAB Maj Gen Muhammad Imrul Quayes (Retd.), Convener of the Organising Sub-Committee Md. Selim Reza FCA, ICAB Council Members, Past Presidents and distinguished Fellow Members were also present in the ceremony.

Brilliant Students' Award Ceremony 2017 for Children of ICAB Members & Employees

The Institute of Chartered Accountants of Bangladesh (ICAB) signed a Memorandum of Understanding (MoU) with Chittagong University (CU) on 1 December 2017 at the university. CU Vice-Chancellor Prof. Dr. Iftekhar Uddin Chowdhury was present as the Chief Guest while ICAB Vice Presidents Mostafa Kamal FCA & Mahamud Hosain FCA, Council Member Mahmudul Hasan Khusru FCA, Past President Showkat Hossain FCA and faculties of Accounting & Information System Department were present in the ceremony.

The students of Accounting & Information Systems(AIS) will be eligible for exemption in: Accounting, Business

and Finance, Management Information and Information Technology subjects of CA Student Modules.

Memorandum of Understanding (MoU) with Chittagong University

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he ICAB Asia Pacific Chapter

(ASPAC) organised a year-end

gala get-together for members

residing in Australia on 2 December

2017. Members and their families from

various parts of Australia came

together to join the event. This was the

second get-together of this kind in

Australia.

It was a great night. A large number of

members joined the programme and

many more joined over the phone and

video conferencing. Additionally, a

number of prospective ICAB

members, e.g. current members of

Australian CA Institute attended the

event aiming to learn more about

ICAB, the ASPAC Chapter and the

procedure of becoming member of

ICAB.

The event was opened by Hamid

Ahmed, the senior most ICAB member

in Australia. In his short speech he

welcomed the members. He also

spelled out the objectives and

potential benefits of the Chapter.

Another senior member Manzur Isa

also gave an introductory speech. Abu

Kibria and Syed Akram Ullah

described the background of the

formation of the Chapter, the core

purpose and how members would get

benefit etc.

Members attending the event

discussed various issues on common

interest and importance. These

included represention of ICAB in

Australia and Asia Pacific region,

organising regular CPD events and

networking, raising profiles of

members in Australia, importance of

MRAs with CA/CPA Australia, taking

members’ issues of common interest

to ICAB, knowledge and skills sharing

amongst members in the region and

with the members in Bangladesh and

other overseas chapters, social medial

presence for the Chapter, etc. In order

to persuing members’ interests and to

lead the Chapter forward, members

formed an Executive Committee (EC) .

The EC stands as Chairman –Hamid

Ahmed FCA, CA (AU); Vice-Chairman

– Manzur Isa FCA, FCPA (AU);

Secretary – Abu Kibria ACA, CA (AU);

Joint-Secretary – Zaber Ahmed ACA,

CA (AU); Treasurer – Syed Akram

Ullah ACA, CA (AU), CTA

Members also formed other

sub-committees for handling urgent

and important issues. The event was

concluded by giving a vote of thanks to

Mr & Mrs Hamid Ahmed for hosting the

event and sponsoring the networking

dinner.

The new Executive Committee looks

forward to working collaboratively with

all stakeholders including members in

Australia as well as the ICAB Council.

Members Celebrated Formation of Asia Pacific Chapter (ASPAC)

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Md. Ali Akhter Rezvi FCA and Md. Jasim Uddin FCA have been elected Chairman and Secretary respectively of Dhaka Regional Committee (DRC) of the Institute of Chartered Accountants of Bangladesh (ICAB) for the year 2018.

They were elected at its 38th Annual General Meeting (AGM) held on 30 December 2017 at ICAB Auditorium.

The meeting approved and adopted financial statements of DRC for the year 2016-17.

Md. Ali Akhter Rezvi FCA is working with Howladar Yusnus & Co., (Grant Thornton Bangladesh), Chartered Accountants as a Director and Md. Jasim Uddin FCA with the IBN Sina Pharmaceutical Industry Limited as Chief Financial Officer.

Other members of DRC-ICAB Committee are Mohammad Mohiuddin Ahmed FCA, Md. Selim Reza FCA, Md. Ashraful Azim FCA,

Md. Sarwar Hossen FCA, Muhammad Aminul Hoque FCA, Abdul Mannan FCA and Md. Al Amin Siddiki FCA.

DRC-ICAB Gets New Chairman, Secretary

Md. Jasim Uddin FCA Secretary

Md. Ali Akhter Rezvi FCAChairman

Bangladesh Capital Market Expo 2017

As a part of Branding activities ICAB setup a stall at the premises of the Capital Market Expo 2017 at Shilpakala Academy. The three-day Expo organized by Online news portal Arthosuchak was started from 7 December and ended on 9 December 2017. Thousands of visitors thronged the stall to know about the Chartered Accountancy Profession and its prospects. The Institute displayed several publications of ICAB including CA Brochure, BSA, BFRS for SME, Audit Practice Manual, List of Members & Firms, News Bulletin and Journal ‘The Bangladesh Accountant’. ICAB distinguished members also visited the stall.

Victory Day Observed

Valiant Freedom Fighter Major General (Retd.) Zamil D Ahsan (Birprotik) attended the discussion and cultural programme organized by Dhaka Regional Committee (DRC)-ICAB in observance of Victory Day of Bangladesh on 16 December 2017 at ICAB Auditorium. ICAB Vice Presidents Moddassar Ahmed Siddique FCA, Mostafa Kamal FCA and Mahamud Hosain FCA, Secretary Maj Gen Muhammad Imrul Quayes (Retd.) and DRC Chairman Muhammad Aminul Hoque FCA were also present in the programme. The 16 December is the Red-Letter Day in the history of Bangladesh.

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he grand final of the DRC-ICAB Quiz Biz-2017 was held on 29 December 2017 at ICAB Auditorium. The day-long Quiz

programme was segregated in different sessions where a number of students came from across the country, participated in. In fierce contest, questions and answers sessions were mesmerized by the active participation of the students.

DRC-ICAB Quiz Biz 2017

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Chittagong Regional Committee (CRC) of ICAB organised a Seminar on ‘Accounting for Sustainability’ and the Annual Dinner’ on 26 December 2017 at the Crystal Ball Room of Hotel Agrabad Limited, Chittagong.Niaz Ahmed Khan, Ph.D, Professor and former Chairman, Department of Development Studies, University of Dhaka and Country Representative- Bangladesh, International Union of Conservation of Nature graced the occasion as the Chief Guest.Moddassar Ahmed Siddique FCA, Group CFO of KDS Group and Vice President of ICAB and Dr. Mohammad Ayub Islam, Professor, Department of Accounting, University of Chittagong

and Director, C h i t t a g o n g S t o c k E x c h a n g e Limited were Special Guests.Shaifur Rahman Mazumdar FCA F C M A , Councilor ICAB and Managing D i r e c t o r , Chittagong Stock Exchange Limited conducted the session as the Session Chairman.Professor Ataur Rahman Belal FCA, Head of Accounting Department, Aston Business School, Aston University,

United Kingdom was the key-note speaker.On the same day Annual Dinner of CRC was organized at the same venue. The members of this region and their spouses attended the programme.

CRC-ICAB Organized CPD Seminar on Accounting for Sustainability and Annual Dinner

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CAB President, Vice Presidents and President & Vice Presidents elect, Council Members, Past Presidents,

Members and their spouses took part in Members’ Night 2017 programme at Pan

Pacific Sonargaon, Dhaka on 17 December 2017. This year the Night was adorned with colorful banners, festoons, colorful lights. A number of celebrities and enthusiastic ICAB

members acted gorgeous stage performance. The members & spouses and their relatives enjoyed the Night in cheerful environment. The Programme was followed by a sumptuous Dinner.

ICAB Members’ Night 2017

I

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

Name Effective Date

Mohammad Shariful Islam FCA (1434) 10 October 2017Hamcon TowerFlat # E-5, 90/1 Senpara ParbataMirpur-10, Dhaka

Billal Hossain FCA (1489) 10 October 2017Manager-Accounts & FinanceUnited Finance Ltd.Camellia House22 Kazi Nazrul Islam AvenueDhaka-1000

Name Effective Date

Sanjib Kumar Das FCA (1069) 29 October 2017Partner

Anil Salam Idris & Co.,

Chartered Accountants

522 Sk Mujib Road (2nd Floor)

Pathantolly Agrabad

Chittagong-4100

Md. Sazzad Hossain FCA (1470) 29 October 2017Manager

Ananta Group

House # 20, Road # 99

Gulshan-2

Dhaka-1212

Name Effective DateOishee Labina Hussain FCA (1341) 21 November 2017PartnerHussain Farhad & Co.,Chartered AccountantsHouse # 15, Road # 12, Block-F, NiketonGulshan-1, Dhaka-1212

Imtiazur Rahman FCA (1357) 21 November 2017General Manager (F & A)Expo Freight Ltd.206/A, Tejgaon I/A, (6th floor)Dhaka-1208

Esha Nabila Hussain FCA (1397) 21 November 2017PartnerHussain Farhad & Co.,Chartered AccountantsHouse # 15, Road # 12, Block-F, NiketonGulshan-1, Dhaka-1212

Permission to train Articled StudentsThe following members have been permitted to train Articled students with effect from the date mentioned against their respective names:

Name Effective DateMd. Masudur Rahman FCA (1162) 03 December 2016PartnerK M Alam & Co.,Chartered Accountants46, Mohakhali C/A (12th floor)Dhaka-1212

Wasequl Huq Reagan ACA (1517) 26 September 2017PartnerMahfel Huq & Co.,Chartered AccountantsBGIC Tower (4th floor)34, Topkhana Road, Dhaka-1000

Md. Aminul Islam FCA (1104) 26 September 2017PartnerHuda Hossain & Co.,Chartered AccountantsHouse # 91/D (1st floor)Road # 7A, Dhanmondi, Dhaka-1209

Md. Enamul Hasan ACA (1544) 27 September 2017PartnerMizan Islam & Co.,Chartered Accountants151/5, Monipuripara (Ground floor)Tejgaon, Dhaka-1215

Md. Akber Hossain Khan FCA (1443) 08 November 2017PartnerKhan Akber & Co.,Chartered AccountantsHouse # 1/D (1st floor), Road # 7Sector # 7, Uttara, Dhaka-1230

Name Effective DateMd. Shafiqul Alam FCA (603) 03 December 2017PartnerAhmed Zaker & Co.,Chartered AccountantsGreen City Edge, (Level-10)89, Kakrail, Dhaka-1000Mohammed Belayet Hossain FCA (1480) 15 January 2017PartnerK M Alam & Co.,Chartered Accountants46, Mohakhali C/A (12th floor), Dhaka-1212

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

Name Effective DateAbhijit Kumar Saha FCA (1170) 02 October 2017PartnerSyful Shamsul Alam & Co.,Chartered AccountantsParamount Heights (Level-6)65/2/1, Box Culvert RoadPurana Paltan, Dhaka-1000Kazi Saifur Rahman FCA (768) 29 November 2017ProprietorKSR & Co.,Chartered AccountantsHouse # 1557, Singapore Market (4th floor)Room # 503 & 512, Access Road, HaziparaAgrabad, Chittagong

Permission to Join as PartnerAbjijit Kumar Saha FCA (1170) has been permitted to form partnership and continue practice under the name and style of:

Name Effective DateSyful Shamsul Alam & Co., 02 October 2017Chartered AccountantsParamount Heights (Level-6)65/2/1, Box Culver RoadPurana Paltan, Dhaka-1000The other partner of the Firm: Md. Syful Islam FCA (615), A. K. M. Shamsul Alam FCA (584), Md. Rafiqul Islam FCA (432) and Mohammad Abu Jayed FCA (958).

Permission to Open Firm OfficeKazi Saifur Rahman FCA (768) has been permitted to open firm office and continue practice as Public Accountant under the name and style of:

Name Effective DateKSR & Co., 25 October 2017Chartered AccountantsHouse # 1557, Singapore Market (4th floor)Room # 503 & 512, Access Road, Hazipara, Agrabad, Chittagong

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CAB Centre for Professional

Excellence (ICPE) organized a

workshop on Cybersecurity;

Understanding the digital risk and

protecting the critical information

systems (PCIS) on 2 December 2017 at

ICPE training room.

A total number of 40 participants

participated in the Workshop.

ICAB Vice-Presidents Mostafa Kamal

FCA, ICAB Mahamud Hosain FCA,

Secretary Maj Gen Muhammad Imrul

Quayes, ndc, psc (retd), resource persons Dr. Em Pannah of the

training course and officials of ICAB

were present in the closing

ceremony.

Workshop on ‘Cybersecurity; Understanding Digital Risk and Protecting Critical Information Systems (PCIS)’

Chittagong Regional Committee (CRC)-ICAB has been formed in a meeting held on 26 December 2017 at Crystal Ball Room, Hotel Agrabad Limited, Chittagong under the Chairmanship of Mohammed Reazul Kabir FCA.

Md. Kamrul Hasan FCA and Kamrul Islam FCA have been

elected as the Chairman and the Honorary Secretary of CRC-ICAB respectively for the year 2018.

Other members of CRC-ICAB

Committee are Arup Chowdhury

FCA, Imran Abu Hasan FCA and

Mohammed Reazul Kabir FCA.

CRC-ICAB Elects Chairman and Secretary

I

Kamrul Islam FCA Honorary Secretary

Md. Kamrul Hasan FCAChairman


Name Effective Date



Name Effective Date





Pathantolly Agrabad

Chittagong-4100


Ananta Group


Gulshan-2

Dhaka-1212

















14



Name Effective Date



Name Effective Date





Pathantolly Agrabad

Chittagong-4100


Ananta Group


Gulshan-2

Dhaka-1212

















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Announcement(Classes of Next Session)

The New Session (March-May 2018) for the students of Professional Stage-Applicaation Level (16th Batch) and Advanced Stage (15th Batch) will start from 1 March 2018 at ICAB Academic Campus, 51-53, Kazi Nazrul Islam Avenue, Kawran Bazar Commercial Area, Dhaka-1215. A Notice has already been issued in this matter and all the concerned students are advised to enroll the classes by 25 February 2018, and to join the session accordingly. Onthe other hand, day time classes for Knowledge Level (3rd Batch) are going to resume from 4 March 2018 at ICAB Academic Campus. By issuing a-special notice, all practicing members of the Institute entitled to train articled students have been requested to kindly notify their students to enroll the classes by 28 February 2018, and to allow the students to attend the day shift classes.

Source: ICAB Campus

ICAB Academic Campus NewsThe regular pre-examination classes for Professional Stage-Knowledge Level (17th Batch, Sections: A-F) have started from 7 December 2018 at ICAB Academic Campus. The session to be continued to 27 February 2018. There are 362 students joining with 79 teachers for the Class Session: December'17-February'18. All students of this course are expected candidates for Examination Session: May-June 2018.

As a result, the cumulative number of participated students of ICAB under new curriculum has come to 13,757, till December 31, 2017.

However, another scheduled session for the students of Professional Stage-Application Level (16th Batch) & Advanced Stage (15th Batch) will commence 1 March 2018 at ICAB Academic Campus, 51-53, Kazi Nazrul Islam Avenue, Kawran Bazar Commercial Area, Dhaka-1215. A Notice has already issued in this regard and all the concerned students are advised to enroll the classes by 25 February 2018, and adhere the session accordingly.

On the other hand, day time classes for Knowledge Level (3rd Batch) are going to resume from 4 March 2018 at ICAB Academic Campus. By issuing special notice, all practicing members of the Institute entitled to train articled

students, have been requested to kindly notify their students to enroll the classes by 28 February 2018, and to allow the students to be present at day shift classes.

Meanwhile, Fridays' short course on English Language for the CA students has started from Friday, 21 December at ICAB Academic Campus, under the guidance of Bangladesh Chartered Accountancy Chatra Parishad (BCACP) and financed by the Dhaka Regional Committee (DRC)-ICAB.

Furthermore, the extended campus- Students' Cafeteria was inaugurated on 13 December 2018 at mezzanine floor. The concerned students, teachers, office bearers and members' council of Institute were invited and joined the grand programme.

Within the month of December 2017, the Vice President (Education & Training) - ICAB, Mostafa Kamal FCA visited the Academic Campus on 3, 8, 15, 21 & 27 December 2017, during the class-hour in the evening shift and day time session. He met with the students and faculty members, to know about the areas needed to improve with a view to make the campus environment, services and activities more congenial for study. He advised all the concerned for proper implementation of the outcomes of his visits as well.

Besides, the refurbishments of ICAB

Academic Campus at 51-53, Kazi Nazrul Islam Avenue, Kawran Bazar Commercial Area, Dhaka-1215, have mostly been done, and the rest of works would be completed by January 2018.

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

Inauguration of ICAB Academic Campus Cafeteria.


Name Effective Date



Name Effective Date





Pathantolly Agrabad

Chittagong-4100


Ananta Group


Gulshan-2

Dhaka-1212

















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

he 45th Annual General Meeting (AGM) of the Institute of Chartered Accountants of

Bangladesh (ICAB) was held on 17 December 2017 at the ICAB Auditorium, Dhaka under the Chairmanship of Adeeb Hossain Khan FCA, President-ICAB 2017.

At the outset of the meeting, members paid tributes to the departed souls of Mohammed Nurul Islam FCA (Enrl. No. 55), Md. Mukhlisur Rahman Khan FCA (Enrl. No. 214), Mian Mohammed Abdur Rouf FCA (Enrl. No. 123), Md. Mostafa Kamruzzaman FCA (Enrl. No. 300), Mohammad Abdul Jalil Mian FCA (Enrl. No. 83), Sahebzada Syed Giasuddin

Ahmed FCA (Enrl. No. 144) and Bidhu Bhusan Saha FCA (Enrl. 96) who due in 2017.

The minutes of the 44th AGM held on 24 December 2016 were confirmed and the Annual Report of the Council and Financial Statements of the Institute for 2015-2016 were adopted after necessary perusal and discussions. The outgoing President Adeeb Hossain Khan FCA introduced the newly elected ICAB office bearers for the year 2018 who are Dewan Nurul Islam FCA, President and Moddassar Ahmed Siddique FCA, Mahmudul Hasan Khusru FCA and Md. Mahamud Hosain FCA, Vice Presidents.

In his speech, the outgoing President Adeeb Hossain Khan FCA thanked the

Members, the senior management and the employees of the Institute and expressed his gratitude for extending and giving him valuable cooperation, suggestions and guidelines while discharging his responsibility as President. The President prudently answered the questions arising from the floor discussion.

The newly elected President Dewan Nurul Islam FCA thanked all the honourable Councilors and Members of the Institute for electing him as President-ICAB for 2018. He sought cooperation from all to enable him to discharge his responsibilities and uphold the image of the Institute and the profession.

45th Annual General Meeting (AGM) of ICAB held at CA Bhaban

T

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