MEMBER OF:

International Federation ofAccountants (IFAC)

International AccountingStandards Board (IASB)

South Asian Federation ofAccountants (SAFA)

Confederation of Asianand Pacific Accountants(CAPA)

ISSN 1993-5366November 2009

Monthly News briefing from the Institute of Chartered Accountants of Bangladesh

ICAB News BulletinNo. 241

SAFA BPA & CG Awards-2008 held on 5 November 2009

In This Issue❐ SAFA BPA & CG

Awards-2008 held on5 November 2009

❐ 69th SAFA Assembly,11th SAFA Board andDifferent CommitteeMeetings held inDhaka on 5-6 Nov '09

❐ President'sCommunication –November 2009

❐ ICAB holds itsTriennial CouncilElection

❐ ICAB PresidentAttends RegionalStandard Setters’Conference

❐ CRC Delegation meetswith CDA Chairman

❐ List of New BooksArrival in the ICABCentral Library

❐ IFAC News

❐ BCACP Organizes itsInstallation Ceremony

❐ We Mourn

❐ Snapshots of SAFA BPACGD Awards 2008

❐ ICAB Council Members2010 - 2012

South Asian Federation of Accountants(SAFA), an apex body of SAARCorganized the Best Published Accounts and

Governance Disclosures Awards-2008 at Dhaka on05 November 2009 under the joint sponsorship ofthe Institute of Chartered Accountants ofBangladesh (ICAB) and the Institute of Cost andManagement Accountants of Bangladesh(ICMAB), two fraternal accounting bodies of thecountry. The professional accounting bodies ofIndia, Pakistan, Sri Lanka and Nepal and nationaland international dignitaries participated on theoccasion. Mr. Abul Maal Abdul Muhith MP, Hon’bleMinister for Finance was Chief Guest on the

occasion.A number of banks, financial institutions,government organizations and NGOs ofBangladesh received awards at the function alongwith the awardees of other South Asian countries.Some other Bangladeshi companies receivedcertificates of merit as recognition for satisfactoryparticipation of disclosures in published accounts.The awardees from Bangladesh include Prime BankLtd, Dutch-Bangla Bank Ltd, Prime Finance andInvestment Ltd, Singer Bangladesh Ltd, BRAC,BURO Bangladesh, Sajida Foundation, andInvestment Corporation of Bangladesh. SAFA was formed in 1984 as a regional forum ofthe accounting bodies of the SAARC countries. The

Mr. Abul Maal Abdul Muhith, MP, Hon'ble Minister for Finance GoB (3rd from right) was present as chief guest on the occasion.

ICAB News Bulletin No. 241

November - 2009 2

objective was to harmonize the accountingprofession on uniform standards and codesin the South Asian region. With the passageof time SAFA is now committed topositioning, maintaining and developingthe accounting profession to deliver realvalue to the millions of the South AsianRegion. Mr. Nasir Uddin Ahmed FCA, President,ICAB said in his address of welcome thatorganizing such awards by SAFAindicates, it was inclination towardsenhancement of good governance,transparency in financial reporting withadequate disclosures and application ofinternationally accepted accounting &auditing standards in this SAARC region.It had a long term positive effect oncorporate reporting culture & standards inthis region. We would be able to take ourfinancial reporting & corporate governancestandard to globally acceptable levelthrough organizing these annual eventsamongst SAFA countries. Such eventsencourage participants to enhance qualityof their annual financial reports to win thisprestigious award.Mr. Abul Maal Abdul Muhith MP,

Hon’ble Minister for Finance, as ChiefGuest said, "the economic indicators of theSAFA member countries have beenshowing strong resilience in the face oftremendous pressure of the GlobalFinancial Crises. It is now expected that theSouth Asia region is bouncing back tonormal growth of their economies. This isessentially due to the good performance ofthe real economy and responsible behaviorof the financial sector".

“SAFA member bodies have certainly great

contributions particularly in the area of

transparent financial reporting of the

entities. I feel that we should acknowledge

the healthy contribution of our association

of Chartered as well as Cost accountants in

ensuring transparent and responsible

financial reporting of our financial

institutions in particular”. He added.

Mr. Sheikh A. Hafiz FCA, President

SAFA gave his view on the occasion by

saying, transparency and accountability

were more important than ever.

Accountants, as guardian of financial

information, must strive to ensure that

financial statements were accurate and the

objective was to ensure that managers,

investors and regulators could understand

the true financial condition of the

organizations that they manage, invest and

regulate."Awards Giving Ceremony is a good wayto recognize excellence and encourageothers to aspire for future awards by raisingthe quality of their financial reports. It isimportant to understand that the Awardssymbolize SAFA’s recognition and rewardfor organizations which have achievedexcellence in presentation and disclosureof high quality, relevant, reliable andobjectively comparable financialstatements, particularly within theIAS/IFRS framework and other usefulinformation contained in the annualreports. The Awards encourage recognitionfor harmonization of best regional andglobal financial reporting and corporategovernance practices. I sincerely hope thatthe Award Ceremony continues to achieveits intended objectives" he said.At the end phase of the occasion acolourful cultural programme wasperformed by the prominent artists of thecountry followed by dinner. ■

A part of audience of SAFA BPA & CG Awards 2008.

ICAB News Bulletin No. 241

November - 2009 3

11th SAFA Board Meeting was presided over by Mr. Sheikh A. Hafiz FCA, President SAFA.

11th SAFA Board meeting was held in themorning of 06 November 2009 at PanPacific Sonargaon Hotel, Dhaka under thechairmanship of Mr. Sheikh A. Hafiz FCA,President SAFA. Office bearers of SAFA,Board Members & Technical Advisors ofSAFA member bodies attended themeeting. SAFA is the forum of accountingbodies of the SAARC countriesrepresenting Bangladesh, India, Pakistan,Sri-Lanka and Nepal. Important issuesrelating to further promoting, enhancingand consolidating the accountancyprofession in the South Asian Region werediscussed in the meeting. Representativesfrom eight accounting bodies of the SAFAmember countries attended the event. After the Board Meeting 69th SAFAAssembly Meeting was held on the sameday under the chairmanship of Mr. SheikhA. Hafiz FCA, President SAFA. Mr.Komal Bahadur Chitracar, Vice PresidentSAFA, Mr. C R Mazumder, ExecutiveSecretary SAFA and Heads of MemberBodies & other delegates of all SAFAmember bodies participated in the 69thSAFA Assembly Meeting. In thisAssembly meeting, membershipapplication of the Institute of Certified

Management Accountants of Sri Lanka(CMA Sri Lanka) in SAFA has beenapproved. The meeting also decided thatnext Assembly meeting of SAFA will beheld at Kathmandu on 16 January 2009.On 5th November 2009 following TaskForce and SAFA Committee meetingswere held:a. Finance Committee meetingb. Task Force to Review the SAFAConstitution;c. SAFA Committee for Improvement inTransparency, Accountability andGovernance (ITAG);First meeting for 2009 of the SAFAFinance Committee was held in themorning of 05 November 2009 at PanPacific Sonargaon Hotel under theChairmanship of Mr. Sheikh A. HafizFCA, President SAFA. The meetingunanimously recommended to SAFABoard to setup an Independent PermanentSecretariat of SAFA at ICAI BuildingPremises with fulltime PermanentSecretary and one supporting staff. Themeeting also recommended to increase theannual membership subscription fees tobear the expenses of proposed IndependentPermanent Secretariat of SAFA.

Meeting of the Task Force to review theSAFA Constitution was held in themorning of 05 November 2009 at PanPacific Sonargaon Hotel, Dhaka under thechairmanship of Mr. Syed MohammadShabber Zaidi FCA, Chairman of the TaskForce & Advisor SAFA. The meetingunanimously recommended to SAFABoard to consider the new revised SAFAConstitution for necessary adoption.SAFA Committee for Improvement inTransparency, Accountability andGovernance (ITAG) meeting was also heldon 05 November 2009 under theChairmanship of Mr. LasanthaWickramasinghe. Committee members ofSAFA ITAG attended the meeting. Themeeting unanimously recommended therevised criteria of SAFA BPA Awards forapproval by the Board. Besides, meetingalso discussed about some specificsuggestions received from members of theCommittee to incorporate in the SAFABPA Awards Criteria, SAFA NGO/NPOsCriteria and SAFA CG Disclosure Awardscriteria and decided that Chairman willincorporate these suggestions in theconcerned criteria and will place in thenext meeting for consideration.

69th SAFA Assembly, 11th SAFA Board and DifferentCommittee Meetings held in Dhaka on 5-6 Nov '09

ICAB News Bulletin No. 241

November - 2009 4

My dear fellow members,Assalamualaikum.Please accept my heartfelt Eid Greetings on the occasion of holyEid Ul Azha celebrated in this month. Eid Ul Azha is the secondbiggest religious festival of the Muslim community worldwide andwe celebrate this gorgeously in this part of the world throughsacrificing animals. As we had our Council election in this month on the 21st November2009, hence we did not any major event in this month, except theSAFA Best Presented Accounts Award Ceremony, which was heldfor the first time in Bangladesh in early November. This event wasplanned in January 2009, as per schedule approved by SAFAAssembly. As a practice of reporting of ICAB activities, on a monthly basisthrough this “President’s Communication” which I started fromJanuary this year, would now like to touch upon some of the majoractivities carried out during the month of November and alsoprovide you an indicative plan of our activities for December 2009,the last month of my tenure as President.

CPD SeminarsAs per previous practice, Council decided no to hold any CPDseminar in November due to ensuing ICAB election. Hence we didnot plan to hold any CPD seminar in November. However, we areplanning to hold at least 1 CPD Seminar in December though weintended to hold 2 Seminars. But due to time constraint and otherevents, we would not be able to hold 2 Seminars in December.

Evening Coaching Classes Evening Coaching Classes for all professional examinations, i.e.PEI, PEII & PEIII was continuing in full swing since declaration oflast result of the Professional Examinations. ICAB is also taking allpreparations for holding Coaching Classes on new syllabus form02nd January 2010, for students appearing in the May-June 2010professional exams under new syllabus.

SAFA BPA & CG Awards 2008 SAFA Best Presented Accounts and Corporate GovernanceDisclosures Awards 2008 giving Ceremony was held on the 5thNovember at Bangabandhu International Conference Centre inShere Bangla Nagar, Dhaka. Finance Minister, Mr A M A Muhithwas the Chief Guest and gave away prizes. In addition to the ChiefGuest, others on the dais were, Mr Sheikh A Hafiz, President –SAFA, Mr Komol B Chitracar, Vice President – SAFA, Mr ShabbarZaidi, Adviser – SAFA, Mr Nasir U Ahmed, President ICAB andMr Lasantha Wickramsinghe Chairman, ITAG. Awardees from SAFA member bodies attended and receive prizesfrom the Chief Guest. Highest numbers of awards were received bySri Lank followed by Bangladesh. The programmes ended with acolourful cultural programme reflecting Bangladeshi culture whichwas followed by a grand dinner.

11th SAFA Board Meeting and meeting of Committees 11th SAFA Board meeting was held on the 06th November 2009 atPan Pacific Sonargaon Hotel, Mr Sheikh A Hafiz, FCA PresidentSAFA chaired the meeting, where Mr. Komol B Chitrakar, FCA,Vice President, SAFA and Mr C R Mazumder, FCA ExecutiveSecretary, SAFA were present. In addition to Board meeting, therewere meetings of various Committees of SAFA held on the sameday at the same venue.

69th SAFA Assembly Meeting 69th SAFA Assembly meeting was held on the 06th November2009 at Pan Pacific Sonargaon Hotel with Mr Sheikh A Hafiz, FCAPresident SAFA in the chair, where Mr. Komol B Chitrakar, FCA,

Vice President, SAFA and Mr C R Mazumder, FCA ExecutiveSecretary, SAFA were present.

Dinner in hounour of SAFA delegates President, ICAB invited SAFA delegates at dinner party at SantoorRestaurant in Dhanmondi, Dhaka. Almost all members of SAFAboard and Assembly including President and Vice President, SAFAattended the dinner.

Land for ICAB office building at Chittagong Mr Shawkat Hossain, FCA Vice President accompanied by MrModasser A Siddique, FCA met Chairman ChittagongDevelopment Authority (CDA) to arrange a piece of land for ICABOffice at Chittagong. Mr Hossain reported at the Council that therecould be a possibility of getting a piece of land for ICAB. Councilrequested Mr Showkat Hossain, FCA Vice President to keep theissue live to enable ICAB to get a land from CDA.

Media Coverage of ICAB activities on Prothom AloProthom Alo, the highest circulated Bangla daily covered ICABactivities with due importance on the 21st November 2009, underthe caption “Chartered Accountancy Brittanta”. This is probably forthe first time that any National Bangla daily widely covered ouractivities. This is to be mentioned here that President, ICAB along withSecretary, ICAB had a meeting with Mr Motiur Rahman, Editor,Prothom Alo, in October 2009, made a request to cover ouractivities in a prominent way. He assured us to ensure morecoverage of ICAB events and activities in his news paper. Thiscoverage was the reflection of this meeting.

Attendance at Regional Standard Setters Conference President, ICAB attended the Regional Standards SettersConference at Colombo, Sri Lanka on the 24th November 2009. Hemade a presentation on the status of adoption of InternationalAccounting Standards (IAS) and International Financial ReportingStandards (IFRS) in Bangladesh. Sir David Tweedie, Chairman,International Accounting Standards Board (IASB), was the ChiefGuest at the conference. Representatives from SAFA memberbodies attended the Conference. In addition to attending Regional Standards Setters Conference,President, ICAB also attended Institute of Chartered Accountantsof Sri Lanka’s 50th Anniversary celebration programme inColombo. This programme was inaugurated by Mr MahendraRajapakse, President of Democratic Republic of Sri Lanka. President, ICAB also attended the ICASL Best Published Awardsceremony held in Cinnamon Grand Hotel. President ICAB wasgiven very high honour by ICASL through inviting him to giveaway prizes among the winners. The others who distributed prizeswere Sir David Tweedie, Chairman, IASB and Mr NishanFernando, President, ICASL. Representatives from other SAFAMember bodies also attended this programme.

Election Commission ActivitiesElection to the Council ICAB was held on the 21 November 2009,as per schedule. Out of a total 35 candidates 18 have been electedfrom Dhaka Regional Constituency and 2 members have beendeclared elected uncontested.

Dhaka Regional Constituency The Election to elect 18 Members to the Council of the Institutefrom the Dhaka Regional constituency was held on 21 November2009. The following Members of the Institute were elected:- Mr. Abu Sayed Mohammed Nayeem FCA (Enrl. 353) Mr. Anwaruddin Chowdhury FCA (Enrl. 343) Mr. Muhammed Farhad Hussain FCA (Enrl. 452)

President's Communication – November 2009

Mr. Jamaluddin Ahmed PhD FCA (Enrl. 498) Mr. Nasir Uddin Ahmed FCA (Enrl. 535) Mr. Sheikh Abdul Hafiz FCA (Enrl. 110) Ms. Parveen Mahmud FCA (Enrl. 632) Dr. Md. Abu Sayed Khan FCA (Enrl. 401) Mr. Md. Jainul Abedin FCA (Enrl. 9) Mr. Akhtar Sohel Kasem FCA (Enrl. 328) Mr. Md. Shahadat Hossain FCA (Enrl. 672) Mr. Md. Humayun Kabir FCA (Enrl. 462) Mr. Masih Malik Chowdhury FCA (Enrl. 337) Mr. Md. Syful Islam FCA (Enrl. 615) Mr. Md. Shahjahan Majumder FCA (Enrl. 571) Mr. Abbas Uddin Khan FCA (Enrl. 439) Mr. Md. Abdus Salam FCA (Enrl. 570) Mr. Akhter Matin Choudhury FCA (534) Chittagong Regional Constituency For 02 (two) seats in Chittagong Regional Committee, 02nomination papers were received from 02 (two) candidates. So, noelection was held at Chittagong Regional Constituency. Membersof the Chittagong Regional Committee are as follows: Mr. Nasim Anwar FCA (Enrl. 674) Mr. Showkat Hossain FCA (Enrl. 137)

Dhaka Regional Committee Out of 09 members to be elected, only 07 candidates submittedtheir nomination papers, and they were declared electeduncontested. They are Mr. Imran Ahmed FCA (827), Mr. Md.Mahmud Hossain FCA (Enrl. 833), Mr. Md. Akbar Hossain FCA(Enrl. 767), Mr. Mostafa Kamal FCA (Enrl. 829), Mr. MahmudulHasan Khusru FCA (Enrl. 820), Mr. Md. Golam Kibria FCA(Enrl. 796), Mr. Md. Atikur Rahman FCA (Enrl. 715). Since the number of 07 members elected falls short of the requirednumber of 09 members, actions will be taken for nomination of theremaining 02 members by the incoming Council for 2010-2012, asper Bye-Law 93(2) of the Institute of Chartered Accountants ofBangladesh Bye-Laws 2004.

Chittagong Regional Committee For 05 (five) seats in Chittagong Regional Committee 10nomination papers were received from 05 (five) Candidates.Number of contesting candidates and number of seats are same. So,no election was held. The members were as follows: Mr. Abdul Awal ACA (Enrl. 852 ) Mr. Subrata Kumar Bhowmick FCA (Enrl. 761) Mr. Md. Shaifur Rahman Mazumder FCA (Enrl. 748) Mr. Gopal Bijoy Singh FCA (Enrl. 658) Mr. Sarwar Uddin FCA (Enrl. 779)

Enhancement of Audit Fees We have completed sending most of the request letters to allChairmen & Managing Directors of Listed Companies forenhancement of audit fees of their respective companies. They havealso been requested to make a plan to reach standard ICAB feeschedule within three years time. We have provided them withICAB approved fee schedule for their understanding. We hope thatthis will have a positive impact on enhancement of fees on mediumand long term basis. I have already personally requested President,Association of Listed Companies in Bangladesh, Mr Samson HChowhdury, to allow us an appointment to discuss audit fee issue.He assured me to allow an appointment sometime in December ashe will be out of the country during November. Introduction of Identity Card for Members Issuance of laminated photo identity card for all members is inprogress. We have already requested members to providephotograph and required information to issue ID card to allhonourable members. We had plan to complete this process beforethe year end. However, it may take full January 2010 to complete

this process.

Other key activities of the month- One Council meeting was held on the 1st November mainly to

review the latest status of SAFA Board & Assembly Meeting atDhaka, SAFA BPA & CG Award ceremony to be held at Dhakaon the 05th November 2009.

- SAFA BPA & CG Awards 2008 held its final & last meeting onthe 3rd November 2009 to review the status and giving finaltouch to this important event to be held for the first time inBangladesh. Organizing had put their best efforts to hold thisevent in a colorful manner on the 05th November 2009.

- A meeting of the Article Student Committee on the 9thNovember to dispose off various issues relating to articledstudents.

Activities Planned for December 2009December being the last month of my tenure as President, I triedmy best to accommodate as many events as possible in this month.

Following activities have been planned for November 2009- At least one CPD Seminar would be organized during the

month of December 2009, to make a total of ten CPD Seminarsin Dhaka in addition two 2 technical sessions in the NationalConference making a total of 38 credit hours.

- Two Council meeting before end of the year to resolves variousissues.

- One Executive Committee meeting to dispose off membershipand administrative issues.

- Meeting of the Examination Committee. - Meeting of the Committee for Amendment of CA Order and

Bye-Laws. - Meeting of the Review Committee for Published Accounts &

Reports (RCPAR) - Meeting of the Advisory Committee of ICAB, scheduled on

the 25th December 2009. - Election of President and Vice Presidents for 2010. - 37th Annual General Meeting to be held on the 29th December

2009. - 9th National Best Published Accounts Award 2008 to be held

on the 30th December 2009, in Dhaka. Commerce Minister haskindly consented to grace the event as Chief Guest.

- Launching ceremony of ICAB Information System, scheduledon the 23rd December 2009, where Architect Yeafesh Osman,Hon'ble State Minister, Ministry of Science and Information &Communication Technology, is expected to be present as ChiefGuest.

- Awards Giving Ceremony 2009 for Brilliant Children of ICABMembers

Conclusion While concluding this month’s communication, I beg apology forunusual delay in circulating this month’s Communication mainlydue to Eid holiday and my engagement in one after another eventsat ICAB during December. I hope honorable members would viewthis sympathetically. I know all of us would remain busy through out December 2009and January 2010 to deal with all activities to close the financialyear in many entities. Please take care at your respective place toimprove quality of financial statements and reporting includingrelevant information attached thereto, to build up a new, better andstronger image of Chartered Accountants in the areas we move.

ICAB News Bulletin No. 241

November - 2009 5

Nasir U Ahmed FCA

ICAB News Bulletin No. 241

November - 2009 6

The triennial election of the councilof the Institute of CharteredAccountants of Bangladesh

(ICAB) for the year 2010-2012 was heldon 21st November 2009 at ICABauditorium CA Bhaban, 100 Kazi NazrulIslam Avenue, Kawran Bazar, Dhaka.A total of 35 candidates contested theelection and 18 were elected councilmembers through voting from the Dhakaregion. Two other members of the councilwere earlier elected uncontested from theChittagong region. The election of Dhaka RegionalCommittee and Chittagong RegionalCommittee were also held on the same day.But seven members contesting against 9posts were elected unopposed in the DRC.On the other hand 5 members contestingagainst the same number posts in the CRCwere elected unopposed.The voting started at 8 am and continuedtill 5 pm without any break. The ICABelection commission headed by Mr.Mohammed Toha FCA conducted theelection as Chief Election Commissioner.Other members of the commission were

Mr. Abul Kashem FCA, Mr. M Idris AliFCA, Mr. Qudrate Khuda FCA and Mr.Haradhan Dey FCA. The elected members for the Council 2010-2012 are:Mr. Abu Sayed Mohammed Nayeem FCA,Mr. Anwaruddin Chowdhury FCA, Mr. MFarhad Hussain FCA, Dr. JamaluddinAhmed FCA, Mr. Nasir Uddin AhmedFCA, Mr. Sheikh A. Hafiz FCA, Ms.Parveen Mahmud FCA, Dr. Md. Abu

Sayed Khan FCA, Mr. Md. Jainul AbedinFCA, Mr. Akhtar Sohel Kasem FCA, Mr.Md. Shahadat Hossain FCA, Mr. Md.Humayun Kabir FCA, Mr. Masih MalikChowdhury FCA, Mr. Md. S7yful IslamFCA, Mr. Md Shahjahan Majumder FCA,Mr. Abbas Uddin Khan FCA, Mr. MdAbdus Salam FCA, Mr. Akhter MatinChaudhury FCA and Mr. Showkat HossainFCA. Mr. Nasim Anwar FCA from theChittagong Region.

ICAB holds its Triennial Council Election

Mr. Abul Kashem FCA is declaring the result of ICAB Council Election for 2010-2012 with the presence of Mr. Mohammed Toha FCA, Chief Election Commissioner, Mr. N. I.Chowdhury FCA, Secretary-ICAB and others.

Audience are patiently waiting for the result of election.

ICAB News Bulletin No. 241

November - 2009 7

ICAB President Attends Regional Standard Setters’ Conference

Mr. Nasir Uddin Ahmed FCA, President-

ICAB attended regional Standards

Setters' Conference 2009 and Silver

Jubilee of the ICA-Sri Lanka held on 23-

24 November 2009 at Colombo.

President-ICAB presented a paper titled

"Status of Adoption of International

Accounting Standards (IAS) in

Bangladesh" and International Financial

Reporting Standards (IFRS).

Sir David Tweedie, Chairman,

International Accounting Standards

Board (IASB) was the Chief Guest at

the conference. ICAB President also

attended the ICASL Best Published

Awards Ceremony.

Mr Nasir Uddin Ahmed, President, ICAB was invited as Special Guest, to distribute awards among the winnersat ICASL Best Published Awards 2008 ceremony, where President ICAB gave away prizes. The other guests,who distributed prizes were Sir David Tweedie, Chairman, International Accounting Standards Board (IASB)and President, ICASL.

CRC Delegation meets with CDA Chairman

A 3-member delegation from Chittagong Regional Committee (CRC) headed by Mr.Showkat Hossain FCA, Vice President, ICAB met with Mr. Abdus Salam, Chairman, CDAon 18 November 2009. ICAB delegation discussed various professional issues with theChairman. They gave emphasis to have a own land for Chittagong Regional Committee.The Chairman gave a patience hearing at the delegation and assured them of the land. Other members of the delegation were Mr. Moddassar Ahmed Siddique FCA, Chairman,CRC-ICAB and Mr. Kumar Bhowmick FCA, Hony Secretary, CRC-ICAB.

Date Meetings/Programmes

01.11.2009 Council Meeting3.11.2009 SAFA Organizing Committee of

SAFA BPA & CG Awards 2008

5.11.2009 SAFA Committee meetingSAFA BPA & CG Awards 2008

6.11.2009 SAFA Committee Meeting9.11.2009 Meeting of 3-Member

Sub Committee of ASC

10.11.2009 CPDWD Meeting

21.11.2009 ICAB Council Election 2010

Meetings and Programmes held in the Month of Nov '09

We are inviting articles from our valuedmembers for publishing in the QuarterlyJournal "The Bangladesh Accountant”on the following topics:❑ Capital Market❑ Banking, Finance❑ Taxation❑ Audit Practices

(Local & International)❑ Public Finance❑ Any other topic of interest to our

readersAtttrctive honorarium will be paid for thepublished articles.

Articles Wa n t e d

ICAB News Bulletin No. 241

November - 2009 8

List of New Books Arrival in the ICAB Central Library Sl Author

01. Lal Bahadur

Adhikary Income Tax Manual,

Part – I (As amended up to July, 2009)

02. Lal Bahadur

Adhikary Income Tax Manual, Part – II

(As amended up to July, 2009)

03. Russell

A S H Whitaker’s World of Facts

04. ICAB Study Manual on Information Technology ( PE-I)

05. ICAB Suggested Answers on Information Technology (PE-I)

06. ICAB Suggested Answers on Strategic Management (PE-III)

07. ICAB Suggested Answers on Financial Reporting and

Professional Issues (PE-III)

08. ICAEW Business Strategy (Study Manual)

09. ICAEW Business Strategy (Question Bank)

10. ICAEW Accounting (Study Manual)

11. ICAEW Accounting (Question Bank)

12. ICAEW Business and Finance (Study Manual)

13. ICAEW Business and Finance (Question Bank)

14. ICAEW Financial Reporting (Study Manual)

15. ICAEW Financial Reporting (Question Bank)

16. ICAEW Financial Accounting (Study Manual)

17. ICAEW Financial Accounting (Question Bank)

18. ICAEW Management Information (Study Manual)

19. ICAEW Management Information (Question Bank)

20. ICAEW Assurance (Study Manual)

21. ICAEW Assurance (Question Bank)

22. ICAEW Audit and Assurance (Study Manual)

23. ICAEW Audit and Assurance (Question Bank)

24. ICAEW Financial Management (Study Manual)

25. ICAEW Financial Management (Question Bank)

26. ICAEW Taxation FA2007 (Study Manual)

27. ICAEW Taxation FA2007 (Question Bank)

28. ICAEW Principles of Taxation FA2007 (Study Manual)

29. ICAEW Principles of Taxation FA2007 (Question Bank)

30. O’Leary

Timothy J. Computing Today

31. ACCA Financial Management

32. ICAB Bangladesh Financial Reporting Standards (BFRS) Vol. I

33. MCCI Summary of Taxation Rules in Bangladesh, 2008 – 2009

34. ICAB Suggested Answers on Financial Management (PE-III)

35. ICAB Suggested Answers on Auditing (PE – I)

36. ICAB Bangladesh Financial Reporting Standards

(BFRS) 2008, Volume - 2

Sl Author

37. ICAB Bangladesh Financial Reporting Standards

(BFRS) 2008, Volume - 3

38. ICAB Handbook of Bangladesh Standards on Auditing,

Assurance, and Ethics Pronouncements, Vol. 1

39. ICAB Study Manual on Advanced Financial Accounting

(Government Accounting)

40. DK Cartopia Concise ATLAS of The World

41. ICAB 8th ICAB National Awards for Best Published

Accounts & Reports 2007

42. ICAB Guide for the Students Interested to

Study Chartered Accountancy

43. Nikhil Chandra

Shil Bangladesh Income Tax

44. Basu & Das Theory and Practice of Costing, Vol. I

45. Bhabatosh

Banerjee Cost Accounting : Theory and Practice

46. Uma G.

Gupta Management Information

Systems : A Managerial Perspective

47. BBS Statistical Pocket Book Bangladesh 2008

48. ACCA Financial Management ; Paper F9; Exam Kit

49. ACCA Financial Reporting, Paper F7; Exam Kit

50. ACCA Audit And Assurance ; Paper F 8; Exam Kit

51. ACCA Performance Management, Paper F 5; Complete Text

52. ACCA Financial Accounting, Paper F3; Exam Kit

53. ACCA Financial Accounting, Paper F3; Complete Text

54. ACCA Professional Accounting; Paper P1; Study Text

55. ACCA Advanced Financial Management, Paper P4; Complete Text

56 ACCA Advanced Financial Management, Paper P4; Revision Kit

57. ACCA Corporate Reporting(International), Paper P2; Study Text

58. ACCA Management Accounting, Paper F2; Complete Text

59. ACCA Financial Management, Paper F9; Complete Text

60. ACCA Financial Reporting, Paper F7; Complete Text

61. ACCA Advanced Audit And Assurance, Paper P7; Complete Text

62. ACCA Corporate Reporting, Paper P2; Revision Kit

63. ACCA Professional Accountant, Paper P1; Revision Kit

64. ACCA Audit And Assurance, Paper F8; Study Text

65. ACCA Financial Accounting, Paper F3; Exam Kit

66. ACCA Management Accounting, Paper F2; Exam Kit

67. ACCA Performance Management, Paper F5; Exam Kit

68. Greuning,

Hefnnie Van International Financial Reporting Standards – A Practical

Guide

69. ICAB Study Manual on Financial Management for PE-III

ICAB News Bulletin No. 241

November - 2009 9

BCACP Organizes its Installation Ceremony

Mr. Md. Shahadat Hossain FCA, Vice President-ICAB is seen (3rd from right, setting on dais) in the Installation Ceremony.

Bangladesh Chartered Accoun-tancy Chhatra Parishad (BCACP)organized Installa-tion Ceremony

of its newly elected office bearers for theyear 2008-2010. Mr. Nasir Uddin AhmedFCA, President, ICAB was present in theceremony as Chief Guest. Mr. ABMAzizuddin FCA, Senior Partner,ACNABIN, Chartered Accountants wasthe Special Guest on that ceremony.Mr. Nasir Uddin Ahmed FCA as ChiefGuest said, Chartered Accountancyprofession is one of the most importantprofessions in the world, who arecertifying the financial health of any entityglobally. All major decisions of a corporatebody or entity are based on the certifiedfinancial health of the respectiveorganisation. We, Chartered Accountantsare playing vital role in Economic,Commercial and Industrial development ofthe country. Chartered Accountants aremajor contributor towards development ofmuch talked about “Capital Market” inBangladesh and also in other countries. We

do provide other related services based onthe need and request of the client. BCACPas the organisation of students of CharteredAccountancy is helping ICAB & theprofession to produce brilliant CharteredAccountants in the country. Mr. ABM Azizuddin FCA said, inBangladesh Chartered Accountants areplaying dominant role in the formulation ofstrategies for economic development of theCountry and are expected to play the mostpenetrating role in development stride ofthe Country's economy and providesupport to the poverty reduction strategy ofthe Government.In a message Mr. Shahan Md. Monir(Alamin), Chairman, BCACP said, WTOhas now identified knowledge as thecutting-edge of the new millennium. Thequest of knowledge is perpetual and nowmore emphasized for ensuring professionalcompetitiveness.ICAB office bearers, Past Presidents,BCACP and students were present in theceremony.

We are shocked to inform you that Mr.Atahar Ali FCA (Enrl # 499) a seniormember of the Institute of CharteredAccountants of Bangladesh (ICAB) expiredon 02 November 2009. (Innah Lillahe………… Rajeun). He was 68. During his eventful and illustrious life hedischarged his duties as Chief ofAccountants of Polash Fertilizer Factory atGhorashal and Zia Fertilizer Factory atAshugonj. He was also Controller ofAccounts of BCIC. He was a renowned social worker and wasalways appreciated for his works. Themembers of the Institute expressed deepsorrow at the demise of Atahar Ali andprayed to Almighty Allah, the merciful forsalvation of his departed soul and give thebereaved family the strength and courage tobear the irreparable loss.

Mr. Atahar Ali FCA

We Mourn

ICAB News Bulletin No. 241

November - 2009 10

Snapshots of SAFA BPA CGD Awards 2008

ICAB News Bulletin No. 241

November - 2009 11

Snapshots of SAFA BPA CGD Awards 2008

ICAB News Bulletin No. 241

November - 2009

Chittagong: HBFC Building (3rd Floor), 1/D, Agrabad Com. Area, Chittagong, Bangladesh Tel: 880-31-724674 Fax: 880-31-813579 E-mail: icab@spctctg.netUK Chapter: Suite One, 2 Haydons Road, London SW19 1HL, United Kingdom Tel: 44-020 8544 1234 Fax: 44-020-8544 1400 E-mail:hossain@ahmed13.fsworld.co.ukNorth American Chapter: 5 Massey Square, Suite-2519, Toronto, Ontario M4C 5L6, Canada Tel: 416-686 6760 Fax: 416-916 1091 E-mail: shahed.sharfuddin@td.com

ICAB Council Members 2010 - 2012

Jamaluddin Ahmed PhD, FCA Md. Abdus Salam FCA Md. Shahjahan Majumder FCA Nasim Anwar FCA Md. Jainul Abedin FCA

Sheikh A. Hafiz FCA Showkat Hossain FCA Akhtar Sohel Kasem FCA Masih Malik Chowdhury FCA Anwaruddin Chowdhury FCA

ASM Nayeem FCA Dr Abu Sayed Khan FCA Abbas Uddin Khan FCA M. Farhad Hussain FCA Md Humayun Kabir FCA

Akhter Matin Chaudhury FCA Nasir Uddin Ahmed FCA Md. Syful Islam FCA Parveen Mahmud FCA Md. Shahadat Hossain FCA

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: 880-02-8119399 E-mail: secretary@icab.org.bd Website: www.icab.org.bd