Dear Professional Colleagues,
It is my pleasure to share some important matters relevant to accounting profession with you.
International Placement Programmes
ICAI believes in lifelong relations with its students and members. For the newly qualified Chartered Accountants we conduct placement programmes twice every year. In the first phase of Campus Placement Programme held at smaller centres 293 job offers were made out of which 226 offers have been accepted. The highest salary, 21 Lakhs per annum, is offered to 9 Candidates.
We also organise a number of special placement programmes to help organisations to find right talent to fit in their structure. A good number of MNCs and other large organisations participate in our placement programmes. For some of the organisations, ICAI is a natural choice to engage finance professionals. However, I personally feel we have potential to help more organisations to fill their vacancies through ICAI.
About fifty-five per cent of our members are in industry. Even practising members are interacting with the business world on a continuous basis. As Alumni of this Institute our members are the brand ambassadors. It is your duty to encourage organisations to meet their personnel requirements through ICAI. Members can also help their organisations to identify positions that are best suited for Chartered Accountants.
You would be glad to know that an international placement programme has been scheduled in the months of November and December, 2015. Members desiring to move abroad will find the programme very useful.
Due Date for filing ITRs and TAR
On account of extraneous factors a number of our members are finding challenges in filing returns of income and the tax audit reports in time. Some of our members have also approached us for help in remedial action. Considering the genuine difficulties the Direct Tax Committee has represented at appropriate levels in the Finance Ministry. The genuine difficulties have also been placed before Hon’ble Union Finance Minister Shri Arun Jaitley Ji in a meeting where I along with Chairman and Vice-Chairman, Direct Taxes Committee and Vice Chairman, Committee on International Taxation explained the concerns.
While we are really hopeful for a positive outcome, we must appreciate that the Government has to take decisions based on several macro factors. We have effectively put across our point of view. At the same time I would request you to put in little extra effort to meet the present due date which is quite near. I am sure you would be able to meet the deadline.
Central Statutory Auditors and Branch Statutory Auditors of Public Sector Banks
In the meeting with the Hon’ble Union Finance Minister, I along with CA. Anuj Goyal, Chairman, Professional Development Committee also explained the inadequacies arising out of the current procedure of appointment of Central Statutory Auditors and Branch Statutory Auditors of Public Sector Banks (PSBs). It was mentioned that the managerial autonomy is correct to the extent of day to day decision making but nowhere the authority to appoint the auditor lies with the persons whose decisions are to be audited. Such delegation in the long run is a great peril to the economy itself. ICAI recommended that appointment of Central Statutory Auditors and Branch Statutory Auditors of Public Sector Banks (PSBs) may be done either by Reserve Bank of India or the C&AG or any other such independent authority. The Hon’ble Finance Minister has assured to look into the matter.
Chartered Accountants Benevolent Fund (CABF)
Recently newspapers and media were inundated with the news and discussions on a business tycoon leaving everything to join a particular spiritual group. It was his desire to do more direct service and give back to the society a little of what he has received in abundance. While there can be diverse opinion and some of us may not subscribe to the idea of such extreme steps, each one of us, however, will certainly agree that we must contribute to the society.
There are people in the society who need our help. Chartered Accountants Benevolent Fund has been created to help ICAI members and their families in case of unfortunate events. Our members are generously contributing towards the fund, however, there is a need to increase the corpus. I appeal to all the members to come forward and donate for the benefit of our brethren and their families. “The simplest acts of kindness are by far more powerful than a thousand heads bowing in prayer” said Mahatma Gandhi. Please click here to contribute right away. – http://www.icai.org/new_post.html?post_id=6301
Swachh Vidyalaya Abhiyaan
Shortly, our country would be completing one year of Swachh Bharat Abhiyaan launched on 2nd October last year coinciding with the birth anniversary of Mahatma Gandhi. As you are aware that ICAI is actively involved in the Abhiyan. We are also involved in Swachh Vidyalaya Abhiyaan under the Ministries of Power, Coal and New & Renewable Energy in the Government of India for the physical verification of the school toilet blocks/units constructed or renovated by Central Public Sector Units within their domain. You would be glad to know that actual physical verification has started. I appeal to the fraternity to join this noble initiative. Please visit www.icai.org/swachh for more details.
Payment of membership fees
In the present fast paced life, we often forget matters of our personal interest. I take this opportunity to remind you about payment of membership fees as only a couple of days are left. The last date for payment of membership fee is September 30, 2015. I appeal to all the members of the CA fraternity to pay membership fee in time. Payment in time will help you to keep the membership status active and scores of other benefit, including knowledge rich Journal, information on ICAI events and programmes. Active status is also important for consideration of appointment for some of the audit assignments such as of Banks. You may please visit http://www.icai.org/memfee.html to make immediate payment
With Best Wishes,
CA Manoj Fadnis
September 25, 2015