The Institute of Chartered Accountants of India has recently notified steep hike in CA Annual Membership Fees & COP Fees. Both Fees, together work out to Rs.7000 p.a. ( For Senior Members above age 60, Rs.6300).
The question is : Is this Fee Revision warranted ? Does the Institute’s Financial Position justify this ? What is the heavenly need for this hike ? There are several New Entrants to the Profession & senior Members & all do not have a roaring practice or lucrative employment. Why they should be burdened like this ? This would also set a bad precedent for future, as they would be hiking the Fees periodically, whether there is a need or not. If they are planning any specific Project, they can collect one-time contributions.. Also, they can always invite Voluntary Contribution from Willing Members. Another method is to approach Corporates for donations for any useful activities, that would be eligible for CSR Contributions.
Before Fee Revision, they could have elicited the Opinion of Members.Without all these, the sudden hike imposed on Members is not justifiable. Is the Institute starved for Funds ?
Secondly, the In- house Seminars, conducted by the SIRC & other Regional Councils & Branches in own premises, should be nominally priced. I have Illustrative Cost workings to substantiate that an In- house one-day seminar can be conducted by charging just Rs.150 to Rs.200 per Participant, instead of Rs.1000 as at present.
Our Institute should attempt to build Intellectual Reserve of our Members at economic Cost & not aim to build huge Cash Reserves & show a fat Balance Sheet. Ours is an Educational institution & not a Fund- mobilising Social or Recreation Club of HNIs’. Our Institute should be a Role Model for others , through our efficient Cost Management techniques. ( The SIRC Seminars of the Institute of Cost accountants of India, is a delight to watch. Their Seminars are very cost effective & many are with No Delegate Fee, even despite providing Food. It seems that they manage it through Budget allocations from The Central Institute & also through Sponsorships.).)
Can we make this message reach the office bearers of the CA Institute & influence their thinking? If they Reverse the hike or offer Low- cost seminars, it would be of immense benefit to our Members. Can you please convey your reactions through this Forum and/or by sending mail to my Mail ID gvmurugat26@gmail. com.
Let a Large number of people be happy. Thanking You & Wishing God’s grace,
CA V. Gopalswamy, B.Com, FCA, ACMA, ACS., ( FCA 19106).Chennai-600033. (M) +91 94444 56924. 26 02 2017