January 2011 ISSN 1993-5366 ICAB News Bulletin ICAB News Bulletin No. 255 January 2011 3 M r. Mr. Md. Shahadat Hossain FCA, Vice President, ICAB attended the 72nd SAFA Assembly on

January 2011

Monthly News briefing from the Institute of Chartered Accountants of Bangladesh

ICAB News BulletinNo. 255

MEMBER OF:

International Federation ofAccountants (IFAC)

International Accounting

Standards Board (IASB)

South Asian Federation ofAccountants (SAFA)

Confederation of Asian andPacific Accountants (CAPA)

In This Issue

p Uniform Accounting amust for Energy Sector,says Commerce Ministerat ICAB Seminar

p 72nd SAFA Assembly at Chennai

p Committees of ICAB for 2011

p ICAB Delegation meetswith Finance Secretary

p Office Bearers of CRC-ICAB Elected for 2011

p Library AttendanceJanuary 2011

p IFAC News

p Meetings andProgrammes held in theMonth of January 2011

p DRC-ICAB AnnualPicnic

ISSN 1993-5366

Uniform Accounting a must for Energy SectorSays Commerce Minister at ICAB Seminar

Acccountability of the energy sector shouldbe increased and we need a uniformaccounting system to ensure greater

accountability of the sector. This is a complex issuebecause we are generating electricity using differenttypes of fuel and selling the electricity at differentrates to different users. That is whywe need a uniform system ofaccounting" said the Chief Guest Mr.Muhammad Faruk Khan MP, Hon’bleCommerce Minister, GoB, at a CPDSeminar on Introduction of UniformEnergy Accounting in Bangladeshorganized by the Institute ofChartered Accountants of Bangladesh(ICAB) on 22 January 2011.Mr. Mesbah Ul Alam, Secretary,Ministry of Environment and Forests,GoB, was present as Special Guest.

Mr. K Z Islam FCA, Past President, ICAB,conducted the seminar as Session Chairman.Dr. Jamaluddin Ahmed FCA, Council Member &Immediate Past President, ICAB, presented thekeynote paper.Mr. Muhammad Faruk Khan MP, Hon’ble

Commerce Minister, GoB, said that thepower sector is expanding very fastand a large amount of electricity isgoing to be added to the national gridin the near future. As such there maybe problems with the accounting of thesector if there is no uniform system inplace. Moreover, there are subsidiesand other issues involved in energyaccounting. A clear accounting systemfor this sector is needed. The Minister suggested that this issueneeds further discussion and that

Mr. Muhammad Faruk Khan, MP, Hon'ble Minister for Commerce, GoB, (centre) was present as Chief Guest. Others are - (L-R) Mr.Jamaluddin Ahmed Ph.D, FCA, Member Council and Immediate Past President, ICAB, Paper Presenter, Mr. Mesbah Ul Alam, Secretary,Ministry of Environment and Forests, GoB, Special Guest, Ms Parveen Mahmud FCA, President-ICAB, Mr. K. Z. Islam FCA, PastPresident, ICAB Mr. Md Abdus Salam FCA and Mr. Md. Shahadat Hossain FCA, Vice Presidents, ICAB.

Muhammad Faruk Khan, MPChief Guest

"

ICAB News Bulletin No. 255

January 2011 2

ICAB should organize more discussionswith all stakeholders of the energy sector.He felt that the sector would benefit fromsuch discussions and assured theGovernment’s participation at such events.

Mr. Mesbah UlAlam in his speechsaid that EnergyAccounting Systemis a process forrecording, trackingand reporting theamount and costs ofthe various

consumables used by commercial scalefacilities. It involves the establishment of adata base for storing historical informationon electricity, natural gas, other fuels,water etc. He declared that one cannotmanage what one cannot measure.Accountants should propose a system ofmeasurement that eliminatesinconsistencies and balances limitedresources with unlimited demand. Such asystem should help regulators andadministrators take better decisions.Successful development of the sector ispredicated upon a reliable and rationalaccounting system and accountants havethe capacity to help management tooptimize resource utilisation.Ms. Parveen Mahmud FCA, President ofthe Institute, in her address of welcomesaid that the theme of the seminar is veryimportant in the context of the current stateof the power and energy sector in theCountry. “We are holding this seminar at a

time when theGovernment ofBangladesh isworking to utilize allits resources toachieve its vision toraise Bangladesh toa middle incomeeconomy. The

Government is planning to develop thepower and energy sector through aprogressive regulatory framework toincrease industrialization and raise theGDP growth to at least 8% by 2015. InBangladesh the power and energy sector isgrowing. In this context this CPD Seminaris very timely as the energy companies ofBangladesh suffer from certain limitations.Most government owned companies andcorporations following cash basisaccounting, which is a significant deviationfrom internationally accepted bestaccounting practices and not a fairreflection of financial information. Theselimitations need to be addressed anduniform energy accounting practices mustbe developed to obtain reliable anddependable financial information” sheadded. The President expressed ICAB’sappreciation of Bangladesh Energy andRegulatory Commission’s efforts tointroduce uniform energy accountingpractices. She also welcomed theCommission to collaborate with ICAB tointroduce such uniform accountingpractices.

Dr. JamaluddinAhmed presentedthe paper in whichhe succinctlydescribed theInformation needsfor Public ServiceR e g u l a t i o n ,Uniformity in

Accounting for Energy, Core issues inUniform Energy Accounting, Scope of aRegulatory Accounting System andDevelopment of Uniform EnergyAccounting in Bangladesh

Mr. K Z Islam said“There is nodenying that auniform system ofenergy accounting isneeded. There arediscrepancies andwe have a lot ofproblems withenergy and its

accounting and auditing. It is a fact,though, that it is very difficult to have auniform accounting system in the energysector as energy in Bangladesh is produced

from many differentsources”.Mr. Md. ShahadatHossain FCA, VicePresident, ICABthanked everyonefor participating inthe seminar and forsharing their viewson the topic.

Mr. Mesbah Ul AlamSpecial Guest

ICAB crest presentation to the honourable guests.

Mr. K. Z.. Islam FCASession Chairman

Ms Parveen Mahmud FCAPresident-ICAB

Dr. Jamaluddin Ahmed FCAPaper Presenter

Mr. Md. ShahadatHossain FCA

Vice President-ICAB


January 20113

Mr. Mr. Md. Shahadat HossainFCA, Vice President, ICABattended the 72nd SAFA

Assembly on behalf of ICAB held on 9January 2011. The Assembly was held atHotel Taj Connemara, Chennai, India. President, Vice Presidents, Advisors ofSAFA, Delegates, and Members of theHost Member Bodies of SAFA addressedthe Assembly.Mr. Komal Bdr. Chitracar, SAFA Presidentfor the year 2011, presided over themeeting and formally handed over thePresidency to Mr. A N Raman of ICWAI,the President for the year 2011.In terms of the provisions of theConstitution of SAFA, a Vice Presidentsucceeds the President on 1 January of eachyear. Accordingly, the SAFA Assemblyratified the appointment of Mr. A N Ramanof ICWAI as the new President of SAFAfor a period of one year from 1 January,2011. Representatives of all memberbodies present at the Assemblycongratulated Mr. Raman on hisassumption of the presidency. Mr. KomalChitracar, the outgoing President, SAFA,handed over the SAFA Medallion to Mr. AN Raman, the new President of SAFA, as a

mark of his assumption of office. The Assembly placed on record itsappreciation of the services rendered by theoutgoing President Mr Komal Chitracar.Members noted that, as per the rotationalsystem of holding of office of VicePresident, ICMA Pakistan would take theposition of Vice President and that Mr.Muhammad Rafi, Council Member,ICMAP, had been nominated for this. TheAssembly duly ratified his appointment asVice President, SAFA, from 1st January,2011 and Mr. Muhammad Rafi wascongratulated on his taking the office.The President welcomed the participants tothe 72nd SAFA Assembly. He placed onrecord his thanks and appreciation to theCouncil of ICWAI for nominating him to

SAFA. He thanked SIRC of ICWAI formaking the arrangements for the meetingsof the Assembly. Mr. Chitracar alsothanked all participants for attending themeeting. He said that the mission of SAFAis to keep all Member bodies together. Assuch all the members of SAFA should workunitedly towards a common goal for theirmutual benefit.In his opening remarks, Mr. A N Raman,the new President, stressed on the need forcloser cooperation between internationalaccounting bodies and SAFA. He saidSAFA member countries were poised tobecome the engine of growth for the Worldand as such there is a need for Accountantsfrom SAFA to assert their globalleadership.

72nd SAFA Assembly at Chennai

A view of the 72nd SAFA Assembly Meeting held at Hotel Taj Connemara, Chennai, India. ICAB delegation participated the meeting.

Mr. Md. Shahadat Hossain FCA, Vice President, ICAB (4th from left) attended the assembly on behalf of ICAB.

EXECUTIVE COMMITTEE

Chairperson: Parveen Mahmud FCA

MembersMd. Shahadat Hossain FCANasim Anwar FCAM. J. Abedin FCASheikh A. Hafiz FCAAkhtar Sohel Kasem FCAASM Nayeem FCADr. Jamaluddin Ahmed FCANasir Uddin Ahmed FCA

Member Secretary: Secretary-ICAB

EXAMINATION COMMITTEE

Chairman: Parveen Mahmud FCA

Members

Md. Abdus Salam FCA

Showkat Hossain FCA

Masih Malik Chowdhury FCA

Anwaruddin Chowdhury FCA4

Dr. Md. Abu Sayed Khan FCA

Md. Humayun Kabir FCA

Akhter Matin Chaudhury FCA

Mohammed Mosleh Uddin FCA (22)

ABM Azizuddin FCA (46)

Md. Mustafizur Rahman FCA (218)

Kamrul Abedin FCA (527)


INVESTIGATION & DISCIPLINARY

COMMITTEE

Chairman: A. Hafiz Choudhury FCA

Members

Md. Abdus Salam FCA

Showkat Hossain FCA

Akhtar Sohel Kasem FCA


Dr. Jamaluddin Ahmed FCA

Md. Shahjahan Majumder FCA

Z. U. Ahmed FCA (10)

AKM Rafiqul Islam FCA (30)

A. Rouf Bhuiya FCA (51)

Syed Fazlul Haque FCA (63)

Abul Kashem FCA (74)

C R Mazumder FCA (178)

Md. Amirul Islam FCA (331)

AK Gulam Kibria FCA (392)

Sarwar A Khan FCA (409)

A F Nesaruddin FCA (469)


Ferdous Ahmed Khan FCA (612)

Shama Rukh Alam FCA (724)

Abu Noim Md. Kashem Chowdhury FCA (752)

Shankar Chandra Karmaker ACA (905)

Muhammad Hafizur Rahman ACA (1002)

Krishna Kamal Ghose ACA (1021)

Abdullah Al Mahbub ACA (1086)


ARTICLED STUDENTS COMMITTEE

Chairman: Sheikh A. Hafiz FCA

Members

Md. Shahadat Hossain FCA

M J Abedin FCA

M. Farhad Hussain FCA


Md. Syful Islam FCA

J R Chowdhury FCA (170)

C. R. Mazumder FCA (178)

Md. Nurul Haque FCA (195)


Md. Shafiul Alam FCA (254)

AFM Alamgir FCA (268)

Md. Anisur Rahman FCA (350)

AKM Mizanur Rahman FCA (438)

S M Zakaria Bhuiyan FCA (446)

Tofayel Ahmed FCA (468)

S M Atiar Rahman FCA (574)

Haradhan Dey FCA (620)

Akhtar Sanjida Kasem FCA (643)

Gopal Bijoy Singh FCA (658)

Shib Sankar Saha FCA (702)

Md. Atikur Rahman FCA (715)

Md. Moniruzzaman FCA (787)

Snehasish Barua FCA (894)

Md. Anisuzzaman FCA (896)


TECHNICAL & RESEARCH COMMITTEE

Chairman: Md. Shahadat Hossain FCA

Members

Nasim Anwar FCA

Anwaruddin Chowdhury FCA

ASM Nayeem FCA



Md. Rokonuzzaman FCA (739)

Sabbir Ahmed FCA (770)

Mohammad Mohiuddin Ahmed FCA (800)

Md. Sayeed Ahmed FCA (811)

Mohammad Nesar Uddin FCA (814)

Mahmudul Hasan Khusru FCA (820)

Harun Mahmud FCA (850)

Muhammed Moshiur Rahman FCA (874)

Snehasish Barua FCA (894)

Nanda Dulal Saha FCA (895)

Md. Abdur Rouf ACA (918)

Md. Rokonuzzaman ACA (936)

Sabbir Ahmed ACA (937)

Mohammed Sabir Ahmed ACA (949)

Muhammad Mehedi Hasan ACA (1000)

Md. Yasin Miah ACA (1001)

Maria Howlader ACA (1063)

Abdullah - Al-Mamun ACA (1142)

Zareen Hosein ACA (1152)

Md. Kishlur Rahman ACA (1197)

Md. Lutfar Rahman ACA (1200)


BOARD OF STUDIES

Chairman: ABM Azizuddin FCA

Members

Md. Abdus Salam FCA


ASM Nayeem FCA

Abbas Uddin Khan FCA


Nasir Uddin Ahmed FCA

Md. Syful Islam FCA

Badrul Ahsan FCA (59)

C.R. Mazumder FCA (178)


M A Baree FCA (482)



Akhtar Sanjida Kasem FCA (643)

Md. Harun Or Rashid FCA (697)

Neaz Mohammed FCA (763)

M. Abu Bakar FCA (830)

Mohammad Abdul Ohab Miah ACA (901)

Nayma Meherin ACA (985)

Mohammad Salahuddin Chowdhury ACA (1153)


January 20114

Committees of ICAB for 2011The Standing and Other Committees of ICAB for the year 2011 were approved in a meeting of the Council-ICAB held on 08

January 2011 Details are as follows:

STANDING COMMITTEES-2011

Nazrul Islam ACA (1201)

Chairman, DRC-ICAB

Chairman, CRC-ICAB

Masud Khan , Finance Director, Lafarge Cement

Dr. Reazur Rahman Chowdhury,

Professor, Dhaka UniversityMember Secretary: Secretary-ICAB

QUALITY ASSURANCE BOARD

Chairman: Akhtar Sohel Kasem FCAMembers

Parveen Mahmud FCA







Anil Chandra Nath FCA (53)



Mujibul Huque FCA (180)

A. F. Nesaruddin FCA (469)


Ferdous Ahmed Khan FCA (612)

Ahsan Parvez FCA (624)

Shamsuddin Ahmed FCA (660)

Mohammad Al-Maruf Khan FCA (667)

Md. Raghib Ahsan FCA (689)

Neaz Mohammed FCA (763)


Leena Razzaque FCA (821)

Nusrat Jahan FCA (857)

Mohammed Forkan Uddin FCA (886)

Ajit Kumar Paul ACA (908)

Sabuj Hossain Chowdhury ACA (1119)Member Secretary: Secretary-ICAB

REAL ESTATE COMMITTEEChairman: Dr. Jamaluddin Ahmed FCAMembersMd. Shahadat Hossain FCAMd. Shahjahan Majumder FCAMd. Syful Islam FCAKamal Ziaul Islam FCA (24)Md. Rafiqul Islam Khan FCA (155)Sushil Kumar Basak FCA (166)Shahe Alam Chowdhury FCA (198)Md Ashraf Uddin Ahmed FCA (210)Md. Mukhlisur Rahman Khan FCA (214)Md. Ataul Hoque FCA (255)Md. Hashemuzzaman FCA (257)Md. Anisur Rahman FCA (350)

Azhar Uddin Ahmed FCA (547)

Mohammad Abu Kaiser FCA (626)

Dr. Kalyan Krishna Chakraborty FCA (655)

Md. Harun Or Rashid FCA (697)

Md. Akter Hossain Sannamat FCA (729)

Md Shah Alam Mridha FCA(733)


Syed Sarwar Moorshid ACA (861)

Mohammed Mizanur Rahman FCA (862)

Mohammad Jashim Uddin FCA (869)

Ratna Dutta ACA (992)

Muhammad Mehedi Hasan ACA (1000)

Fouzia Haque ACA (1032)


EDITORIAL BOARD

Chairman: Akhter Matin Chaudhury FCA

Associate Editor: Harun Mahmud FCA (850)

Members

Md. Abdus Salam FCA





Amanullah Khan FCA (56)

Fazle Rabbi Mohammed Hasan FCA (418)


Kazi Ehsanul Huq FCA(581)

Kanai Lal Saha FCA (629)

Md. Harun-or-Rashid FCA (697)

Md. Akbar Hossain FCA (767)


M. Abu Bakar FCA (830)

Mohammed Jashim Uddin FCA (863)

Abu Muhammed Saiful Islam FCA (872)

Md. Abid Hossain Khan ACA (996)

Kishower Amin ACA (1015)

Shafiq Musharrof ACA (1070)

Sujit Kumer Das ACA (1103)


Chairman –DRC-ICAB

Chairman –CRC-ICAB

Secretary: Secretary-ICAB

PROFESSIONAL DEVELOPMENT

COMMITTEE

Chairman: Abbas Uddin Khan FCA

Members

Parveen Mahmud FCA



Md. Syful Islam FCA

K.M. Alam FCA (40)

Anil Chandra Nath FCA (53)

Md. Abu Taleb Talukder FCA (61)

ASM Ataul Karim FCA (66)

Abul Kashem FCA (74)

Muhammed Akram Hussain FCA (91)


ATM Mustafizur Rahman FCA (253)

Kanchi Lal Das FCA (403)

AKM Aminul Hoque FCA (407)

Abdur Razzaque Mollah FCA (422)

Dewan Nazrul Islam FCA (533)

Manoranjan Bhakta FCA (475)

Md. Anisur Rahman FCA (548)

Suraiya Zannath Khan FCA (582)

Md. Mizanur Rahman FCA (592)

Mohammad Hamidur Rashid FCA (607)

Yesmin Sabder Ali FCA (649)

Hassan Imam Patwary FCA (653)

Md. Raghib Ahsan FCA (689)


Amal Krishna Das FCA (802)

Nusrat Jahan FCA (857)

Mohammed Abdur Rahsid ACA (881)

Aminul Bari FCA (885)

Md. Fokrul Islam FCA (890)

Fouzia Hoque ACA (1032)

Shekhar Kumar Halder ACA (1087)

Mohammad Aminul Hoque ACA (1129)


TAXATION AND CORPORATE LAWS

COMMITTEE

Chairman: ASM Nayeem FCA

MembersMd. Shahadat Hossain FCAM J Abedin FCASheikh A. Hafiz FCAMasih Malik Chowdhury FCA Md. Humayun Kabir FCADr. Jamaluddin Ahmed FCAAbul Khair Chowdhury FCA (52)Anil Chandra Nath FCA (53)Md. Mushtaque Ahmed FCA (78)Md. Ashraf Uddin Ahmed FCA (210)Md. Mustafizur Rahman FCA (218)Khundkar Mahmudul Hasan FCA (413)Abu Sayed Mohammad Ali FCA (431)M A Baree FCA (482)Azhar Uddin Ahmed FCA (547)Hasan Mahmood FCA (564)Ferdous Ahmed Khan FCA (612)Abdul Haque FCA (630)Abdul Khalek FCA (646)Md. Akbar Hossain FCA (767)Snehasish Barua FCA (894)Md. Mominul Karim ACA (934)Md. Abid Hossain Khan ACA (996)MBM Lutful Hadee ACA (1006)Mohammad Nazrul Islam ACA (1036) Md. Reajul Islam ACA (1111)Muhammad Aminul Hoque ACA (1129)



January 20115

NON-STANDING COMMITTEES-2011


PROJECT DEVELOPMENT &

IMPLEMENTATION COMMITTEE

Chairman: Md. Abdus Salam FCA

Members

Parveen Mahmud FCA



Md. Syful Islam FCA

Khurrum Hussain FCA (139)

Burhanuddin Ahmed FCA (169)

Enamul Kabir FCA (280)

Md Abdul Ahad FCA (385)

Shah Md Zakaria Bhuiyan FCA (446)

Manoranjan Bhakta FCA (475)

Dewan Nazrul Islam FCA (533)

AKM Shamsul Alam FCA (584)

Hassan Imam Patwary FCA (653)

Abdullah Al Mahmud FCA (818)

Mohammad Syed Bashir Ali FCA (849)

Mahtab Murshed FCA (854)

Nusrat Jahan FCA(857)



Dilip Kumar Mandal ACA (955)

Mohammad Khairul Alam ACA (972)

Dr. ASM Hossain Tayiab ACA (977)

Mahbub Alam ACA (1050)

Bibhuti Bushan Biswas ACA (1088)

Mohammad Khaled Mansur ACA (1145)

Khairul Mobasserin ACA (1188)


SAFA & INTERNATIONAL AFFAIRS

COMMITTEE

Chairman: Nasim Anwar FCA

Members

Sheikh A. Hafiz FCA


ASM Nayeem FCA





Khairul Alam FCA (182)

ATM Mustafizur Rahman FCA (253)

Joarder Nowsher Ali FCA (330)

Sarwar A Khan FCA (409)

Tofayel Ahmed FCA (468)

Prithwish Kumar Roy FCA (504)

Nehal Ahmed FCA (609)

Faroque Ahmed Khan FCA (618)

Abdul Haque FCA (630)

Yesmin Sabder Ali FCA (649)


Ahmed Raihan Shamsi FCA (745)

Debdulal Karmakar FCA (786)

Mohammed Zahirul Kium FCA (887)

Mohammad Motaleb Hossain ACA (950)

Mohammad Mizanur Rahman ACA (987)


Farjana Akter Sadi ACA (1098)Member Secretary: Secretary-ICAB

REVIEW COMMITTEE FOR PUBLISHEDACCOUNTS & REPORTS

Chairman: Mr. Anwaruddin Chowdhury FCAMembers

Md. Abdus Salam FCA


Nasim Anwar FCA


Md. Syful Islam FCA


Md. Anisur Rahman FCA (350)A K Gulam Kibria FCA (392)Hasan Mahmood FCA (564)S M Atiar Rahman FCA(574)Haider Ahmed Khan FCA (576)Md. Mizanur Rahman FCA (592)Faruque Ahmed Khan FCA (618)Akhtar Sanjida Kasem FCA(643)Md. Shah Alam Mridha FCA(733)Faruk Ahammad FCA (825)Mohammed Forkan Uddin FCA (886)Md. Fokrul Islam FCA (890)Md. Anisuzzaman FCA (896)Ajit Kumar Paul ACA (908)Mustaq Ahammed ACA (924)Md. Rokonuzzaman ACA (936)Mohammed Sabir Ahmed ACA (949)Binoy Gopal Roy ACA (965)Fouzia Haque ACA(1032)Afrin Akhter ACA (1073)Member Secretary: Secretary-ICAB

INFORMATION & COMMUNICATIONTECHNOLOGY COMMITTEE

Chairman: Md. Syful Islam FCAMembersParveen Mahmud FCANasim Anwar FCAAkhtar Sohel Kasem FCADr. Jamaluddin Ahmed FCAAkhter Matin Chaudhury FCANasir Uddin Ahmed FCAMd. Shahjahan Majumder FCAAziz Ahmed FCA (380)Ali Ashfaq FCA (509)Dewan Nazrul Islam FCA (533)

Khondker Atique-e-Rabbani FCA (588)

Swadesh Ranjan Saha FCA (718)

Nanda Dulal Saha FCA (895)

Mohammad Abdul Ohab Miah ACA (901)

Sabbir Ahmed ACA (937)

Babul Kumar Saha ACA (962)


Muhammad Hafizur Rahman ACA (1002)

Md. Monirul Islam ACA (1025)

Shah Mohammmad Ashequr Rahman ACA (1045)

Md. Abul Khair Hasanul Hasif Sowdagar ACA (1054)

Palash Ranjan Bhowmik ACA (1060)

Muhammad Mahfuzur Rahman ACA (1061)

Mohammad Nur Nabi ACA (1062)

Md. Humayan Kabir ACA (1074)

Sandip Halder ACA (1079)Member Secretary: Secretary-ICAB

MEMBERS SERVICES & WELFARECOMMITTEE

Chairman: Showkat Hossain FCAMembersParveen Mahmud FCA

Sheikh A. Hafiz FCA




Md. Syful Islam FCA

M A Quader Kabir FCA (47)

Harun-ur-Rashid FCA (312)

Md. Habibur Rahman Mollah FCA (563)

Md. Abul Kashem Majumder FCA (566)


Mia Fazle Karim FCA (614)

Md. Abu Sina FCA (619)

Md. Rafiqul Islam FCA (633)


Syeda Assma Kakoli ACA (813)

Leena Razzaque FCA (821)

Jiban Chandra Das FCA (832)

Mohammed Shakil Choudhury FCA (868)


Md. Fokrul Islam FCA (890)

Md. Abdur Rouf ACA (918)

Muhammed Abul Hashem ACA (964)

Mohammad Redwanur Rahman ACA (999)

Mohammad Masud Bin Majid ACA (1022)

Rokeya Khatun ACA (1150)Member Secretary: Secretary-ICAB

COMMITTEE FOR AMENDMENT OF CAORDER & BYE-LAWS

Chairman: M. Farhad Hussain FCAMembers

M J Abedin FCA

Sheikh A. Hafiz FCA

Showkat Hossain FCA


January 20116



ASM Nayeem FCA



Sultan Ahmed FCA (92)



Md. Enamul Haque Choudhury FCA (471)

Mohammad Hamidur Rashid FCA (607)

Md. Akter Hossain Sannamat FCA (729)Member Secretary: Secretary-ICAB

CONTINUING PROFESSIONAL

DEVELOPMENT COMMITTEE

Chairman: Masih Malik Chowdhury FCA

Members

Showkat Hossain FCA





Md. Syful Islam FCA

Iqbalur Rahman FCA (351)

S M Zakaria Bhuiyan FCA(446)

Md. Mizanur Rahman FCA (592)

Md. Shafiqul Alam FCA (603)

Mohammad Tipu Sultan FCA (661)

Md. Salim Uddin FCA (710)



Debdulal Karmaker FCA (786)

Nayma Meherin ACA (985)

Muhammad Shariful Islam Shiplu ACA (1018)

Shubhankar Shil ACA (1033)

Md. Hasmot Ali ACA (1034)

Mohammad Moniruzzaman ACA (1143)


Mohammad Salahuddin Chowdhury ACA (1153)

Secretary-DRC-ICAB

Secretary-CRC-ICABMember Secretary: Secretary-ICAB

COMMITTEE FOR SMALL AND MEDIUMPRACTITIONERS (SMP)

Chairman: M. Farhad Hussain FCAMembers

Parveen Mahmud FCA




Md. Syful Islam FCA

AKM Aftabul Islam FCA (283)

Syed Abdul Hamid ACA (464)

Quamrul Ahsan Chowdhury FCA (597)

AKM Kamrul Islam FCA (670)

Sidhartha Barua FCA (699)

Md. Eftekhar Ali ACA (910)

Manik Lal Samadder ACA (1109)

Md. Ali Akther Rezvi ACA (1183)

Md. Kishlur Rahman ACA (1197)

ICAB – ICAEW COORDINATIONCOMMITTEEADVISORY COMMITTEE

Chairman: Nasir Uddin Ahmed FCAMembers

Parveen Mahmud FCA

Md. Abdus Salam FCA

ASM Nayeem FCA




Md. Syful Islam FCA


COMMITTEE ON PUBLIC FINANCE ANDPUBLIC SECTOR ACCOUNTING

Chairman: Dr. Md. Abu Sayed Khan FCAMembers

Md. Abdus Salam FCA


ASM Nayeem FCA






AUDIT COMMITTEE

Chairman: Z U Ahmed FCAMembers


Md. Syful Islam FCA


Yesmin Sabdar Ali FCA (649)

Shama Rukh Alam FCA(724)

Md Rokonuzzaman ACA (739)

COMMITTEE ON PROFESSIONALACCOUNTANTS IN BUSINESS (PAIB)

Chairman: Md. Humayun Kabir FCAMembers

Parveen Mahmud FCA

Md Abdus Salam FCA




Qudrate Khuda FCA (191)

Md. Showkat Hossain FCA (196)

Sheikh Farid Ahmed FCA (227)

Syed Abdul Hamid ACA (464)

Prithwish Kumar Roy FCA (504)


Noor-E-Khoda Abdul Mobin FCA (656)

Imtiaz Lutful Baset FCA (663)

Moddassar Ahmed Siddique FCA (722)

Md. Habibullah Monju FCA (759)

Md. Sayeed Ahmed FCA (811)

Mohammed Habibus Samad ACA (819)


Md. Eftekhar Ali ACA (910)

ADVISORY COMMITTEE

Chairman: Md. Mufazzal Hussain

Chowdhury FCACo-Chairman: Zahir Uddin Ahmed FCAMembers

Md. Anowar Hossain Miah FCA

Noor Mohammad Howladar FCA

Md. Jainul Abedin FCA

AKM Mosharraf Hossain FCA

Mohammed Toha FCA

Kamal Ziaul Islam FCA

AKM Rafiqul Islam FCA

Abdul Hafiz Choudhury FCA

Jamal Uddin Ahmad FCA

ABM Azizuddin FCA

M A Quadir Mollah FCA

M A Halim Gaznavi FCA

Howlader Mahfel Huq FCA

Badrul Ahsan FCA

A N Altaf Hussain Siddiqui FCA

Anil Chandra Nath FCA


Md. Anisur Rahman FCA

A K Chowdhury FCA


M A Baree FCA

A K Gulam Kibria FCA


Sheikh A. Hafiz FCA

ASM Nayeem FCA





Ex-officio Members

President

Vice President (E&T)

Vice President (F&A)

Vice President (T&R)


January 20117


January 20118

Adelegation of the Institute of

Chartered Accountants of

Bangladesh (ICAB) led by Ms.

Parveen Mahmud FCA, President, ICAB

called on Dr. Mohammad Tareque, Finance

Secretary at Bangladesh Secretariat on 19

January 2011. She apprised the Secretary

about the various activities and recent

developments of the Institutes particularly

about MoU and some other activities under

this.

She highlighted the role of Chartered

Accountants in the financial scenario of the

country. He urged upon the Secretary to

utilize the professional knowledge and

expertise of Chartered Accountants by

engaging them in Nationalized Banks,

DFIs and other Financial Institutions for

ensuring proper governance and

transparency of financial information of

Banking Institutions. He reiterated the

ICAB’s request for increasing annual grantand some projects to strengthen thecapacity of the Institute. He requested theSecretary to reduce the VAT on Audit andother professional fees.The Secretary, Ministry of Finance gave apatient hearing to ICAB delegates and

assured all possible cooperation.The delegation included Mr. Md ShahadatHossain FCA, Mr. Nasim Anwar FCA,Vice Presidents, ICAB and Ms SuraiyaZannath Khan FCA, Senior FinancialManagement Specialist, The World Bank.

ICAB Delegation meets with Finance Secretary

Dr. Mohammad Tareque, Finance Secretary, GoB, (extreme left) is seen with ICAB delegation.

Office Bearers of CRC-ICAB Elected for 2011

Mr. Subrata Kumar Bhowmick FCAand Mr. Abdul Awal FCA were

elected Chairman and Honorary Secretary,respectively, of the Chittagong RegionalCommittee (CRC)-ICAB for the year2011.The other members of CRC are Mr. GopalBijoy Singh FCA, Mr. Md. Shaifur

Subrata Kumar Bhowmick FCAChairman-CRC

Abdul Awal FCASecretary-CRC

Rahman Mazumder FCA and Mr. SarwarUddin FCA.Mr. Subrata Kumar Bhowmick FCA,son of late Nirode Baran Bhowmick ofBhanga, Faridpur, qualified as a CharteredAccountant in 1999. He completed hisMasters in Accounting from the Universityof Chittagong and has held different seniorand responsible positions in privateorganisations and Government sectors inthe course of his long career. At present heis Senior General Manager (Finance) andAccounts of S. Alam Group, a largeindustrial conglomerate of private, publicand listed companies.. n

Mr. Abdul Awal FCA, son of lateAhsan Ullah and Mrs. Mohsena

Khatun, was born in Companigonj,Noakhali, in 1976, and completed hisM.Com from Jagannath University in

2001. He qualified as a CharteredAccountant in 2004 and became a Fellowof ICAB in 2009. He started his career asFinance Manager of MGH Group and thenjoined Abul Khair Group as Head ofFinance.


January 20119

Sl. # Name of Firm Total1 A. B. Saha & Co. 692 ABBAS KHAN & Co. 03 A Hoque & Co. 84 A Hossain & Co. 05 A K Azad & Co. 416 A K Deb & Co. 197 A Mannan & Co. 08 A Matin & Co. 589 A Qasem & Co. 10710 A T Talukder & Co. 911 A Wahab & Co. 3512 Abu Zaman & Co. 013 ACNABIN 10914 Aftab Ahmed & Co. 915 Ahmad & Akhtar 2016 Ahmed Khan & Co. 2317 Ahmed Mashuque & Co. 5518 Ahmed Shahid & Co. 1919 Ahmed Zaker & Co. 3920 Ahsan Ataul Azim & Co. 021 Ahsan Kamal Sadeq & Co. 422 Ahsan Manzur & Co. 123 Ahsan Rashid & Co. 4924 Ahsan Zamir & Co. 625 Aktar Amir & Co. 026 Alamgir & Idris 827 Alam Chowdhury Mostafa & Co. 2428 Ali Zahir & Co. 129 AMAL & LEENA 1130 Andrew Gomes & Co. 031 Anisur Rahman & Co. 1132 Anwar Ahmed & Co. 033 Asad Zaman & Co. 034 Ashraf Uddin & Co. 635 Ashraful Haque Nabi & Co. 3936 Ata Khan & Co. 137 Atik & Wahid 038 Atik Khaled & Co. 139 Ayub & Mahmood 040 Aziz Halim Khair Chowdhury 7241 Azad Abul Kalam & Co. 042 B Alam & Co. 643 Baree Pear Shafiq Khan 3344 Basu Banerjee Nath & Co. 2945 Bokhteyar Humayun & Co. 3346 C M Alam 047 Chowdhury Arup & Co. 048 Chowdhury Bhattacharjee & Co. 2649 Chowdhury Hossain Rashid & Co. 5150 Das Chowdhury Dutta & Co. 851 Dewan Nazrul Islam & Co. 252 DHAR & Co. 2

Sl. # Name of Firm Total53 Fazlul Hoque & Co. 854 G Biswas & Co. 5355 G Kabir & Co. 4456 G Mostafa & Co. 657 G Nabi & Co. 058 Habib Sarwar & Co. 059 Hafiz Ahmed & Co. 860 Haque Shahalam Mansur & Co. 3661 Hoda Vasi Chowdhury & Co. 16962 Hossen Delwar & Co. 363 Howladar Yunus & Co. 8964 Huda & Co. 365 Huda Hossain & Co. 3966 Hussain Farhad & Co. 3867 Irshadullah Patwary & Co. 5 68 Islam Aftab Kamrul & Co. 4069 Islam Jahid & Co. 270 Islam Quazi Shafique & Co. 4471 J R Chowdhury & Co. 2172 J U Ahmed & Co. 1073 K B Newaz & Co. 2574 K M Alam & Co. 375 K M Hassan & Co. 10776 Kanchi Lal Das & Co. 777 Kazi Zahir Khan & Co. 1478 Khaja Shiraj & Co. 079 Khaleque Jamal Halder & Co. 3080 Khan Ayub 4181 Khan Wahab Shafique Rahman & Co. 3082 M A Fazal & Co. 583 M A Hussain & Co. 284 M A Malek Siddiqul Wali & Co. 1685 M A Quader Kabir & Co. 186 M A Taleb & Co. 187 M A Zaman & Co. 5988 M Abdus Salam & Co. 789 M Ahmed & Co. 190 M Hafiz & Co. 191 M Huque & Co. 092 M I Chowdhury & Co. 7393 M J Abedin & Co. 6394 M M Hossain & Co. 1495 M N Islam & Co. 3496 Mowla Mohmmad & Co. 1297 M R Khan & Co. 1598 M Ruhul Amin & Co. 799 M Z Islam & Co. 16100 Mahbub Mohsin & Co. 12101 Mahfel Huq & Co. 26102 Mandal & Co. 38103 MARHK & Co. 21104 MASH Haque 0

Sl. # Name of Firm Total105 Masih Muhith Haque & Co. 109106 Masud Altaf & Co. 0107 Mijan Rahman Bhuiyan & Co. 12108 Mizan Islam & Co. 0109 Mohammad Ata Aslam & Co. 0110 Mohammed Quddus & Co. 12111 Mohibullah & Co. 31112 Mollah Quadir Yusuf & Co. 15113 Muhammad Shaheedullah & Co. 67114 N Chakraborty & Co. 14115 N K Roy & C67 20116 N L Roy & Co 0117 Nurul Azim & Co. 47118 Nurul Faruk Hasan & Co. 6119 OCTOKHAN 6 120 Pinaki & Company 117121 Quasem Abul & Co. 0122 Rahman Anis & Co. 11123 Rahman Kashem & Co. 58124 Rahman Mostafa Alam & Co. 71125 Rahman Mustafiz Haq & Co. 22126 Rahma Rahman Huq 20127 Rahman Thakur & Co. 12128 Razzaque & Co. 14129 S F Ahmed & Co. 143130 S H Khan & Co. 25131 S K Barua & Co. 49132 S M Zakaria & Co. 2133 S N Meahji & Co. 44134 Sadhan Das & Co. 28135 Saha Mazumder & Co. 81136 Sarwar Salamat & Co. 2137 Shafiq Basak & Co. 32138 Shafiq Mizan Rahman & Co. 3139 Shah Alam & Co. 1140 Shaha & Co. 7141 Shahadat Rashid & Co. 24142 S P Chowdhury & Co. 0143 S Q Khan & Co. 0144 S R Bose & Co. 9145 S R Islam & Co. 5146 Shiraz Khan Basak & Co. 0147 Syful Shamsul Alam & Co. 39148 T Hussain & Co. 0149 Tofayel Ahmed & Co. 7150 Toha Anwar Rouf & Co. 13151 Toha Khan Zaman & Co. 12152 Zahir Ahmed & Co. 18153 ZAHUR & MOSTAFIZ 4154 Zaman Hoque & Co. 146155 Zoha Zaman Kabir Rashid & Co. 54

Total 3767

Library Attendance January 2011Total Attendance was 3767 from the Chartered Accountants firms in the ICAB Central Library during the month of January 2011. The listis given below:


January 201110

IFAC PARTICIPATES IN COSO ADVISORYCOUNCILIFAC was recently invited to participate in the AdvisoryCouncil of the Committee of Sponsoring Organizations

of the Treadway Commission (COSO). The Council will play a keyrole in updating the COSO Internal Control - IntegratedFramework. This initiative is intended to help organizationsworldwide better assess, design, and manage internal control in anincreasingly complex business environment.COSO welcomes the participation of all who are familiar with theFramework to provide feedback on what is still relevant, what ismissing, and what needs to be updated in the current Frameworkvia a brief survey. The survey is available on the COSO websiteand will remain open until January 31, 2011. For more information,see COSO’s press release. Independent Standard-Setting Boards Announce New and Reappointed Members The Public Interest Oversight Board (PIOB) confirmed the new andreappointed members of International Accounting EducationStandards Board (IAESB), International Auditing and AssuranceStandards Board (IAASB), and International Ethics StandardsBoard for Accountants (IESBA). The International Public SectorAccounting Standards Board (IPSASB) also announced its new andreappointed members. The appointments to all four boards,effective January 1, 2011, were recommended by the IFAC Board.New and Reappointed Members of the IAESBThe new members of the IAESB are Chris Austin (UnitedKingdom), a non-practitioner and Country Representative for theUK Department for International Development (DFID) toBangladesh; Nambayo Kalaluka (Zambia), a practitioner in asmall/medium practice; Edward Kieswetter (South Africa), a non-practitioner and the Group Chief Executive of Alexander ForbesEquity Holdings (Pty) Ltd.; and Thomas Orth (Germany), apractitioner in a transnational firm. Kim Langfield-Smith(Australia); Mohammed Saleem Kharwa (South Africa); MarceloCanetti (Argentina); and Hans Christian Krogh (Denmark) werereappointed for an additional term. Ms Karen Pincus wasreappointed as deputy chair of the IAESB. For more informationabout work of the IAESB, visit its homepage.New and Reappointed Members of the IAASBThe new members of the IAASB are Jean Blascos (France), apractitioner in a transnational firm; Jianshen Chen (China), apractitioner in a large national firm; and Merran Kelsall (Australia),a non-practitioner and chair of a national auditing standards setter.John Archambault (United States), Jon Grant (United Kingdom),and Caithlin McCabe (Australia) were reappointed for anadditional term. Diana Hillier (United Kingdom) was alsoreappointed as deputy chair of the IAASB. For more informationabout the work of the IAASB, visit its homepage.New and Reappointed Members of the IESBAThe new members of the IESBA are Felicitas T. Irungu (Kenya), apractitioner in a transnational firm, and Mr. Jörgen Holmquist(Sweden), a public member. Alice McCleary (Australia); Robert

Franchini (Italy); and Isabelle Sapet (France) were appointed for anadditional term. Additionally, Ken Dakdduk (United States) wasreappointed as chair and Michael Niehues (Germany) wasreappointed as deputy chair of the IESBA. For more informationabout the work of the IESBA, visit its homepage.New and Reappointed Members of the IPSASBThe IPSASB welcomes new board member Jeanine Poggiolini(South Africa), a standard-setter at the Accounting StandardsBoard (ASB) in South Africa, as well as the appointment of DavidBean (United States), director, Research and Technical Activities,Governmental Accounting Standards Board as deputy chair.Reappointed board members were Sheila Fraser (Canada) andAnne Owuor (Kenya). For more information about the work of theIPSASB, visit its homepage.OPEN CONSULTATIONS AND EXPOSURE DRAFTSIAASB Proposes New Guidance on Auditing Complex Financial InstrumentsThe International Auditing and Assurance Standards Board(IAASB) released for public exposure International AuditingPractice Statement (IAPS) 1000, Special Considerations inAuditing Complex Financial Instruments. The proposedpronouncement highlights practical considerations for auditorswhen dealing with complex financial instruments. Thepronouncement gives particular emphasis to auditingconsiderations relating to valuation and disclosure issues forfinancial statement items measured at fair value.Along with the proposed IAPS, the IAASB is exposing forcomment proposed changes to the current Preface to theInternational Standards on Quality Control, Auditing, Review,Other Assurance and Related Services (the proposed amendedPreface), which explains the authority of this and future IAPSs. To access the exposure draft or submit a comment, visit theExposure Drafts section of the IAASB website. Comments on theexposure draft are requested by February 11, 2011.IAESB PROPOSES CLARIFIED STANDARD ONCONTINUING PROFESSIONAL DEVELOPMENT The International Accounting Education Standards Board (IAESB)released a proposed revision of International Education Standard(IES) 7, Continuing Professional Development: A Program ofLifelong Learning and Continuing Development of ProfessionalCompetence. IES 7, drafted in 2004, introduces the concepts ofcontinuing professional development (CPD)learning that developsand maintains competence to enable professional accountants toperform their roles effectivelyas relevant, verifiable, andmeasurable learning activities and outcomes. The proposed redrafting aims to assist the ongoing worldwidedevelopment of CPD systems and compliance mechanisms. TheIAESB expects to increase the opportunity for mobility of labor,and in so doing to contribute to the global economy through theserevision efforts. The IAESB invites all stakeholders to comment onits proposals. To access the exposure draft and submit a comment,visit the Exposure Drafts section of the IAESB website. Commentson the exposure draft are requested by March 8, 2011.

IFAC News


January 201111

Date Meetings/Programmes8.1.2011 Council Meeting

14.1.2011 DRC-ICAB Annual Picnic

19.1.2011 Meeting with Secretary, Ministry of Finance

22.1.2011 Council Meeting• CPD Seminar

23.1.2011 Editorial Board Meeting

27.1.2011 Executive Committee Meeting

29.1.2011 Coordination meeting between ICAB President and ICAB Employees

31.1.2011 Council Meeting

Meetings and Programmes held in the Month of Jan 2011We are inviting articles from ourvalued members for publishing in theQuarterly Journal "The BangladeshAccountant" on the following topics:q Capital Marketq Banking, Financeq Taxationq Audit Practices

(Local & International)q Public Financeq Any other topic of interest to our

readersAtttrctive honorarium will be paid forthe published articles.

Articles Wa n t e d

IFAC ADDRESSES THE CONCEPT OF THE PUBLIC INTERESTIFAC has released A Public Interest Framework for theAccountancy Profession (IFAC Policy Position Paper #4) forpublic exposure. This principles-based framework of the publicinterest, which can be applied to standard-setting, governanceprocesses, policy analysis, and regulatory issues, has beendeveloped in order to consider and address issues in theaccountancy profession on a consistent and clearly articulatedbasis. Although mainly designed for use by IFAC itself, it may alsobe useful to the accountancy profession as well as to policymakers,regulators, and business leaders. IFAC considers that the accountancy profession, in serving thepublic interest, should be evaluated against three criteria: 1)consideration of costs and benefits for society as a whole; 2)adherence to democratic principles and processes; and 3) respectfor cultural diversity. These criteria enable IFAC to assess theextent to which any policy, action, process, or condition is in thepublic interest. To access the exposure draft or submit a comment,visit the Exposure Drafts section of the IFAC website. Commentson the exposure draft are requested by March 25, 2011.IAASB ADDRESSES COMPILATION ENGAGEMENTS;EXPOSES ENHANCED STANDARDThe International Auditing and Assurance Standards Board(IAASB) has released for public exposure International Standardon Related Services (ISRS) 4410, Compilation Engagements. Theproposed standard is the first step in the IAASB’s work to createrobust standards for services that can be used by entities that areeither not required or do not elect to be audited to meet theirbusiness reporting needs. Through a compilation engagement,practitioners can provide significant benefit by applying theirexpertise in accounting and financial reporting. This expertise isapplied to assist the management of an entity in preparing andpresenting historical financial information for use by the entity’sinternal or external stakeholders, and it is particularly suited toSMEs and their stakeholders.To access the exposure draft or submit a comment, visit theExposure Drafts section of the IAASB website. Comments on theexposure draft are requested by March 31, 2011.

IAASB INVITES COMMENT ON ITS FUTURESTRATEGY AND WORK PROGRAM; MAKESPROGRESS ON CURRENT INITIATIVES The International Auditing and Assurance Standards Board(IAASB) released for comment its Proposed Strategy and WorkProgram for 2012–2014. The Consultation Paper was developedwith input from the IAASB’s April 2010 strategy survey and otherconsultation and outreach activities. It highlights issues facing theaccounting profession and suggests priority activities for theIAASB during 2012–2014.The strategic areas of focus include developing and revisingstandards and pronouncements; monitoring and facilitatingadoption of those standards; and responding to implementationconcerns and improving the consistency of the standards’ practicalapplication. The IAASB invites all stakeholders to comment on itsproposed strategy and possible actions to implement the proposedstrategy. To access the Consultation Paper or submit a comment,visit the Exposure Drafts section of the IAASB website. Commentson the Consultation Paper are requested by April 4, 2011.IPSASB PUBLISHES INTERNATIONAL PUBLIC SECTOR CONCEPTUAL FRAMEWORK DOCUMENTS FOR COMMENT The International Public Sector Accounting Standards Board(IPSASB) released for comment an exposure draft (ED) and twoConsultation Papers related to its project to develop a ConceptualFramework for the general purpose financial reporting of publicsector entities. The Conceptual Framework is the IPSASB’s keystrategic objective for 2010–2012 and is of fundamentalimportance to the future of global public sector standard setting forat least the next 10–15 years. The Conceptual Framework Exposure Draft 1 (CF-ED1),Conceptual Framework for General Purpose Financial Reportingby Public Sector Entities: Role, Authority, and Scope; Objectivesand Users; Qualitative Characteristics; and Reporting Entity,refines the issues highlighted in a Consultation Paper published in2008 and reflects the IPSASB’s consideration of the responses tothat Consultation Paper. n


January 201112

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: [email protected] Website: www.icab.bd.org

Chittagong: HBFC Building (3rd Floor), 1/D, Agrabad Com. Area, Chittagong, Bangladesh Tel: 880-31-724674 Fax: 880-31-813579 E-mail: [email protected] Chapter: Suite One, 2 Haydons Road, London SW19 1HL, United Kingdom Tel: 44-020 8544 1234 Fax: 44-020-8544 1400 E-mail:[email protected] American Chapter: 5 Massey Square, Suite-2519, Toronto, Ontario M4C 5L6, Canada Tel: 416-686 6760 Fax: 416-916 1091 E-mail: [email protected]

DRC-ICAB Annual Picnic

A day Full ofPleasure

The annual picnic of DRC, ICAB was held on 14January 2011. It was all fun and pleasure for

about 400 picnickers from the Institute who wereenthralled by the natural beauty of the venue-“Rangamatia Water Front” located some 45 km fromDhaka at Gazipur.On the eve of the picnic, Ms Parveen Mahmud FCA,President ICAB delivered a message. In his message,the President said, “ICAB Picnic is an essentialrecreation and serves as a happy and joyous occasionfor all of us. It promotes substantial fellowship andsocial interaction amongst ourselves and our familieswhich go a long way towards strengthening ourprofessional bondage. I am sure, the scenario of“Rangamatia Water Front” will be greatly invigoratingand refreshed us with new zeal of life”.It was a day of “No work and all play” for thepicnickers-the members and employees of ICAB, theirfamilies who immensely enjoyed themselves at the picnicspot while the warmth and beauty of the winter sun madethe ‘pillau rice, mutton rezala and chicken roast withvarious other items absolutely delicious and tasty. The children along with their parents were in greatdelight as they participated in the cultural show andvarious games and sports at the picnic. Everyonelooked happy as they returned home with the setting ofthe sun.

January 2011 ISSN 1993-5366 ICAB News Bulletin ICAB News Bulletin No. 255 January 2011 3 M r. Mr. Md. Shahadat Hossain FCA, Vice President, ICAB attended the 72nd SAFA Assembly on

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