May 2017 ICAB NEWS BULLETIN...Mr. Mostafa Kamal FCA, Mr. Md. Mahamud Hosain FCA, Secretary Major General Muhammad Imrul Quayes (retd.) and Director (Technical) Mr. Mahbub Ahmed Siddique

Monthly News Briefing from the Institute of Chartered Accountants of Bangladesh

ICABICAB NEWS BULLETINMay 2017

Number 331

ISSN 1993-5366

ICAB Organised CFOs Conferences on ‘Evaluation Criteria for SAFA

BPA Award’

he Institute of Chartered Accountants of Bangladesh (ICAB) organised the Conference of Chief Financial Officers

(CFOs) of Banking, Insurance and Non Banking Financial Institutions (NBIs) on 13 May at its Council Hall. Another Conference of Chief Financial Officers (CFOs) of manufacturing, public sectors, NGOs and other entities was held on 14 May 2017 at the same venue.

Co-Chairman of Review Committee of Published Accounts & Reports Md. Shahadat Hossain FCA, ICAB nominated SAFA IT Committee member Dewan Nurul Islam FCA, Council Member & Past President Nasir Uddin Ahmed FCA and Council Member Nesaruddin Ahmed FCA were present in the conference.

ICAB urged the CFOs to maintain proper standards in preparing their annual reports which will be submitted for nomination of the

Award. If any changes are made in the existing criteria, the Institute will inform duly. However, the existing criteria will be applicable on the Financial Statements for the year 2016.

The outcome of conferences will help to garner the "Best Presented Annual Reports" Awards, given by SAFA to maintain continuation of the country's best performance in this region. The Bangladeshi organizations will touch a new height among the SAFA countries by getting highest number of Awards, ICAB expects. The two conferences were arranged for the CFOs to make them well conversant with the SAFA evaluation criteria.

About 30 CFOs of different Banking, Insurance and NBFIs participated in the 1st conference and 25 CFOs of manufacturing, public sectors, NGOs and other entities participated in 2nd conference. They also took proactive part in the discussion.

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ICAB organised CFOs Conferences... Award’

Meeting between ICAB and MRA

Meeting with IDRA

ICPE News

President’s Communi- cation May 2017

Jamaluddin Ahmed and Forkan... programme 07

Blood Donation Program organized... Accountants

Campus News

Permission to Join as Partner

Permission to Start Practice

Permission to train Articled Students

Member’s Achievement

Meeting with Commerce Secretary

Humayun Kabir and Shahadat... on VAT

Shahadat Hossain joins Board... Company Ltd

CRC-ICAB organized ... ‘BAS-12: Income’

We Mourn

Recognition of ICAB Membership by CIPFA, UK

Anwaruddin Chowdhury in CAPA Events...China

Workshop for CA Articled Students

Report on Disciplinary Actions

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May 2017 No. 331

A delegation from ICAB held a meeting with the Member & Acting Chairman of Insurance Development & Regulatory Authority (IDRA) Gokul Chandra Das at his office on 25 May 2017. The members of the ICAB delegation were Council Member Muhammad Farooq FCA, Senior Fellow Members Mohammed Forkan Uddin FCA, Selim Reza FCA, Mohammed Sabir Ahmed FCA,

Mohammad Shibbir Hossain FCA, ICAB Secretary Maj Gen Imrul Quayes (Retd.) and Deputy Secretary Md. Shajahan Siraj. They discussed about various professional matters including audit reports and recruitment of CFOs in Insurance companies. Both the organizations are willing to hold more meetings in future to foster mutual cooperation regarding professional issues.

joint meeting between ICAB and Microcredit Regulatory Authority (MRA) was held on 23 May 2017

at the Conference Room of Microcredit Regulatory Authority office. Baro Mogbazar Ramna, Dhaka. Amalendu Mukherjee, Executive Vice Chairman (EVC) of Microcredit Regulatory Authority (MRA) presided over the meeting while ICAB Council Member & Chairman, Professional Development Committee (PDC) Muhammad Farooq FCA led the ICAB team. Other members of the ICAB team were Secretary Major General Muhammad Imrul Quayes, (Retd.), Members PDC Mohiuddin Ahmed FCA, Fokrul Alam Patwary FCA, Abdullah Al Mamun ACA and Deputy Secretary Md. Shahjahan Siraz.

At the outset, Amalendu Mukherjee, Executive Vice Chairman of Microcredit

Regulatory Authority (MRA) thanked and welcomed the team members of ICAB.

The MRA Executive Vice Chairman informed the ICAB team that they have recently decided to update their list of audit firms. He also said that fresh enlistment of audit firms with MRA is going on. After preparing, the list would be vetted by ICAB, he added. Furthermore, the Chairman informed the ICAB team that they have some observations of the audit report of CA firms.

Muhammad Farooq FCA, team leader of ICAB assured the MRA that the ICAB would extend all out cooperation to MRA regarding the audit of MRA organizations. He said that ICAB would take the initiatives including Workshop for the auditors and prepare an audit guide line for MRA audit.

FROM THE DESK OF CHAIRMAN – EDITORIAL BOARD

Dear Fellow Members & Friends,On the 1st May, we have celebrated the International Workers' Day. The day is observed across the world every year since 1886 commemorating the supreme sacrifices of the workers at Hay Market, Chicago, in the USA for eight-hour working day and upholding the rights of the working class. Working people sacrificed their lives on May 1, 1886.This year’s May Day gives us a more vigour as it is celebrated at a time when the Great Russian Revolution of 1917 marks its centenary celebration. We join the working people who celebrate the May Day all over the world with warmth and encouragement and salute all the working comrades who sacrificed their lives, raised their voices and shed blood and sweat for the human freedom and labour rights.The month of May was also an eventful month, like many other programs ICPE organizes a 25 days long training program on International Financial Reporting standards (IFRS) for 35 senior officials of Bangladesh Bank. This type of training program for the officials like Bangladesh Bank will reach the prominence of ICPE to a new height. This month the Holy month of Ramadan has commenced which is anxiously awaited by all the Muslims. Ramadan holds a special place in Islam and among Muslims because of two major reasons: Firstly, the book of eternal guidance the Holy Quran was revealed upon Prophet Muhammad (PBUH) in this month; secondly, the 30days of fasting in this month lead to the glorious and auspicious occasion of Eid ul Fitr for Muslims.The month is given great importance by Muslims in each part of the world with all the reverence, prestige and dedication it deserves. Allah (swt) said in the Holy Quoran:“O you who believe, fasting is prescribed for you as it was prescribed for those before you, so that you may guard against evil.” (The Holy Quran, 2:183)I take this opportunity to wish all my fraternity every success in your noble endeavour during the sacred month of Ramadan, and hope that the results of such merits would lead to greater happiness, success and the fulfillment of your wishes. Ramadan Mubarak.

Dr. Jamshed S A Choudhury FCA

Meeting with IDRA

Meeting between ICAB and Microcredit Regulatory Authority (MRA)

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May 2017No. 331

ICPE News

Training Program on International Financial Reporting Standards (IFRS)

25 days long training program on International Financial Reporting Standards (IFRS) was organized by

the Institute of Chartered Accountants of Bangladesh (ICAB) for the officials of Bangladesh Bank. A total number of 35 senior officials of Bangladesh Bank participated in the training program. Certificate awarding ceremony of the training program was held on 23 May 2017 at CA Bahaban. Md. Abdul Mannan, Additional Secretary, Ministry of Commerce was the Chief Guest at the ceremony. AKM Aftabul Islam FCA, Director, Board of Directors, Bangladesh Bank chaired the program. Md. Muslem Uddin, Executive Director, Bangladesh Bank was Special Guest while Qazi Enayet Hussain, General Manager, Bangladesh Bank was present as guest. Mostafa Kamal FCA, Vice President-ICAB, Major General Muhammad Imrul Quayes, ndc, psc (retd), Secretary-ICAB, other guests, resource persons of the course and officials of ICAB were present in the program.

Workshop on ICAEW Pathway Membership for ICAB Members

ICAB Centre for Professional Excellence (ICPE) has organized a Workshop on ‘ICAEW Pathway Membership for ICAB

Members’ on 8 May 2017 at ICPE training room. A total number of 120 participants participated in the programme.

ICAB Vice Presidents Mostafa Kamal FCA, Md. Mahamud Hosain FCA, Secretary Major General Muhammad Imrul Quayes ndc, psc (retd.) and Director (Technical). Mahbub Ahmed Siddique FCA were present in the inauguration session of the training.

Justin West, Head of New Business Opportunities was the resource person.

Six month long training on C e r t i f i c a t e Course on I n f o r m a t i o n Systems Audit ( IS Audit) - 1st Batch & 2nd Batch

The six month long training on ‘Certificate Course on Information Systems Audit ( IS Audit)’ -1st & 2nd Batch started from 7 January and 20 March 2017 respectively is going on very successfully.

Resource persons of the training course are Imran Ahmed FCA, Md. Tohidur Rahman Bhuiyan, Mohammed Zahirul Kium FCA, M. A. Qaium Khan, Md. Zahid Iqbal Assurer, Md. Borhanul Islam,

ASM Mahfuz and Mohammad Shahadat Hossain. The course for 1st batch will be ended on 24 June and 2nd batch on 30 October 2017.

Workshop on New VAT Act 2012 and Rules 2016 - Highlights and Challenges

ICAB Centre for Professional Excellence (ICPE) has organized a Workshop on ‘New VAT Act 2012 and Rules 2016 -

Highlights and Challenges’ on May 2017 at ICAB Auditorium. A total number of 60 participants participated in the Workshop.

ICAB President Adeeb Hossain Khan FCA inaugurated the session.

In the concluding session Vice President (E & T) Mostofa Kamal FCA was present and distributed the certificates.

The resource persons of the training were Muhammad Mehedi Hasan FCA and First Secretary, VAT, NBR Dr. Md. Abdur Rouf.

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May 2017 No. 331

Dear Fellow Members,

Assalamu Alaikum and greetings to

you all.

In this month ICAB organised a

number of vigorous trainings and

workshops for the members,

stakeholders and the regulatory

bodies including Bangladesh Bank

and held meetings with ministries

and regulatory bodies to discuss

professional issues.

A 25-day long training programme

on International Financial

Reporting Standards (IFRS) was

organized by ICPE for the officials of

Bangladesh Bank at ICAB Training

Room. A total of 35 senior officials

from the Bangladesh Bank

participated in the programme.

Certificate awarding ceremony of

the training programme was held on

23 May 2017 where Mr. Md. Abdul

Mannan, Additional Secretary,

Ministry of Commerce was the Chief

Guest and Mr. AKM Aftabul Islam

FCA, Director, Board of Directors,

Bangladesh Bank chaired the

programme. Mr. Md. Muslem Uddin,

Executive Director, Bangladesh

Bank was the Special Guest while

Qazi Enayet Hussain, General

Manager, Bangladesh Bank was

present as guest of honour.

ICPE has organized another

Workshop on ICAEW Pathway

Membership for ICAB Members on

8 May 2017 at ICPE training room.

120 members participated in the

programme. ICAB Vice Presidents

Mr. Mostafa Kamal FCA, Mr. Md.

Mahamud Hosain FCA, Secretary

Major General Muhammad Imrul

Quayes (retd.) and Director

(Technical) Mr. Mahbub Ahmed

Siddique FCA were present at the

inauguration session of the training.

Mr. Justin West, Head of New

Business Opportunities, ICAEW was

the resource person. The training

was organized under joint

collaboration programme with

ICAEW.

A workshop on New VAT Act 2012

and Rules 2016 - Highlights and

Challenges was organized by ICPE

on May 2017 at ICAB Auditorium

where 60 members participated. I

inaugurated the first session. At the

end of the workshop ICAB Vice

President Mr. Mostofa Kamal FCA

distributed the certificates to the

trainees. The resource persons of

the training were Mr. Muhammad

Mehedi Hasan FCA and First

Secretary, VAT, NBR Dr. Md. Abdur

Rouf.

The CFOs Conferences on

Evaluation Criteria for SAFA Best

Presented Accounts Award was

organized by ICAB with participation

of the Chief Financial Officers

(CFOs) from Banking, Insurance and

Non Banking Financial Institutions

(NBIs) on 13 May and CFOs from

manufacturing, public sectors,

NGOs and other entities on 14 May

2017 at the Council Hall.

Co-Chairman of Review Committee

of Published Accounts & Reports Mr.

Md. Shahadat Hossain FCA, ICAB

nominated SAFA IT Committee

member Mr. Dewan Nurul Islam

FCA, Council Member & Past

President Mr. Nasir Uddin Ahmed

FCA and Council Member Mr.

Nesaruddin Ahmed FCA were

present in the programme. The

conference was arranged for the

CFOs to make them conversant with

the SAFA evaluation criteria for

ICAB BPA Awards 2016.

Besides, the trainings and

workshops ICAB continues to work

with government and regulatory

bodies to discuss emerging

professional matters. A joint

meeting between ICAB and

Microcredit Regulatory Authority

(MRA) was held on 23 May 2017 at

the Conference Room of Microcredit

Regulatory Authority office. Mr.

Amalendu Mukherjee, Executive

Vice Chairman (EVC) of Microcredit

Regulatory Authority (MRA)

presided over the meeting while

ICAB Council Member & Chairman,

Professional Development

Committee (PDC) Mr. Muhammad

Farooq FCA led the ICAB team.

Other members of the ICAB team

were Secretary Major General

Muhammad Imrul Quayes, (Retd.),

Fellow Members & Members PDC

Mr. Mohiuddin Ahmed FCA, Mr.

Fokrul Alam Patwary FCA and Mr.

Abdullah Al Mamun ACA.

Mr. Mohammad Farooq FCA, team

leader of ICAB assured the MRA that

the ICAB would extend all out

cooperation regarding the audit of

organizations under MRA and would

take the initiatives including a

workshop for the auditors of MRA.

On 28 May 2017a five-member team

nominated by ICAB participated in a

meeting with the Acting

Secretary, Ministry of Commerce

Subhasish Basu on draft Company

Act 2016 at conference room at the

Ministry of Commerce. The

members of the team were ICAB

Council Member & Past President

Mr. Md. Humayun Kabir FCA, Vice

President Mr. Mostafa Kamal FCA,

Council Member Mr. Md. Shahadat

Hossain FCA, Secretary Maj Gen

Imrul Quayes (Retd.), Director

(Technical) Mr. Mahabub Ahmed

Siddique FCA. They placed ICAB’s

proposals regarding the new Act and

discussed matters connected

therewith.

A delegation from ICAB held a

meeting with the Member & Acting

Chairman of Insurance

Development & Regulatory

Authority (IDRA) Gokul Chandra

Das at his office on 25 May 2017.

The members of the ICAB

delegation were Council Member Mr.

Mohammad Farooq FCA, Senior

Fellow Members Mr. Mohammed

Forkan Uddin FCA, Mr. Selim Reza

FCA, Mr. Mohammed Sabir Ahmed

FCA, Mr. Mohammad Shibbir

Hossain FCA and ICAB Secretary

Maj Gen Imrul Quayes(Retd). They

discussed various professional

matters including audit reports and

recruitment of CFOs in Insurance

companies.

We express our deep sorrow at the

sad demise of Mr. Md. Mukhlisur

Rahman Khan FCA (Enrl. No. 214),

President’sCommunication

May 2017

a senior Chartered Accountant and

Proprietor, M R Khan & Co.,

Chartered Accountants who died on

13 May 2017 (Innah Lillahe...

Rajeun). On behalf of the Council I

sent a condolence letter to the

bereaved family and prayed for

eternal pace to the departed soul.

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

May 2017:

Standing Committees:

- 5th Meeting of the Investigation &

Disciplinary Committee (IDC)

was held on 6 May 2017 at 4:00

pm.



was held on 20 May 2017 at

3:00 pm.

- 9th Meeting of the Council was

held on 22 May 2017 at 5:00 pm.

- 2nd Meeting of the Articled

Students Committee (ASC) was


Non-standing Committees:

- 2nd Meeting of the Review

Committee for Published

Accounts & Reports (RCPAR)


pm.

- 4th Meeting of the Taxation and

Corporate Laws Committee

(TCLC) was held on 4 May 2017

at 6:30 pm.

- 2nd Meeting of the Committee for

Amendment of CA Order &

Bye-laws was held on 9 May

2017 at 6:00 pm.

- 2nd Meeting of the Real Estate

Committee (REC) was held on

14 May 2016 at 6:00 pm.

- 1st Meeting of the Committee on

Professional Accountants in

Business (PAIB) was held on 17

May 2017 at 6:00 pm.

- 1st Meeting of the Project

Development & Implementation

Committee (PDIC) was held on

23 May 2017 at 6:00 pm.

- 1st Meeting of the Public Finance

and Public Sector Accounting


3:30 pm.

Standing and Non-standing

Sub-committees:

- 2nd Meeting of the Working

Group of Professional

Development Committee (PDC)

for BSEC, DSE, CSE, RJSC and

BIDA was held on 02 May 2017

at 6:00 pm.

- 1st Meeting of the Working



for Insurance was held on 03

May 2017 at 6:00 pm.

- 3rd Meeting of the Real Estate

Committee (REC)

Sub-committee regarding to

renovation work was held on 14

May 2016 at 4:00 pm.

- 4th Meeting of the 8-Member

Council Sub-Committee

Regarding to Qualifications of

other Institutes/organizations


6:00 pm.




for Tax and VAT was held on 16

May 2017 at 6:00 pm.

- 2nd Meeting of the 10-Member

Articled Students

Sub-committee was held on 17

May 2017 at 6:00 pm.




for Professionals and

C o m b a t i n g / A d d r e s s i n g

Professional Difficulties was


With best wishes.

Adeeb Hossain Khan FCA

President

5

May 2017No. 331



you all.

















































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companies.














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May 2017:





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2017 at 6:00 pm.



14 May 2016 at 6:00 pm.




May 2017 at 6:00 pm.




23 May 2017 at 6:00 pm.




3:30 pm.


Sub-committees:






at 6:00 pm.





May 2017 at 6:00 pm.


Committee (REC)



May 2016 at 4:00 pm.






6:00 pm.





May 2017 at 6:00 pm.


Articled Students


May 2017 at 6:00 pm.








With best wishes.


President

6

May 2017 No. 331



you all.

















































ICAEW.














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therewith.



















companies.














Sub-committees





May 2017:





pm.




3:00 pm.











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at 6:30 pm.




2017 at 6:00 pm.



14 May 2016 at 6:00 pm.




May 2017 at 6:00 pm.




23 May 2017 at 6:00 pm.




3:30 pm.


Sub-committees:






at 6:00 pm.





May 2017 at 6:00 pm.


Committee (REC)



May 2016 at 4:00 pm.






6:00 pm.





May 2017 at 6:00 pm.


Articled Students


May 2017 at 6:00 pm.








With best wishes.


President

7

May 2017No. 331



you all.

















































ICAEW.














Rouf.












































































therewith.



















companies.




Accountancy Age Report

FRC fines PwC £5m over Connaught auditPwC has been “severely reprimanded” and slapped with a record £5m fine by financial watchdog the Financial Reporting Council (FRC), over misconduct relating to their 2009 audit of Connaught.

The FTSE 250 company was a property services group that went into administration in 2010.

Retired PwC audit partner Stephen Harrison was also reprimanded and fined £150,000 for his role in the audit. PwC were also ordered to compensate for the FRC’s Executive Counsel’s legal costs and to make an interim payment of £1.5m.

The FRC found misconduct in three areas: mobilisation costs, long-term contracts and intangible assets.

The Accountancy and Actuarial Discipline Board first announced an investigation in PwC’s audit of Connaught in November 2010. Last year, two former Connaught finance

directors were bannedby the FRC over a £4m accounting misstatement. PwC said in a statement: “Since 2010 when the case began, we’ve worked hard to improve our procedures and processes. Audit quality is of paramount importance to PwC and the FRC’s annual audit quality assessments have shown a trend of improvement in our work over several years.”

FRC investigates PwC over Redcentric auditThe Financial Reporting Council (FRC) has launched an investigation into the conduct of PwC in relation to the audit of IT managed services provider Redcentric plc.

The investigation relates to financial statements for the years ending 31 March 2015 and 31 March 2016.

On 7 November 2016, Redcentric announced that an internal review by the company’s audit committee had found misstated accounting balances, prompting a forensic review of the group’s historic balance sheets by Deloitte and law firm Nabarro. CFO Tim Coleman resigned on 6 November and

was replaced by Peter Brotherton on 28 November.

FRC launches investigation into KPMG’s Rolls-Royce auditThe Financial Reporting Council (FRC) has announced that it has begun an investigation into KPMG’s audit of the financial statements of the Rolls-Royce Group.

The decision follows the approval of a Deferred Prosecution Agreement (DPA) between Rolls-Royce and the Serious Fraud Office (SFO) in January 2017, relating to 12 counts of conspiracy to corrupt, false accounting and failure to prevent bribery.

Under the DPA, Rolls-Royce agreed a UK settlement of £497.25m plus £13m costs. Additional agreements with the US Department of Justice and Brazil’s Ministério Público Federal brought total payment to approximately £671m.

The investigation into KPMG’s audit relates to the financial statements of Rolls-Royce Group for the year ending 31 December 2010, and Rolls-Royce Holdings for the years ending 31 December 2011 to 31 December 2013.

ICAB Past President and Bangladesh Bank Board of Director Dr. Jamaluddin Ahmed FCA and ICAB Fellow Member Forkan Uddin FCA participated NTV's Market

Watch live programme on 31 May 2017. They talked about Capital Market, impact of Islami Bank Ltd. in the market and the National Budget 2017-18.

Blood Donation Program Organized by ACNABIN, Chartered Accountants

ACNABIN, Chartered Accountants organized a blood donation program in co-ordination with Shandhani Dhaka Medical College Unit on 27 April 2017 at ACNABIN premises. The slogan of the program was “Donate blood Save Life’’ about 43 students/staff including 7 (seven) women from ACNABIN donated blood. ACNABIN has been awarded with a “Certificate of Appreciation” from Shandhani Dhaka Medical College Unit as an acknowledgement of the remarkable contribution.

Jamaluddin Ahmed and Forkan Uddin Participated NTV’s Market

Watch Live Programme











Sub-committees





May 2017:





pm.




3:00 pm.











pm.




at 6:30 pm.




2017 at 6:00 pm.



14 May 2016 at 6:00 pm.




May 2017 at 6:00 pm.




23 May 2017 at 6:00 pm.




3:30 pm.


Sub-committees:






at 6:00 pm.





May 2017 at 6:00 pm.


Committee (REC)



May 2016 at 4:00 pm.






6:00 pm.





May 2017 at 6:00 pm.


Articled Students


May 2017 at 6:00 pm.








With best wishes.


President

8

May 2017 No. 331

ICAB Academic Campus NewsThe Pre-examination Classes for Professional Stage-Knowledge Level (15th Batch, Sections: J, K & L), Application Level (14th Batch, Sections: A-C) and Advanced Stage (13th Batch, Section: A) which were started from last 08 March 2017 at ICAB Academic Campus for Examination Session: May-June 2017 ended on 29 May 2017. There were 481 students joining with 159 teachers for the Class Session: March-May 2017.

As a result, the cumulative number of participated students of ICAB under new curriculum has arisen at 12,961, till May 31, 2017.

The regular classes for the students of Professional Stage-Knowledge Level (16th Batch) will commence from Monday, 12 June 2017 at ICAB Academic Campus, 51-53, Kazi Nazrul Islam Avenue, Kawran Bazar Commercial Area, Dhaka-1215. A Notice has already been issued in this regard and all the concerned students are advised to attend the classes at the Campus as per schedule.

On the other hand, Day Time Classes for Knowledge Level (1st Batch) which

were started from 08 March 2017, and closed smoothly on 22 April 2017. Now all students will be appearing in the final exam to be held from 07 June 2017. The schedule for the 2nd Batch of Day Time-Knowledge Level classes will be announced very soon.

Meanwhile, the Mock Exams on "Assurance, Accounting, Taxation-1 & Management Information" for Professional Stage-Knowledge Level students were held on 7, 21, 28 April & 05 May 2017 at ICAB Academic Campus, under the guidance of Dhaka Regional Committee (DRC)-ICAB.

Moreover, the feedback session ensued for 'Taxation-1' and 'Management Information' Mock Exams on 26 May 2017 at Campus. Actually, the omissions and errors found in answers script further means and ways to discover for doing well in the final exams. Matters and techniques were forecasted there, by a- group of resource persons. The concerned examinees, teachers, office bearers and members' council of Institute joined in the session and also made the progframme effective.

Within the month of May 2017, the Hon'ble Vice President (E&T)-ICAB, Mostafa Kamal FCA has visited the ICAB Academic Campus on 5, 12, 19, 23 & 27 May 2017, during the class-hour in the evening shift and Fridays' 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, has mostly been done, and the rest works of mezzanine floor would be completed by July 2017.

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

Resource Persons: ICAB Academic Campus (March-May 2017)Name of Resource Persons(Sections- A of PS-KL-1st Batch, Day Time Classes)

Md Anisuzzaman FCAMd Abdul Wahab Akanda ACABhola Nath Kundu ACANaima Sultana ACAObaidur Rahman FCA Sk. Md Tarikul Islam FCAMuhammad Aminul Hoque FCAK S Omar Faruk FCA Abdul Hamid FCALingkon Mondal FCAMuhammad Mahbub Alam FCAMd Ziaul Alam ACAMohammad Imtiaz Khan FCAAfzal Ahmed ACAMd Sayduzzaman Tuhin ACAAKM Mesbahul Karim ACAMd Mahamud Hosain FCA

Nirmal Chandra Biswas ACATariquzzaman Khan FCADr Md Rizwanul IslamAHM Ariful Islam FCANazmul Hussain Siddique ACA

Name of Resource Persons(Sections- J, K & L of PS-KL-15th Batch, Evening Shift)Md Al- Amin Siddiki FCA Ajit Kumar Paul FCA (GT)Muhammed Moshiur Rahman FCAMd Mustaq Ahmed ACAAbdul Hamid FCALingkon Mondal FCAMohammad Showket Akber FCAMohammad Shafikul Islam ACAMohan Adhikari ACAAbu Hena Mustafa Kamal FCANirmal Chandra Biswas ACATariquzzaman Khan FCA

Syed Mohammed Kowser Hossain Abdulla-Al-Mahmud FCAPalash MallikMd Anisuzzaman FCATasnima Nur ACAG S Ashiqur Rahman Bhuyian FCASheuly Akter ACAAnup Kumar Mukherjee FCAMuhammad Mahbub Alam FCAMohammad Imtiaz Khan FCAAfzal Ahmed ACAMd Jashim Uddin AhmedAbdul Khalek FCAG M Latiful Quader FCAMuhammed Asaduzzaman NurAHM Ariful Islam ACAMazhar KhanMohammed Zakaria FCAMd Faruk Hossain ACAMd Kamruzzaman ACA

Rajib Kumar Saha ACAMashruna Alam Chowdhury ACAMd Fuad Hasan ACAMd Sayduzzaman Tuhin ACAAKM Mesbahul Karim ACAMd Mahamud Hosain FCAAbdul Khalek FCA Mrs Nasreen Begum (GT)Dr Jakerul Abedin Nazmul Hussain Siddique ACAABM Ahasan Ullah

Name of Resource Persons(Sections- A-C of PS-AL-14th Batch)Md Anisuzzaman FCAAbdullah-Al-Mamun FCAMohammad Aminul Hoque FCAMd Amran Hossan ACAGopal Chandra Ghosh FCASabbir Ahmed FCASujan Kumar Saha ACAMd Shafiqul Alam FCAMasud Khan FCA-IndiaMd Ziaul Alam ACAZakir Hossain FCAAnup Kumar Mukherjee FCAMd Lutfar Rahman FCAK M Atiqul Islam ACAMohammed Forkan Uddin FCASnehasish Barua FCAMohammad Abdul Ohab Miah FCAMohammad Zakir HossainMd Amirul Islam FCAYasin Miah FCAAbdulla-Al-Mahmud FCAPalash MallickMohammed Ariful Hoque FCAMd Mahsudur Rahman FCAShafiq Musharrof FCAMd Sarwar Hossen FCAMuhammad Abu Hanif Meah ACAMd Mahamud Hosain FCAMd Abdur Rouf FCAS M Rahmatul Mujeeb FCAMd Abdul Ahad ACAA H Mostafa Kamal KhanDipok Kumar Roy FCARasedul Islam ACASyed Adnan Huda, CFASayeed Ahmed FCAMasud Khan FCA-IndiaSk. Md Tarikul Islam FCAMahmudul Hasan Khusru FCAAbdul Khalek FCAMd Selim Reza FCA

Md Jehad UddinDr Jakerul AbedinMd Md Abdur Rouf (GT)Abdullah Al YousufMohammad Abdul MatinABM Ahasan UllahMAKH Hasif Sowdagar FCAMuhammad Aminul Hoque FCAAjit Kumar Paul FCAMd Kishlur Rahman FCAObaidur Rahman FCAMohammad Redwanur Rahman FCAAnup Kumar Sarker ACAMd Kamruzzaman ACAShahriar Istiaq Halim FCAMohammad Aslam FCAMohammad Nazim Uddin FCAMd Abdur Razzaque FCAShaheduzzaman Choudhury FCAMohammad Anowar Hossain FCABibhuti Bushan Biswas FCAMohammad Imtiaz Khan FCAMd Arshadul Kabir ACARanjan Kumar Bhowmik FCMAMd Reajul Islam FCAJone Kumer Gupta FCAMd Razib Hossain ACAMd Tareq Kamal ACAMd Din Islam Miah FCATariquzzaman Khan FCAMrs Nasreen Begum (GT)Syed Mohammed Kowser HossainMohammad Showket Akber FCAMuhammed Asaduzzaman NurAHM Ariful Islam FCANazmul Hussain Siddique ACAMd Abdullah-Al-Amin ACA

Name of Resource Persons(Sections- A of AS-13th Batch)Gopal Chandra Ghosh FCAMohammad Mehedi Hasan FCAMd Mahamud Hosain FCAMohammed Forkan Uddin FCAImran Ahmed FCASabbir Ahmed FCASnehasish Barua FCAAbdullah-Al-Mamun FCAShahriar Istiaq Halim FCASk. Md Tarikul Islam FCAMasud Khan FCA-IndiaSayeed Ahmed FCASnehasish Barua FCAParul Das FCASujan Kumar Saha ACAWasequl Huq Reagan ACA

Visiting Faculties(for Ongoing Session)

Name of Visiting FacultiesAdeeb H. Khan FCAMostafa Kamal FCAMd Mahamud Hosain FCA Moddassar Ahmed Sidique FCAABM Azizuddin FCAAnwaruddin Chowdhury FCAA S M Nayeem FCA Muhammed Farhad Hussain FCAMd Humayun Kabir FCAMd Syful Islam FCAMd Abdus Salam FCAKamrul Abedin FCAGopal Chandra Ghosh FCA A F Nesaruddin FCAMahmudul Hasan Khusru FCAMasud Khan FCA-IndiaAbdul Khalek FCA Md Amirul Islam FCA Md Akbar Hossain FCA Sabbir Ahmed FCA (E-770) Mohammad Mehedi Hasan FCA Mrs.Nasreen BegumAjit Kumar Paul FCAMd Abdur Rouf Md Abu Bakar FCA Dr. Jakerul Abedin Syed Mohammed Kowser HossainMuhammed Asaduzzaman NurAbdullah Al YousufMd Zakir HossainMd Jehad UddinMd Jashim Uddin AhmedA H Mostafa Kamal Khan

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May 2017No. 331

Announcement(Classes of Next Session)

The New Session (June- August 2017) for the Students of Professional Stage-Knowledge Level (16th Batch) will start from Monday, 12 June 2017 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 attend the classes at Campus as per schedule.

Source: ICAB Campus

Name of Resource Persons(Sections- A of PS-KL-1st Batch, Day Time Classes)

Md Anisuzzaman FCAMd Abdul Wahab Akanda ACABhola Nath Kundu ACANaima Sultana ACAObaidur Rahman FCA Sk. Md Tarikul Islam FCAMuhammad Aminul Hoque FCAK S Omar Faruk FCA Abdul Hamid FCALingkon Mondal FCAMuhammad Mahbub Alam FCAMd Ziaul Alam ACAMohammad Imtiaz Khan FCAAfzal Ahmed ACAMd Sayduzzaman Tuhin ACAAKM Mesbahul Karim ACAMd Mahamud Hosain FCA

Nirmal Chandra Biswas ACATariquzzaman Khan FCADr Md Rizwanul IslamAHM Ariful Islam FCANazmul Hussain Siddique ACA

Name of Resource Persons(Sections- J, K & L of PS-KL-15th Batch, Evening Shift)Md Al- Amin Siddiki FCA Ajit Kumar Paul FCA (GT)Muhammed Moshiur Rahman FCAMd Mustaq Ahmed ACAAbdul Hamid FCALingkon Mondal FCAMohammad Showket Akber FCAMohammad Shafikul Islam ACAMohan Adhikari ACAAbu Hena Mustafa Kamal FCANirmal Chandra Biswas ACATariquzzaman Khan FCA

Syed Mohammed Kowser Hossain Abdulla-Al-Mahmud FCAPalash MallikMd Anisuzzaman FCATasnima Nur ACAG S Ashiqur Rahman Bhuyian FCASheuly Akter ACAAnup Kumar Mukherjee FCAMuhammad Mahbub Alam FCAMohammad Imtiaz Khan FCAAfzal Ahmed ACAMd Jashim Uddin AhmedAbdul Khalek FCAG M Latiful Quader FCAMuhammed Asaduzzaman NurAHM Ariful Islam ACAMazhar KhanMohammed Zakaria FCAMd Faruk Hossain ACAMd Kamruzzaman ACA

Rajib Kumar Saha ACAMashruna Alam Chowdhury ACAMd Fuad Hasan ACAMd Sayduzzaman Tuhin ACAAKM Mesbahul Karim ACAMd Mahamud Hosain FCAAbdul Khalek FCA Mrs Nasreen Begum (GT)Dr Jakerul Abedin Nazmul Hussain Siddique ACAABM Ahasan Ullah

Name of Resource Persons(Sections- A-C of PS-AL-14th Batch)Md Anisuzzaman FCAAbdullah-Al-Mamun FCAMohammad Aminul Hoque FCAMd Amran Hossan ACAGopal Chandra Ghosh FCASabbir Ahmed FCASujan Kumar Saha ACAMd Shafiqul Alam FCAMasud Khan FCA-IndiaMd Ziaul Alam ACAZakir Hossain FCAAnup Kumar Mukherjee FCAMd Lutfar Rahman FCAK M Atiqul Islam ACAMohammed Forkan Uddin FCASnehasish Barua FCAMohammad Abdul Ohab Miah FCAMohammad Zakir HossainMd Amirul Islam FCAYasin Miah FCAAbdulla-Al-Mahmud FCAPalash MallickMohammed Ariful Hoque FCAMd Mahsudur Rahman FCAShafiq Musharrof FCAMd Sarwar Hossen FCAMuhammad Abu Hanif Meah ACAMd Mahamud Hosain FCAMd Abdur Rouf FCAS M Rahmatul Mujeeb FCAMd Abdul Ahad ACAA H Mostafa Kamal KhanDipok Kumar Roy FCARasedul Islam ACASyed Adnan Huda, CFASayeed Ahmed FCAMasud Khan FCA-IndiaSk. Md Tarikul Islam FCAMahmudul Hasan Khusru FCAAbdul Khalek FCAMd Selim Reza FCA

Md Jehad UddinDr Jakerul AbedinMd Md Abdur Rouf (GT)Abdullah Al YousufMohammad Abdul MatinABM Ahasan UllahMAKH Hasif Sowdagar FCAMuhammad Aminul Hoque FCAAjit Kumar Paul FCAMd Kishlur Rahman FCAObaidur Rahman FCAMohammad Redwanur Rahman FCAAnup Kumar Sarker ACAMd Kamruzzaman ACAShahriar Istiaq Halim FCAMohammad Aslam FCAMohammad Nazim Uddin FCAMd Abdur Razzaque FCAShaheduzzaman Choudhury FCAMohammad Anowar Hossain FCABibhuti Bushan Biswas FCAMohammad Imtiaz Khan FCAMd Arshadul Kabir ACARanjan Kumar Bhowmik FCMAMd Reajul Islam FCAJone Kumer Gupta FCAMd Razib Hossain ACAMd Tareq Kamal ACAMd Din Islam Miah FCATariquzzaman Khan FCAMrs Nasreen Begum (GT)Syed Mohammed Kowser HossainMohammad Showket Akber FCAMuhammed Asaduzzaman NurAHM Ariful Islam FCANazmul Hussain Siddique ACAMd Abdullah-Al-Amin ACA

Name of Resource Persons(Sections- A of AS-13th Batch)Gopal Chandra Ghosh FCAMohammad Mehedi Hasan FCAMd Mahamud Hosain FCAMohammed Forkan Uddin FCAImran Ahmed FCASabbir Ahmed FCASnehasish Barua FCAAbdullah-Al-Mamun FCAShahriar Istiaq Halim FCASk. Md Tarikul Islam FCAMasud Khan FCA-IndiaSayeed Ahmed FCASnehasish Barua FCAParul Das FCASujan Kumar Saha ACAWasequl Huq Reagan ACA

Visiting Faculties(for Ongoing Session)

Name of Visiting FacultiesAdeeb H. Khan FCAMostafa Kamal FCAMd Mahamud Hosain FCA Moddassar Ahmed Sidique FCAABM Azizuddin FCAAnwaruddin Chowdhury FCAA S M Nayeem FCA Muhammed Farhad Hussain FCAMd Humayun Kabir FCAMd Syful Islam FCAMd Abdus Salam FCAKamrul Abedin FCAGopal Chandra Ghosh FCA A F Nesaruddin FCAMahmudul Hasan Khusru FCAMasud Khan FCA-IndiaAbdul Khalek FCA Md Amirul Islam FCA Md Akbar Hossain FCA Sabbir Ahmed FCA (E-770) Mohammad Mehedi Hasan FCA Mrs.Nasreen BegumAjit Kumar Paul FCAMd Abdur Rouf Md Abu Bakar FCA Dr. Jakerul Abedin Syed Mohammed Kowser HossainMuhammed Asaduzzaman NurAbdullah Al YousufMd Zakir HossainMd Jehad UddinMd Jashim Uddin AhmedA H Mostafa Kamal Khan

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May 2017 No. 331

Permission to Join as PartnerMohammed Abdul Alim ACA (1532) & Reza Humayun Morshed Hayat ACA (1064) have been permitted to form partnership and continue practice under the name and style of:

Name Effective DateM/s. Mohammad Ata Karim & Co. 25 April 2017Chartered Accountants87, Purana Paltan LinePaltan Tower (7th Floor)Suite #706, Dhaka-1000

The other partner of the Firm: ASM Ataul Karim FCA (66) and AH Mostafa Kamal ACA (1500).

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 DateReza Humayun Morshed Hayat ACA (1064) 25 April 2017PartnerMohammad Ata Karim & Co.,Chartered Accountants87, Purana Paltan LinePaltan Tower (7th Floor)Suite # 706, Dhaka-1000

Mohammed Abdul Alim ACA (1532) 25 April 2017PartnerMohammad Ata Karim & Co.Chartered Accountants87, Purana Paltan LinePaltan Tower (7th Floor)Suite # 706, Dhaka-1000

Permission to train Articled StudentsThe following members have been granted permission to train Articled Students with effect from the dates mentioned against their names:

Name Effective DateMohammad Fakhrul Alam Patwary FCA 12 March 2017PartnerM Z Islam & Co.Chartered AccountantsChamber 10(4-7)Eastern View (10th floor)50, DIT Extension RoadNaya Paltan, Dhaka-1000

Md. Shamsur RahmanFCA 15 March 2017PartnerNurul Faruk Hasan & Co.Chartered AccountantsBranch OfficeVertex Prominent (1st floor)GA 16/1, Mohakhali, Dhaka-1212

Change of Office AddressName and New Address Effective DateM/s. Rahman Rahman Huq 16 May 2017Chartered AccountantsMakkah Madinah Tower (13th Floor)78, Agrabad C/A, Chittagong

Member’s Achievement

Dr. Chowdhury Mohammad Wasiuddin FCA (Enrolment No. 1019) has been appointed as Chief Executive Officer (CEO) of Padma Islami Life Insurance Ltd recently.

He has been working as Chief Financial Officer (CFO) and Financial Consultant/Adviser in different organizations, and gathered vast experiences in the fields of designing accounting system, project management, project financing through debt and equity, business negotiation and regulatory Compliance, etc. He also actively participated in various prestigious seminars, training programs, conference and workshops in home and abroad.

Dr. Chy. Mohammad Wasiuddin FCA

Mohammod Masud Rana FCA (Enrolment No. 773) has been appointed as Chief Financial Officer, Standard Chartered Bank, Bangladesh recently. Mr. Masud joined the Bank in 2006 as Financial Controller. Before joining Standard Chartered, he worked for MJ Abedin & Co. and SF Ahmed & Co. as Manager Audit & Assurance.

Mohammod Masud Rana FCA

Muraheb Malik Chowdhury FCA (Enrolment No. 1186) FCCA, ACA (ICAEW) have joined Board of Directors of Janata Capital & Investment Ltd (JCIL) recently. Mr. Chowdhury is a partner of Masih Muhith Haque & Co., Chartered Accountants & a faculty with ICAB Academic Campus. He attended many seminars, workshops & conferences at home & abroad. He serves ICAB as member in few committees.

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May 2017No. 331

CRC-ICAB Organized Workshop on ‘BAS-12: Income’

ICAB Council Member and Past President & Chairman, Taxation & Corporate Laws Committee Md. Humayun Kabir FCA and Council Member Md. Shahadat Hossain FCA participated in a roundtable organised by The Daily Star on 13 May 2017 at its office on the proposed VAT law and its implications on the economy. Country's renowned economists, business analysts and policy makers also participated in the programme. Mahfuz Anam, editor and publisher of The Daily Star, moderated the discussion.

The Chittagong Regional Committee (CRC) of ICAB organised a workshop on ‘BAS-12: Income’ on 13 May 2017 at Agrabad Hotel, Chittagong.Md. Mahamud Hosain FCA, Vice President (F&A), ICAB and consultant, World Bank conducted the session as Session Chairman.M. Moddsssar Ahmed Siddique FCA, Vice President (Technical), ICAB and Group CFO, KDS Group presented the Keynote paper in the programme.

Humayun Kabir and Shahadat Hossain Participated in Daily Star Roundtable Discussion on VAT

We MournMd. Mukhlisur Rahman Khan FCA (Enrl. No. 214), a senior Chartered Accoun-tant and Proprietor, M R Khan & Co., Chartered Accoun-tants died due to heart attack at Khidmah Hospital on 13 May 2017. (Innah Lillahe... Rajeun). He was 76. He left behind his wife and 4 sons.

On behalf of the Council of ICAB, President Adeeb Hossain Khan FCA sent a condolence letter to the bereaved family and sought eternal peace to the departed soul.

Md. Mukhlisur Rahman Khan FCA

Md. Shahadat Hossain FCA, Council Member of ICAB, has been nominated as Director of the Board of Agrani SME Financing Company Ltd recently. Agrani SME Financing Company Ltd is a subsidiary of Agrani Bank Ltd. His nomination was made by the Board of Directors of Agrani Bank Limited. Mr. Hossain is also a Partner of FAMES &R, Chartered Accountants.

Md. Shahadat Hossain FCA

A five-member team nominated by ICAB participated in a meeting with the Acting Secretary, Ministry of Commerce Subhasish Basu on draft Company Act 2016 held at conference room at the Ministry of Commerce on 28 May 2017. The members of the team were ICAB Council Member & Past President Md. Humayun Kabir FCA, Vice President Mostafa Kamal FCA, Council Member Md. Shahadat Hossain FCA, Secretary Maj

Gen Imrul Quayes (Retd.), Director(Technical) Mahabub Ahmed Siddique FCA. In the meeting ICAB placed its proposals regarding the new act and discussed the matters connected therewith. The Commerce Secretary gave a patient hearing to the ICAB’s opinions and said relevant points emanated from the discussion would be helpful to prepare a pragmatic Company Act for the country.

Shahadat Hossain joins Board of Directors of

Agrani SME Financing Company Ltd

Meeting with Commerce Secretary

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May 2017 No. 331

The members of the Institute of Chartered Accountants of Bangladesh (ICAB) are eligible to apply for membership of The Chartered Institute of Public Finance and Accountancy (CIPFA) - the globally recognised membership body for the public sector.

Being a member of CIPFA will increase ICAB Members current professional status, respecting the relationship the members have with ICAB and provide additional services and support ICAB Members work in the public services and pave the way for strong public financial management in Bangladesh.

Please note: CIPFA only accept applications where ICAB membership was attained through examination.

Eligibility for CIPFA membership

To apply applicant must be a member of ICAB, in good standing and with relevant work experience in the public sector, as outlined below:

• ICAB membership was attained through examination is the first criteria

• ICAB members have five or more years post-qualification public sector experience* –full Membership of CIPFA as Chartered Public Finance Accountant (CPFA).

• ICAB members have fewer than five years post-qualification public sector experience* - Affiliate member of CIPFA (CIPFA Affil).

• ICAB members are a member in good standing with a good disciplinary record and no outstanding complaints against him.

*Work experience in the public sector

Public Service Experience' can be clarified by mutual understanding

between ICAB and CIPFA. However, both ICAB and CIPFA agree that Public Sector is broadly ‘Government (central or local)’, including either national, provincial, local level, or any organisation that provides or works with public services i.e. state owned enterprises. Public sector experience can be achieved by any involvement with Public Sector either as employment or consultants or auditor or through advisory services or by any means.

Annual membership

• CIPFA full membership fee – GBP £75.

• CIPFA Affiliate membership fee – GBP £60.

* If ICAB members are awarded CIPFA Affiliate membership, or working in non-public sector, the members can

gain CIPFA status by successfully completing exams from the CIPFA qualification. ICAB members taking these exams pay no application or exemption fees and are exempted from CIPFA workplace practical experience requirements.

Detail information to application for direct route to CIPFA Membership is available at the following link:

http://www.cipfa.org/forms/accelerated-membership-form-2015

For more details, please visit: https://www.cipfa.org/join/joining-from-another-membership organisation# collapse_cbb281ab686f42028c5d0a6c4777ae3f

Please also find attached a Brochure detailing above CIPFA-ICAB agreement developed by CIPFA, UK.

Recognition of ICAB Membership by CIPFA, UK

CIRCULAR(List of Members & Firms for 2017-2018)

ALL HONOURABLE MEMBERS OF THE INSTITUTE

We have pleasure in informing all members of ICAB that institute plans to publish the List of Members & Firms 2017-18 with the photographs of the members very soon.

All members, who are yet to send their photographs, are requested to kindly send their recent PP Size colour Photograph mentioning name & membership enrollment number on the opposite side of the photograph or send a soft copy through e-mail: [email protected] or [email protected] to ICAB IT Department by 25 June 2017.

Your cooperation is our asset.

Maj Gen Muhammad Imrul Quayes (Retd.)Secretary-ICAB

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May 2017No. 331

Anwaruddin Chowdhury, Member

Council and Past President ICAB,

Director CAPA Board and Member

IPSASB CAG, participated in CAPA

Meetings & Events hosted by the

Chinese Institute of Certified Public

Accountants (CICPA) from 25 May

to 27 May 2017 at Haidian District,

Beijing, China.

He participated in Public Sector

Financial Management (PSFM)

Committee meeting on 25 May,

Members Meeting & AGM on 26

may , Board Directors Meeting on 27

May 2017. High power Delegates

from Australia, Canada, India,

Japan, Korea , Nepal, New Zealand,

Pakistan, Sri Lanka and USA also

participated in the events.

Report on Disciplinary ActionsThe Council-ICAB has taken disciplinary actions against some of its Members on 29 March 2017 based on the recommendation of the Investigation & Disciplinary Committee (IDC). The summary of those disciplinary actions is as follows:

Cases Basis of Investigation Summary of Findings Disciplinary Actions Effective

DateCase # 01:Toha Anwar Rouf & Co,Chartered Accountants

Recommendation of QAB based on the report of QAD

Mr. Khairul Islam Khan ACA (Enrolment No.1258)The Council-ICAB found Mr. Khairul Islam Khan ACA guilty of professional misconduct under clauses # 04, 07 and 08 of Part-II of Schedule-C, Part-II of ICAB Bye-laws 2004 for: declaring and showing himself as a

practicing member of ICAB despite having fulltime engagement with Evince Textile Ltd;

giving falsified and misleading information to the Institute regarding his engagement to get Certificate of Practice (CoP) and discrediting the image of Chartered Accountancy profession; and

cheating with the Chartered Accountancy Profession as well as failing to act as a Chartered Accountant with the required sincerity and utmost value & image of this dignified profession.

The Council-ICAB decided to:

Decision-1: impose monetary penalty of Tk. 50,000 (Fifty thousand) upon Mr. Khairul Islam Khan ACA (Enrolment No.1258).

On non-payment of penalty amount within 03 (three) months from the date of communication, his membership with ICAB shall be suspended for a period of 01 (one) year from the date of expiry of three months.

18.05.17

Anwaruddin Chowdhury in CAPA Events, Beijing, China

The Chittagong Regional Committee (CRC) of ICAB organised a workshop on ‘BAS-12: Income’ on 13 May 2017 at Agrabad Hotel, Chittagong.

Md. Mahamud Hosain FCA, Vice President (F&A), ICAB and consultant, World Bank conducted the session as Session Chairman.

M. Moddsssar Ahmed Siddique FCA, Vice President (Technical), ICAB and Group CFO, KDS Group presented the Keynote paper in the programme.

Workshop for CA Articled Students

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May 2017 No. 331


DateMr. M.M. Abdur Rouf FCA (Enrolment No. 123)The Council-ICAB found Mr. M.M Abdur Rouf FCA partner of Toha Anwar Rouf & Co, Chartered Accountants, guilty of professional misconduct under clauses # 21, 24, 25 and 29 of Part-I of Schedule-C, Part-II of ICAB Bye-laws 2004 for:

giving falsified and misleading information to the Institute regarding the employment of Mr. Khairul Islam Khan ACA (Enrolment No.1258) to get CoP of Mr. Khairul Islam Khan ACA and to show the Chartered Accountants Firm ‘Toha Anwar Rouf & Co’ as a partnership;

cheating with the Chartered Accountancy Profession as well as failing to act as a Chartered Accountant with the required sincerity & integrity and also utmost value & image of this dignified profession;

not complying with the requirements regarding the student allowances under bye-law 115(3) and related circulars under reference 1/15/ICAB-2010 dated 28 June 2011 and 03 October 2011; and

not complying with the requirements of BSQC-1 and ICAB circular # 1/15/ICAB-2009 dated 17.06.2016;

Decision-2:suspend the membership of Mr. M.M Abdur Rouf FCA (Enrolment No. 123) with ICAB for 02 (two) years and also to impose monetary penalty of Tk. 200,000 (Two lac) upon Mr. M.M Abdur Rouf FCA with immediate effect.

On non-payment of penalty amount within 03 (three) months from the date of communication, the membership suspension period of Mr. M.M Abdur Rouf FCA shall be extended by one more year.

18.05.17

Case # 02:Islam Quazi Shafique & Co, Chartered Accountants


The Council-ICAB found the partners of the firm guilty of professional misconduct under clauses # 21, 24, 25 and 33 of Part-I of Schedule-C, Part-II of ICAB Bye-laws 2004 for: not complying with the requirements under

Article 7 of the Bangladesh Chartered Accountants order 1973 as Mr. Abu Taher FCA (Enrolment No. 94) and Mr. AKM Monirul Haque FCA (Enrolment No. 1135) were continuing public practice as a Chartered Accountants without having valid Certificate of Practice (COP) for the year 2014-2015 and 2015-2016;

not complying with the requirements of student allowance as per bye-law 115(3) and related circular under reference 1/15/ICAB-2010 dated 28 June 2011 and 03 October 2011; and


The Council-ICAB decided to:

Decision-1: impose monetary penalty of Tk. 100,000 (One Lac) upon Islam Quazi Shafique & Co, Chartered Accountants.

On non-payment of penalty amount within 03 (three) months from the date of communication, membership of the partners of the firm with ICAB shall be suspended for a period of 01 (one) year from the date of expiry of three months; and

Decision-2: to impose monetary penalty of Tk. 50,000 (Fifty Thousand) each upon Mr. Abu Taher FCA (Enrolment No.94) and Mr. AKM Monirul Haque FCA (Enrolment

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May 2017No. 331


DateNo.1135), partners of the firm for continuing professional practice without having Certificate of Practice (COP) for the year 2014-2015 and 2015-2016. On non-payment of penalty amount within 03 (three) months from the date of communication, their membership with ICAB shall be suspended for a period of 01 (one) year from the date of expiry of three months.

Case # 03:MS Hoque & Co, Chartered Accountants


The Council-ICAB found Mr. Md. Shamsul Hoque FCA (Enrolment No. 153) guilty of professional misconduct under clauses # 21, 24, 25 and 33 of Part-I of Schedule-C, Part-II of ICAB Bye-laws 2004 for:

not complying with the requirements under Article 7 of the Bangladesh Chartered Accountants order 1973 as Mr. Md. Shamsul Hoque FCA was continuing public practice as a Chartered Accountant without having valid Certificate of Practice (COP) for the year 2013-2014 and 2014-2015;

continuing public practice as Chartered Accountants without complying with the Council Directives # 1.14 dated 11 June 2002 regarding prescribed minimum requirements for office premises;

not complying with the requirement of student allowance as per bye-law 115(3) and related circular under reference 1/15/ICAB-2010 dated 28 June 2011 and 03 October 2011; and

not complying with the requirements of BSQC-1 and ICAB circular # 1/15/ICAB-2009 dated 17.06.2016.

The Council-ICAB decided to impose monetary penalty of Tk. 200,000 (Two Lac) only upon Mr. Md. Shamsul Haque FCA (Enrolment No. 153), Proprietor of the firm.

On non-payment of penalty amount within 03 (three) months from the date of communication, his membership with ICAB shall be suspended for 02 (two) years.

Case # 04:Arif Hussain & Co, Chartered Accountants


The Council-ICAB found Mr. Arif Hussain FCA guilty of professional misconduct under clauses # 12, 21, 24, 25, and 33 of Part-I of Schedule-C, Part-II of ICAB Bye-laws 2004 for: not carrying out the audit in accordance

with ICAB rules and regulations as well as for not keeping proper audit working paper files;

accepting audit clients without audit appointment letter or with appointment letter where audit fee was not mentioned;

The Council-ICAB decided to impose a monetary penalty of Tk. 200,000 (Two lac) upon Mr. Arif Hussain FCA (Enrolment # 244) with immediate effect.

On non-payment of penalty amount within 03 (three) months from the date of communication, the membership of Mr. Arif Hussain FCA (Enrolment # 244) of ICAB shall be

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May 2017 No. 331

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


Date not paying student allowance as per bye-

law # 115 (3) and related circular under reference 1/15/ICAB-2010 dated 28 June 2011 and dated 03 October 2011.

suspended for a period of 02 (two) years from the date of expiry of three months.

Case # 05:S R Islam & Co, Chartered Accountants


The Council-ICAB found Mr. Sarder Rabiul Islam FCA guilty of professional misconduct under clause # 21, 24 and 25(i) of Part-I of Schedule-C, Part-II of ICAB Bye-laws 2004 forcontinuing practice for the year 2013-14 and 2014-15 without Certificate of Practice.

The Council-ICAB decided to impose monetary penalty Tk. 100,000 (One lac) uponMr. Sarder Rabiul Islam FCA (Enrolment No. 167).

On non-payment of penalty amount within three (03) months from the date of communication, the membership of Mr. Sarder Rabiul Islam FCA will be suspended for 02 years from the date of expiry of the above three months.

Case # 06:Mohammad Ata Aslam & Co, Chartered Accountants


The Council-ICAB found Mr. Mohammad Aslam FCA had been trying to comply with the recommendations of QAD. However, the Council-ICAB found that Mr. Mohammad Aslam FCA: was not paying student allowances as

prescribed by ICAB; and was not issuing audit report in

compliance with Bangladesh Standards on Auditing (BSA)

The Council-ICAB decided to reprimand Mr. Mohammad Aslam FCA(Enrolment No. 859)

.

18.05.17

Case # 07:

Case # 08:

Hussain Khaja & Co, Chartered Accountants


The Council-ICAB found Mr. Khaja Shiraj Uddin Ali Ahmed FCA and Mr. Md Afzal Hussain FCA guilty of professional misconduct under clauses # 21, 24, 25 and 33 of Part-I of Schedule-C, Part-II of ICAB Bye-laws 2004 for:

not complying with the requirement of student allowance as per bye-law 115(3) and related circular under reference 1/15/ICAB-2010 dated 28 June 2011 and 03 October 2011; and


The Council-ICAB decided to reprimand Mr. Khaja Shiraj Uddin Ali A hmed FCA (Enrolment No.248) and Mr. Md Afzal Hussain FCA (Enrolment No.276).

18.05.17

N.B.: 1. As per decision of the Council-ICAB, the above report has been published in ICAB News Bulletin and ICAB Website

under bye-law 131(1) of ICAB Bye-Laws 2004.

Senior Assistant Director (SAD)PC-ICAB

Senior Deputy Director (SDD)PC-ICAB

Secretary- ICAB

The order has been stayed by the Hon'ble High Court.

May 2017 ICAB NEWS BULLETIN...Mr. Mostafa Kamal FCA, Mr. Md. Mahamud Hosain FCA, Secretary Major General Muhammad Imrul Quayes (retd.) and Director (Technical) Mr. Mahbub Ahmed Siddique

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