Of  The Institute of Chartered Accountants of India
Chairman Message ------: 20-02-2018
Dear Members and Students,

This is my exquisite delight to address you as the 37th Chairman of the Lucknow Branch of CIRC of ICAI for the term 2018-19.

At the outset, I thank all Managing Committee members for reposing trust on me unanimously. Also, I acknowledge and appreciate my predecessor and all past Chairmen for their valuable contribution while uprising the Lucknow Branch to its current position. I am aware of the new challenges and responsibilities ahead and the new team of office bearers is committed to perform in the best possible manner.

The new team, at Lucknow Branch, has coined a tagline for the year 2018-19, which is in Sanskrit and reads as “लेखापालनम्खलुअर्थसाधनं।”. It is based on the thought process that ‘Accounting’ is very much instrumental in ‘Financial and Economic Development’. Any nation cannot progress economically if the development cannot be measured through ‘Accounting’ and that is why CA community proudly says that ‘We are partners in nation building’.

 It is often said that change is the only constant in Life! Country saw one of the greatest revolution in Indirect Taxation with the implementation of GST wef  1st July 2017. We are thankfull to members for their participation and support in various GST and other Seminar organised by Lucknow Branch. Members of our Branch took a major role in GST implementation in Uttar Pradesh, which is praiseworth.

In the present scenario the scale of fraud at Punjab National Bank makes us wonder about the quality of internal control and auditing in India. Under the current auditing system, each bank branch must be audited by not one but two teams of auditors. Now I think the time has come to unite ourselves and pressurize the Government for appointment of Auditors through RBI and the autonomous power of appointment of auditor given to the bank must be withdrawn. 

The standard response would be to dismiss frauds – be it the Satyam scam, the willful defaults of banks, or the unearthing of shell entities last year – as “a few bad apples”. However, this would not serve the purpose if we must improve the quality and independence of auditing in India. As financial scandals across time and across geographies reveal, the quality of auditing is revealed only through “a few bad apples”.

Nelson Mandela has rightly said: Education is the most powerful weapon which you can use to change the world. The Revised Scheme of Education and Training, which necessitated certain changes in the Chartered Accountants Regulations has been approved. Students now onwards shall give exam under the new changed CA Curriculum .

I request members to be part of Chartered Accountant Benevolent Fund.

आज शिवमंगल सिंह 'सुमन' की कविता प्रासंगिक है:
गति प्रबल पैरों में भरी
फिर क्यों रहूँ दर दर खड़ा

जब आज मेरे सामने

है रास्ता इतना पड़ा

जब तक न मंज़िल पा सकूँ,

तब तक मुझे न विराम है, चलना हमारा काम है।

Thanks and looking forward a positive cooperation from all of you.

CA. Piyush Misra
Chairman Lucknow Branch of CIRC of ICAI

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