Evaluation of Training in Dutch Bangla Bank

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					December 2008                                                                                                                   ISSN 1993-5366

                        ICAB News Bulletin                                                                                                No. 230
Monthly News briefing from the Institute of Chartered Accountants of Bangladesh

       International Federation of
       Accountants (IFAC)
                                                       Nasir U Ahmed Elected
       International Accounting
       Standards Board (IASB)
       South Asian Federation of
                                                       President-ICAB for 2009
       Accountants (SAFA)
       Confederation of Asian                         r. Nasir Uddin                                                  British multinational company
       and Pacific Accountants

In This Issue
                                     M                Ahmed FCA was
                                                      elected President
                                     for the year 2009 and Mr.
                                                                                                                      in Bangladesh. He is also a
                                                                                                                      Director      of
p   Nasir U Ahmed Elected            Showkat Hossain FCA, Mr.                                                         Commerce Bank Ltd.
    President-ICAB for 2009          Md. Syful Islam FCA and Mr.                                                      Mr. Ahmed has a brilliant

    SEC Chairman
                                     Md. Shahadat Hossain FCA                                                         academic and professional
    Emphasised on the                were elected Vice Presidents                                                     career. He obtained first class
    Appropriate Application of       for the same tenure of the                                                       in     B.Com        (Hons)      in
    IFAC Code of Ethics              Institute        of      Chartered                                               Accounting         from    Dhaka
p   Awards Given by ICAB for         Accountants of Bangladesh                                                        University in 1981 and passed
    Best Published Accounts          (ICAB) in a meeting of the                                                       M.Com in Accounting from
    and Reports 2007                                                                 Nasir Uddin Ahmed FCA
                                     Council-ICAB held on 27                                                         the    same    University.      He
p   ICAB organizes Award             December 2008. Mr. Ahmed                                                        attended      various      training
    Giving Ceremony to the           was introduced in the 36th Annual General Meeting            courses at top business schools abroad.
    Brilliant Children of
                                     (AGM)       of     the    Institute   held   under   the     Mr. Ahmed qualified       as Chartered Accountant
                                     Chairmanship of Mr. Md. Humayun Kabir FCA,                   from ICAB in November 1986. He was awarded
p   Annual Dinner of ICAB            President-ICAB. Mr. Ahmed was Vice President of              ICAB Medal (Silver) in CA intermediate
p   Obituary                         ICAB for the year 2003 and 2004. Mr. Ahmed is                examination in May 1985. He has been closely

    Meetings and Programmes
                                     the Finance Director of Coats Bangladesh Ltd., a             associated with various academic activities of
    held in the Month of
    December 2008

p   IFAC News

p   Office Bearers of CRC-
    ICAB Elected for 2009

p   Admission as Associate

p   Admission as Fellows

p   Permission to Start

p   ICAB 36th Annual General
    Meeting held
                                                 Showkat Hossain FCA                 Md Syful Islam FCA                    Md Shahadat Hossain FCA
                                                    Vice President                     Vice President                           Vice President
                                                                                                                         ICAB News Bulletin         No. 230

ICAB since long. He was a lecturer of                 year 1976 from the Institute of Chartered             Shamsul      Alam       &    Co.,    Chartered
Auditing and Business Law at ICAB from                Accountants of Bangladesh. He graduated               Accountants. He is Director of Rupali
1991 upto 2003. An active member of                   from City College-Chittagong and Articled             Bank Ltd. He is actively involved with
                                                      with the then AF Ferguson & Co Chartered              different social service activities in his
ICAB, Mr. Ahmed is also associated with
                                                      Accountants. Mr. Hossain in his colorful              village home and involved with the
various social and professional bodies in
                                                      career served in the Multinational and                founding schools and madrasa in his
and outside the country.                              National Companies at home and abroad                 village home.
Mr Showkat Hossain FCA was elected                    including      Large      Petro-Chemical              Mr. Shahadat Hossain FCA, was elected
Vice President for 2009. He was also                  Complexes in the North Africa for around              Vice President for 2009. He qualified as
elected Vice President for several time. He           three decades. He was also Vice President-            Chartered Accountant from the Institute of
is a Partner of Hoda Vasi Chowdhury &                 ICAB in 2004.                                         Chartered Accountants of Bangladesh
Co.,     Chartered     Accountants,      an           Mr. Md. Syful Islam FCA, VP-2008,                     (ICAB) in 1993. Mr Hossain is a Partner of
independent affiliate firm of Deloitte                Member Council was re-elected Vice                    M/s Shahadat Rashid & Co., Chartered
Touche Tohmatsu USA. Mr. Hossain has                  President-ICAB for the year 2009. Mr.                 Accountants. He is a writer on subjects of
qualified as Chartered Accountant in the              Islam is the Managing Partner of Syful                economic and commercial interest.        n

                     SEC Chairman Emphasised on the Appropriate
                          Application of IFAC Code of Ethics

Mr Faruq Ahmad Siddiqi, Chairman, Securities and Exchange Commission, Chief Guest addressing the audience of the CPE Seminar. Seen from (L-R), Mr Nasir Uddin
Ahmed FCA, Paper Presenter, Mr. Md Humayun Kabir FCA, President-ICAB and Mr ABM Azizuddin FCA, Member Council & Past President-ICAB, Session Chairman.

          he     Institute    of    Chartered         Guest     focused     on    the    appropriate        financial statements containing appropriate

T         Accountants        of
          organized a CPE Seminar in the
ICAB Auditorium of the city on 21
                                   Bangladesh         application     and    compliance

                                                      IFAC code of ethics as adopted by the
                                                      accounting and auditing standards and the
                                                                                                   the      disclosure. Mr Siddiqi stressed that
                                                                                                            disclosure is a very important element of
                                                                                                            an audit report prepared by a Chartered
December 2008. The topic of the Seminar               ICAB. He said that good governance,                   Accountancy       firm      which   helps    the
was “Code of Ethics For Professional                  transparency and accountability of an                 investors,      stakeholders        and      the
Accountants” Mr Faruq Ahmad Siddiqi,                  entity is the basic infrastructure which a            shareholders of an entity to take decision.
Chairman,       Securities   and    Exchange          professional accountant must demonstrate              To achieve this goal a professional
Commission (SEC) in his speech as Chief               through his presentation and audit of                 accountant       must        have     integrity,

December 2008
                                                                                                                                ICAB News Bulletin    No. 230

Speaking in the Seminar (Left to Right): Mr Faruq Ahmad Siddiqi, Chairman, Securities and Exchange Commission, Chief Guest, Mr ABM Azizuddin FCA, Member Council
& Past President-ICAB, Session Chairman, Mr. Md Humayun Kabir FCA, President-ICAB,Mr Nasir Uddin Ahmed FCA, Paper Presenter and Mr Md Syful Islam FCA, Vice

competence,       confidentiality      and    an       accountant must remain conscious and                      Code of Ethics for the Professional
approach to the conceptual framework of                aware of the ethical issues involved with                 Accountants. He said, a professional
code of ethics for professional accountants.           his activity and he must keep himself                     accountant has a continuing duty to
A     professional       accountant       while        above all such issues that may give rise to               maintain professional knowledge and skill
discharging his responsibility may receive             questions on his activities and the audit                 at the level required to ensure that a client
threats from various vested interests which            report framed by him. A professional                      receives competent professional services
he must encounter with the ethical spirit              accountant must remember that he is an                    based on current developments in practice,
and strict compliance of the codes of ethics           indispensable part of the society and the                 legislation and techniques. Mr. Ahmed also

adopted by the Institute.                              economy as a whole and his observations                   discussed about various threats and
Mr Md Humayun Kabir FCA President                      of the financial statements of an entity may              safeguards of a professional accountant.
–ICAB in his address of welcome said that              cast an impact on the whole economy of                    Mr ABM Azizuddin FCA Member Council
the Institute has adopted the IFAC Code of             the country.                                              and Past President ICAB conducted the
Ethics for the benefit of the accountancy              Mr Nasir Uddin Ahmed FCA Member                           seminar as Session Chairman. Mr Md
profession.     He    stressed     that   while        Council-ICAB presented the key note                       Syful Islam FCA Vice President-ICAB
discharging responsibility, a professional             paper on the topic. He explained about                    offered the vote of thanks.                    n

                                      A view of the audience of the Seminar on "Code of Ethics For Professional Accountants".

December 2008
                                                                                                                                    ICAB News Bulletin          No. 230

                        Awards Given by ICAB for Best Published
                              Accounts and Reports 2007

Winners in the ICAB National Awards for Best Published Accounts and Reports 2007 seen with (sitting on the dais) Dr. A B Mirza Azizul Islam, Adviser in charge of Ministry
of Finance and Planning, Commerce, GoB, Chief Guest (centre). Mr Md Humayun Kabir FCA, President-ICAB (second from right) and Ms Parveen Mahmud FCA, Vice
President-ICAB (extreme left).

          he      Institute      of    Chartered          qualified      accountants       has     increased         Prime Bank Ltd., Dutch-Bangla Bank Ltd.

T         Accountants         of      Bangladesh
          (ICAB), the regulatory body of
the Accountancy Profession in the country
                                                          substantially. He narrated the scenario of
                                                          published accounts and reports in the
                                                          SAARC         region.      He      thanked       the
                                                                                                                     and BRAC Bank Ltd. were evaluated 1st,
                                                                                                                     2nd and 3rd respectively and Dhaka Bank
                                                                                                                     Ltd., Mercantile Bank Ltd and South East
through     its   Review       Committee        for       organizations that participated in the                     Bank Ltd were awarded with Certificates
Published Accounts and Reports (RCPAR)                    competition of Best Published Accounts &                   of Merit. In the Financial Sector Non-
evaluated the published accounts and                      Reports-2007.                                              Banking category, Prime Finance and
financial      statements      of     the    listed       Dr. A B Mirza Mohammad Azizul Islam,                       Investment Ltd., IDLC Finance Ltd and
companies         and     NGOs/MFIs            who        Adviser in charge of Ministry of Finance
                                                                                                                     Lanka-Bangla Finance Ltd. were evaluated
participated in the 8th ICAB National                     and Planning, Government of People’s
                                                                                                                     1st, 2nd and 3rd respectively while Uttara
Awards for Best Published Accounts and                    Republic of Bangladesh (GOB) in his
                                                                                                                     Finance & Investment Ltd. and IPDC of
Reports 2007 Competition. The Published                   speech as Chief Guest highly appreciated
                                                                                                                     BD Ltd were awarded with Certificates of
Accounts and Reports of the listed                        the evaluation process of ICAB of the
                                                                                                                     Merit. In the Non-Financial Sector-
companies, NGOs/MFIs and Public Sector                    Published Accounts and Reports and hoped
                                                                                                                     Manufacturing             category          Singer
Entities were evaluated by RCPAR-ICAB                     that this will have a positive impact in
                                                                                                                     Bangladesh        Ltd,     Renata      Ltd.     and
under guidelines and criteria set by the                  bringing about transparency, accountability
                                                                                                                     GlaxoSmithKline Ltd. were evaluated 1st,
South Asian Federation of Accountants                     and good governance among the entities.
                                                                                                                     2nd and 3rd respectively and Square
(SAFA).                                                   He stressed on the application and
                                                                                                                     Pharmaceuticals Ltd and ACI Ltd. were
In a ceremonial function organized by                     compliance of accounting and auditing
ICAB      on      04    December        2008      at      standards in the preparation of financial                  awarded with Certificates of Merit. In the

Bangladesh-China Friendship Conference                    statements. He narrated the scenario of                    NGOs/MFIs Sector BRAC and Buro were
Centre, Mr. Md Humayun Kabir FCA,                         published accounts and reports in the                      evaluated 1st and 2nd respectively. In the
President-ICAB in his address of welcome                  SAARC         region.      He      thanked       the       sector of public entities Investment
commented that since establishment in                     organizations that participated in the                     Corporation of Bangladesh (ICB) was
1973, ICAB has been relentlessly trying to                competition of Best Published Accounts &                   evaluated 1st. Ms. Parveen Mahmud FCA,
promote the accountancy profession in                     Reports-2007.                                              Vice President, ICAB offered the vote of
Bangladesh and as result the number of                    In the Financial Sector- Banking category,                 thanks.                                              n

December 2008
                                                                                                                                ICAB News Bulletin    No. 230

                            ICAB organizes Award Giving Ceremony
                              to the Brilliant Children of Members

(Sitting) Mr Md Humayun Kabir FCA, President-ICAB (3rd from left), Dr. Md. Abu Sayed Khan FCA, Member Council-ICAB and Chairman-MSWC, (2nd from left), (L-R) Mr
Md Shahadat Hossain FCA, Member Council-ICAB, Mrs Humayun Kabir, Ms Parveen Mahmud FCA and Mr Md Syful Islam FCA, Vice Presidents-ICAB seen with the

          he    Members’       Services     and       and Nishat Tasnim from SSC level.                          Sagleen Bint-e Ayaz, Intishar Jashim,

T         Welfare Committee (MSWC) of
          the Council-ICAB under the
Chairmanship of Dr. Md. Abu Sayed Khan
                                                      S M Zeeshan Saad, Sheikh Farhana Binte
                                                      Ahmed, Tasnia Tahsin Roselyn, Sabrina
                                                      Islam Khan, Tamanna Tasnim, Mahin Irfan
                                                                                                                 Sakib Mohammed Muntasir Adnan and
                                                                                                                 Chaity Basak from O level and Md.
                                                                                                                 Monjurul Hassan, Arunav Das and Zenith
FCA,     Member          Council-ICAB       and       Khan and Samiha Khan from HSC level.                       Turanza Ahmed from A level.                   n

Chairman-MSWC organized an Award
Giving Ceremony for the Brilliant Children
of ICAB Members on 05 December 2008
at the ICAB Auditorium.
Mr. Md. Humayun Kabir FCA, President-
ICAB, Vice Presidents, Council Members,
Past Presidents, Members and invitees
were present on the occasion.
The following Children of the Members of
the Institute were honored with awards for
their outstanding results in different
Sumaiya        Jannat,     Dipanyta       Datta,
Sabysachi       Roy,      Waseka       Farzana
Chowdhury, Mehbuba Mamtaj Mehedi,
Hridi Rahman, Sushmita Mondal, Zeeshan
Ashraf, Tanjim Mojumder, Ishrat Zebeen,
Sheikh Ruksana Binte Ahmed, Sanjana
Ahmed, Tasmia Khan, Tamanna Musharraf                                    Guardians were also present with their brilliant children on the occasion.

December 2008
                                                                                                                        ICAB News Bulletin   No. 230

                                             Annual Dinner of ICAB

                                 Mr Md Humayun Kabir FCA, President-ICAB welcoming everybody to the Annual Dinner of ICAB.

                                                     Annual Cultural Function and dinner at
                                                     the Institute of Chartered Accountants of
                                                     Bangladesh was held in the evening on 26
                                                     December 2008 at Winter Garden, Dhaka
                                                     Sheraton Hotel, Dhaka.
                                                     Mr. Md Humayun Kabir FCA, President-
                                                     ICAB       appreciated       the    programme,
                                                     thanked the members for joining the
                                                     function.       Renowned           singers      of
                                                     Bangladesh presented their melodious
                Sabina Yeasmin                                                                                               Anupoma Mukti

                                            A view of audience watching cultural programme in ICAB's Dinner Party.

December 2008
                                                                                                          ICAB News Bulletin      No. 230

                                     Obituary                                                    IFAC News
                                                                                               IFAC'S Public Sector
                                                                                              ASB Launches Work on
                            Mr.         Md     the Country. Mr. Md Yunus FCA was
                            Yunus FCA,         associated with various organizations

                                                                                                 Int'l Public Sector
                                               including FBCCI, DCCI. He was the
                            20,         Past

                                                                                              Conceptual Framework
                            President of       President of ICAB in 1984 and South
                            the Institute      Asian      Federation   of   Accountants
                            of Chartered
                                               (SAFA) for the year 1984. President,                      The International Public Sector
                            Accountants                                                                  Accounting Standards Board
        Md Yunus FCA
                            of       Bangla-   Mr. Md Humayun Kabir FCA, the
                                                                                                         (IPSASB), an independent
                            desh (ICAB)        Council Members and the Members of             standard-setting board of the International
  expired on 30 December 2008 at 10:15                                                        Federation of Accountants (IFAC), has
                                               ICAB expressed deep sorrow at the
  p.m. at a City Hospital. (Inna Lillahe Wa                                                   issued for comment the first in a series of
                                               demise of Mr. Md Yunus and prayed to           consultation papers focused on the
  Inna Illaihe Rajeun.) He is survived by
                                                                                              development of an international public
  his wife, three sons, other family           Almighty Allah, the merciful for
                                                                                              sector conceptual framework. Entitled
  members, relatives and well wishers.         salvation of the departed soul and to          Conceptual Framework for General
  An illustrious member of the Institute                                                      Purpose Financial Reporting by Public
                                               give the bereaved family the strength
  Mr. Md Yunus FCA was one of the                                                             Sector Entities, the consultation paper
  senior most Chartered Accountants of         and courage to bear the irreparable loss.      represents a landmark achievement for the
                                                                                              public sector financial reporting
  Mr. Shamsul Hassan Azharul Alam              social     worker    and     was     always    community.
  FCA, Enrollment-583, Member of the                                                          The consultation paper identifies the
                                               appreciated for his works.
                                                                                              IPSASB's preliminary views on the
  Institute of Chartered Accountants of        President Mr. Md Humayun Kabir FCA,            objectives and scope of financial
  Bangladesh (ICAB) expired on 13                                                             reporting, the qualitative characteristics of
                                               the      Council    Members        and   the
  December 2008 (Inna Lillahe Wa Inna                                                         information included in general purpose
                                               Members of ICAB expressed deep
  Illaihe Rajeun.) He is survived by his                                                      financial reports and the characteristics of
                                               sorrow at the sudden demise of Mr.             public sector reporting entities.
  wife and children.
                                               Alam and prayed to Almighty Allah,               "Our ultimate goal is to develop a
  Late Mr. Alam was a noble soul and was                                                      framework that makes explicit the
                                               the merciful for salvation of the
  always held in high esteem by his                                                           concepts, definitions, and principles that
  relatives, friends and admirers.             departed soul and to give the bereaved         underpin the development of IPSASs,"
                                               family the strength and courage to bear        states IPSASB Chair Mike Hathorn.
  He qualified as Chartered Accountant
                                                                                              "Since it will apply across countries and
  from ICAB in 1989. He was renowned           the irreparable loss.                          jurisdictions with different political
                                                                                              systems and forms of government, the
Meetings and Programmes held in the Month of December 2008                                    framework will recognize the diversity
                                                                                              that exists in the many jurisdictions that
 Date                              Meetings/Programmes
                                                                                              may adopt IPSASs and help to strengthen
 02.12.08       Meeting of the Professional Development Committee                             the transparency and consistency of
 04.12.08       8th ICAB National Awards for Best Published Accounts & Reports                financial reporting by governments
 05.12.08       Prize Giving Ceremony of Brilliant Students of Members                        worldwide. This makes receiving a broad
 20.12.08       Meeting with C&AG Officials                                                   spectrum of comments on this paper, and
                • Meeting of the Council                                                      all our consultation papers, all the more
 21.12.08       CPE Seminar on Code of Ethics for Professional Accountants                    significant."
 27.12.08       Meeting of the Council                                                        "Given the important role the conceptual
                • 36th Annual General Meeting                                                 framework will eventually play in the
                                                                                              future standard-setting activities of the
 28.12.08       Meeting of the Executive Committee
                                                                                              IPSASB, I strongly urge constituents to
                • Meeting of the Examination Committee
                                                                                              respond to the views expressed in this
                • Meeting of the Council
                                                                                              milestone paper," adds Mr. Hathorn.
                • Meeting of the Executive Committee
                                                                                                                 Courtesy: IFAC Website

December 2008
                                                                                                                 ICAB News Bulletin         No. 230

     IFAC News
   Robert Bunting Assumes Presidency of IFAC, Council Names
                Göran Tidström Deputy President
             Leaders       of     over       100   clearly demonstrated how interconnected        implementing the solutions that can prevent
             accountancy          organizations    global markets are. This makes IFAC's          future crises."
             worldwide met in Rome on              initiatives to achieve convergence of          Supporting these goals, the IFAC Council
November 11-14 to participate in the               international standards ever more urgent.      approved an updated Strategic Plan for
International Federation of Accountants'           Convergence to a common set of high            2009-2012. This plan has an increased
(IFAC) Board and Council meetings, where           quality accounting and auditing standards is   focus     on      the     implementation       of
they addressed the global financial crisis,        essential to assuring the quality of the       international standards, on enhancing the
convergence to global auditing and ethics          profession's services and is vital to the      relevance        and    sustainability    of   the
standards, and the profession's role in            effective operations of markets and to
                                                                                                  profession, and on communicating more
sustainable development. At the conclusion         promoting      cross-border    trade    and
                                                                                                  vigorously        on     regulatory,     financial
of the meeting, President Robert Bunting of        investment."
                                                                                                  management, financial reporting, corporate
the United States assumed the IFAC                 "I believe that IFAC has a key role to play
                                                                                                  governance, and other issues.
Presidency for a two-year term ending in           in restoring confidence in the markets,"
November 2010. Göran Tidström of                                                                  "Another area of focus in the strategy and
                                                   emphasizes Mr. Bunting. "We must
Sweden assumed the position of Deputy                                                             one to which I plan to give my attention is
                                                   demonstrate that our standard-setting
President.     In     addition,   the    Council                                                  meeting the needs of small and medium
                                                   processes are rigorous. And we must
approved the appointment of three new                                                             practices (SMPs) and enterprises (SMEs),"
                                                   continue to promote strong corporate
members to the IFAC Board and the                                                                 adds Mr. Bunting. "The SMP/SME
                                                   governance and the highest quality
reappointment of four members to a second          practices by the world's accountants,          community did not cause the current
term.*                                                                                            financial crisis, but they will be very much
                                                   whether they work in public practice or in
Newly elected IFAC President Robert                                                               affected by it. We must do what we can,
                                                   business and industry. Additionally, we
Bunting, a past Chairman of the American                                                          including ensuring that they are not subject
                                                   need to scrutinize ourselves and look at
Institute of Certified Public Accountants                                                         to      overly     burdensome          regulatory
                                                   what we can do better or differently. And
and an IFAC Board member since 2005,                                                              requirements, to contribute to their health
                                                   lastly, we must be even more engaged with
commented on the global financial crisis,
                                                   all market participants and actively           and effectiveness."
pointing out "The financial crisis has
                                                   collaborate with them in identifying and                               Courtesy: IFAC Website

                                    IFAC Supports Convergence in the
                                    Reporting of Financial Instruments
             The International Federation of       in financial reporting and to work towards     While accepting the value of moving
             Accountants (IFAC) supports           convergence of international standards, an     rapidly to remove differences in the
             recent       moves         by   the
                                                   objective which IFAC views as critical to      application of fair value accounting in
International Accounting Standards Board
                                                   the efficient operation of global capital      different jurisdictions, IFAC strongly
(IASB) to contribute to greater consistency
                                                   markets.                                       opposes attempts to change more radically,
December 2008                                                                                                                                    8
                                                                                                          ICAB News Bulletin        No. 230

or to suspend, the use of fair value           Fermín del Valle, "and it will not serve the   from the International Auditing and
accounting without adequate due process.       interests of investors."                       Assurance Standards Board in its Staff
In particular, IFAC considers that making      IFAC believes that the additional guidance     Audit Practice Alert, Challenges in
changes at a national or regional level that   given to those applying both accounting
                                                                                              Auditing Fair Value Accounting Estimates
exacerbate reporting differences would         and auditing standards relating to fair
                                                                                              in the Current Market Environment.
serve to further confuse financial markets     values has been very valuable and will
                                                                                              IFAC and its independent standard-setting
and would result in a reduction of             contribute to the public interest through
                                                                                              boards are continuing to monitor the
confidence in financial reporting - exactly    more    consistent    application   of   the
the opposite of what is required in current    standards. This guidance has come from         impact of the credit crisis and will consider
circumstances. "Reducing transparency is       the IASB and the United States Financial       whether further guidance is needed.           n

not the answer," says IFAC President           Accounting Standards Board, as well as                              Courtesy: IFAC Website

                                       Office Bearers of CRC-ICAB
                                             Elected for 2009
                                       Mr Moddassar Ahmed Siddique FCA was elected Chairman
                                       and Mr Subrata Kumar Bhowmick FCA Honorary Secretary of
                                       the Chittagong Regional Committee-ICAB for the year 2009.
                                       The other members of CRC are Ms Yesmin Sabder Ali FCA,
                                       Mr Shekhar Ranjan Kar FCA and Mr Md Mahfuzur Rahman
                                       Bhuiyan FCA.

 Mr Moddassar Ahmed Siddique FCA                                                                         Mr Subrata Kumar Bhowmick FCA
            Chairman                                                                                            Honorary Secretary

     Ms Yesmin Sabder Ali FCA                              Mr Shekhar Ranjan Kar FCA                    Mr Md Mahfuzur Rahman Bhuiyan FCA
             Member                                                 Member                                           Member

Mr. Moddassar Ahmed Siddique is a               seven years in various capacities as Chief    He also completed Masters in Accounting
fellow member of the Institute of Chartered     Accountant,    Company      Secretary    &    from Chittagong University. In course of
Accountants of Bangladesh (ICAB). He            General Manager Accounts & Finance. He        his long service in private and government
completed his articleship from Hoda Vasi        has also worked as Advisor in SICHO           sectors related with his profession, he held
Chowdhury & Co. He worked in Accounts           Group. Now, he is serving in KDS Group        different senior and responsible positions.
departments of NGO Forum & Electrical           as Senior General Manager (Accounts &         Now he is serving in a big Industrial Group
System     Services    Company Limited          Finance). He has visited India, Thailand,     having    private,     public   and     listed
(ESSCO) and also worked in Bangladesh           China, Malaysia and Singapore.                companies, named S. Alam Group as
Steel Re-Rolling Mills Limited (BSRM)           Mr. Subrata Kumar Bhowmick FCA,               Senior General Manager (Finance) being
group as group Chief Accountant. He             qualified as a Chartered   Accountant    in   the position of head of Finance and
worked with Aramit group during last            November-December 1999.                       Accounts of the Group.                        n

December 2008                                                                                                                           9
                                                                                                         ICAB News Bulletin   No. 230

          Admission as Associate                                     Name
                                                                     Mr Shadhan Chandra Das ACA (1080)
                                                                                                                     Effective Date
The following members have been admitted as Associates of the        57/2, East Raza Bazar (3rd floor)
Institute with effect from the dates as shown against their names:   Tejgaon, Dhaka-1215
Name                                                Effective Date
Ms Afrin Akhter ACA (1073)                               15.9.2008   Mr Pronoy Kumer Biswas ACA (1081)                    9.11.2008
Assistant Manager                                                    Manager
Rahman Rahman Huq                                                    ACNABIN
Chartered Accountants
                                                                     Chartered Accountants
9, Mohakhali C/A
                                                                     BSRS Bhaban (13th floor)
                                                                     12 Kawran Bazar, Dhaka-1215

Mr Md Humayun Kabir ACA (1074)                           29.9.2008
House # 141 (1st floor)                                              Mr Mohammad Mazharul Haque ACA (1082)               11.11.2008
China Building Goli                                                  Assistant Manager, Audit & Advisory Services
Azimpur, Dhaka                                                       Rahman Rahman Huq
                                                                     Chartered Accountants
Mr Mohammad Obaidul Islam Khan ACA (1075)                29.9.2008   9 Mohakhali Com. Area
490/1, Senpara Parbata                                               Dhaka-1212
Mirpur Parbata-10
Dhaka-1216                                                           Mr Shahriar Istiaq Halim ACA (1083)                 12.11.2008
                                                                     Assistant Manager
Mr Mohammad Shahidul Islam ACA (1076)                  08. 10.2008   Rahman Rahman Huq
Assistant Manager                                                    Chartered Accountants
Rahman Rahman Huq                                                    9 Mohakhali Com. Area
Chartered Accountants                                                Dhaka-1212
9 Mohakhali Com. Area
Dhaka-1212                                                           Ms Suraiya Zerin ACA (1084)                         13.11.2008
                                                                     Assistant Manager
Mr Md Sarwar Hossen ACA (1077)                          12.10.2008
                                                                     Rahman Rahman Huq
Assistant Manager, Audit & Advisory Service
                                                                     Chartered Accountants
Rahman Rahman Huq
                                                                     9 Mohakhali Com. Area
Chartered Accountants
9 Mohakhali Com. Area
                                                                     Mr Md Shafiqul Alam ACA (1085)                       2.12.2008
                                                                     Audit Manager
Mr Syed Md Enamul Kabir ACA (1078)                      12.10.2008
                                                                     A Qasem & Co.,
Assistant Manager, Audit & Advisory Services
                                                                     Chartered Accountants
Rahman Rahman Huq
                                                                     Gulshan Pink City
Chartered Accountants
                                                                     Suite # 01-03 (Level-7)
9 Mohakhali Com. Area
Dhaka-1212                                                           Plot-15, Road-103, Block CEN(C)
                                                                     Gulshan Avenue

Mr Sandip Halder ACA (1079)                              9.11.2008   Gulshan, Dhaka-1212

C-5, Basati Camelia
1 Naem Road, Dhanmondi

December 2008                                                                                                                    10
                                                                                                        ICAB News Bulletin     No. 230

            Admission as Fellows                                          Permission to Start Practice
The following members have been admitted as Fellows of the          The following members have been granted permission to Start
Institute with effect from the date as shown against their names:   Practice as Public Accountants as partner or proprietor with effect
Name                                              Effective Date    from the date as shown against their names:
                                                                    Name                                               Effective Date
Mr AKM Saif Ullah Kowchar FCA (828)                   28.12.2008
                                                                    Mr AKM Nuruzzaman FCA (133)                            28.12.2008
Group General Manager (F&A)
Expolanka Group
                                                                    Ahmed Zaker & Co.,
Medona Tower (9th floor)
                                                                    Chartered Accountants
28 Mohakhali C/A
                                                                    40 Shaheed Syed Nazrul Islam Sarani
Dhaka-1212                                                          Bijoynagar, Kakrail (10th floor)
Ms Syeda Assma Kakoli FCA (813)                       28.12.2008
IFC-SEDF, The World Bank Group                                      Mr Md Shafiqul Alam FCA (603)                          28.12.2008
Bay's Galleria                                                      Partner
57 Gulshan Avenue                                                   Bokhteyar Humayun & Co.,
                                                                    Chartered Accountants
                                                                    Room # 208-209, Shejan Tower
Mr Avijit Bhattacharjee FCA (824)                     28.12.2008
                                                                    4 Segunbagicha
Assistant General Manager
Head of Accounts and Administration
United Leasing Company Ltd.
                                                                    Mr Dewan Nurul Islam FCA (606)                         28.12.2008
Camellia House
22 Kazi Nazrul Islam Avenue
                                                                    Bokhteyar Humayun & Co.,
                                                                    Chartered Accountants
                                                                    Room # 208-209, Shejan Tower
Mr Md Mahamud Hosain FCA (833)                        28.12.2008
                                                                    4 Segunbagicha
Head of Finance & Accounts
DHL Excel Supply Chain (Bangladesh) Ltd.
Taj Cassilina (Level-5), SW (I)4
                                                                    Mr Md Liaquat Hossain Chowdhury FCA (638)              28.12.2008
25 Gulshan Avenue
                                                                    MLH CHOWDHURY & CO
                                                                    Chartered Accountants
Mr Kiron Sankar Dey FCA (376)                         28.12.2008
                                                                    Chowdhury Villa, 2 No. Suite
General Manager (F&A)
                                                                    Middle Halishahar, Bandar
Clifton Group
04 Jubilee Road
Jiban Bima Bhaban
                                                                    Mr Mohammad Motaleb Hossain ACA (950)                  28.12.2008
                                                                    A Qasem & Co.,
Mr Kazi Ahmmed Monowar FCA (822)                      28.12.2008
                                                                    Chartered Accountants
Dy. General Manager
                                                                    Gulshan Pink City
Grameen Phone Ltd.
Celebration Point                                                   Suites # 01-03, Level-7, Plot-15
Plot # 3 & 5, Road # 113/A                                          Road # 103, Block-CEN (C)
Gulshan-2, Dhaka-1212                                               Gulshan Avenue
Mr Ferdous Ahmed Khan FCA (612)                       28.12.2008
Proprietor                                                          Mr Ahsan Zamir FCA (269)                               28. 12.2008
Octokhan                                                            Proprietor
Chartered Accountants                                               Ahsan Zamir & Co.,
Hosna Tower (2nd floor)                                             Chartered Accountants
106 Gulshan Avenue                                                  2/2, Purana Paltan (1st floor)
Gulshan, Dhaka-1212                                                 Dhaka-1000

December 2008                                                                                                                      11
                                                                                                                                             ICAB News Bulletin   No. 230

                                ICAB 36th Annual General Meeting held
         he 36th Annual General Meeting

T        (AGM)       of   the    Chartered
         Accountants of Bangladesh
(ICAB) was held on 27 December 2008 at
the ICAB Auditorium under the
Chairmanship of outgoing President Mr
Md Humayun Kabir FCA. The meeting
considered and approved the Annual
Report, Auditors Report, Financial
Statements 2007-2008 after discussion by
the members and answered their questions
by the President.
The meeting also approved the proposal to
appoint Mr Md Atikur Rahman FCA of                               Mr Md Humayun Kabir FCA, President-ICAB giving address of welcome of 36th Annual General Meeting.
Atik Khaled & Co., Chartered Accountants
                                                               2008.                                                         Mr. Kabir offered his full cooperation to
and Mr Md Abdul Momin Khan Lohani
FCA of M Abdus Salam & Co., Chartered                          There was a lively floor discussion on                        the new president and said that the
Accountants as auditors of the Institute for                   various issues relating to the Institute and                  dynamic leadership in the year 2009 will
the year 2008-2009.                                            the profession. The members present                           further strengthen the professionals’
Mr. Md. Humayun Kabir FCA, President,                          enthusiastically participated.
                                                                                                                             fraternity among the members of the
ICAB expressed his deep gratitude and                          The outgoing president introduced
sincere thanks to the Past Presidents,                         President-elect Mr. Nasir Uddin Ahmed
                                                                                                                             Mr. Nasir Uddin Ahmed FCA appreciated
Council Members and Members of the                             FCA for the year 2009. He also introduced
                                                               the three Vice-Presidents elect for 2009.                     the service of the outgoing President, Vice
Institute for their kind advice, guidance,
support and cooperation which greatly                          They are Mr. Showkat Hossain FCA, Mr.                         Presidents and the Council and the
inspired him in the dispensation of his                        Md Syful Islam FCA and Mr. Md Shahadat                        cooperation of the general members of the
duties and responsibilities during the year                    Hossain FCA.                                                  Institute.                                 n

                            Outgoing office bearers and incoming office bearers seen with Council Members in Annual General Meeting of ICAB.

                          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: secretary@icab-bd.org 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: icabctg@spctnet.com
UK Chapter: Suite One, 2 Haydons Road, London SW19 1HL, United Kingdom Tel: 44-020 8544 1234 Fax: 44-020-8544 1400 E-mail:hossain@ahmed13.fsworld.co.uk
North American Chapter: 5 Massey Square, Suite-2519, Toronto, Ontario M4C 5L6, Canada Tel: 416-686 6760 Fax: 416-916 1091 E-mail: sarwarchowdhury@hotmail.com

December 2008

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