7.18 UNCTAD/ ISAR 2003: President-ICAB Attends UNCTAD Workshop in Geneva UNCTAD Secretary General Rubens Recupero chaired the first session on “Major Challenges to the Accounting Profession”. Other sessions of the workshop highlighted various issues, including the need for harmonisation of professional qualifications, major issues in the harmonisation of the accounting education, international benchmarking for professional qualifications, and ISAR model curriculum and its role in the harmonization of professional qualifications. Leading accounting professionals from across the world, including representatives from IFAC, ACCA, UNCTAD and IASB participated in the workshop. MoU signed with South Asian Federation of Accountants (SAFA) and Global Reporting Initiative (GRI) on 15 October 2022. FCMA President H M Hennayake Bandara and Dr. Aditi Haldar, Director, Global Reporting Initiative (GRI) in South Asia signed the MoU on behalf of their respective sides during the SAFA International Conference held in Dhaka. Tony Ashcroft from the Association of Accounting Technicians, Anwaruddin Chowdhury from ICAB and Parveen Mahmud representing the Palli Karma-Shayak Foundation attend a reception after the conclusion of the first day of the 20th session of UNCTAD/ISAR in July 2008. AK Gulam Kibria attends the UNCTAD-ISAR Workshop on “Restoring Investor Confidence through Strengthening the Accounting Profession” in Geneva held from 31 March to 1 April 2003. DEEP DIVE: PROFESSIONAL DEVELOPMENT AND STAKEHOLDERS I 50 YEARS OF ICAB LEGACY
7.19 World Congress of Accountants (WCOA) The World Congress of Accountants was first held more than 118 years ago, at the dawn of the 20th century in 1904. Today the World Congress of Accountants is a large-scale international event held under the auspices of the International Federation of Accountants (IFAC), every five years since 1952 and every four years since 2002. The host organisation rotates every four years to a different national professional accounting organisation, chosen by an IFAC selection team. The objective is to select the candidate most likely to host a financially and otherwise successful world congress and side events. Selection criteria includes the ability and experience of the member body in organizing such events; the suitability of the proposed venue; and the attractiveness of the venue and country to potential delegates. The congress gives participants the opportunity to listen to world-class speakers and leaders of the finance and business community, to exchange views with other accounting and finance professionals from around the world, and debate current issues and trends. Congress speakers include international and national standards setters, accounting organisations, accounting firms, regulators, and commerce groups. About 18 months before the congress, IFAC issues a call for applications for research papers. Selected papers are published and distributed at the congress to stimulate debate and share innovative thought leadership. The first World Congress of Accountants held in 1904. Well over 2,000 accounting and auditing professionals from around the globe attended the 14th World Congress, held for the first time in 30 years in the United States. It was sponsored by the American Institute of Certified Public Accountants, Institute of Management Accountants and American Institute of Management Accountants - the three US accounting bodies. Presentation topics included accounting for profits and government issues, public sector accounting, and fair value accounting. Dubbed by some as the “Olympics of the Accountancy Profession”, the WCOA attracts thousands of accountants. Six thousand delegates from 134 countries attended the 18th World Congress of Accountants in Kuala Bangladesh delegation at the 14th World Congress of Accountants. The ICAB President with senior ICAB members at the WCOA. → 152
Lumpur in 2010, hosted by the Malaysian Institute of Accountants. The theme was ‘Accountants: Sustaining Value Creation’. ICAB President Jamal Uddin Ahmad recounted his first-hand experience there on a news bulletin upon his return. The 20th World Congress of Accountants (WCOA) in 2018 carried the theme ‘Global Challenges. Global Leaders’. This 4-day conference was held in Sydney, Australia. The Chartered Accountants Australia and New Zealand (CA ANZ) and CPA Australia co-hosted the 20th edition of WCOA. 6000 delegates from 130 countries, with over 3,000 from Australia, 1200 from Asia, 780 from Africa, 600 from Europe, 300 from North America and 60 from South America participated. The 21st World Congress of Accountants was held in Mumbai, India from 17-21 November. Meeting with President of Confederation of Asian and Pacific Accountants in India ICAB President Md. Shahadat Hossain met with CAPA President Jim Knafu and Vice President Prafulla Chhajed along with ICAB COO Mahbub Ahmed Siddique during CAPA members meeting at the Institute of Chartered Accountants of India in Mumbai. ICAB delegates at WCOA conference in Sydney, Australia. The key agenda of the meeting was capacity building of the profession and the national institutes. ICAB delegates also joined the meeting of South Asian Federation of Accountants (SAFA) on the same day and met ICAEW President Julia Penny. 7.20 Public Sector Workshop on strengthening public sector financial reporting framework The Institute of Chartered Accountants of Bangladesh (ICAB) and the World Bank (WB) jointly organised a workshop on “Roadmap to Strengthening Financial Reporting Framework for Public Sector Entities” in Dhaka’s Sonargaon Hotel on 29 March 2017. Masud Ahmed, Comptroller and Auditor General of Bangladesh graced the occasion as chief guest. Mohammad Muslim Chowdhury, additional secretary of the finance ministry, was present as special guest. ICAB President Adeeb Hossain Khan delivered the welcome address and moderated the programme while Burhanuddin Ahmed presented the keynote paper. DEEP DIVE: PROFESSIONAL DEVELOPMENT AND STAKEHOLDERS I 50 YEARS OF ICAB LEGACY
Mohammad Atikuzzaman, task team leader of the World Bank presented an overview of strengthening financial reporting framework for public sector entities. Suraiya Zannath Khan, lead financial management specialist of the World Bank also spoke. ICAB Vice President Mahamud Hosain gave the vote of thanks. 2005: CIDA delegates visit ICAB A delegation of Canadian International Development Agency (CIDA) headed by Rajesh Dayal visited the office of ICAB on 4 April 2005 and had a cordial meeting with ICAB President Sheikh A Hafiz with a view to build a strong partnership between ICAB and the CAG to better account for public expenditure. The CIDA delegation included Andy Tamas and Omar Farooq Khan. ICAB Vice President ASM Nayeem, former ICAB President Abbas Uddin Khan and ICAB Secretary NI Chowdhury were also present at the discussion. ACCA 2011: Meeting with ACCA → 154 Meeting with ACCA CEO Helen Brand at ICAB in 2011
ICAB President Parveen Mahmud, Mahbub Ahmed Siddique with ACCA CEO Helen Brand pose for a photograph at ACCA headquarters in London, UK. Others 2002: AOTCA President visits ICAB ICAB Presient MA Baree with Jongtae Koo, President of Asia-Oceania Tax Consultants (AOTCA) at ICAB headquarters on 22 June 2002. AOTCA is the only international organisation of tax professionals in Asia-Oceania and was founded in 1992. A four-member World Bank team from Washington DC, USA, called on ICAB President Badrul Ahsan (middle) at the CA Bhaban on 2 November 1995. The team comprising (from left) Allan A Smith, Zamir Hasan, Rakesh Nangia and S Ahmed held a detailed discussion on financial sector reforms of Bangladesh. DEEP DIVE: PROFESSIONAL DEVELOPMENT AND STAKEHOLDERS I 50 YEARS OF ICAB LEGACY
7.21 Chartered Accountants Worldwide (CAW) The global accountancy body Chartered Accountants Worldwide (CAW) launched a network member logo on 4 November 2019 to recognise and promote a global family of chartered accountants. ICAB members are now connected to, and recognised by, the global family of chartered accountants which will certainly elevate their position globally. ICAB delegates participated in different events of Chartered Accountants Worldwide, Confederation of Asia and Pacific Accountants (CAPA), and International Federation of Accountants (IFAC) in Vancouver, Canada in November 2019. Over 750,000 chartered accountants of 14 professional institutes like ICAEW, ICAS, CAI, SAICA, ISCA, CA ANZ, IAI, CA Sri Lanka, ICAB, ICAN, ICAM and ZiCA, who are members of Chartered Accountants Worldwide will be able to use this new network member logo in their email signatures, letterheads, stationery as well as on websites and social media. The logo creates international recognition of the chartered accountancy profession. 7.22 Collaboration and partnership ICAB has agreements and partnerships with the following organisations: • MoU with the Institute of Chartered Accountants in England & Wales (ICAEW), UK. Under this MoU ICAB has been working with ICAEW as a learning and professional development partner. The agreement allows ICAB members to apply for ICAEW membership. • MoU with Chartered Institute of Public Finance and Accountancy (CIPFA), UK. Under this MoU, ICAB members are eligible to apply for membership of the Chartered Institute of Public Finance and Accountancy (CIPFA), a globally recognized membership body for the public sector. • MPA with CPA Australia • ICAB members can obtain membership of CPA Australia just after passing four papers — ethics and governance, financial reporting, global strategy and leadership, strategic management accounting — out of their 12 papers. This MPA became effective from 20 July 2018. • MoU with IFRS Foundation allows ICAB with the copyright license to publish both print and online editions of IFRS, IAS and IFRS for SMEs as issued by the International Accounting Standards Boards (IASB) and to distribute English language version of these standards in Bangladesh until June 2020. • MoU with LGSP. The key feature of the MoU is to conduct an external audit of union councils’ latest annual financial statements along with the performance assessment and fiduciary & safeguard compliance assessment. • MoU with NBR was a landmark deal on Document Verification System (DVS) which is the verification of audited financial statements submitted to the income tax department of NBR. → 156
Meeting on Mutual Collaboration between ICAB and ICAEW A meeting on mutual collaboration between the Institute of Chartered Accountants of Bangladesh (ICAB) and the Institute of Chartered Accountants in England & Wales (ICAEW) was held at Jio World Convention Center in Mumbai, India during World of Congress of Accountants. ICAB President Md. Shahadat Hossain and ICAEW President Julia Penny led the delegates of their respective institutes. Capacity building and professional development were the key agenda of the meeting. ICAB has been maintaining partnership with ICAEW since 2009. ICAB Vice Presidents NKA Mobin, Fouzia Haque, council member and former ICAB President Md. Humayun Kabir, Council Member Gopal Chandra Ghosh, ICAB CEO Shubhashish Bose, ICAB COO Mahbub Ahmed Siddique and representatives of ICAEW were present at the meeting. ICAB and CPA Australia sign pathway agreement ICAB President Md. Shahadat Hossain and CPA Australia President Merran Kalsall sign an extension of Member Pathway Agreement at a ceremony at Jio World Convention Center in Mumbai, India during World of Congress of Accountants in 2022. The pathway membership will remain open for ICAB members under this agreement. The first MPA between ICAB and CPA Australia was signed in 2018. ICAB Vice Presidents NKA Mobin, Sidhartha Barua, Fouzia Haque, former council member and ICAB President Md. Humayun Kabir, Council Member Gopal Chandra Ghosh, ICAB CEO Shubhashish Bose, and ICAB COO Mahbub Ahmed Siddique, a few members of ICAB and representatives of CPA Australia were present at the signing ceremony. Agreement on MPA with CPA Australia During the World Congress of Accountants, on 7 November 2018 at ICC Sydney, ICAB President Dewan Nurul Islam and CPA Australia President Peter Wilson exchange the Membership Pathways Agreement. DEEP DIVE: PROFESSIONAL DEVELOPMENT AND STAKEHOLDERS I 50 YEARS OF ICAB LEGACY
ICAB and CAANZ sign MoU on International Pathway Programme ICAB President Md. Shahadat Hossain and CA Australia & New Zealand (CAANZ) President Kate Boorer exchange Memorandum of Understanding (MOU) at a ceremony at Jio World Convention Center in Mumbai, India during World of Congress of Accountants in November 2022. Both signed the International Pathway Program (IPP) through which ICAB members can become members of CAANZ without any examination. The MoU was first signed in 2021 virtually. ICAB Vice Presidents NKA Mobin, Sidhartha Barua, Fouzia Haque, council member and former ICAB President Md. Humayun Kabir, Council Members Gopal Chandra Ghosh, Md. Moniruzzaman, former ICAB President Parveen Mahmud and ICAB COO Mahbub Ahmed Siddique were present at the ceremony. MoU with International Financial Reporting Standards (IFRS) Foundation ICAB President Showkat Hossain and IFRS Executive Director Yael Almog sign the → 158 agreement in September 2014 flanked by IFRS Foundation Vice Chairman.
DEEP DIVE: PROFESSIONAL DEVELOPMENT AND STAKEHOLDERS I 50 YEARS OF ICAB LEGACY
CHAPTER 8 Beyond borders ICAB has been relentlessly working to uphold integrity, ensure transparency and accountability of the profession. One of its main objectives is to create awareness in the corporate sector about the value of timely publication of audited financial statements as well as proper disclosure of financial and non-financial information. The aim of ICAB awarding the year’s Best Published Accounts and Reports is to recognise and reward companies and individuals for their excellence in providing timely, useful, comparable and quality information to stakeholders. It encourages best practices in corporate reporting, particularly within the purview of International Financial Reporting Standards, corporate governance and integrated reporting. 8.1. National award for best presented annual reports National BPA event Since 2001, ICAB has been organising a national awards ceremony every year for best published accounts and reports of the corporate entities. The evaluation criteria for the awards have been in line with the guidelines of South Asian Federation of Accountants (SAFA). Over the years, since the introduction of the BPA Award, the categories of the awards have increased. In 2005, ICAB introduced the BPA Award for NGOMFI marking the UN Microcredit Year, a category which SAFA added later. Presently, ICAB presents national awards to listed and non-listed entities in 13 categories including banks, non-banking financial institutions (NBFIs), insurance companies, manufacturing, ICT, NGOs, agriculture, corporate governance and integrated reporting. The Review Committee for Published Accounts & Reports (RCPAR) of the ICAB, along with its sub-committees, oversees the long-drawn process of evaluation and selection of awardees and eventual execution of the awards ceremony. Since 2016, ICAB has been arranging orientation workshops on annual report evaluation guideline, with the CFOs of corporate entities. A separate jury board has been constituted for guiding and finalising the award selection process since 2016. Md. Matiul Islam, the first finance secretary of Bangladesh has been chairing the jury board from the beginning. The RCPAR of ICAB evaluates annual reports submitted by different entities. Then, the jury board weighs in with further scrutiny finalising a list of award winners and merit certificate winners. Jury board meeting of 2017 is being chaired by Md. Matiul Islam, the first finance secretary of Bangladesh → 160
BEYOND BORDERS I LEGACY OF ICAB Jury board meeting of 2018 is being chaired by Md. Matiul Islam, the first finance secretary of Bangladesh Jury board meeting of 2019 is being chaired by Md. Matiul Islam, the first finance secretary of Bangladesh Jury board meeting of 2022 is being chaired by Dr. Atiur Rahman, former governor of Bangladesh Bank 1st ICAB National BPA Award 2001 Finance and Planning Minister M Saifur Rahman and Anwaruddin Chowdhury giving away the first and second ICAB National Award to Beximco Group Chairman ASF Rahman for Beximco Pharmaceuticals and Padma Textile Mills winning 1st best and 2nd prizes respectively among 45 entries of the category.
2nd ICAB National BPA Awards in 2002 Finance Minister M Saifur Rahman (2nd from left), seen along with Energy State Minister AKM Mosharraf Hossain, (2nd from right), ICAB President MA Baree (extreme left), and RCPAR Chairman AN Altaf Hossain Siddiqui. 3rd ICAB National BPA Award 2003 Finance Minister Saifur Rahman, Commerce Minister Amir Khosru M Chowdhury, Energy State Minister AKM Mosharraf Hossain, ICAB President AK Gulam Kibria, RCPAR Chairman AN Altaf Hossain Siddiqui and ICAB Vice President M Farhad Hussain seen with the award winners. 4th ICAB National BPA Award 2004 M Saifur Rahman, Minister for Finance and Planning, special guests, AKM Mosharraf Hossain, State Minister for Energy and Mineral Resources, Md Barkat Ullah Bulu, Advisor, Ministry of Commerce and Jamal Uddin Ahmad, Council member and former ICAB President and former deputy prime minister, are seen with ICAB President Akhtar Sohel Kasem, Anwaruddin Chowdhury, Chairman, RCPAR, vice presidents Nasir Uddin Ahmed, C R Mazumder, Showkat Hossain, and the awardees. 5th ICAB National BPA Award 2005 → 162 Finance Minister M Saifur Rahman receives ICAB Crest from ICAB President Sheikh A Hafiz.
6th ICAB National BPA Award 2006 8th ICAB National BPA Award 2008 Bangladesh Bank Governor Dr Salehuddin Ahmed (3rd from right), Securities and Exchange Commission Chairman Faruq Ahmad Siddiqi, (2nd from right) seen with Anwaruddin Chowdhury, Chairman of RCPAR (1st from right), ASM Nayeem, President, ICAB and Jamaluddin Ahmed Ph.D, Vice President, ICAB (2nd & 1st from left) with the awardees. 7th ICAB National BPA Award 2007 9th ICAB National BPA Award 2009 Winners of the ICAB National Awards for Best Published Accounts and Reports 2006 seen with Dr. A B Mirza Azizul Islam (centre), Finance Adviser, Faruq Ahmad Siddiqi (3rd from right), Chairman, SEC, M Farhad Hussain, ICAB President (3rd from left), Anwaruddin Chowdhury, RCPAR Chairman (2nd from right), Jamaluddin Ahmed Ph.D, and Showkat Hossain, ICAB Vice Presidents (1st and 2nd from left) and Md Mustafizur Rahman, ICAB Vice President (extreme right). Winners of ICAB National Awards 2007 seen with (sitting front row) Dr. A B Mirza Azizul Islam, Finance Adviser (centre), Md Humayun Kabir, ICAB President (second from right) and Parveen Mahmud, ICAB Vice President (extreme left). Commerce Minister Faruk Khan seen with ICAB office bearers and award winners. BEYOND BORDERS I LEGACY OF ICAB
10th ICAB National BPA Award 2010 Finance minister AMA Muhith seen with ICAB office bearers and award winners. 11th ICAB National BPA Award 2011 Winners of the 11th ICAB national awards pose for group photo with Commerce Minister Faruk Khan, Securities and Exchange Commission Chairman Dr. M Khairul Hossain and ICAB President Parveen Mahmud. → 164
12th ICAB National BPA Award 2012 Finance Minister AMA Muhith seen with ICAB office bearers and award winners. BEYOND BORDERS I LEGACY OF ICAB
13th ICAB National BPA Award 2013 Finance Minister AMA Muhith seen with ICAB office bearers and award winners. → 166
14th ICAB National BPA Award 2014 Finance Minister AMA Muhith, ICAB President Showkat Hossain FCA, RCPAR Chairman Abbas Uddin Khan and other ICAB office bearers pose with award winners. BEYOND BORDERS I LEGACY OF ICAB
15th ICAB National BPA Award 2015 Finance Minister AMA Muhith, along with commerce minister Tofail Ahmed pose with ICAB office bearers and national award winners. → 168
16th ICAB National BPA Award 2016 ICAB introduces a new category —Integrated Reporting— in its national awards. 24 organisations won the awards. For the first time, a five-member jury board chaired by Md. Matiul Islam reviewed the recommended list of winners. The other four members of the jury were former advisors to the caretaker government, Wahiduddin Mahmud and Rokia Afzal Rahman, Editor of the Financial Express A.H.M. Moazzem Hossain and former BSEC Chairman Faruq Ahmad Siddiqi. BEYOND BORDERS I LEGACY OF ICAB
17th ICAB National BPA Award 2017 ICAB presents awards to 28 listed and non-listed organisations in 13 categories including banks, financial services, insurance companies, manufacturing, ICT, non-governmental organisations (NGOs), public sector entities, agriculture, service sector, corporate governance, integrated reporting and diversified holdings for best presented annual reports. This year ICAB introduced a new category of ‘Diversified Holdings’. → 170
18th ICAB National BPA Award 2018 ICAB organises the 18th national awards ceremony on 24 December 2018. Finance Minister Abul Maal Abdul Muhith was present along with secretaries from commerce and finance ministries, Md. Mofizul Islam, Abdur Rouf Talukder, Md. Ashadul Islam, CAG Mohammad Muslim Chowdhury and Financial Reporting Council Chairman C. Q. K. Mustaq Ahmed. ICAB President Dewan Nurul Islam delivered the welcome speech. RCPAR Chair Muhammed Farhad Hussain also spoke on the occasion. MDs, DMDs & CFOs from the winning companies were present in this assembly. BEYOND BORDERS I LEGACY OF ICAB
19th ICAB National BPA Award 2019 ICAB organises the 19th national awards ceremony and hosts the SAFA Awards and SAARC Anniversary Award for corporate governance disclosures at a glittering event at Pan Pacific Sonargaon Hotel, Dhaka on 30 November 2019. Commerce Minister Tipu Munshi hands over the prizes among the winners and poses for a photo with CAG Mohammad Muslim Chowdhury and Financial Reporting Council Chairman CQK Mustaq Ahmed. PVS Jagan Mohan Rao, President, South Asian Federation of Accountants (SAFA) attends as guest of honour. ICAB President AF Nesaruddin delivered the welcome speech. RCPAR Chair Muhammed Farhad Hussain also spoke on the occasion. MDs, DMDs & CFOs of winning companies and a number of foreign delegates from SAARC countries were also present. → 172
20th ICAB National BPA Award 2020 Commerce Minister Tipu Munshi hands over the prizes to winners at a gala event at Pan Pacific Sonargaon Hotel on 26 November 2020. Commerce Secretary Dr Jafar Uddin and Financial Reporting Council Chairman Dr. Md. Hamid Ullah Bhuiyan were present. ICAB President Muhammad Farooq and RCPAR Chair Mohammed Humayun Kabir also spoke on the occasion. BEYOND BORDERS I LEGACY OF ICAB
21st ICAB National BPA Award 2021 Commerce Minister Tipu Munshi poses with ICAB office bearers and award winners at Pan Pacific Sonargaon Hotel on 11 December 2021. ICAB President Mahmudul Hasan Khusru delivered address of welcome and the RCPAR Chairman → 174 Mohammed Humayun Kabir spoke on the occasion.
22nd ICAB National BPA Award 2022 BEYOND BORDERS I LEGACY OF ICAB
8.2 The South Asian Federation of Accountants (SAFA) South Asian Federation of Accountants (SAFA) is the top platform of accountants in the SAARC region. It is an acknowledged accountancy grouping of IFAC comprising 10 accountancy bodies of South Asia, including India, Pakistan, Bangladesh, Sri Lanka, Nepal and Maldives. Afghanistan and Bhutan, which have no such bodies, have been given observer status. It works in the public interest and towards broad economic development of the region in part through harmonisation of accounting standards and practices. It was founded in 1984. The objective of the organisation is not to create new standards, but rather to promote harmonisation by building common knowledge and adoption of International Accounting Standards which accommodates regional and national variations. Birth of SAFA The idea to form an alliance of accountancy bodies in South Asia was first conceived by Ashok Kumbhat who was president of ICAI at that time during the third National Conference of Chartered Accountants of Sri Lanka in December of 1982. At the meeting of the heads of accountancy bodies from Bangladesh, India, Pakistan and Sri Lanka in August 1984 in New Delhi, the constitution of this new body was signed. The meeting was attended by the heads of accounting bodies of South Asia. SAFA has taken on a leadership role in providing new direction to the accountancy profession within the region and represents over 350,000 accountants of South Asia. ICAB is a member of SAFA. Its main objective of developing a coordinated accountancy profession with harmonised standards in the member countries, acts as a conduit for exchange of technical information and thus facilitates the sharing of benefits of research and developmental efforts among member bodies. It also works towards international recognition of the qualification of accounting bodies in the region. SAFA Foundation Day South Asian Federation of Accountants (SAFA) has been celebrating SAFA Foundation Day since 2019 on 22 August. SAFA is a forum of professional accountancy bodies and is committed to positioning, maintaining and developing the profession in SAARC countries. 8.3 SAFA Board The SAFA Board comprises the president, vice-president, permanent secretary and one member nominated by each of the member bodies who may be accompanied by a technical advisor at SAFA board meetings. The president and vice-president are in turn deemed to be nominated by their respective bodies and those bodies are prevented from nominating a second member for the SAFA board during the tenure of the president and the vice president. Every member of the board, except the president and vice-president, have a tenure of three years unless they resign or are incapacitated from serving on the board. In such case, the nominating member body will nominate another individual to serve the remaining period of the term. No nominee can be a member of the board for more than two consecutive terms. A term served in part would constitute one full term. The SAFA board meets at least four times a year physically but may meet any number of times virtually as deemed necessary by the president. 8.4 SAFA office bearers from ICAB Md Yunus Former ICAB president, was elected SAFA president in 1988. Jamal Uddin Ahmad Former ICAB President, who also served as the deputy prime minister of Bangladesh, was elected SAFA president in 1995. His contribution to ICAB and the accounting profession at home and abroad has been enormous and shall remain alive in the history of ICAB. → 176
8.5 SAFA events in Bangladesh First SAFA conference in Sri Lanka The first conference of the South Asian Federation of Accountants (SAFA) was held in Sri Lanka 4-7 December 1985. The theme was “Accountancy Profession Perspective and Prospects”. There were a good number of technical papers for the conference, one of which was “Status of Accounting and Auditing Standards in South Asia”. This paper was contributed by ABM Azizuddin on behalf of ICAB and was highly appreciated. Second SAFA conference in Karachi, Pakistan The second conference of the South Asian Federation of Accountants (SAFA) took place at Karachi on 17 March 1987. The theme of the conference was “Regional cooperation in continuing professional development.” The conference consisted of two technical sessions. ICAB was represented by its president AKM Rafiqul Islam. The SAFA vice-president for 1987, Md. Yunus also attended the conference. Sheikh A Hafiz Former ICAB president, was elected SAFA vice president in 2008. ASM Nayeem Former ICAB president, was president of SAFA for 2017. He served as SAFA vicepresident in 2016. President of Sri Lanka shaking hands with the heads of delegation. (Third from left is MA Quadir Mollah). Md. Yunus, former SAFA president is introduced to the prime minister of South Korea by the CAPA President at the 12th CAPA Conference in Seoul in October 1989 BEYOND BORDERS I LEGACY OF ICAB
SAFA President Mohammad Yunus presents lapel pin to President Ershad. President Hussain Muhammad Ershad is being presented with a bouquet by a CA student. President H M Ershad with Commerce State Minister HMA Ghaffar, SAFA President Mohammad Yunus and ICAB President Abdul Hafiz Choudhury. President Lieutenant General Hussain Muhammad Ershad delivers the inaugural speech at the 3rd SAFA conference held 1-2 June 1988. 3rd SAFA conference in Dhaka → 178
6th SAFA conference in Dhaka The Sixth SAFA Conference highlighting the theme, «Economic Development and Accountability,» was held in Dhaka 29-30 November 1991. Prime Minister Khaleda Zia inaugurated the conference at Hotel Sonargaon. Addressing the large gathering, the prime minister expressed sincere hope that SAFA would play its due role in achieving economic development of the region. In this connection Khaleda Zia directed the commerce ministry to take necessary measures so that the revised Company Act 1913 could be placed in the next session of the parliament. Chairman of the 6th SAFA Conference Committee, a former ICAB president Jamaluddin Ahmed delivered the welcome address. Spanning over two days, the conference was held under the joint auspices of the ICAB and the ICMAB. Former ICAB President ABM Azizuddin Ahmed addressing the SAFA conference in Dhaka in 1988. SAFA President Mohammad Yunus and SAFA Vice-President V Kalyanaraman are seen with foreign delegates and guests. BEYOND BORDERS I LEGACY OF ICAB
The conference provided an opportunity to exchange and pool ideas for development of the South Asian economies and to identify the role that accountants can play. The inaugural function rounded up with a vote of thanks by ICAB President MA Quadir Mollah. It was attended, among others, by ministers, members of parliament, heads of foreign missions in Bangladesh and high officials. 10th SAFA conference in Dhaka The 10th conference of SAFA was held on 21-22 March 1995 in Dhaka with the theme «Capital Market Development in the SAARC Region.» The conference was inaugurated by President of Bangladesh, Abdur Rahman Biswas. Finance Minister M Saifur Rahman was the keynote speaker at the opening session, jointly hosted by the Institute of Chartered Accountants of Bangladesh (ICAB) and the Institute of Cost and Management Accountants of Bangladesh (ICMAB). Members of the conference committee introducing themselves to the prime minister. On arrival, President Abdur Rahman Biswas is introduced to immediate past SAFA President Ibrahim Sidat by the current SAFA President Jamal Uddin Ahmed. → 180 Audience at the inaugural session.
Prime Minister Sheikh Hasina inaugurated the 13th SAFA conference held on the theme “Accounting Profession›s Response to the Challenges of the New Millennium” in Dhaka on 22 August 1998. The two-day conference, jointly organised by ICAB and ICMAB was also addressed by Finance Minister Shah AMS Kibria and Commerce & Industries Minister Tofail Ahmed who attended as special guests while former finance minister, M Saifur Rahman presented the keynote paper on the conference theme. SAFA International Conference: September 2014 in Dhaka, Bangladesh The Institute of Chartered Accountants of Bangladesh (ICAB), a member of the South Asian Federation of Accountants (SAFA), organised an international conference on «Accountants for Growth: Perspective South 13th SAFA conference in Dhaka Escorting Prime Minister Sheikh Hasina to the dais are (from L of PM) Conference Committee Chairman Jamal Uddin Ahmad, ICAB President Abbas Uddin Khan and Vice President Anwaruddin Chowdhury. SAFA President is at the back (between PM and JU Ahmad). Finance Minister Abul Maal Abdul Muhith speaks as chief guest at the valedictory session of SAFA International Conference of 2014. Commerce Minister Tofail Ahmed speaks as chief guest at the inaugural session of the SAFA International Conference in 2014. BEYOND BORDERS I LEGACY OF ICAB
Asia» at Bangabandhu International Conference Centre (BICC) on 9 September 2014. Around 500 accountancy professionals from various local, regional and international accounting bodies participated at the gathering and exchanged their views and experiences. Commerce Minister Tofail Ahmed attended the inaugural session as the chief guest while Finance Minister Abul Maal A Muhith graced the valedictory session as chief guest. SAFA president Subodh Kumar Agrawal spoke as special guest while former chairman of the National Board of Revenue (NBR) and incumbent chairman of the Chittagong Stock Exchange (CSE) Dr Muhammad Abdul Mazid read out the keynote paper ‘Accountants for Growth: Perspective South Asia’ written by Mustafa K. Mujeri who was the director general of Bangladesh Institute of Development Studies (BIDS) at the time. The opening session was addressed, among others, by ICAB president Showkat Hossain and conference organising committee chairman Abbas Uddin Khan. There were three technical sessions. The first technical session featured the keynote titled “Public Private Partnership in Development Strategy” presented by former ICAB President Anwaruddin Chowdhury. The session was chaired by Laksman R Watawala, President of CMA Sri Lanka. The second technical session saw ICAP President Naeem Akhter Sheikh present a paper on «Chartered Accountants: Transparency and Accountability» while the session was chaired by Narendra Bhattarai from Nepal. The third technical session featured a keynote titled «Business and Profession for Development Strategy» by Jay Ajit Chhaira, a central council member of ICAI. The session was chaired by ICAB President Showkat Hosain. Technical Session I. → 182 Technical Session II.
SAFA conference in Dhaka in 2022 The Covid induced economic slowdown disrupted global supply chains which was further aggravated by the Russia-Ukrainian war. The world economy has been experiencing high inflation leading to a rise in commodity prices, especially prices of fuel, crops, and fertilisers. These have Technical Session III. A section of the audience. created critical challenges for macroeconomic management in developing and emerging economies. In the post-pandemic scenario, when all global powers are rethinking their value chains, South Asian countries must think about further enhancing sub-regional cooperation. Speakers exchanged these views at a conference of South Asian Federation of Accountants (SAFA) on Saturday, 15 October 2022 hosted by the Institute of Chartered Accountants of Bangladesh (ICAB) at Pan Pacific Sonargaon Hotel, Dhaka. Commerce Minister Tipu Munshi inaugurated the conference as chief guest while the prime minister’s advisor on private industry and investment, Salman F Rahman and the state minister for planning, Dr. Shamsul Alam, were present as special guests. Chair of the conference organising committee, Parveen Mahmud, ICAB President Md. Shahadat Hossain, SAFA President H M Hennayake Bandara, also spoke on the occasion. Md. Humayun Kabir, former ICAB president gave a brief note on the entire conference at the valedictory session. About 30 delegates from South Asian countries participated in the conference. Among them, Mohammad Al Maruf Khan (Bangladesh), Chandrashekhar Vasant Chitale (India) S M S Sanjaya Bandara (Sri Lanka) and Dr. Aditi Haldar, Director, Global Reporting BEYOND BORDERS I LEGACY OF ICAB
Initiative (GRI). Sushil Kumar Goyal (India), Raju Iyer Pichumani (India), Awais Yasin (Pakistan), Professor Lakshman R. Watawala (Sri Lanka), Nuwan Withanage (Sri Lanka) also spoke on the occasion. ICAB President speaking at the valedictory session at the 7th SAFA Conference held 28- 29 February 1992 in Madras, India. ICAB Vice President Abul Khair Chowdhury accompanied the ICAB president to the meeting. The ICAB president also attended a 5-day residential course on ‘Corporate Financial Management’ organised on the occasion by SAFA. ICAB Council member Dr AKM Sahabub Alam attended the course as a faculty member while ICAB members Md Abu Taher, ASM Ali, Ayub Chowdhury and FR Maqsud-ud-Durain participated in the course. The 7th SAFA Conference was jointly hosted by the Institute of Chartered Accountants of India (ICAI) and the Institute of Cost & Works Accountants of India (ICWAI). An eight-member delegation from ICAB, headed by its president, attended the meet. 7th SAFA Conference in India Eight-member delegation attends 7th SAFA conference An eight-member ICAB delegation, headed by its president, Jamal Uddin Ahmad, attended the two-day SAFA conference which began 28 February in the South Indian city of Madras. The other delegates were vice President MA Halim Gaznavi, former president Mohammad Toha, Council member Md Rafiqul Islam Khan, Chitta Ranjan Mazumder, Md Humayun Kabir, Md Nurun Nabi and Akhtar Matin Chowdhury. Sitting with other participants at the SAFA Conference are: MA Halim Gaznavi (4th from left) and Mohammad Toha (extreme right). The governor of Tamil Nadu shakes hands with Jamal Uddin Ahmad as he is introduced to heads of SAFA delegations. → 184
8th SAFA conference in Sri Lanka The 8th SAFA conference was a great success, particularly the manner in which it was conducted was really laudable and worthy of mention, remarked ICAB President MA Halim Gaznavi upon his return from the threeday meet. Showkat Hossain, ICAB Vice President and Anwaruddin Chowdhury, former ICAB president Head of ICAB team A. Halim Gaznavi shaking hands with Sri Lankan prime minister at and SAFA chairman of international affairs committee are seen at SAFA Assembly. the inaugural ceremony. The ICAB president led a three-member delegation, including former ICAB president, Jamal Uddin Ahmad and a paper author Anwaruddin Chowdhury were the other two members of the team. 8.6 International seminars, conferences and other events SAFA assembly in Nepal A 2-member ICAB delegation headed by Showkat Hossain, ICAB VicePresident along with Anwaruddin Chowdhury, former ICAB President attended the 54th SAFA assembly meeting, at Kathmandu, Nepal on 17-18 July 2004. Inaugural session in progress. Seen in the picture are (L-R): Kamalesh Vikamsey, Board Member, IFAC, ASM Nayeem, ICAB President and SAFA Conference Committee Co-chairman, Indrajit Fernando, SAFA VP, Sunil Goyal, SAFA President, Bir Bikram Major (Retd) Hafiz Uddin Ahmad, Commerce Minister, M Saifur Raman, Finance Minister, Jamal Uddin Ahmad, former ICAB president and Council member, SAFA Conference Committee Chairman, Dr Wahiuddin Mahmud, presenter of the thematic paper, Nurul Hasan, SAFA Adviser, Dr. Ashok Haldia, SAFA Permanent Secretary and Satipati Moitra, SAFA President and SAFA Conference Committee SAFA international conference in Dhaka on 15 and 16 July 2006 Co-chairman. BEYOND BORDERS I LEGACY OF ICAB
ICAB and ICMAB jointly organised the SAFA International Conference 2006 on 15 and 16 July 2006 at the Bangladesh China Friendship Conference Centre at Sher-e-Bangla Nagar, Dhaka. Finance Minister M Saifur Rahman and Commerce Minister Bir Bikram Hafiz Uddin Ahmad attended the inaugural session as chief guest and special guest respectively on 15 July 2006. Foreign Minister M Morshed Khan, was the guest of honour at the valedictory session of the conference held on 16 July 2006. 2011: International Conference → 186
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ICAB President participates in SAFA Foundation Day Conference in 2022 Former ICAB Presidents Parveen Mahmud and Md. Shahadat Hossain participate as panel speakers at SAFA Foundation Day Conference in 2022 in New Delhi, India in 2022. BEYOND BORDERS I LEGACY OF ICAB
8.7 SAFA Assembly Meetings 1989: ICAB president attends SAFA ICAB President Jamal Uddin Ahmad attended the 18th assembly meeting of the South Asian Federation of Accountants (SAFA) on 27 June at Kathmandu, Nepal. SAFA-IFAC Regional PAIB Forum of 2016 Delegates attending the SAFA International Conference in Kathmandu in August, 2017 An ICAB delegation headed by Akhtar Sohel Kasem, ICAB President, attended the 56th SAFA assembly meeting and conference at Colombo from 3-5 December 2004. The theme of the SAFA conference was «Corporate Governance — Challenges in Implementation». Akhter Matin Chaudhury, Managing Director of Organon Bangladesh was a special invitee of SAFA and presented a paper at the conference. The members of the delegation included Vice Presidents Nasir Uddin Ahmed and C R Mazumder, Council Members Jainul Abedin, Jamal Uddin Ahmad, Sheikh Abdul Hafiz, Md. Mustafizur Rahman, Anwaruddin Chowdhury, S M Atiar Rahman, ICAB members Akhter Matin Chowdhury, Parveen Mahmud, Bibhuti Bhusan Saha and AKM Mizanur Rahman. ICAB delegation attends 53rd SAFA assembly in India ICAB delegation headed by CR Mazumder, ICAB Vice President (standing 3rd from left) is seen with SAFA office bearers and ICAB delegates at the 53rd SAFA assembly at Jaipur India. The 53rd SAFA assembly meetings were held on March 11, 2004 at ICAI Jaipur, India. SAFA International Conference in Kathmandu was held 27-28 August, 2017 on the ‘Role of Professional Accountants in Economic Development and Sustainability’ ICAB delegation attends 56th SAFA assembly meeting in Colombo 2004 → 194
Parveen Mahmud, SM Atiar Rahman, Council Member, AKM Mizanur Rahman, Council Members Anwaruddin Chowdhury, Akhtar Sohel Kasem, ICAB President Jamal Uddin Ahmad, Sheikh Abdul Hafiz, Jainul Abedin, Md. Mustafizur Rahman and C R Mazumder, ICAB Vice President. ICAB delegation attends SAFA assembly meeting in Lahore in 2004 The 52nd assembly meeting of the South Asian Federation of Accountants (SAFA) was held in Lahore, Pakistan on 17 January, 2004. ICAB President Akhtar Sohel Kasem, headed a delegation comprising former ICAB president Jamal Uddin Ahmad, Md Mustafizur Rahman, former ICAB president Anwaruddin Chowdhury, and ICAB Vice President CR Mazumdar. Jamal Uddin Ahmad, former ICAB President, Ashok Chandak, outgoing SAFA President, Badruddin Fakhri, incoming SAFA President and Nurul Hassan, incoming SAFA Vice-President sitting from left to right and Izhar A Athar, Director of Education, ICMAP, Ruhul Ameen, ICMAB Vice President, CR Mazumdar, ICAB Vice-President, Akhtar Sohel Kasem, ICAB President, Anwaruddin Chowdhury, former ICAB President, Md Mustafizur Rahman, ICAB Council Member and Shamsuddin (standing from left to right). BEYOND BORDERS I LEGACY OF ICAB
M Farhad Hossain (sitting at extreme left), ICAB President and Jamaluddin Ahmed (standing 5th from right), Ph.D, ICAB Vice President at 65th SAFA assembly meeting. The 57th SAFA Assembly and International SAFA conference 2005 were held on May 6 and 7, 2005 at Karachi Pakistan. The theme of the conference was Transformation of Accounting Profession. The assembly and the conference were jointly organised by the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP). The ICAB delegation headed by Masih Malik Chowdhury, ICAB Vice President, attended the assembly and the conference. Other members of the delegation were Dr. Jamaluddin Ahmed and M Mosleh Uddin ICAB Council members. ICAB delegation attends SAFA, CAPA events in Bangkok, Thailand An ICAB delegation headed by its president, M Farhad Hossain, attended the 65th SAFA assembly meeting held in Bangkok, Thailand on 29 May 2007. Jamaluddin Ahmed, Ph.D, ICAB Vice President also attended the meeting as a member of the ICAB delegation. 57th SAFA assembly and international conference 2005 held in Karachi, Pakistan (Left to right) M Mosleh Uddin FCA, ICAB Council Member, Jamal Uddin, Past ICAB President & Past SAFA president, Masih Malik Chowdhury, ICAB Vice President and Jamaluddin Ahmed, PhD, ICAB Council Member. 2009: SAFA conference in Agra SAFA seminar held 9-10 August in Colombo, Sri Lanka → 196 MA Quadir Mollah and ABM Azizuddin at the SAFA assembly meeting.
8.7 SAFA BPA event SAFA awards ceremony recognising the best presented accounts and corporate governance disclosures has been held since 1996 hosted by SAFA member bodies. ICAB also hosted such award ceremonies in Bangladesh several times. The annual reports of top three winners in each category of the national BPA contest of each member country are nominated for SAFA BPA awards. The review and evaluation of those nominated reports are conducted by using criteria set by SAFA. This competition has fostered greater communication and network among stakeholders nationally and regionally. ICAB’s national awards have created awareness in the corporate sector of Bangladesh, strengthening them to compete regionally. This competition is enhancing good governance and transparency in corporate reporting with adequate disclosure. Bangladesh has been achieving the highest number of award winners among the SARC countries over the last few years. Commerce Minister MK Anwar shaking hands with conference committee members. 2005: SAFA Nodal officers meeting held at Karachi SAFA nodal officers attending a conference on 17-18 January 2005 at Institute of Cost and Management Accountants of Pakistan. The nodal officers discussed various matters including the objectives of SAFA, centres of excellence etc. SAFA awards in Dhaka, Bangladesh Sl# Award Date Venue 1 SAFA BPA Awards Ceremony 2018 30 November 2019 Dhaka, Bangladesh 2. SAFA BPA Awards Ceremony 2015 27th January,2017 Dhaka, Bangladesh 3. SAFA BPA Awards Ceremony 2010 29th March 2011 Dhaka, Bangladesh 4. SAFA BPA Awards Ceremony 2008 5th November 2009 Dhaka, Bangladesh BEYOND BORDERS I LEGACY OF ICAB
SAFA awards 2018 held on 30 November 2019 at Dhaka, Bangladesh. → 198
SAFA awards 2015 held on 27th January 2017 in Dhaka, Bangladesh. BEYOND BORDERS I LEGACY OF ICAB
8.9 Confederation of Asian and Pacific Accountants (CAPA) The Confederation of Asian and Pacific Accountants (CAPA) is a regional organisation representing more than 30 national professional accounting organisations (PAOs) from over 20 countries in Asia-Pacific. These PAOs, referred to as CAPA›s Members, represent over 1 million accountants across the region. SAFA awards 2010 held on 29 March 2011 in Dhaka, Bangladesh. SAFA awards 2008 held on 5 November 2009 in Dhaka, Bangladesh → 200