Chairman's Communique

Respected Elders & Dear Friends,

"I can do things you cannot, you can do things I cannot; together we can do great things." — Mother Teresa

Let me at the outset express my deep sense of gratitude to my colleagues for having elected me to the post of Chairman, SIRC of the ICAI, thereby reposing their trust and confidence in my ability to lead.

In fact, I deem it a great privilege and a rare honour bestowed upon me.  I am deeply overwhelmed by the tremendous love and affection and would like to take this opportunity to thank one and all, from the depth of my heart.

Undoubtedly the post of Chairman brings with it a huge amount of responsibility that needs to be properly discharged with poise and equanimity. I am very conscious about the high standards set by my illustrious predecessors and shall take inspiration from their past performances.

It shall always be my constant endeavour to live up to your expectations and prove worthy of the exalted position that I have come to occupy, in all humility. 

I seek the kind cooperation and support of my colleagues and members of the ICAI family at large, in shouldering the onerous responsibility of the post of Chairman, SIRC of the ICAI.  I assure you that I shall succeed in my duty to deliver.

I consider it to be my good fortune in having met the Vice-Chancellor and Registrar of the Madras University. I am glad to inform you that a Memorandum of Understanding will be signed between Madras University and ICAI in the academic front, very soon, opening up a plethora of opportunities for any aspiring youngster who wishes to pursue Cost Accountancy course.

The student may find it very advantageous as the cost involved in pursuing our course is relatively less when compared to medical and engineering courses. It is here that the Career Counselling offered by ICAI plays a vital role, luring many budding youngsters to join the course.

SIRC of the ICAI had in the past organized IAP and a considerable number of other related programmes in various parts of the region with leading academicians and renowned personalities as anchors.  The programmes were a resounding success and came in for appreciation from all stakeholders.

Emboldened by the success of IAP and other such programmes, SIRC of the ICAI has plans to conduct more than 100 such IAPs before March 2014, through various accredited sources, in tier 2 and 3 cities and major towns, in South India. Career Counselling will be an essential ingredient of the above programmes and our first and foremost aim would be to ‘Reach the Unreached’.
The Independence Day Celebrations at SIRC this year, was a day full of activities both for members and students.  Prof. E. Balagurusamy, Member, State Planning Commission, Govt. of Tamil Nadu and Former Vice-Chancellor of Anna University, was the Chief Guest.  An exclusive Students’ Programme was also organised on the day.  Various competitions were held and prizes were given to meritorious students. 

Faculty Members play a dominant role and act as a bridge between the students and the Institute.  It is with this noble objective in mind that a faculty get-together was organised on the day to apprise them of the latest paradigm shift in professional education.

The ICAI conducted a one day seminar on Corporate Governance and Companies Act, 2013, on 15th September, this year, at Bangalore.  Shri M.J. Joseph, ICAS, Additional Secretary to Ministry of Corporate Affairs, GOI, was the chief guest. In his inaugural address, Shri.M.J.Joseph highlighted the salient features of the new legislation and its enabling provisions aimed at promoting business friendly corporate regulations. Mr. Joseph recognising the challenge that as the present contribution of Services Sector has increased to 60% of GDP and share of Industry in GDP is about 25%, the new Companies Act, 2013 contains enabling provisions for maintenance of cost records for prescribed class of companies engaged in the services sector as well.

‘Expansion’ as you all know is the hall mark of any new initiative and towards this end SIRC of the ICAI, had always laid stress on finding new avenues which would benefit the student fraternity. It is with this view in mind that, I met the Worshipful Mayor of Chennai Corporation, Shri S. Duraisamy to explore the possibilities of starting new coaching centres for CMA Foundation Course for the benefit of those students who are studying in schools run by Chennai Corporation.

It must be said to the credit of Mayor that he was very forthcoming and responsive to the novel idea and has extended his unstinted cooperation for the proposed establishing of Coaching Centres at select locations so that students from the vulnerable section of society would also get an opportunity to pursue Cost Accountancy course in right earnest and thus aspire to become a qualified professional.

As ‘Knowledge Initiative’ for final year students, the ‘Industry Oriented Training Programme’ is regularly organised by SIRC. The training programme on 1st September 2013 was inaugurated by Shri N. Tarachand Dugar, Chairman, Dugar Group and Shri.A.P.Mahabharathi(CMA), General Manager, TAMPCOL delivered the special address.

On 22nd September 2013, a similar programme was inaugurated by CMA A.N. Raman, Former President – SAFA & CCM (2007-11) and Shri K.Pandia Rajan, Chairman & Managing Director, Ma Foi Strategic Consultants Pvt. Ltd and MLA, Tamil Nadu. In these training programmes students were given orientation in various facets of management and eminent personalities from leading corporate houses addressed the student community and shared with them their experience.

Faced with the need to build on our core areas, programmes on conventional and new avenues will be organised to equip our members for these and other areas of professional development. Seminars and Workshops on CAR, CAS, GACAP, Indirect Taxation and Local VAT, Intensive Courses and Workshops on Cost Audit Techniques and Tools, Internal Auditing, Service Tax, Transfer Pricing, are being scheduled, during this calendar year. To enable the members to build on their core competences, SIRC will be focusing on conducting Study Circle Meetings on topics of interest.

During September 2013, your Library was neatly spruced up with additional facility. It has a   separate area now, which has been exclusively earmarked for members.

As you all know, SIRC organises Campus Placement Programmes at regular intervals and the last programme was held on 5th and 6th October, 2013.  Around 250 successful final year students during June 2013 participated in the programme and majority of them got shortlisted / selected.  Many leading corporate houses took part in this event which included some of the giants like ITC, Power Grid Corpn., TCS, Lucas TVS, Wipro, BEL, L & T, iGATE and Shell India Pvt. Ltd.

I would now like to draw your attention to the Regional Cost Convention 2013 scheduled to be held sometime in the month of December / January 2014, at Chennai. As it is being held at Chennai after a considerable gap, I request your wholehearted support in making this event a grand success. The venue and theme of the convention will be communicated to members shortly.

I consider myself very fortunate to be the Chairman of SIRC during the celebration of the 150 Birth Anniversary year of Swami Vivekananda who said, “Stand up, be bold, be strong. Take the whole responsibility on your own shoulders, and know that you are the creator of your own destiny. All the strength and succour you want is within yourself. Therefore make your own future.” True to his words of wisdom, I have accepted the mantle of responsibility. I am sure his teachings will continue to inspire and motivate a generation of Indians.

With season’s greetings and best wishes,

With Regards,

CMA P Raju Iyer)
Chairman, SIRC of ICAI
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