Chairman's Communique
It is time for me to communicate with you once again with pleasure. At the outset, I extend my best wishes to you and your family members for a very happy and eventful New Year and Prosperous Pongal.
As you know we are passing through turbulent times and the need of the hour is to remain focused and to strengthen the Institute in carving out a niche for the Profession. The concerns of the Institute and its members have been made known already.
It is a fact that we owe a duty to both the present members (i.e. Qualified Members) as well as to the “Future Members” (i.e. Students). As explained in Valmiki Ramayanam:
(Meaning: The focus by a learned person (a professional) must be to strengthen the fundamental understanding properly so that the final outcome will be good and as required. It is only when the roots are properly nurtured; the tree will yield good flowers and fruits.)
In pursuance to this objective, SIRC is organising programmes relevant for each of the 2 groups i.e. Members and Students.
Considering the importance of services to the students’ community, who are the future of the profession, SIRC has evolved and instituted many programmes. For the first time an exhibition of cost accounting records and forms in use in industries was organised in coordination with M/s Lucas-TVS at the Library Hall in SIRC premises to coincide with the Modular Training Progamme. Students expressed immense happiness with this type of exposure being provided to them regarding the flow of data in the cost accounting records.
As a maiden venture, your Regional Council initiated an ‘Institute – Industry Education Programme’ during November, 2011. Considering the difficulties being faced by the registered students (and those who desire to pursue ICWAI) who are employed in the industry/companies and thereby unable to attend the classes regularly and on time at the coaching centres, SIRC took the initiative of starting the Coaching Sessions at the industry/company campus itself, so that the employee students can complete the course curriculum in their work location itself and appear at the examinations and become qualified Cost Accountants. In this regard, a MoU was signed by myself and Shri R. Ramasamy, General Manager – Finance, WIPRO – BPO, Chennai, in the presence of Shri M. Gopalakrishnan, President – ICWAI. This is the first ever experimental measure to provide the required expertise through ICWAI Programme to the Industry. Details are given elsewhere in the newsletter.
To add one more feather to its cap, SIRC has initiated a Training Camp to be conducted by M/s VETA Corporation, Chennai (Asia's largest premier academy for teaching spoken English) for improving the presentation/communication skills and spoken English of our students. The programme is customized to meet the needs of different categories of the students based on their present skill levels. The objective is to convert the heterogeneous groups of students into a homogenous group. In addition, steps are initiated for introducing a system ‘Home Assignment’ to be submitted by the students.
I am delighted to inform you that the Oral Coaching Programme for December – June 2012 was inaugurated by His Excellency Mr. Williams Nkurunziza, High Commissioner of Rwanda wherein nearly one thousand students participated. His Excellency appreciated the role of Cost Accountants in enhancing companies’ efficiency and profitability which are the main drivers of the economic growth of the country. He welcomed the qualified Cost Accountants to his country and expressed the desire to collaborate with ICWAI. Shri M. Gopalakrishnan, President – ICWAI pointed out the need for providing training to the cost accountants in non-financial areas and basic skills as these are very much needed. Earlier, Mr. Ranganath N Krishna , Chairman, CII, Tamilnadu State Council, and the guest of honour opined that Cost accountants do really play a larger role as they are capable of influencing the company and country to cut down costs.
For its members, SIRC is organising seminars and conferences on variety of topics to update their knowledge levels at regular intervals. Apart from regular weekly Professional Development meetings, ICWAI was the Knowledge Partner for the National level meet organised at Chennai on ‘Cost & Risk Management’ jointly with Institute of Public Enterpise (IPE) and ONGC. The Programme was inaugurated by Padma Vibhushan Dr. V. Krishnamurthy, Chairman, National Manufacturing Competitiveness Council, New Delhi, wherein Dr. V. Krishnamurthy and Padma Shri Mr. K. Raghavendra Rao, Chairman & Managing Director of Orchid Chemicals & Pharmaceuticals Ltd., were also honoured by SIRC. The VIPs highlighted the importance of the costing profession.
By end of December, your Regional Council is planning for a Seminar on ‘Information Security Governance – A Perspective’, jointly organised by ICWAI & Information Systems Audit and Control Association (ISACA) which is a renowned Institute with a sizeable members attached to it.
In order to equip the members in practice with the database, SIRC has
obtained relevant list of companies ( i.e. companies whose turnover
is more than ` 20 crores/` 100 crores as the case may be and where the
capital employed is more than ` 5 crores) from the ROC and the same
has been hosted on the SIRC website (www.sircoficwai.com). Members are
requested to go through the same and be benefited by this.
I deem it a great privilege to invite you all for the forthcoming Regional
Cost Convention scheduled at Bangalore on 20th and 21st January, 2012
at Hotel Capitol, Raj Bhavan Road, Bangalore. The Brochure is sent along
with this Newsletter for your ready reference. I request each and every
one of you to support this mega event which will be inaugurated by Hon’ble
Union Minister of Corporate Affairs, Dr. M. Veerappa Moily, a grand
success.
I always deem it a pleasure to look forward for healthy suggestions
for improving the image of the Institute as well as the profession.
Members may feel free to approach me on any issue so that we will be
in a position to address them immediately.