Chairman's Communique

Respected Elders and Dear Professional Friends,


“Let us make our hearts as big as an ocean, to go beyond all the trifles of the world and see it only as a picture. We can then enjoy the world without being in any way affected by it”.

Swami Vivekananda

At the outset, I deem it a great privilege to address you through this Newsletter.  Since we have engrossed in many activities and programmes including Regional Cost Convention, this newsletter is little belated.  One of the most successful companies in the world today is Apple whose ex-CEO, the late Steve Jobs, believed in the power of passion, and once said, “The only way to do great work is to love what you do” and claimed that the passion he had for his work made all the difference.

When I speak of passion, I mean the powerful feeling of enthusiasm we all have inside of us. When we are enthusiastic and proud of the work we do, the better equipped we’ll be to overcome the many obstacles that will surely arise in our professional life. Also, the more enthusiasm we have, the more inclined we are to work harder at improving ourselves. Ensuring we are passionate about our work will provide us with both, a meaningful career as well as excellent opportunities. It is passion that differentiates between the ordinary and the extra ordinary.

With a view to encourage students to opt for our course Career Counseling Programs were organised at different centers and places.  One such Programme was held in November, 2013 at Jaya College, Thiruninravur, where very shortly we will be commencing Oral Coaching Classes apart from  Anna Adarsh Hr. Sec. School, Anna Nagar, Jain College for Women, Vepery, D.B. Jain College, Thoraipakkam, Kendriya Vidyalaya, Ashok Nagar, Patricia College, Adyar and in other places. Apart from Chennai we have visited educational institutions in Pudukottai (Perungalur, Aranthangi, Alangudi), Perambalur, Kancheepuram and other locations at Tamil Nadu also and addressed the students.

In order to update the members with the latest changes, regular Professional Development Meetings are being organised on topics of importance by inviting the best of the resource persons to address.  PD Meetings on topic ‘Internal Audit’ and ‘Sustainability Reporting’ are some of the topics which were discussed.

Owing to the changes contemplated in the ‘Cost Records and Cost Audit’, a number of meetings were organised to discuss about the ‘Draft Rules under the Companies’ Act 2013’ with specific stress on ‘Cost Records and Cost Audit’.  Apart from PD Meetings, exclusive Practitioners’ Meets were also organised to discuss on the above topic.

We have welcomed the New Year 2014 by welcoming “Swami Vivekananda Ratham” to the premises of the Institute to coincide with the Oral Coaching Inaugural program during January. Thiru K. Shanmugam, IAS, Principal Secretary, Finance Department, Govt. of Tamil Nadu who rendered Key Note Address highlighted that Swamiji’s preaching are all practical for all times. Being a Finance Secretary, he also briefed the need to study ‘Cost Accountancy Course’ in the present scenario.  Srimath Swami Gauthamanandaji Maharaj, President, Ramakrishna Math & Mission, Belur was the Chief Guest and Special Address was delivered by Thiru A. Pari, IPS, DIG of Police, and CMA M.P. Vijayakumar, CFO, SIFY.  Details have been reported in the SIRC Activities.

Following the Inauguration of Oral Coaching Classes, Regional Council and Chapters (Southern Region) Meet was organised at Chennai in January 2014 which was addressed by CMA S.C. Mohanty, President of ICAI.  A good number of Chapter Representatives participated in the meet and sought clarifications on various issues which were well addressed by the President and his team.

On the occasion of Republic Day, Grand Students’ Festival was also organised wherein competitions were held and prizes distributed to the meritorious students.  Shri Srinivas Acharya,  Managing Director, Sundaram BNP Paribas  Home Finance Ltd., was the Chief Guest. Shri K. T. Raghavan, Advocate, Chennai was the Guest of Honour.

Investor Awareness Programs were also held at different places including Perambalur, Vaniambadi, Trichy, Tiruvallur and other places so as to create the right awareness in the minds of students, youth and public at large.  Men of eminence addressed the meet and offered clarifications to queries raised by the participants.

With a vision to empower the members with the latest IT skills, a program on ‘Advanced Microsoft Excel (4 Day program) was exclusively organised in the month of February 2014, for members at SIRC premises.  A sizeable number of members took part in this program and learned nuances of Advanced MS Excel.

Your Regional Council as a ‘Knowledge Partner’ in the  IV International Conference on ‘Sustainable Global Business Models – A Financial Perspective’ was organised by SRM University in February, 2014.  Your Chairman was the Chief Guest in the Inaugural Session and CMA M. Gopalakrishnan, CCM – ICAI was the Chief Guest for the Valedictory Session.  Hundreds of students participated in the program which was addressed by industry leaders from various disciplines.

On 18th  February, 2014 one day Seminar on update on “Service Tax and Transfer Pricing” was held at Hotel Hablis, inaugurated by Shri R. Periasami, Commissioner of Service Tax, Chennai.

On 26 February, 2014 a One Day Training Program on ‘Salient Features of Companies Act – 2013’ was exclusively organised for the benefit of Tamil Nadu State Govt. officials.   Thiru K. Shanmugam, Principal Secretary, Finance Dept., Govt. of Tamil Nadu was the Chief Guest for the Inaugural Session who praised the Institute for its activities especially in the field of training and stated that further training and workshops will be conducted with SIRC for various levels of officers of the Department and appreciated ICAI’s efforts to bring about better relations through knowledge sharing.

As usual, an Industry Oriented Training (IOT) was organized for CMA Final students between 2nd March – 7th March, 2014 which was inaugurated by CS Sridharan R, President – ICSI.

During March, 2014, a UGC Sponsored National Seminar on ‘Performance Management System’ was organised by D.B. Jain College in association with SIRC of ICAI.  This program also attracted a sizeable number of students from various city colleges.

The Campus Interview Programme for the Final passed candidates was held on 5th April, 2014 at Hotel Vestin Park, Egmore, Chennai. Number of companies took part and selected the candidates.

Regional Cost Convention 2013-14 was held at Le Royal Meridien, Chennai on 18th and 19th April, 2014 on the theme ‘Emerging Sectoral Perspectives – Global CMA Professional’.  Dr. T.V. Somanathan, I.A.S., Director (Special Projects), The World Bank was the Chief Guest for the Inaugural Session.  The Program was a grand success with a good number of delegates.  To coincide with the Regional Cost Convention, 8th Ganapathisubramanian Memorial Lecture was also organised and Dr. V. Mohan,  Chairman, Dr. Mohan’s Diabetes Specialities Centre, Chennai delivered the 8th GS Memorial Lecture.  Detailed report is printed elsewhere in this newsletter.

I am reminded of the fact that the Indian general election is a phenomenal political event showcasing the largest democracy in the world. Millions of people — more than the entire population of Europe — will be eligible to vote in the world’s biggest democratic exercise. Around 930,000 polling stations will be set up for the month-long election using electronic voting machines. Thousands of crores expenditure for the preparations will be useless if people do not exercise their right to vote, especially the middle class. In fact, India needs people to vote in order to elect a stable government, which in turn will provide stability, push forward reforms and put India back on the track to economic growth. In the words of John F. Kennedy, “The ignorance of one voter in a democracy impairs the security of all”. Thus, it is clear that India’s democracy is our responsibility. I request every Member and Student to be responsible citizens and conscientiously vote in the elections. In the words of Goethe, “Knowing is not enough; we must apply. Willing is not enough; we must do”.

I earnestly appeal to all the members to take part in the various activities of the Institute which only will encourage your Regional Council to organise more and more programmes which will be beneficial to one and all.


With Regards,

CMA P Raju Iyer
Chairman, SIRC of ICAI
Perform 2 Excel