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President's Message - January 2011

Posted on 04 June 2021,    
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President's Message - January 2011


Dear All,

Let us take this opportunity to wish everybody a very delightful and blissful New Year. Let happiness, satisfaction and joy always be an integral part of your life.


In 2011, to begin with, let us take this opportunity to make our wish-list public: Let our Institute grow to newer heights and spread its wings to all corners of the world. Let our profession touch towering altitudes of success while helping our society and country, and fulfil all their expectations. Let members of our profession reach and touch lives of common people and make their lives better while carrying out their social responsibility.

Here, I would like to recall what Natalie Goldberg, an American author, had said somewhere: Trust in what you love, continue to do it, and it will take you where you need to go. This is the message we would like to send across to all connected with the accountancy profession. Let us enjoy our work with all our heart.

Now, let us get updated with the developments and opportunities that we have tried to create for our Institute, profession and members at large in particular, and for our society and country in general.

ICAI Commended

Shri Pranab Mukherjee, Hon’ble Finance Minister of India, while inaugurating the 42nd Regional Conference of SIRC at Kochi applauded the role of ICAI. He complemented the Institute ‘for its initiatives to work with financial institutions in streamlining and fine-tuning the financial reporting, auditing and accounting architecture of India’. He, however, suggested, ‘The accountants as information intermediaries between managers and shareholders need to identify and recognise losses at an early stage, thereby mitigating asymmetry in information.’ He also cautioned that ‘we need to regulate better and at the same time ensure that regulation does not degenerate into obsessive control.’

Hon’ble Governor of Bihar Shri Devanand Konwar inaugurated a two-day national conference of Chartered Accountants in Guwahati. He categorically recognised our disciplinary mechanism and opined that our disciplinary mechanism is the best one among those in other institutions. He especially appreciated the fact that the names of members held guilty of professional misconduct had been publicly displayed by us.

Hon’ble Governor of Orissa Shri Murlidhar C. Bhandare while addressing the 301st meeting of our Council in Puri, said: ‘What is most satisfying is the significant contribution that Indian Chartered Accountants have made in growth of Indian economy in the era of liberalisaion and globalisation...the Institute has performed its role very well. He, then, sincerely expected our ‘Institute can help the Government in designing suitable mechanism for monitoring the use of the funds made available for public expenditure.’ He was all praise for the ICAI as ‘partner in nation-building’ in particular and chartered accountancy profession in general

Hon’ble Governor of Uttar Pradesh Shri B. L. Joshi also complemented the Institute for its effective disciplinary mechanism while inaugrating the Conference on Management of fiscal and Natural Wealth organised by Lucknow Branch of the Institute.

We are thankful to these dignitaries for their commendations of our Institute and profession. We assure them that we would continue to serve our society to the best of our capabilities.

International Initiatives

International Conference in New Delhi: We are glad to share that Hon’ble Finance Minister Shri Pranab Mukherjee has kindly consented to inaugurate the International Conference at Vigyan Bhawan in Janaury 2011. The programme structure as it stands includes speakers from New Zealand, Australia, UK, Japan, Bangladesh, Nepal, Pakistan, Sri Lanka, Australia, IASB, IAASB, IFAC, ICAI Chapters abroad and regulators from C&AG and CGA. The Guests of Honour for the inaugural session are Hon’ble Shri K. Rahman Khan, Deputy Chairman of Rajya Sabha and Hon’ble Shri Salman Khurshid, Minister of State (Independent Charge) for Corporate Affairs and Minority Affairs. Shri R. Bandyopadhyay, Secretary, Ministry of Corporate Affairs, will grace the occasion as the special guest during the Inaugural Session. We are sure that our members will actively participate, get benefited from the Conference and eventually make this event a grand success. 

SAFA-Regional Standard Setters Conference in India & Other Events in Nepal: It is a matter of satisfaction for us that the ICAI successfully hosted the SAFA’s Regional Standard Setters Conference in New Delhi focusing on IFRS, its future direction and its implication for the SAARC Region. It was inaugurated by Hon’ble Rajya Sabha Deputy Chairman Shri K. Rahman Khan, who highly appreciated our role as standard-setter and our steps taken in the recent past in this regard. The Conference also witnessed the crucial presence of IASB Chairman Sir David Tweedie and IASB Board Member Mr. Prabhakar Kalavacherla. The event had participation from almost all SAFA member bodies. From India itself, there were almost 100 delegates, particularly from our members in industry. The undersigned made it clear to the IASB Chair that we were only converging our Standards, not adopting, in the interest of the present condition of our nation. After this event, the undersigned along with some Central Council colleagues visited Kathmandu to attend a 350- delegate SAFA Summit on Sustainable Development in SAARC Region hosted by the Institute of Chartered Accountants of Nepal (ICAN). It was inaugurated by Dr. Ram Baran Yadav, Hon’ble President of Nepal. On the sidelines, we had a meeting with the office bearers of the ICAN, who requested us to start a course on DISA and IFRS in Nepal and asked us for help on other professional matters. We promised all possible help and support to them. 

Interaction with Trade Officials of Various Embassies in India: In order to develop means to foster bilateral cooperation and to explore areas whereby ICAI can collaborate with similar placed organisations/institutions for positioning brand Indian CA globally, we recently organised an interaction with the trade officials of 15 embassies in India. Representatives from USA, Colombia, Mauritius, Iraq, Israel, Italy, Kenya, Malawi, Maldives, Paraguay, Tunisia, United Arab Emirates, Congo, Bangladesh and Kyrgyz Republic, actively interacted and touched upon the areas where the ICAI can help in promoting the mandate of providing “One Stop” information on the socioeconomic legal and regulatory environment.

Initiatives with Government

India Corporate Week, New Delhi: The undersigned along with the Vice- President CA. G. Ramaswamy, few Central Council colleagues and officers of the Institute attended the inaugural function of India Corporate Week recently, organised by the Ministry of Corporate Affairs. Hon’ble Prime Minister of India Dr. Manmohan Singh was the Chief Guest. The function was presided over by Hon’ble Minister for Corporate Affairs Shri Salman Khurshid. As part of this Week, the ICAI along with MCA organised a large number of half-day seminars on the same theme, Sustainable Business, at various branches across the nation under the aegis of Corporate Laws & Corporate Governance Committee. 

Meeting of Central Statutory Auditors of Public-Sector Banks: The RBI organised meetings recently of Central statutory auditors of public-sector banks on regional basis. The one organised in Delhi was addressed by the under-signed. Such a pragmatic step shall definitely lead to better coordination between auditors and regulators. 

Meeting with Member Secretary of Planning Commission: The undersigned along with the ICAI Secretary recently met Ms. Sudha Pillai, Member Secretary, Planning Commission. We expressed our willingness to be a part of every scheme being introduced by central and/or state governments by introduction of scheme of maintenance of accounts and internal/statutory audits by chartered accountants across the nation. For the purpose, we also offered a multipurpose panel which is prepared by the Institute on an annual basis. 

ICAI to Play Crucial Role in Audit of Accounts of Political Parties: We wish to inform with pride that the Election Commission of India is in process of examining if the Accounting Standards and Auditing and Assurance Standards adopted by us could be made applicable to the accounts and audits of political parties. In this regard, the undersigned attended a meeting convened by the Election Commission of India recently in New Delhi. It was decided to entrust the ICAI with the responsibility of looking at various formats of accounts of political parties and advise in the matter accordingly. 

Development in IFRS Convergence: As the date of convergence with IFRS is drawing close, there is considerable activity on the part of the ICAI at the Ministry of Corporate Affairs to complete the remaining tasks by 2010. In this regard, the Council of the ICAI recently approved revised Schedule XIV to the Companies Act, 1956 which proposes to lay down the indicative lives of various assets for companies which will be required to follow the Indian Accounting Standards converged with IFRS. The revised Schedule XIV will be considered by the National Advisory Committee on Accounting Standards at its next meeting and thereafter will be sent to the Ministry of Corporate Affairs for its notification. The Council, at its last meeting, also finalised certain clarifications on the Roadmap for Convergence issued earlier by the Ministry of Corporate Affairs. These clarifications will be sent to the Ministry for issuance. It may also be mentioned that nearly all Accounting Standards which will come into effect from April 1, 2011, have been finalised by the NACAS and the Ministry of Corporate Affairs is also in the process of finalising the same for their notification and it is expected that these will be brought in the public domain at a very early date. 

Meeting of GASAB at C&AG: The undersigned recently attended a meeting of the Government Accounting Standards Advisory Board (GASAB) in the office of the Comptroller and Auditor General of India, New Delhi. The undersigned suggested that the role of preparing the Accounting Standards equivalent to IPSAS may be given to ICAI and the GASAB might undertake the responsibility of approving the same. The idea was welcomed by the GASAB Chairman and endorsed by the RBI nominee. In the context of the pending final decisions, however, it was decided to include ICAI representation in every technical group constituted to prepare the Standards. 

ICAI submits First Interim Report on Direct Taxes Code Bill, 2010: It is satisfying to note that we have recently submitted the first interim report on the Direct Taxes Code Bill, 2010 to the Standing Committee on Finance. Suggestions of various members of Direct Taxes Committee and sub-groups on Direct Taxes Code Bill, 2010 were considered before preparing the the Final Report on the Bill. 

ICAI Nomination for Pre-Budget Meeting under Ministry of Finance: It was a matter of pride for the profession that we had received a letter from the Ministry of Finance to nominate our representatives to participate in the prebudget meeting to be convened by the Department of Revenue with various trade and industry associations in New Delhi. CA. Sanjay Kumar Agarwal, member, Direct Taxes Committee was authorised to attend the aforesaid meeting, who presented our suggestions on Direct Taxes outlining the gist of the recommendations on pre-budget and focusing on its core issues. 

Presentation on Pre-Budget Memorandum, 2011 in Ministry of Finance: This is to inform our professional colleagues that the Indirect Taxes Committee of the Institute has recently submitted the Pre-Budget Memorandum, 2011 containing the suggestions related to indirect taxes to the Ministry of Finance. Subsequently, in response to an invitation by the Ministry to make a presentation outlining the gist of recommendations in Pre-Budget Memorandum, 2011, our Central Council colleague Indirect Taxes Committee Chairperson CA. Bhavna Doshi along with CA. Smita Mishra, Secretary to the Committee, presented our suggestions on Indirect Taxes. 

Position Paper on Direct Taxes Issue Arising from IFRS Convergence Ready: It is satisfying to inform that the draft position paper with regard to Direct Taxes issues arising from convergence of Indian Accounting Standards (ASs) with International Financial Reporting Standards (IFRSs) has been prepared by a sub-group constituted under the convenorship of our Central Council colleague and Direct Taxes Committee Chairman CA. Jayant Gokhale, which would be submitted to the Ministry of Corporate Affairs for consideration and action shortly.

Initiatives for Profession

ICAI Past-Presidents Discussed Issues on Companies Bill, 2009: We wish to inform all members of the profession that a meeting of the Past-Presidents of ICAI was convened recently to seek their guidance on issues arising out of new Companies Bill, 2009 and with regard to the surrogate practices carried out by some of the firms, its implications and the measures to be taken to overcome the same. The meeting threw up most radical views focusing on the emerging paradigm and the market-driven forces that confront the profession today. There was a consensus that the task of setting of auditing standards should remain with the Institute, as these auditing standards concern the profession at large. NACAAS can at best be an advisory body to review the standards. If at all the NACAAS comes up, its chair should lie with the CA profession and there should be a majority of our nominees in its Council. It was also desired to highlight the track record of the ICAI in standard-setting. The issues of rotation of auditors and joint audit were supported and accepted. It was suggested that if the concept of rotation of auditors can work well in public-sector audit, it can work for private-sector as well. There was a general consensus that rotation of auditors should be restricted to companies where there is substantial public interest, and this should not be extended to other entities. However, rotation within the network was not acceptable to the participants. A need to define management consultancy services in the perspective of profession was expressed. The issue whether a firm should be made responsible for a criminal action of one of its partners was also discussed. It was opined that action against a firm should be initiated only in the rarest of rare circumstances, where there was collusion of all partners or a case of repetitive professional misconduct. The need for inclusive growth of profession was also highlighted. 

CA Independent Directors on Board of Various Banks Meet: An interactive meeting of chartered accountant independent directors on the Board of various banks was recently organised by the ICAI in New Delhi. More than 15 directors including those from privatesector banks attended the meeting, who assured us to extend their support, especially, when the matter regarding appointment of auditors and tax auditors in banks was being raised and discussed. ICAI Past-President CA. T. S. Vishwanath, Professional Development Committee Chairman and Vice- Chairman CA. Pankaj Jain and CA. C. S. Nanda respectively, and many other Council colleagues also attended the meeting. 

Meeting of CA Firms: We also wish to inform our professional colleagues that a meeting of select CA firms having more than 10 partners was called recently. The undersigned along with ICAI Vice-President CA. G Ramaswamy, interacted with the representatives of those firms and discussed the current status of profession with regard to capacity building of small and medium practitioners and invited suggestions from them to improve the same. It was heartening to observe that members from 21 firms participated in this meeting at such a short notice. It was highlighted that the mergers & acquisitions may be encouraged for availing the benefit of synergy of locations and the expertise of various firms in different fields, rather than joining hands merely for empanelment. In the context of collaboration, creation of a portal of networking based on the synergy of location and profession was suggested. It was also decided to create a public discussion forum to invite members of profession to contribute on capacity building. A multinational firm present in the meeting expressed that they would promote hand-holding with SMPs rather than acquiring them.

Initiatives in the Institute For Corporates:

ICAI Awards for Excellence in Financial Reporting (2009-10): The Shield Panel, a sub-Committee of the ICAI Research Committee, recently considered the short-listed entries in 10 categories specified for the competition ‘ICAI Awards for Excellence in Financial Reporting’ for 2009-10. About 140 entities participated in the competition in these categories based on functional classification. A meeting of jury for the Awards was held recently, which was chaired by Padma Vibhushan Shri Naresh Chandra, who is also the present Chairman of the National Securities Advisory Board. Other members of the jury present in the meeting were CA. Piyush Goyal, Member of Parliament (Rajya Sabha), CA. V. Balakrishnan, CFO, Infosys Ltd., Dr. A.K. Banerjee, former Deputy C&AG, Smt. K. J. Udeshi, former Deputy Governor, RBI & Chairperson, BCSBI, CA. Pallav Gupta, General Manager (Taxation), ITC Ltd., and Shri Prithvi Haldea, Central Council Member, ICAI. CA. Ashu Suyash, Managing Director and Country Head- India Fidelity International, also attended the meeting through teleconference. The Shield Panelists made a presentation on top three/four entries selected by them in each category to the Jury. The Jury decided the winners after a thorough deliberation. It may also be informed, that as per the Council’s decision at its 261st meeting held in 2006, the names of winners of ‘ICAI Awards for Excellence in Financial Reporting’ are sent to the FRRB and the Disciplinary Directorate of the Institute to ascertain whether any proceeding against any winner of the competition is pending either before the Board or the Directorate.

For Members:

Orissa Governor Commends CA Profession: Every year one Council meeting is organised outside the ICAI headquarters purporting to refresh the members. This year, it was held in the holy city of Puri. We are happy to inform you that the Hon’ble Governor of Orissa Shri Murlidhar C. Bhandare addressed the 301st meeting of our Council in Puri recently. He commended our Institute and said ‘that Indian Chartered Accountants have made in growth of Indian economy in the era of liberalisaion and globalisation...the Institute has performed its role very well.’ He afterwards expressed expectations of the Government that ‘Government would welcome suggestions from the Institute on ways and means to introduce a greater transparency and accountability in financial accounting and reporting system at all levels of the Government utilising the services of its members.’ We are thankful to him for praising our Institute and profession. We assure him we would continue to serve our society to the best of our capabilities. The undersigned, along with the ICAI Vice-President and some of the Council members, also addressed a group of some-400 students who showed great enthusiasm during the interaction. We are also thankful to the EIRC of ICAI and its Bhubaneswar and Cuttack Branches for extending a great hospitability and making our stay comfortable in Puri. We would also like to thank our Central Council colleagues CA. Subodh K. Agrawal, CA. Abhijit Bandyopadhyay and CA. Sumantra Guha for making this grand arrangement. We also paid obeisance to Lord Jagannath and sought His blessings. 

42nd Regional Conference of SIRC at Kochi: The undersigned along with the ICAI Vice-President CA. G. Ramaswamy and few Council colleagues recently attended the 42nd Regional Conference of SIRC, hosted by its Kochi Branch, which was inaugurated by Shri Pranab Mukherjee, Hon’ble Finance Minister of India, in the presence of Prof. K. V. Thomas, Hon’ble Union Minister of State for Agriculture, Consumer Affairs, Food and Public Distribution. Many distinguished guests including Members of Parliament Shri P. C. Chacko and Shri P. Rajeev, MLA and Former Finance Minister of Kerala Shri K. M. Mani, Member of Kerala Legislative Assembly CA. Thomas Chazhikadan, and Secretary to Government of India and Vice-Chancellor of NMI University Dr. C. V. Ananda Bose, were also present. It was also attended by senior functionaries of various banks including Federal Bank Limited MD & CEO Shri Shyam Srinivasan, Indian Overseas Bank CMD Shri M. Narendra, and State Bank of India CGM Shri B. S. Bhasin. Central Board of Direct Taxes Chairman Shri S. S. N. Moorthy delivered the valedictory address outlining various initiatives of the Department having a bearing on the performance of our profession. The Conference got an overwhelming response, as it was attended by approximately 4,000 members. 

Council Decides on EMD/Deposit: The Council at its 301st Meeting considered the recommendations of the Ethical Standards Board on the payment of earnest or deposit money by various users of professional services or organisations while responding to tenders/enquiries issued from time to time. The Council recommended a costsheet to be maintained by the members of Institute while responding to tenders, incorporating details of the costs being incurred therein having regard to number of persons involved, hours to be spent, etc., so that the same may be called for by the Institute for perusal. The same may also be subject to the peer review. 

CPE in e-Learning Mode: It is heartening to inform you that the Council at its 301st Meeting has approved CPE in e-learning mode. This decision will add yet another important dimension to the ICAI’s endeavours to impart quality professional education to its members in the most convenient way. It will facilitate learning for the members just at the click of the mouse. We are sure that this decision will go a long way in helping members in actively pursuing our CPE programme very conveniently without undertaking the hardships of physical attendance and will prove to be beneficial for the CA community at large. 

ICAI Allotted Land: It is a matter of happiness for the profession that the Institute has been allotted a plot of land measuring 2,128.50 square meters in Rohini, i.e. North-West Delhi. We would soon be given possession of the land.

Also, Kanpur Development Authority has allotted a land measuring approx. 2,460 square meters to the ICAI. I congratulate the Managing Committee Members of the CIRC of the ICAI for their efforts. 

CA Qualification Recognised as Criterion for PhD: I am happy to inform that IIM-Shillong would now recognise CA as a qualification for PhD. Director of the Institute, Dr. Ashoke K. Dutta, has expressed his willingness to collaborate with the ICAI on different programmes in the areas of common interest. 

International Placement Programme through Video Conferencing: It is gratifying for all of us that the ICAI organised a special placement programme through video conferencing mode for the organisations functioning in GCC/Middle East countries. Students selected at the interviews conducted with Qatar Insurance Co., Doha, were offered a package of Rs 16 lakh per annum. 

ICAI Creates Panel of Arbitrators through Certificate Course on Arbitration: It is satisfying to note that the ICAI has been administering the Certificate Course on Arbitration for the benefit of our members while empathising with the role of ADR mechanism. The ICAI Panel of Arbitrators comprising members who have successfully undergone this Certificate Course is maintained by the Institute. We would like to share here that Hon’ble Rajasthan High Court has agreed to appoint arbitrators from our panel. The High Court of Gujarat and the High Court of Chhattisgarh have also expressed their desire to associate with us in the matter of promoting the ADR mechanism and to hold knowledge-sharing programmes for the benefit of their judicial officers, and we are in process of finalising the details with them. 

Certificate Course on Valuation: 800 members have been registered for Certificate Course on Valuation till date. Examinations for the ongoing batches in Delhi, Mumbai, Chennai and Kolkata were held recently. A fresh batch of the course commenced in Hyderabad recently. Batches at other places too would start shortly. 

National Conference of Chartered Accountants in Guwahati: The undersigned also attended, with the ICAI Vice-President CA. G. Ramaswamy and some Central Council colleagues, a two-day National Conference of Chartered Accountants hosted recently by our Guwahati Branch. The Conference was inaugurated by His Excellency Hon’ble Governor of Bihar Shri Devanand Konwar, who highly appreciated our disciplinary mechanism. IIM-Shillong Director Dr. Ashoke K. Dutta and SBI - NE Circle CGM Shri R. K. Garg were present as the guests of honour. ICAI Past-President CA. Sunil Talati also delivered the keynote address. 

For Students

Live Virtual Classes to Begin: We are happy to inform our students that the Live Virtual Classes will be inaugurated on December 28, 2010, on the occasion of the International Conference of CA students. It will be a historic step in our services towards CA student community, as it will also bring closer our students spread across the nation, especially from mofussil towns. The Board of Studies has organised demo classes at 25 centres in 22 cities in order to assess the impact of technology and to evaluate the quality of audio-visual by the participants attending these classes, prior to the formal inauguration. It is proposed to organise classes at all five regions. Classes are likely to formally commence in the third week of January 2011. We must congratulate CA. Vinod Jain, Chairman, Board of Studies, and his team for making efforts to make this project a reality. 

Hosting of Suggested Answers: As part of our efforts to enhance the transparency of our examination system, it has been decided to host suggested answers to the November 2010 examinations well before the declaration of results, i.e. by December 31, 2010. 

International Conference of CA Students: We are happy to inform all our students that an International Conference of CA Students will be organised in New Delhi on December 28-29, 2010. About 750 students have already registered showing their active interest in the Conference. 


Modification/Revision of Final Course Study Material Complete: We are happy to inform that the entire study material for the Final course has been revised/modified substantially. We hopefully will make this (with practice manuals) available to our students by January 2011 through the respective Branches/Regions. 

National Conventions, Regional and Sub-Regional Conferences of Students Organised: We would like to happily inform that the Board of Studies has successfully organised National Conventions of CA Students in Mumbai, Nagpur and Indore. These conventions were well-organised and attended by students in large numbers. In addition, Sub-Regional/Regional Conferences were also organised at Ernakulam, Jamnagar and Tirupati. The undersigned inaugurated the Conference at Tirupati and found it overwhelming to witness participation of almost 900 students in this small city. 

Meetings at Saharanpur, Dehradun and Roorkee: The undersigned also met our students at Saharanpur, Dehradun and Roorkee. Students everywhere were present in great numbers showing their enthusiastic response and keen interest in our Institutional activities. The undersigned also responded and addressed their queries suitably.

Initiatives of ICAI Committees

Four-Day Training Workshops on Audit Excellence in Metros: The Auditing and Assurance Standards Board (AASB) has been working towards taking the auditing standards to the common members. In that league, it has already successfully launched and completed Four Day Training Workshops on Audit Excellence at the four metros, New Delhi, Mumbai, Chennai and Kolkata. While the undersigned inaugurated the workshop in New Delhi, ICAI Vice-President CA. G. Ramaswamy and United India Insurance Chairman-cum-MD Shri G. Srinivasan inaugurated the workshops in Chennai and Mumbai respectively. In view of the positive response received for these Workshops, the Board is now planning to organise similar workshops in Jaipur, Indore, Pune, Hyderabad and Bangalore in January 2011. 

Conference on Management of Fiscal & Natural Wealth in Lucknow: The undersigned recently attended the inaugural session of a two-day conference onManagement of Fiscal & Natural Wealth organised by the Committee on Economic, Commercial Laws & WTO at the Lucknow branch of CIRC, which was inaugurated by Hon’ble Governor of Uttar Pradesh Shri B. L. Joshi. Committee Chairman and Vice-Chiarman CA. Rajkumar Adukia and CA. Rajendra Kumar P., Central Council colleague CA. Manoj Fadnis and CIRC Chairperson CA. Kemisha Soni were also present during the Conference. 


ICAI Submitted Bank Branch Auditors’ Panel to NABARD: We wish to inform all members of the profession that the Professional Development Committee has submitted the Bank Branch Auditors’ Panel for the year 2010-11 to the NABARD for appointment of statutory auditors of regional rural banks and state/district central cooperative banks. 

MCA Nominates Ms. Ila Singh on ICAI Disciplinary Committee: We would like to apprise all stakeholders of the profession that the MCA has communicated the nomination of Ms. Ila Singh, Principal Director of Commercial Audit & Ex-officio Member, Audit Board-I, New Delhi (Office of the C&AG), on the Disciplinary Committee of our Institute constituted under the provisions of Section 21B of the Chartered Accountants Act, 1949 (namely, under the new disciplinary mechanism), in place of Shri Birendra Kumar, until further orders. 

All of us have an inherent ability to transform our words and actions into sheer joy and happiness. Let us recall here the lines of probably the greatest twentieth century Brazilian poet, Carlos Drummond de Andrade: Our pain doesn’t come from the things that we’ve lived, but from the things that were dreamed up and not acquired…We suffer not because we age, but because the future is being confiscated from us, thus preventing a thousand adventures to happen to us, all those with whom we dreamed and we never ever try. He later on goes on to say in the same verse, Every day I live, the more I become convinced that the waste of life are in love that we don’t give, the forces that we don’t use, in the selfish prudence that nothing ventures, and that, dodging the suffering, we lose also the happiness. How true these lines are even today! 

Following on the line, we have been trying to help our society and our country appear better by extending all possible help that we can contribute; we have been endeavoring to help and empower members of our profession who are yet to take off in their career; we have been striving to reach distant locations across the world offering our technical and infrastructural resources. Fundamentally we have been making honest efforts to create a better world for all to live in. 

Let us begin the New Year with a promise to help others and with a belief that only a happy and satisfied surrounding has the power to make us happy and satisfied.

Best wishes

President, ICAI

December 26, 2010




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