Dear professional brethren,

Seasons change, people change; change is wrought about by the incessant march of time. We try to keep in step with the cadence and herein lies the essential difference of the skilled professional.

Discipline and rigor these are the two hallmarks of a successful professional. For both these habits one has to constantly inculcate the best practices in order that we can continue the evolution process into a finely tuned professional. Now-a-days professions are driven in an equal measure by their capacity to absorb technology and adapt it to suit the ends of the profession. This requires that the profession codifies what is considers to be its best practices. Then and then only can one benchmark ones performance against these standards. Not an easy task that one can sanguinely carry forward but neither is it quite as difficult as it appears to be at first sight.

It bears repetition, that; howsoever, clichéd, it might read at first, we cannot rest on our laurels in a world that is driven by an incessant surge of technological creativity. It is with this in mind that the ICAI is coming up with Computer Centres for the development of skills in operating of computers to both members and students. We cannot afford to be marginalized in this age and time due to ignorance of this field. Besides Computers have taken out much of the drudgery involved in a professional accountants work. It has left the professional accountant freer to indulge in pursuits that are far more rewarding than the ones performed by him earlier in an age when computers were still an object of rarity. Your Regional Council alongwith the Fiscal Laws Committee of the ICAI arranged an interactive session followed by dinner in honour of the newly appointed Chairman Central Board of Direct Taxes, Sh Rabinder Singh Mathoda. The dinner was attended by the other members of the CBDT and other senior officials of the Revenue Department.

The President, ICAI CA Ved Jain and Vice President, ICAI CA Uttam Prakash Agarwal both graced the occasion and put forward the views of our profession before the authorities

Members and Students will also benefit from the conduct of lectures on the Gyandarshan Channel. This will lead to the dissemination of education to the students and members at their doorstep.

In the immediate past period your Regional Council arranged a seminar on Corporate Laws with special reference to Corporate Governance. The same day we also conducted a seminar on Audit and the importance of Maintenance of Working papers with respect to Peer Review. Audit is a practice that is looked upon as a system for reassuring society at large regarding the functionality and objectivity of our professionals in the discharge of their professional responsibilities vis-à-vis the attest function.

On the 31st of May 2008 your Regional Council conducted a seminar on Corporate Laws. Corporate bodies are some of the largest forms of organizations that indulge in economic activity and for this purpose they require enormous fund flows. The stake holders be they the shareholders or bankers or taxation departments they all have tremendous expectations from these organizations. The Corporate legal structure is idealized to subsume the corporate functionality and lay down the parameters of reporting to be followed by the bodies that are governed by these laws, In the second half we devoted ourselves in the seminar on Capital Markets. Our responsibility as Auditors is all the more pronounced since the society at large looks upon us as the reporters on whom they rely for reporting on the functioning of the corporate sector.

On the 7th of June 2008 we arranged a seminar on Capital Markets and a Seminar on Capital Gains. Capital Markets function as the propellant charge in an economy that is the force that will lead to a better quality of life for its citizens. Continuing in the same vein of thought we opine that the Taxation of incomes is vital as it provides the life blood of monies required for the functioning of the Government and the delivery of facilities to the common citizens. Needless to add we had a very vibrant gathering. Members were highly appreciative of the attendance and looked forward to more such informative and enlightening programmes.

It will be a matter of great pride for my fellow Chartered Accountants that our profession will complete a glorious period of sixty years of existence on 01 July 2008. Your Regional Council is coming up with a slew of programmes to engage the attentions of all of our professional Brethren in celebrating Diamond Jubilee year in a more memorable and meaningful manner. Our Hon’ble President of our Institute has given a clear cut mandated to your Team NIRC to host the Diamond Jubilee Programmes at New Delhi with full swing and authority. The details of the same shall be forwarded to you shortly.

On the 29th June we plan to have a Marathon Race for the members. We are also involved in trying to arrange a Spiritual Discourse by Baba Ramdev who will highlight the requirement of spiritual inputs in professional life.

On the 30th of June we propose, to organize a Health Check up camp for the benefit of the Members and a Blood Donation Camp. Lest we be accused of neglecting our next generation of professionals we will be holding a motivational conference for students.

On the 1st of July 2008 we will start with a flag hoisting ceremony. Thereafter as a measure of concern for the environment we propose to engage in a tree plantation ceremony to plant large numbers of trees to improve the environment and to serve the cause of humanity and to ensure sustainable development. The same shall be followed by Three days Conference with every eminent Personalities of the country.

I look forward to your participation in these programmes. Your participation is welcome in any form and at any place. I also want you our professional brethren to feel free to give your suggestions that you might think worth your while to us to take up for implementing in the coming year. This being a Diamond Jubilee year we must make all efforts to raise the pedestal on which our profession stands.

Jai Hind

With warm personal regards,

June 7, 2008