I am extremely honoured to be elected as the
President of our Society and to lead an organisation that has contributed so
much to my own career and personal growth. I became a member of our Society
about two decades ago and along the way I have been mentored by stalwarts and
have also formed several close friendships. I would like to thank all of you,
in particular the Past Presidents of our Society, for bestowing this honour on
me, showing confidence in my capabilities and considering me worthy of this
position. I am looking forward to an eventful and exciting year ahead along
with all of you.
Today, our Society is considered as a
leading voluntary organisation of Chartered Accountants in India and enjoys a
very high level of credibility amongst its members and in the profession. It is
known for its value systems, ethics and innovativeness. The quality of its
programmes and publications set a bench-mark for others, and its journal is
probably the best in the profession. However, we are today living in a
disruptive and challenging age. The environment around us is changing
constantly and the needs, preferences and profiles of our members are also
changing at a rapid pace. New and emerging areas of practice are gaining in
importance, technology is also changing the way we approach our work. In such a
situation, if our Society has to maintain its prime position then it needs to
constantly innovate and adapt to cater to the changing needs and aspirations of
its members. I realise the importance of this fact and will always strive to
not only fulfil your expectations but also anticipate them. The Annual Plan for
the year 2019-20, including the thrust areas, is reproduced elsewhere in this
Over the past seven decades of existence,
our Society has been liaising and collaborating with the various regulators and
government departments by sending representations for rationalisation and
improvement in laws, administration and governance. Recently, on 16th
July, 2019 we submitted a written representation to the Hon’ble Finance
Minister relating to the hardships caused to the tax payers while filing
returns of income for A.Y. 2019-20 due to delay and constant tinkering of the
ITR forms and other such matters. This representation received a lot of
attention in the social, digital and print media. I hope this initiative will
have a positive impact and corrective action will be taken to provide relief to
the taxpayer as well as the tax practitioner.
The English cricket team might have won the
Trophy at the recently concluded World Cup, but the New Zealand (losing
finalist) team touched so many hearts of fans around the world and won their
love and respect. That Final will remain one of the most exciting,
controversial and perhaps most-talked-about matches for a long time to come.
The New Zealanders were so gracious in their defeat and, despite being at the
wrong end of a bizarre rule, they accepted the final verdict without any
complaint or fuss. They really proved that ‘Cricket is indeed a gentleman’s
game’. The final also gave us many important lessons of life: You will
always have a second chance in life; never give up till the last ball is
bowled; luck and labour go together; and finally, always be graceful in your
The month of August will witness the
declaration of the results for the CA Final examinations held in June, 2019.
This was the first examination wherein the question paper pattern of the
theoretical papers had 30% objective questions. This was done by the ICAI to
strengthen conceptual clarity among the students. These results will decide the
fate of thousands of students taking the exams and I wish them all the very
best to be successful and to pass with flying colours. They will be the future
torch-bearers of our profession.
United States President Ronald Reagan had
once said: ‘The greatest leader is not necessarily the one who does the greatest
things. He is the one that gets the people to do the greatest things’.
Similarly, our Society is a collective organisation of volunteers and only one
person gets a chance to lead it for one year, so I cannot do anything alone and
it will only be a team effort throughout the year. I look forward to your love,
support and encouragement throughout the coming year. Please feel free to
connect with me on any matter.
Wish you all a very Happy Independence Day,
a day on which we celebrate the indomitable spirit of those brave hearts who
gave us this gift of freedom.