Chairman
The theme of this conference and the Diamond Jubilee issue of
the Journal is :
‘Challenges of change — always ahead.’
It exemplifies what Peter Drucker once said :
“One cannot manage change, one can only be ahead of it”.
Bombay Chartered Accountants’ Society — BCAS — in its
existence has always been anticipating change. It has been innovating its
educational programmes to arm its members to be always ahead — to meet the
‘challenges of change’. Change also demands that we continuously rewrite our
rules whilst retaining our values. BCAS initiatives also :
- attempt to bridge the gap between expectations and realities.
- pursue excellence through curiosity and creativity. Hence, the motto on BCAS’s
journal is ‘curiosity to creativity’.
- aim to create opportunities for the accounting fraternity to learn and
re-learn.
Six days after the birth of our Institute, seven visionaries
established this organisation to chisel talent to meet the needs of trade and
industry and has since then been evolving and innovating. The Society is an
adjunct to the Institute. It is there to support the Institute in achieving its
objective of being ‘partner in nation building.’
It was Leo Tolstoy who said, “Faith is the force of life”.
It is the faith that the founders of BCAS had in the
accounting fraternity of this metropolis (great city) that continues to inspire
us. It was their dream — nay — vision to make BCAS an institution that disperses
knowledge and trains chartered accountants to serve the ever changing needs of
society. It is this vision which was articulated into a ‘vision statement’ by
the Narayan Varma committee in the year 2002; which in concrete terms guides the
present and will guide the future activities of the Society. It is rightly
said :
“Great leaders institutionalise.”
In order to achieve our objectives we seek not only the
co-operation of our fraternity, but also the co-operation of sister professions
which we have received in abundance. We take this opportunity to express our
gratitude for their contribution.
Questions arise :
What makes BCAS what it is today ?; and
What prevents BCAS — an oasis of intellectuals — from
becoming irrelevant like some institutions ?
The answer lies in the fact that BCAS has been fortunate in
always having leaders who perceived the need for change, has responded to the
environment and delivered change. This is what makes BCAS vibrant and
challenging. It continues to challenge the old and the young alike — challenges
them to contribute both to their personal growth and the growth of BCAS.
Individuals do not come to lead and leave. They continue to serve and face
challenges of change to keep BCAS always ahead. It is because of this
that the BCAS is an epitome of excellence in the art of being always ahead.
Our leaders consider it a privilege to be part of it and serve it.
It was Eric Hoffer who said :
“The future always belongs to those who earn it, and the only
way to predict the future is to have the power to shape it.”
It is also said ‘everything is possible for those who
believe’ and I say that the founders of BCAS believed and the leaders of BCAS
today believe in its contribution to the growth and shaping of our profession.
I believe that my fraternity has the vision to both predict
and shape its future and to be a part of the exciting times that the trade and
industry is going through and beholds for the future. I also believe that in all
this along with our Institute, BCAS has the ‘wherewithal’ to contribute.
In an environment where Indian businesses are expanding
beyond our territorial waters and foreign investors consider India as an
opportunity, we professionals need to hone our skills to meet the needs of both
these challenges. In honing the skills of my fraternity BCAS has played a
crucial role by being ‘always ahead’.
- It was ahead of others, as mentioned earlier, when it was established just six
days after the birth of our Institute; to impart skills.
- It was again ahead when in late eighties it encouraged the study of
international tax.
- It is again ahead today when it conducts programmes on ‘business consultancy,’
‘alternative dispute resolution,’ ‘internal audit’ and ‘corporate governance’.
To respond to ‘challenges of change’ we need to examine the
change that has happened and is happening in both the social and economic
environments. A few illustrative changes are :
- live-in relationships are accepted and are also being judicially recognised.
- divorce and adultery are not shunned but are accepted as ‘freedom of choice.’
- single motherhood is accepted.
- gays and lesbians live openly and are no longer shy of their affiliations.
- every centre of power, big or small, is suspect of conspiracy and corruption.
- individuals and organisations blatantly use authority without accountability.
- business failures because of un-ethical practices – sub-prime is the latest which has shaken some of the world’s largest financial institutions.
- laws are violated with virtual immunity.
- reported instances of our professionals involved in unethical practices.
- professionals are accused of being collaborators in fostering corruption.
- society existing at flash point – riots, dharnas and agitations based on religion, language, caste, creed and even on admission to educational institutions virtually taking place every day.
- society today approves, accepts, tolerates and at times even applauds corruption – the change in character.
Our tolerance or acceptance of the above changes over a period has increased.
If one were to analyse these they represent different facets of the same animal corruption. In factual terms it is conflict between:
1. standards of behaviour with practicality, for ex-ample, business considers tax as a cost and we support and contribute to this thinking whereas the excessive use of tax havens has been held to be not only immoral but against law. Professionals in U.5.A. have been fined for encouraging use of tax havens .
2. being lawful and practical.
In this environment we professionals are challenged to retain our professionalism. Society conveniently forgets that we professionals also emanate from the same environment but expects professionals to live in an oasis.
Let us not forget that Arthur Anderson went down with Enron because there was loss of values. Whenever, wherever a seam occurs the first question is :
‘Where was the auditor ?’
In other words, we are challenged by the dangerous play of convergence of commitment to principles with convenience. I repeat and question:
Is it the time to rewrite our rules without changing our values?
BCAS believes that a professional without ‘values’ is not a true professional. BCAS attempts to inculcate values through its study circle and articles in the Journal. It is not shy of discussing the multiheaded monster’ corruption’ which is becoming the scourge of Indian psyche.
Friends, this conference is a symbol of BCAS’s commitment to excellence in serving the accounting fraternity and to create opportunities to learn. The symphony of professional thoughts which is going to be presented today will be a treat to our ears and will at the same time be ‘thought-provoking’. The special issue of the Journal also aims to achieve the same objective. The credit for this goes to the cast and the crew of this conference and our learned contributors who have diligently toiled to give us ‘thoughts to think’. A review of the papers and articles exhibits the mastery which the authors have over the subjects. They have made complicated, confounding and confusing issues simple. They have dealt with the issues with luminous clarity. Their level of excellence, I am sure, will be a source of inspiration to the younger members of our fraternity.
I would conclude by saying :
‘BCAS is a journey and not a destination and pray that this journey will – nay – shall continue.’
