When this issue reaches you, the voting for the Regional Councils and the Central Council of the Institute of Chartered Accountants of India (ICAI), will have been completed. The fate of the candidates, either seeking reelection or desiring to enter the council for the first time would have been sealed in the ballot boxes. The counting will take place and the election results will be known before the end of the year.
What is then that the ordinary members of the ICAI expect of our new leaders? First and foremost, our leaders should set an example for the members of the profession to follow. It is said that we get the leaders we deserve. However, it is equally true that when leaders show the path, followers follow. Members of the Council, whether it be Central or Regional, should set an example of ethical, disciplined, proactive and transparent behaviour. In the recent past, our profession has been continuously facing flak for declining ethical standards. If our leaders set high standards of morality and ethics, the general membership will look up to them. Further, they will then have the courage to represent to the government and other authorities when erroneous decisions, unfair to the members are being taken. I am deeply conscious that it is not easy to meet this expectation, but my suggestion to our new leaders is that they should make a beginning in that direction.
I have, in earlier editorials, expressed the view that the deliberations of our leaders both in councils and in various committees should be communicated to the general membership. This will achieve two objectives; the first is that, if discussions are regarding certain proposed amendments to legislation or regulations, both the concerned authorities and the members will be aware that the Council of a regulatory body is seized of the issues. The second is that the stakeholders would be able to communicate to the council their views, so that a decision after considering their thoughts can be taken. Transparency in governance is the buzzword today, and it is appropriate that a premier institution like the ICAI should set an example.
Another expectation is in regard to communication. Many times the government and the regulators take decisions which affect the interests of the members, their clients or both. While it is true that in regard to decisions affecting trade and industry it is the responsibility of the respective associations to take up the matter, it is equally true that the profession should be catalysts in that process. Therefore, if our leaders, through various committees or individually, have made various representations or have not made them for certain specific reasons, both should be placed in the public domain. The government may not necessarily accept the representation, but the fact that the leadership is taking action will boost the confidence of professional colleagues. Secondly, if an additional responsibility has been cast on the profession, and in discharging that responsibility the profession expects some specific action from the service recipient, that expectation should be communicated. If there are inherent limitations/difficulties in carrying out the new tasks, those also should be intimated. This will ensure that the service providers and service recipients work together rather than criticising each other. It is not as if today our leaders do not communicate. The need is that our leaders should not only speak, they should also listen, and the fact that they are listening should be made known to all.
At times professional colleagues may have expectations from our Institution, which may be totally unreasonable. In such a situation, the newly elected council members should be firm and explain patiently to the profession as to why the expectations are unwarranted. We elect leaders not for taking popular decisions but taking right decisions even if some of us find them difficult to digest. The true test of leadership is not in doing what the public wants but in doing what is right and in convincing people that what is being done is in their interest.
Lastly, significant attention needs to be given to students. These are members of the future. One often finds that, during the period of articleship, and even after passing the final examination and becoming Chartered Accountants students do not have any sense of belonging towards their alma mater. There is, in fact, a sense of alienation. This does not augur well for an institution which is into its seventh decade of existence and is really destined to play an important role in the life of a fast-growing nation. There is a feeling among new entrants that the ICAI does not do enough for them. It is a grudge that they harbour from their student days. Their grievances may not necessarily be correct, but this feeling needs to be addressed. It is only if younger members take interest in the affairs of an institution can it become vibrant. It is true that this is not a problem unique only to ICAI but is affecting other institutions as well. I hope our new leaders will take note.
I have tried to put together a few thoughts for the members of the new councils, Central and Regional. On behalf of all readers and the BCAS, I wish them well and hope all their dreams come true. When I communicate with you again the New Year would have already begun. I take this opportunity to wish all readers and their families a very happy and prosperous New Year!
