By Deepak R. Shah
President
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Dear Members,
Be Jagrat , Be Vigilant !
I thank you all for making this year special, for electing me as your 64th President, and giving me opportunity to serve the Society, and share my views with all fellow alumni of this profession. It is my honour and privilege to accept this position.
In my acceptance address at the AGM held on 6th July, 2012 I have highlighted the focus areas, and the Annual Plan for 2012-2013 was placed before the members. The said speech is reproduced in this issue in the column “Society News”.
The Annual Plan for the Year 2012-2013 which was laid out in AGM had 3 focus areas:- Relationship, Membership and Mentorship. I urge all members to come forward and share your views and expectations, and join the new Team, as we build relationships, increase membership, and expand our mentorship program.
As we enter the year 2012-2013 I would like to thank you for your continued support to BCAS. In fact, it has been your participation and encouragement that has helped us evolve to serve you better. We take immense pride in keeping you at the core of all our activities and innovations.
I had stated in my speech that the times in which we live, one has to be JAGRAT – to be alert or vigilant at all times. Also one has to move forward in the right direction to reach the goal.
There is a group of famous verses in Sanskrit that ends with the call – “Tasmat Jagrat Jagrat”. If due to lack of alertness, you take a false step, one will suffer an irreversible fall. This is true as much in the case of individuals as much as in that of nations.
We would be celebrating 65 years of India’s Independence on 15th August. As one of the oldest surviving civilization, India has experienced every malady that history has thrown up and through her unique , mature wisdom discovered and applied suitable remedies. It is a hard won legacy which has been achieved not just by way of an accident but by a continuous struggle against heavy odds. India has been able to preserve her soul and protect her identity through all the vicissitudes of time. That is why when the American President Barack Obama visited India, and addressed our parliament he said “ My confidence in our shared future is grounded in the respect for India’s treasured past – a civilization that has been shaping the world. Indians unlocked the intricacies of human body and the vastness of our universe. India not only opened our minds, she expanded our moral imagination.”
Our forefathers have created institutions like the judiciary, the independence of which we must zealously protect, and whose decisions we must respect however severe our disagreement with them. The constitution has created a system of checks and balances. We must recognize the wisdom of our ancestors and preserve the system and not dismantle it.
Such an effort at dismantling the system has been recently witnessed in the Finance Act 2012, bringing in most inappropriate policies like GAAR, and also by its action of retrospectively amending the law to supercede the Supreme Court’s verdict. Such policies and measures has its own negative impact, which has been noticed in the form of devaluation of rupee, loss of confidence by foreign investors, creating an environment which is not conducive to growth. So Vigilance-Jagrat becomes critically relevant in this context.
Let us hope that problems plaguing the economy as well as problems on tax front would be addressed, in the backdrop of incumbent in the finance ministry, and Mr Pranab Mukherjee moving to Rashtrapati Bhavan as the 13th President of India.
No matter where the economy is headed, or even when the nature of reforms in laws brings with it the general negative mood, we Chartered Accountants will have to be Jagrat, especially when you are part of the globally acclaimed CA profession. We all will have to keep pace with the change, and to overcome the challenge.
The next couple of years for CA’s are expected to be challenging years as compared to the past. We have witnessed large scale changes in the Finance Act, 2012 and many more are expected in the near future in major areas of practice. As a consequence of this, the demand for professionals is bound to be on the rise, and would offer tremendous scope to increase their level of practice.
The purpose of BCAS is to assist professionals in advancement and success in their careers, and prepare oneself to meet new challenges. I believe that it always pays to invest in one’s own career. It enables you to explore new avenues in practice.
At BCAS, our efforts will be to keep on innovating and explore new ideas while planning and carrying out various activities. We would endeavour to see that knowledge content created in various programs, reaches to the maximum through the medium of WEB TV.
At the society, we would also constantly endeavour to represent at various levels to see that hardship and inconvenience caused on account of administrative apathy is reduced. We will be vigilant and expect that you will respond in the same manner.
Before I sign off, I congratulate all those who have qualified as CAs, and becoming part of this noble Profession. At this juncture, I invite you all to be active with the BCAS family consisting of 8600 and more co-members, to realise a greater level of knowledge sharing on a continuous basis, and to sharpen your skills, and keep adding to the value you wish to create. Come and experience the intrinsic value of your decision to have joined the Society.
With Warm Regards,
Deepak R. Shah
