From The President

Dear Professional Colleagues,

As the December issue was going to the press, we witnessed a
ghastly terror attack on Mumbai. My first thoughts came to you by way of post
script printed after my communication. Thereafter our Vice-President Ameet Patel
expressed our anguish through Rabindranath Tagore’s poem. Much has been written
and spoken about the attack. The post mortem of the event will continue. The
reality is that we have lived with and will have to continue to live with
different forms of terror. We can minimise risks, control damage, but cannot
eliminate terrorism.

It is not the first time that our country has faced a terror
attack, nor is it the first time that so many innocent citizens have lost their
lives. But the reaction of the public has however been significantly different.
Whenever an attack took place in the past, our neighbour was blamed, the
security personnel lambasted and thereafter many of us went about their business
as if nothing had happened. This time persons in the power were held responsible
and there is an effort to ensure a continuous accountability of those in public
service. Though it may sound harsh, the difference in the reactions is probably
on account of the fact that terror has now reached the doorstep of the elite.
They were forced to descend from their ivory towers because those towers are no
longer safe. The feeling of being insulated from such mishaps has vanished.

There is a feeling of anger and anguish within all sections
of the society. It is justified, but very little will be achieved if it is
directed only towards bureaucrats, politicians and their ilk. We should be
angry with ourselves too. Since independence, we are a nation of citizens
who clamour for rights, but are not as conscientious when it comes to performing
our duty. There will of course be honourable exceptions, but otherwise it is
true of most of us. We all want to make government officials and the politicians
accountable, but we must pause and ponder as to how many of us are in a position
to render an honest account of ourselves to society. We must appreciate that
persons whom we hold responsible are not aliens from another planet, but are one
of our own breed.

The show of solidarity, the lighting of candles and meetings
to express sympathy were all necessary because these help to soothe the emotions
that had been aroused due to the tragedy. But if true lessons are to be learnt,
much more needs to be done. As an immediate measure, the needs of the victims
must be ascertained and catered to. Some of them will need emotional support
which only family members and friends can give, but others will need financial
support both in the short term and for longer duration as well.

In the medium term the need is to create awareness about
security and vigilance. The railway police at the CST were criticised because
their weapons did not fire as they had not been used in years. It is easy to
point a finger, but we must ask ourselves some questions and there will be
unpleasant answers. Many of us live in high-rise buildings, but the disaster
management systems (if any have been installed) have not been used in years. We
may not have war, but will face a number of warlike situations. Are we prepared
for that ? I think that a year of compulsory military or paramilitary training
will go a long way in creating mental toughness, discipline and patriotism
amongst the youth. The aspect of security needs to be brought into focus on a
continuous basis so that, being vigilant becomes the second nature.

The root cause of why ten individuals could wreak the havoc
they did is that those in public service are not accountable. A large majority
of the public is busy in earning their daily bread while the elite get their
work done through resources. Creating a permanent platform where citizens remain
vigilant and make the powers that be accountable, will be a real challenge. For
that, a proper infrastructure needs to be put in place. This activity will
require substantial funding as well as the commitment of a large number of
individuals. After witnessing the tragic events of 26th November, every person
has the urge to contribute but is at a loss to decipher the course of action
that he can take.

What role we professionals in general and Chartered
Accountants in particular have to play ? I would divide our role into two parts;
one is our role as ordinary citizens. As citizens, we should contribute to a
number of organisations who have come forward, to aid the victims. This
contribution could be financial as well as of our time. Our role however does
not end there. We are professionals who have through training, acquired specific
skills. In order to ensure that citizens continue to care, a robust
infrastructure is required. Our enthusiastic past President Mr. Narayan Varma is
associated with a group of citizens which is contemplating a platform that will
be supported by various Non-Government Charitable Organisations. This effort
needs not only funds but committed support. We the members of the Society
through modalities that will be worked out will support this new platform. We
may communicate with you to understand what commitment the members of our
Society can make.

So much for the events of the recent past. The year 2008 has
been a mixed bag. While the economy was surging ahead in the first two quarters,
the last two have seen a sharp downturn. People are slowly coming to terms and
realising that this slowdown is here to stay for a while. For us, professionals,
the year ahead promises to be exciting as well as challenging.

Even though we have witnessed a national tragedy, I am
confident of a resurgent India. So let us hold our heads high and salute all
those who laid down their lives in the year gone by and welcome 2009. I hope it
brings cheer to all.