BCAS President CA Zubin Billimoria’s Message for the Month of May 2026

My Dear BCAS Family,

As I reflect on two recent landmark events with which we were associated, the beginning of the new financial year could not have been more auspicious. In the first event held on 7^th April, 2026, at the BSE Convention Centre, BCAS was the Support Partner for Dharmam Chara 2026 (walking the path of Dharma and its relevance to Corporate Life), a unique programme by Sri Pratyaksha Charitable Trust under the auspices of Shri Kanchi Kamakoti Peetam, in the benign presence of His Holiness Jagadguru Pujyashri Shankara Vijayendra Saraswathi Shankaracharya Swamiji (“His Holiness”).

This was followed by a visit by His Holiness on 9^th April, 2026, to bless our office and record a Podcast on “Culture – Foundation for Strong India | Sanskriti – Majboot Bharat ki Neev” moderated by our Past President, CA Mihir Sheth. His Holiness highlighted the importance of ensuring that the benefits of growth and democracy reach every section of society, including those in the remotest regions. We are truly humbled by the following remarks by His Holiness in the visitors’ book:

“Visit to this institution which catalyses economic growth through useful audit & account services has been revealing & highly satisfying. Your contribution to sustained growth of the nation reaching out the gains of democracy to all sections of society, even in deep hinterlands, is commendable. National policies cannot lose sight of the basic dharmic characteristics of our nation. You have been following that path towards Viksit Bharat. Blessings & Prayers for continued good work.”.

“Jaya Jaya Shankara .. Hara Hara Shankara”.

The above events have inspired me to reflect on the theme of spirituality, coupled with dharma, and its impact on professionals and institutions like ours.

Concept of Spirituality:

In simple terms, it refers to one’s inner feelings: the pursuit of meaning, purpose, and connection to something larger than oneself. It is perceived by many as comparable to religion, which is more focused on traditions and rituals; however, the two are not identical, as spirituality is much broader and can be professed even by someone who does not follow any religion.

Impact on Professionals:

The moment we qualify as CAs, we are bound not only by technical obligations and learning but also by various ethical considerations. In recent years, our profession has faced various regulatory and other challenges, such as fraud and other ethical compromises driven by pressure, which have shaken public trust in the integrity of the financial information we report. The response to all this is through stricter standards, enhanced penalties, and more elaborate compliance architecture. In the long run, professional excellence can be sustained only through our inner spiritual calling and self-reflection by maintaining integrity and ethics under pressure.

Our training is a form of spiritual commitment dressed in professional language. When we swear to uphold public interest, to act with integrity and independence, to serve the cause of truth in financial matters- we are, subconsciously, articulating a form of dharma– by answering questions like who we are, what our duty is, and how we should act in challenging situations. We are placing ourselves in the service of something larger than our own interests, which is fundamentally a spiritual act.

Spirituality can help professionals in several ways, some of which are as follows:

• Ethical Clarity under Pressure– There are times when our clients or employers force us to compromise on certain transactions or in certain situations. In times like these, a professional who has cultivated an inner life through spiritual practices such as prayer, meditation, and reading would be able to resist the urge to compromise.
• Practising Humility- This manifests itself through knowing one’s limitations since professional overconfidence can sometimes lead to serious unintended consequences with clients, regulators and stakeholders. Spirituality teaches us humility and accountability, which improve our professional relationships.
• Compassion while Serving- Many of us serve small businesses, family enterprises, and individuals navigating tax and compliance matters with limited knowledge and significant anxiety. This could manifest in situations where a small business owner receives a show-cause notice for Income Tax or GST for the first time, or in a family business where there are disputes over succession. While technical competence and the commercial aspect of our engagement come into play, it is the spiritual impulse, through recognition that the person across the table is a human being with limitations, that transforms the nature of our service and engagement as trusted counsellors, thereby making us better advisors.

BCAS’ Role:

BCAS is truly an institution with a purpose, founded almost contemporaneously with the ICAI by professionals who understood that ethical rigour is non-negotiable, a commitment that continues to date. The sense of volunteerism, which sustains its functioning, reflects a deep inner calling. Our success is measured not only by the seminars conducted, certifications awarded, publications issued, or representations made, but also by the positive impact they have on professionals and stakeholders, including regulators, without being constrained by regulatory burdens. Apart from the technical committees, non-technical committees, such as the HRD committee, also conduct many programmes to awaken the spiritual instincts of students and professionals. Finally, the BCAS Foundation, which supports various social activities, reflects the spirit of Dharma in ample measure!

Professional Duty is Spiritual:

To conclude, I would like to refer to a quote on duty by Swami Vivekananda in Karma Yoga (Volume 1), which perfectly encapsulates the spirit of our professional and ethical obligations.

“Every duty is holy, and devotion to duty is the highest form of the worship of God”.

A big thank you to one and all!