BCAS President CA Zubin Billimoria’s Message for the Month of September 2025

My Dear BCAS Family,

As I commence my communication to you all, I am filled with profound sadness due to the sudden and shocking demise of Padma Shree CA T. N. Manoharan, Past President of the Institute of Chartered Accountants of India, on 30^th July, 2025. He was not only a towering figure and a remarkable ambassador representing the profession but also a respected statesman. His wisdom, humility and unwavering integrity inspired generations of Chartered Accountants, thereby earning him respect and admiration globally. For us at BCAS, his loss is even deeper since he was a regular participant at various events, including the RRCs, as well as a frequent speaker, the latest being at the 75^th year celebration at the Reimagine event in January 2024. Whilst he has served the profession and the nation in various capacities, according to me his most remarkable contribution was the “100 day turnaround of Satyam” in his capacity as a Board nominee by the Government, for which he did not charge a single rupee, which he very eloquently narrated in his book, “The Tech Phoenix” which he jointly authored. This noble gesture is an apt illustration of what I call the highest level of “Professional Social Responsibility” (PSR), a theme very close to my heart. Hence, it is appropriate for me to share my thoughts on this very relevant concept and its role for professionals and institutions like us.

For Chartered Accountants, PSR is not merely an optional virtue but an ethical imperative that shapes the credibility, trust and relevance of our profession in an increasingly complex world. This responsibility manifests itself in multiple roles — as auditors safeguarding public interest, as advisors guiding sound business practices and as educators nurturing the next generation of professionals. In this context, the Code of Ethics, which lays down the principles of integrity, objectivity, professional competence, confidentiality, and professional behaviour, becomes relevant. Each interaction, opinion and report that we sign carries with it an implicit promise to act with integrity and objectivity, not just for our clients, but for the broader community and society.

At a practical level, PSR manifests itself in several ways, as under:

• Declining assignments that could compromise independence, even if financially attractive.
• Advising clients on long-term sustainable strategies rather than short-term gains at the cost of governance.
• Bringing potential irregularities to light, even when doing so is uncomfortable.
• Helping businesses adopt environmentally responsible practices and integrating ESG reporting into mainstream financial disclosures.

Going forward, the business environment we operate in is evolving rapidly. Globalization, digital transformation and sustainability imperatives are reshaping the contours of our work. Stakeholders today expect professionals to go beyond technical proficiency — they demand accountability, transparency, and foresight.

The Role of Mentorship:

One of the most profound ways to practice PSR is through mentorship. Our profession is built on the foundation of apprenticeship, yet in the rush of deadlines and deliverables, mentoring often takes a back seat. For our profession, mentorship takes shape in various ways as under:

• Learning:- New accounting standards, emerging technologies, regulatory reforms, sustainability disclosures and digital transformation are redefining the contours of our professional role. Accordingly, mentorship serves as a tool for continuous learning.
• Career Guidance:- For students and newly qualified members, a mentor can assist in career decisions — whether to enter practice, pursue industry roles, specialize or study further. For young professionals, mentors provide confidence in decision-making, exposure to real-world problem-solving and a deeper understanding of professional ethics.
• Reverse Mentoring: – Mentorship is a unidirectional 360-degree concept wherein the mentees are more often playing the role of mentors to experienced professionals, especially in the current digital age, to help the experienced professionals gain fresh perspectives and reignite their youthfulness.

BCAS as a Facilitator of PSR and Mentoring:

At BCAS, we are at the forefront in facilitating both PSR and mentoring. In fact, the very purpose and essence of our existence is built around them! We have, over the past seven decades, embodied this spirit both individually and collectively:

At an individual level, PSR and mentoring manifests itself through its members; whether they are part of the core group or other wise who display selfless volunteerism by individually contributing in various ways whether as speakers, authors, co-ordinators and convenors and also participating in community service initiatives organized by BCAS Foundation like the recent tree plantation drive at Wada, details of which are reported elsewhere.

Collectively, PSR and mentoring manifest themselves through:

• Knowledge dissemination by the various technical committees through study circle meetings, seminars, residential refresher courses, etc. These not only help keep the professionals updated with cutting-edge changes in diverse technical fields in an ever-changing and dynamic economic, political and regulatory environment but also provide platforms where informal mentorship flourishes. Many lifelong mentor-mentee relationships have found their genesis at BCAS events. Apart from the hard core Technical Programmes, the two non-technical committees – the SMPR committee and the HRD Committee also conceptualize various programmes and events creating social impact, through financial literacy workshops for students, technology initiatives for senior citizens and marginalized sections and other similar initiatives, if required, jointly the relevant technical committee, with the aim of bringing about sustainable smiles. The ongoing webinar under the DigiSetu series, over four sessions, which aims at providing Tech Literacy for the senior citizens organized by the Technology Initiatives Committee, is one such PSR initiative.
• Public interest advocacy and representation by proactively making timely representations on contemporary policy and regulatory matters, thereby discharging its responsibilities towards various stakeholders.
• Capacity-building programmes in the form of think tanks and research initiatives, both individually and in collaboration with appropriate professional, trade and industry associations and academic institutions, on contemporary topics and policy-level initiatives for onward submission to relevant regulatory and government bodies, thus helping in policy formulation on emerging and relevant areas for the benefit of various stakeholders.
• Community initiatives, including through engagement with BCAS Foundation by organizing blood donation drives, medical camps, promoting education, amongst others, on one hand and for the staff and members on the other hand by organizing picnics, sporting events, family day, etc., to enforce a work-life balance and quality engagement.

In this context, I would like to highlight the felicitation programme of newly qualified CAs recently held, which had a record-breaking participation of over 450 freshers. This programme keeps on setting fresh records each time and represents the spirit of mentoring in the truest sense! This time, the event was addressed by our Jt. Secretary CA Mandar Telang, who took the participants through his journey with BCAS and how it could help in their future journey and also offered other useful tips and guidance. We hope to continue this initiative, coupled with our one-on-one mentoring initiatives going forward.

The Power of Collective Action:

Being a member of the Lions movement, I would like to conclude with a quote by Helen Keller, the famous author and disability rights activist who was deaf and blind, during her address to the Lions, where she highlighted the power of collective action in the following words, which reflect the ethos of BCAS!

“Alone we can do so little; together we can do so much”

A big thank you to one and all!