The Institute of Cost Accountants of India
(Statutory body under an Act of Parliament)
My Dear Professional Colleague,
On behalf of the Institute, I congratulate Shri Narendra Modi ji on being unanimously elected as the leader of the NDA after getting a massive mandate from the people of this great country and being appointed as Hon’ble Prime Minister of India for the second consecutive term.
The Institute also extends its heartiest congratulations and best wishes to Smt. Nirmala Sitharaman on her appointment as Cabinet Minister of Finance & Corporate Affairs and Shri Anurag Singh Thakur as Minister of State for Finance & Corporate Affairs, Government of India. The Institute is fully committed to work under their able leadership & guidance for regulating the functioning of the corporate sector in accordance with law towards good governance, cost optimization, improving efficiency and ushering an era of accountability for the economic development of the Country.
Celebration of Foundation Day of the Institute
I congratulate all Regions and Chapters of the Institute for celebrating 28th May 2019 as the Foundation Day of the Institute and convey my best wishes to entire CMA fraternity.
Cost Governance Week
I am happy to inform that all the Regions and Chapters of the Institute celebrated celebrated "Cost Governance Week" during 22nd to 28th May 2019 by organizing various Seminars / Round-table discussions / Workshops to propagate cost governance and create brand CMA.
MoU with Arka Jain University, Jharkhand and Institution of Engineers
I am pleased to sign a MoU with with Arka Jain University, Jharkhand on 15th May 2019 during National Students Convocation at Kolkata. The MoU will facilitate members of the institute with graduation degree to purse the Ph.D. program of the Arka Jain University.
I am pleased to sign a path-breaking MoU with The Institution of Engineers (India) to launch an exclusive course for IEI Engineer members, “Executive Diploma in Cost & Management Accounting for Engineers” on 27th May, 2019 evening at Kolkata. Dr. T M Gunaraja, President, The Institution of Engineers (India) signed the MOU on behalf of IEI. Eminent dignitaries from corporate and academia including Vice Chancellor, Dean, Registrar, CFO, Directors and others were present in this historic event.
National Students Convocation
I am happy to share that the Institute successfully organised its National Students Convocation – 2019 on 15th May, 2019 at Kolkata. Professor Basab Chaudhuri, Vice Chancellor, West Bengal State University graced the convocation as the Chief Guest. Other Guests of Honour were Professor Ashok Ranjan Thakur, Vice Chancellor, Sister Nivedita University, Kolkata CS Dr. Shyam Agarwal, Past President of Institute of Company Secretaries of India, and Shri Jasbir Dhanjal, Registrar, Arka Jain University, Jharkhand who also graced the occasion. They released the Convocation Souvenir in the inaugural session. While addressing the vast gathering, the Chief Guest expressed his happiness to award the professional students and also appreciated the Institute’s role in pursuing its vision of cost competitiveness, cost management, efficient use of resources and structured approach to cost accounting as the key drivers of the profession. The convocation witnessed felicitation of qualified CMAs with prizes, rank certificates & medals and participation of eminent personalities including academicians, corporate, professionals and huge number of students cutting across the length and breadth of the country.
To apprise all the members of the activities / initiatives undertaken by the Departments/ Directorates of the Institute, I now present a brief summary of the activities.
ADVANCED STUDIES DIRECTORATE
The Directorate of Advanced Studies organized a National Seminar on “Digital Transformation of Business and Data Analytics” at Bharatiya Vidya Bhavan Institute of Management Science auditorium on 22nd May 2019 at Kolkata. Dr. Paritosh Basu, Sr. Professor, NMIMS School of Business Management, Mumbai and Dr. Somnath Roy, Associate Professor, NMIMS School of Business Management, Mumbai were the main speakers of the National Seminar. Around one hundred delegates from corporate and academia were present.
BANKING & INSURANCE COMMITTEE
The Committee conducted a Webinar on “Techniques in Project Appraisal and Financing” on 20th May 2019 by a Management Consultant which was well appreciated by members.
DIRECTORATE OF CAT
As I had informed in one of my last communiqués that the CAT Directorate commenced online admissions for CAT Course, I am glad to share that the response of prospective students, ROCCs and Chapters to the online admission procedure has been overwhelming. The Directorate has received more than 500 admissions for December 2019 term. I would like to once again thank Chairman-CAT and place on record the efforts of Directorate of CAT and IT Department for implementation of online admissions. I hope the number of admissions may see the upward trend for the coming sessions.
CAT Directorate issued Notification for the CAT Course (Entry Level) Part - I Examination - JULY 2019 term. CAT Committee is striving to revise syllabus of the CAT course based on the requirement of the Industry from an Accountant. The Committee also felt the need to revise the syllabus in view of the changing Taxation Laws in the country. The modalities to revise the syllabus have already been framed by the committee lead by Chairman (CAT) and hopefully soon the revised syllabus with revised study material will be available for the students.
INTERNATIONAL AFFAIRS DEPARTMENT
I am pleased to share that the representatives from the Institute attended the CAPA meetings and events during 31st May and 1st June 2019 in Kuala Lumpur, Malaysia.
INSOLVENCY PROFESSIONAL AGENCY (IPA) OF INSTITUTE OF COST ACCOUNTANTS OF INDIA
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