As you may be aware, we CA C S Hariharan & CA S Srikanth are proposing to stand for election to the Southern India Regional Council and Central Council, respectively, of our Institute. In this connection, we have been meeting in person, a large number of our members across the length and breadth of the Southern Region. We have had the great opportunity of listening to the voice of our members at the grass-roots level.
Based on this we could understand that there are many areas where members are looking for immediate action. We give below a summary of our understanding of these issues for your kind consideration:
· The introduction of the lateral entry scheme for graduates into the course by directly admittingfor articleship is a good move. But, arguably it has taken too long in implementation. Most members feel that the frequent modifications in the curriculum are confusing both the students and members. Such knee-jerk reactions are not conducive for the long term growth of the profession. Many members with decades of experience in the professionhave expressed that the earlier methodology which encouraged a student to join article ship immediately on joining the course (whether as a graduate or as a CPT completed student) was the best approach. The independence and integrity of our profession is built on the strong bonds between a master and his apprentice. It is better that this bonding starts as early as possible. It is strongly felt that we should restore this scheme and not make anymore ad hoc changes in the curriculum.
· While there is a lot of talk on the duties of the profession in ensuring transparency in capital markets, banking and insurance sector and even public spending, the reality is that our wings are being frequently clipped, for no reason at all, by the regulators. It is necessary that we make the regulators clearly understand why reduction of control mechanism like bank branch audit could lead to collusive frauds at a later stage. Further the existing fee structures for Concurrent and other audits of banks and PSUs are unrealistic when compared to the responsibilities undertaken. Further using a tendering process for allotment of audits results in further deterioration of quality through under-bidding. This will reflect badly on the profession in the long run.There is a need for strong representation on this and advocacy at all levels.
· The number of members entering practice is declining. We should create awarenessamong younger members about opportunities in practice. Senior members can be encouraged to be mentors and guide the newentrants. The Institute should create conducive atmosphere for new entrants into the profession, especially from up-country.
· The Institute should provide more value-added services for members in Industry focused on their needs and trends in the field of finance.
· We should ensure that the ICAI Brand is not diluted or confused with other Institutions by taking a polite but firm stance with the authorities.
We do appreciate that there could be other issues too which need to be addressed. We thought that we could write to you to know your view so that we can truly represent our members across the Region.
Our Institute is one among the few great Institutions that continue to be symbols of Independence and Integrity. It is our firm and clear conviction that we, the members of the Institute of Chartered Accountants of India, are not to be so easily written off!
We come to you as an alternative…an opportunity to choose…Democracy is, after all the right of choice which ,should be exercised with care and wisdom as our choices will impact not only on the future of our great Institution but the very fabric of our society and the long term prosperity of our great country.
We look forward to your feedback and input and assure you that we will be your eyes, ears and voice on the Council. Your voice will be heard where it matters. The untold tale of the lone member; that unassuming, hardworking member of our Institute, who toils alone to hold up the good name of our Instituteshall be represented and recognized.
Please help us to do this
With warm professional regards
CA C S Hariharan & CA S Srikanth
No comments:
Post a Comment