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GANDHIDHAM BRANCH OF WIRC OF ICAI CHAIRMAN’S MESSAGE Managing Committee Warm greetings to all of you! CA RAJ IV SINGH You may find it interesting that when the first woman Chairman chartered accountant Ms. Ethel Watts called 98798 41029 accountancy an eccentric choice of profession for CA KARTIK VARAIYA women in 1924, it didn’t sound strange, including in Vice Chairman 9825071722 India. But with Ms. Shirin K. Engineer of Mumbai and CA ANIMESH MODI Ms. R. Shivabhogam of Chennai becoming the first Secretary and second Indian woman chartered accountant 909937733 respectively in 1933 and 1947 respectively, the story CA RAJENDRA SHAH Treasurer changed in India. 9426731560 CA MEHUL THAKKER Time has come full circle since then, with more and Member more women joining the realm of our profession. 9601662110 Today, we can boast of women comprising more than CA JYOTI HARSH 25% of our total membership as on today. Member 9825351565 Complementing this figure, girls today have 40% share in our active studentship. To, add on this our WIRC Chairperson is CA. Shruti Shah, who had taken baton and leading us in tremendous way. However, I NEWSLETTER COMMITTEE feel that the immense potential that lie embedded in these encouraging numbers is still vastly untapped and need to be harnessed, strengthened and CA KARAN THACKER 9979878590 empowere d further in the interest of our profession, CA JITESH LIYA our society and our nation. 81285 67696 CA KAVITA BULCHANDANI Keeping that very objective high on my Action Plan 9825719356 2016-17, I have planned many an initiative CA MEET PALAN exclusively for women in accountancy through a new 9978076564 Women Member Empowerment Committee. Ta king that mission forward, we are all set to launch Exclusive programmes and seminars on women Branch Nominee: chartered accountants have also been lined up. CA Hardik P Shah Page 1 GANDHIDHAM BRANCH OF WIRC OF ICAI I find women quite skilled at multitasking, and they tend to take a larger share of responsibility wherever they are, including in our profession. As such, if we empower women, Upcoming Events: we actually empower ourselves. Mahatma Gandhi had said, "You must be the change you wish to see in the world". As such, we have taken our step to How to prepare for CA Exam: 18 th April stress the theme of women empowerment. Let us all join hands to strengthen our women so as to eventually strengthen the profession and the nation. Half day seminar on Appeal under Income Tax: Let’s Gear Up for Effective Bank Audit 23 rd April As you are aware, a healthy banking industry is the backbone of sustainable socio-economic growth in our country. Full Day Workshop on Indirect Tax: However, I am constrained to note that our banking system is under strain because of mounting Non Performing Assets th 30 April (NPAs), which according to Assocham study, is expected to reach on higher side end of FY16. As the keepers of financial discipline in the country, this situation should worry us all the more. Given our training, exposure and skills, we can play a crucial role in reversing rising trend of NPAs and vigilantly keeping our banking system healthy. By lending credibility to their financial statements, audits and auditors have an extremely important role to play in building a resilient banking industry. As such, the exercise of Bank Branch Audit assumes paramount importance for the banking industry, the banking regulator, our members, as well as the nation as a whole. E -NEWSLETTER:APRIL, 2016 Page 2 GANDHIDHAM BRANCH OF WIRC OF ICAI Let’s conduct these audits in the most professional manner keeping a broader national vision in mind. You will be aware that to help you to carry out this nationally important assignment in most proficient and ‘value add’ manner, the Auditing and Assurance Standards Board has recently released its 2016 Guidance Note on Audit of Banks. This Guidance note contains comprehensive guidance on the various critical aspects that the members need to be wary of while conducting Bank Branch Audits. Let’s also ensure compliance with relevant Standards on Auditing while carrying out Bank Audit engagement. Our Initiatives for Members Initiative for Service Tax Practice: The major shift in taxing services would lead to at least 25 per cent more assessee being covered under the levy of service tax in the coming year. The simplification of the returns would lead to the onus of the compliance being shifted to the tax payer. This would require that professionals are equipped to advise and assist the service providers as well as the service receivers [under reverse charge] to register, pay and file returns. The challenges for a person liable to pay the tax would be to examine the applicability of the threshold limit, coverage under exclusion/inclusion, coverage under exemption, availing of appropriate credit, choosing of abatement [partial exemption of value], resolution of disputes, recommending of disclosures as the onus of compliance would be with the person liable to pay and general compliance with the rules. This would also require the members of the profession to update themselves on the changes and their effect on the clients. To this objective, we have planned to have a special a Certificate course on “Enabling Service Tax Practice” for Chartered Accountants for those who wish to start in this value additive area of practice or for those who have already started in any of the areas of indirect tax, mainly in VAT or service tax. Workshop on Central Excise &Customs: I am happy to share the information that we are going to launch a one or two day workshop on Central Excise &Customs, in order to enhance member’s interest towards indirect tax practices. And also to make them competent for GST era. E -NEWSLETTER:APRIL, 2016 Page 3 GANDHIDHAM BRANCH OF WIRC OF ICAI Initiatives for Students Preparing Students for CA Examination: As you are aware, we had organized crash courses for the students through the Branch and received tremendous response for the same. Continuing the practice, we are also going to organize mock tests for the CPT Examination. A rigorous follow-up is also being done to ensure that maximum number of students can benefit from this initiative. Further, we are also going to organize a seminar for students on How to face CA Examination. I am sure these developments and initiatives will go a long way in boosting our profession. Before I conclude, let us remind ourselves that knowing is not enough; we must simplify the knowledge and apply it to the fullest satisfaction of our clients and other stakeholders. Knowledge is a process of piling up facts; wisdom lies in their simplification with creativity. Technical skill is the mastery of complexity, while creativity is the mastery of simplicity. Let’s always keep in mind that with the hard work, dedication and intricate knowledge we can reach pinnacle of your chosen area of professional activity. Remember: man at the top is usually someone who has been in the habit of going to the bottom of things. Knowing ‘how to…’ is important to execute a job but knowing ‘why’ and ‘what’s to be done’ is all the more important, for this is the trait of a visionary. If you do little things well, you’ll do big ones better. “We are what we repeatedly do. Excellence, then, is not an act, but a habit,” rightly says the ancient Greek philosopher Aristotle, and this saying aptly fits our profession . It is widely believed that a honey bee visits two million flowers to collect 500 mg of honey. So, our workload is nothing as compared to them. Let’s draw inspiration from words of wisdom by American businessman Donald McIntosh Kendall: The only place where success comes before work is in the dictionary. Therefore, keep working. I extend all of you my best wishes for an all-round success. I take this opportunity to wish all of you on the forthcoming festivals –Shri Ramnavami, Mahavir Jayanti and Chetichand-and sincerely hope that all of us will celebrate them with verve, reverence and peace. Touch the Sky with Glory…… E -NEWSLETTER:APRIL, 2016 Page 4 GANDHIDHAM BRANCH OF WIRC OF ICAI FOCUS: THE PROFESSIONAL DEVELOPMENT AREA Compiled by - CA Kavita Bulchandani Here are some tips to become an awesome speaker After you have overcome your nervousness, here are some tips to make sure you are a hit in public speaking 1. Know your subject& speech well. 2. Master Presentation Now that you have mastered the subject, master the presentation .. Read information on your subject from library or online. When you become informative on your subject and know it well, the audience will pick up information what they can. Rehearse, rehearse difficult parts. Memorise the order of message. Ice breaker: talk on subject you know the best, 'yourself', practice to say your story well. Make some small sheets to remember thesequence . 4. Never apologize 3. Know your audience & space Take this as an eye-opener, never apologize on minor mistakes or on well forgetting few words, remember you audience won't notice it. Locate your limitations. While addressing an Keep going with the flow, there may be an important point you want audience such as teachers or professors you to make, small issues take away attention from important points. can use technical language to impress upon your research and knowledge well. People want you to do a good job and hoot for you! While dealing with kids talk about how one can learn through research. Have a particular understanding of and respect their geography, politics, culture and age &identify traits of the group.

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