Dear professional brethren,

In the immediate past month your Regional Council organised a slew of programmes. I am sure that you must have participated in few of the programmes organised. It was an uplifting experience for me also. I also felt humble being I realised that great sacrifices that my predecessors and the members at large in the profession have put in. It is only thus possible for our professfion to have attained the heights that we enjoy today.

We must strive in every endeavour for excellence. And yes, lest we lose sight of it we must jealously guard our independence. It is only the presence of this intangible aspect that commands for us the greatest respect and confidence that is bestowed on us by stakeholders in the financial system. The future as I envision it, is one that is full of opportunities for members. The financial systems of the world are very soon going to be the playfield for the members of our Institute. Our grounding is the very best and all we need to do is to keep updating ourselves with the latest developments worldwide in order to keep the growth curve heading upwards.

We in the Regional Council have laid out a very ambitious programme for participation of the members. A workshop of twelve days on International Taxation is being organised jointly with Direct Tax Committee of ICAI from 30th October 2008. This will be on a weekly basis and we propose to bring the best minds in the country to address attending members. Since we will be able to accommodate only 50 persons; members will be well advised to register themselves well in advance. The complete detail of workshop will be hosted on website of ICAI & NIRC shortly.

International Financial Reporting Standards are going to present our members with tremendous opportunities for growth. This is a momentous occasion when professionals like us in developing countries will be presented with an opportunity to showcase their skills with the best in the world. In order that members are abreast of the latest developments a 2 days seminar will be held in collaboration with the Continuing Professional Education Committee of the Institute of Chartered Accountants of India. This will extend for two days on the 5th and 6th September 2008. We will endeavour to arrange a similar workshop on IFRS very soon in the same manner as we are conducting such a course on International Taxation.

NIRC is going to organise a International Study Programme of Members in the month of October and will travel to Singapore and Malaysia. NIRC has also scheduled a Mega Conference in the month of October for Members in Industry, which is growing in large numbers. The details will be hosted on the website of NIRC soon.

This is the year of the Olympics and they have come to Asia. There is a growing awareness of the importance of participation in sporting activities. The old adage of a healthy body being a prerequisite for a healthy mind is now being appreciated in the fullest manner. In this context your Regional Council is organising a Cricket tournament in which teams from study circles, professional firms and branches are invited to participate .The details of all these programmes are detailed elsewhere in this issue of the Newsletter.

It is imperative that the members participate in the various programmes organised by NIRC in increasing numbers as their attendance is necessitated by the ICAI norms relating to the completion of hours for attendance in CPE programmes.

As I mentioned earlier in these columns your Regional Council has had altogether a rather busy month. It is through the medium presented by this column that I as a matter of routine share with you the outcome of these professional gatherings.

On the 18th of July 2008 the Annual General Meeting of the Northern India Regional Council was held. It was well attended and we presented the annual report of the regional council at this meeting. Subsequently a function was organised to honour our seniors in the profession. It was a privilege to felicitate these pillars of he profession. If today we tread as angels with our heads in the clouds; I daresay; it is only because of these elders in the profession who have laid down a foundation capable of resisting all sorts of tremors.

A two days Sub-Regional Conference was conducted in the salubrious climes of Chail, Shimla (H.P) on the 20th and 21st of July 2008. At this seminar we had a varied gathering from various adjoining areas and matters of professional interest were discussed. We welcome suggestions from branches of the NIRC to hold such conferences on matters of professional interest. Your Regional Council will extend all assistance that is required for the smooth handling of such conferences. on the very same day ,we also got the chance to have the interaction with the chairman and other office bearers of 17 branches out of 18 branches of Northern India and discuss the lot for overall development of profession and infrastructure facilities of branch.

I would like to apprise the member that to have the better infrastructure at branch level in the form of land & building, I met the Principle Secretary of Haryana with the Convenor of Branch Infrastructure Committee of NIRC Sh.Gurinder Garg (Chairman of Sangrure branch) and also with office bearers of Faridabad Branch. The meeting was concluded with a positive note.

A joint seminar was organised with the South Delhi and Safdarjung Enclave CPE study circle on the 23rd of July 2008. The topic of MCA 21 and Representation with Government Authorities was discussed. The learned faculty was very capable and elucidated on the topic with great erudition.

A series of seminars was organised jointly with the East Delhi CPE Study Circle. Various topics relating to taxation were discussed. The series were held on the 25th and 26th of July 2008. I can only mention that one feels very proud to observe the level of preparation by the faculty and it is enlightening to participate in the lively exchange of views in the discussion that followed.

On the 2nd of August 2008 a seminar was held on Tax Audit. This audit forms one of the most important functional applications of our professional responsibilities. In the afternoon session seminar on Amalgamation , Merger , Demerger ,acquisition and Takeover of business organisation was organised, in the session the aspects of Merger and Networking of CA firms was also covered.

I have mentioned earlier also in these columns the tremendous benefits that accrue from attending concentrated courses on Topics of professional importance. In this context a capsule workshop was conducted on 5th, 6th and 7th august 2008 on Company Law. Various aspects of the Companies Act, 1956 were covered for the benefit of the participants. We look forward to members attending these programmes in great numbers.

In conclusion I must mention that this has been a most satisfying month. I look forward to your continuing advice and support in the conduct of the affairs of the NIRC. 

Jai Hind and Wishing you all a very happy Independence Day. 

With warm personal regards,

June 7, 2008