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Accountancy is the art of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the financial? s form statements that show in money terms the economic resources under the control of management; the art lies in selecting the information that is relevant to the user and is reliable. Accountancy is a branch of mathematical science that is useful in discovering the causes of success and failure in business.

The principles of accountancy are applied to business entities in three divisions of practical art, named accounting, bookkeeping, and auditing. Accountancy profession in Bangladesh: ACCOUNTANCY is a critical component of a market economy’s infrastructure and economically sound activity would be impossible without it. Accountancy not only provides information on the financial position of operations but is also the foundation of a country’s fiscal system playing a vital role in corporate governance. It enforces prudential requirements for banks, insurance companies, securities dealers, and other market participants.

As a result, the accounting sector is among the most regulated in the world’s advanced economies in terms of its liabilities towards the society. In Bangladesh the Institute of Chartered Accountants (ICAB) was founded in 1972 with only 80 members. As of 2010, the number has grown to 1,200, out of which 270 are in practice and the remainder are either serving for the Government, public enterprises, NGOs and donor organizations and different corporate houses. The first initiative of developing a Professional Accountancy body came from Scotland.

A group of accountants obtained recognition of the Royal Charter for their body in 1854. Following this, the English Institute obtained theirs in 1880. Gradually professional bodies for accountants started forming across countries. Kettle (1958) reported that from the late 19th century British accounting firms started establishing offices in other countries. Deloitte, Deve, Griffiths and Co. , opened offices in 17 foreign cities during 1890-1914. With the start of the British industrialization, the UK became the birthplace of the accounting profession.

The British assisted the Americans with capital to shift to an industrial economy. British auditors accompanied the investors to provide reliable financial information, as there was no organized American accounting body. The British auditors started organizing the accounting profession and training the Americans. The US accounting profession gradually grew under the leadership of British Accountants (Carey, 1970, pp. 53-58). Finally the American Association of Public Accountants was founded in 1887 with its first President being a Briton (Samuels and Piper, 1985, p. 0). Gradually the emergence of such professional bodies in developing countries representing nationally qualified accountants grew in number and they began competing with those having foreign qualifications. Overview of influence over accounting: Accountancy Profession in Bangladesh has been transplanted through British auditors accompanying investors during colonization. Soon afterwards branches of British affiliated accounting societies were established in India and Burma in 1932, and Bengal in 1933 {Johnson and Caygill (1971)}.

Setting up of the East India Company in Surat during 1608 is considered having significant influence over the development of British accounting methods throughout the Indian subcontinent. Therefore, East India Company’s rule in Bengal from 1757-1857 and then direct British rule up to 1947 has significantly influenced the accounting and reporting of this region. Moreover, the commercial code, education, training, along with business education and professional training of accountants was highly influenced with the establishment of UK accounting societies such as Briston (1978) and Johnson & Caygill (1971).

Since the World War II, the Americans have replaced the British as the engine of capitalist development. They have influenced accounting and reporting standards worldwide through increased activities of multilateral donor agencies such as IMF and the World Bank. In 1945 the Americans changed Japanese accounting code after the War. Similarly, accounting code and Securities and Exchange Commission (SEC) of South Korea, Philippines and Taiwan were modeled following the US Accounting System after US investment flowed to these countries in the post World War II period.

In Canada, Hong Kong, and Singapore the accounting system shifted towards the US and IAS methods, after the International Accounting Standards (IAS) Committee formed in 1973. Since the fall of the command economies of Eastern Europe and the former Soviet Union during the 1990s, Anglo-American dominated and IAS prescribed accounting and reporting policies were implemented there in order to attract funds from the IMF, WB and EDB for reforming their economic system. These countries then designed the accounting systems of their utilities in line with the US utility companies.

This theory illustrates: ‘Trade follows Flag’ and with that ‘Accounting follows the Trade’. Moreover, accounting and reporting methods for Banks and Financial Institutions in the name of IAS 30 have been modeled under the G-7 dominated Bank of International Settlement (BIS) made unilaterally compulsory for the banks of Developed Industrialized Countries and for the Least Developed Countries — a technique of influencing accounting system in poorer countries. Common perception on accounting profession: In Bangladesh, in the eye of a layman, auditors are believed to responsible for the company accounts which is not the case.

The Companies Act requires at least two of the company functionaries sign the accounts after approval by the Board. Auditors’ responsibility begins with accounts prepared by the company and ends with their expression of an opinion in the audit report. The audit report is a formal communication of the accounts between the auditors of the enterprise and the people to whom they report. Public enterprises in Bangladesh generally publish their accounts on request. Moreover the accounts are only produced after much persuasion. Despite the requirements of the legislation, accounts do not exist.

In many cases, the annual reports of these enterprises are prepared without containing accounts. Current state of audit fees: In Bangladesh, the most pitiable condition is the audit fee of public sector enterprises (PSE) and Private Sector Companies. The audit fees of the PSEs were fixed during the Pakistani era and have continued with slight increase. These fees are unimaginably low compared to that of India and Pakistan. The audit fees of the Central bank of Pakistan are Rs. 3,000,000 whereas the same in Bangladesh was Tk. ,200,000 in 2003, Tk. 3,500,000 in 2004 and later Tk. 2,600,000 in 2007, while the Reserve Bank of India pays Rs. 4,500,000. Audit fees of state-owned commercial banks in Bangladesh are less than 1,000,000 for auditing portfolios of more than Tk. Tk. 100 billion to 200 billion (10,000 to Tk. 20,000 crores). Audit fee of Bangladesh Power Development Board is less than Tk. 7,500,000 to audit a Balance Sheet of more than Tk. 260 billion (26,000 crore) and the Rural Electrification Board Tk. 152,000 for auditing a Balance Sheet of more than Tk. 5 billion (7,500 crore); for the T&T Board it is Tk 170,000 for a Balance Sheet of Tk 50 billion (5,000 crores). Interestingly BTCL (formerly BTTB) has discontinued their private sector audit since 1997 and has no financial statement prepared or audited thereof. Jibon Bima and Shadharon Bima Corporation are also in a similar state as BTCL. By any comparison, the audit fee of India, Pakistan and Sri Lank is substantially higher than that of Bangladesh. Even the audit fee of private sector foreign banks are much low compared to our neighboring countries.

Demand forecast for chartered accountants: No forecast for Chartered Accountants exists in Bangladesh. The two-year plan (1978-80) set a target for the number of Chartered Accountants to be 3,200 (table 11. 6, p: 246). In India, the ratio of Chartered Accountants to the overall population is 1: 23,333. Applying this as a standard, in Bangladesh (Parry, 1990) the estimated figure entails an increase of more than 4,000 Chartered Accountants, which needs reassessment. Currently, Bangladesh has around 1,200 CAs, whereas Pakistan has over 3,000, Sri Lanka has over 2,700 and Nepal has around 270 CAs.

As the current economy of Bangladesh is expanding rapidly, it is estimated that the number of qualified accountants needed is more than 12,000. Among the four nationalized commercial banks in Bangladesh two do not have any professional accountants and the other two having professional accountants are not in-charge of the accounts department. Around 90 banks and insurance companies only employ 10-15 professional accountants. Out of 52 state-owned enterprises (SoEs) only 14 have accounting professionals. In the 250 listed companies, only 30 employees are qualified accountants.

The government of Bangladesh does not employ any professional accountants in managing its budget of over Tk. 1150 billion (115,000 crores). These facts go to reveal that Bangladesh seriously needs proper public accountability. Reassessment of professional accountants in the country is needed. Initiatives of ICAB: The ICAB has been heading towards internationalization by entering into regional and international forums like South Asian Federation of Accountants (SAFA), Confederation of Accountants in Asia and Pacific (CAPA) and International Federation of Accountants (IFAC).

The ICAB has adopted the latest version of IFAC code of ethics, all the 8 IFRS as BFRS and 28 IAS as BAS then published those standards in the context of Bangladesh. It also introduced Chartered Accountancy education for the English stream students with GCSE & A-Level backgrounds. During 2007 the Institute of Chartered Accountants in England & Wales (ICAEW) had been awarded a contract under the Economic Management Technical Assistance Program (EMTAP) called the “Twinning Project” funded by the WB to strengthen accounting and auditing standards practice in Bangladesh.

In 2009 the ICAB signed a MoU with the ICAEW under the Twinning Project and developed a new syllabus in line with IFAC requirements. The new syllabus has been drawn according to the requirements of ICAEW, abandoning the old syllabus. It is effective from January 2010 with its first examination at the Knowledge Level to be held in May 2010. The first exams for the Application Level and Integration Level will be held in November 2010 and May 2011 accordingly. Existing ICAB members who are interested to become members of ICAEW can qualify by fulfilling certain conditions.

Implementation of this syllabus will open the doors for Bangladesh Accountancy Professionals in the global market. The twinning project expected that once the current reform process is fully implemented it would increase the pass rate of candidates, meeting the local and international demand for accountancy professionals. Conclusion: The British rule for 190 years and then of Pakistan for 24 years without any significant modification have helped in transplanting British accounting over Bangladesh.

Bangladesh is now shifting towards the IAS/IFRS based system and adopting its terms of measurement, recognition, reporting and disclosures of accounting information in compliance to US modeled SEC requirements. The imperatives for the development of accounting skills are enormous for establishing transparency within Bangladesh. Seeing the growing demand for accountancy professionals in the global perspective, the ICAB has begun to implement internationally accepted standards.

It has also taken the initiative to reform its existing Chartered Accountancy course by introducing a new syllabus in line with the ICAEW requirements allowing local CAs to be competent in the global market. Accounting Professionals in Bangladesh urgently need to emphasize more on developing universally recognized knowledge based skills. Unfortunately corruption is entrenched in the vein of the social system of the country under the public sector financed economic management and the accounting profession has played its role under intimidations.

Steps must be taken soon to address these matters and bring a positive change to the economy of Bangladesh. The shifting of economic philosophy of the policy makers from command to market has increased the demand for professional accountants. Development of capital market as a source of finance has further enhanced the need for accountancy professionals. When foreign direct investors come to Bangladesh for the first time they look for reputed accountants and tax advisors.

Accountancy professionals with a global blend of knowledge and skills can deliver this kind of service to the foreign investors. With the right kind of financial, fiscal and regulatory information the accounting professionals can help foreign and local investors to establish business and create employment. The author is the current President of the Institute of Chartered Accountants of Bangladesh (ICAB) and a Partner of HodaVasi Chowdhury & Co Chartered Accountants, an Independent Correspondent Firm to Deloitte Touch Tohmatsu. Accountancy profession in World:

Chartered Accountants were the first accountants to form a professional body, initially established in Britain in 1854. The Edinburgh Society of Accountants (formed 1854), the Glasgow Institute of Accountants and Actuaries (1854) and the Aberdeen Society of Accountants (1867) were each granted a royal charter almost from their inception. The title is an internationally recognized professional designation. Chartered Accountants work in all fields of business and finance. Some are engaged in public practice work, others work in the private sector and some are employed by government bodies.

Chartered Accountants Institutes require members to undertake a minimum level of continuing professional development to stay ahead of their peers. They facilitate special interest groups – lead academic and professional thinking in accountancy. They provide support to members by offering advisory services, technical help lines and technical libraries. They offer opportunities for professional networking and career and business development. In the United States the approximate equivalent is the certified public accountant. United Kingdom

In the UK, there are no license requirements for individuals to describe themselves or to practice as accountants, but to use the description “Chartered Accountant” they must be members of one of the following organizations: • the Institute of Chartered Accountants in England & Wales (ICAEW) (designatory letters ACA or FCA); • the Institute of Chartered Accountants of Scotland (ICAS) (designatory letters CA); or • the Institute of Chartered Accountants in Ireland (ICAI) (which is a UK body as it operates in Northern Ireland, designatory letters ACA or FCA). Although three other UK accounting bodies were also formed by Royal Charter, they grant separate designations to their members. ) The three Institutes above admit members, who become Chartered Accountants, only after passing examinations and undergoing a period of relevant work experience. The ICAEW requires that students complete 15 examinations as well as 450 days of relevant work experience. Once admitted, members are expected to comply with ethical guidelines and gain appropriate continuing professional development. Fully qualified members of the ICAEW earn the designation ACA (Associate Chartered Accountant).

After 10 years membership, members are invited to apply for fellowship of the Institute and earn the designation FCA (Fellow Chartered Accountant). Chartered Accountants who engage in public practice work (i. e. providing services to the public rather than acting as an employee) must gain a “practicing certificate” by meeting further requirements such as purchasing adequate insurance and undergoing regular inspections. Chartered Accountants holding practicing certificates may also become “Registered Auditors”, providing they can demonstrate the necessary professional ability in that area.

A Registered Auditor is able to perform statutory financial audits in accordance with the Companies Act 2006. Further restrictions apply to accountants who work as insolvency practitioners. Republic of Ireland In the Republic of Ireland, Chartered Accountants are generally members of the Institute of Chartered Accountants in Ireland and use the designatory letters ACA or FCA. Chartered Accountants may also be members of the Institute of Chartered Accountants in England and Wales or the Institute of Chartered Accountants of Scotland.

EU accountants Under the Mutual Recognition Directive, EEA and Swiss nationals holding a professional qualification can become members of the equivalent bodies in another member state. They must, however, pass an aptitude test in understanding local conditions (which for accountants will include local tax and company law variations). The local title is however not available for use if the professional does not choose to join the local professional body. For example a holder of the French ‘expert comptable’ qualification could ractice as an accountant in England without taking a local test but could only describe him/herself as “Expert Comptable (France)” not “Chartered Accountant”. Within the EEA, only the UK and Ireland have bodies that issue the Chartered Accountant title. Australia Chartered Accountants in Australia belong to the Institute of Chartered Accountants of Australia and use the designatory letters CA. Some senior members of the Institute may be elected Fellows and use the letters FCA. New Zealand In New Zealand, Chartered Accountants belong to the New Zealand Institute of Chartered Accountants and use the designatory letters CA.

Some senior members may be elected Fellows and use the letters FCA. There is also a mid-tier qualification called Associate Chartered Accountant with the designatory letters ACA. Associate Chartered Accountants are not eligible to hold a Certificate of Public Practice and therefore cannot offer services to the public. Canada In Canada, Chartered Accountants must be members of the Canadian Institute of Chartered Accountants (CICA). However, CICA membership must be held alongside membership of at least one CA institute (or ordre in French) of a Canadian province or territory.

It is not possible to join the CICA directly. Auditing rights are regulated by provincial governments. In British Columbia, the Business Corporations Act (which had replaced the longstanding Company Act) provides that only CAs, CGAs (Certified General Accountants), or anyone who has been granted an accounting licence by the provincial regulatory body may audit public companies. In Prince Edward Island, only qualified CAs and CGAs can perform public accounting and auditing in accordance with the Public Accounting and Auditing Act.

In all other provinces, except Quebec and Ontario (detailed below), only qualified CAs, CGAs, and CMAs (Certified Management Accountants) may audit public companies. Historically Quebec and Ontario only allowed CAs to audit public companies. However, CGAs and CMAs can audit a selected list of public bodies in Quebec. In 2004, the Ontario government passed legislation that would enable CAs, CGAs and CMAs to practice public accounting under a reconstituted Public Accountants Council. In theory, qualified CGAs, CMAs and CAs can be eligible for public accounting licenses.

In fact, Ontario CGA’s training was found not to meet the legislated standards to be issued licences in late 2008 and are attempting to have their training approved. CORRECTION TO THE ABOVE: as of June 23, 2010 technically there is no more difference between CGA and CA designations. CGAs are now allowed to issue audit opinions. CGA is also recognized in 170+ countries through their partnership with ACCA. CMA is still not allowed to issue audit opinion for publicly traded companies. They are not recognized by ACCA either.

In August 2005, the Agreement of Internal Trade (AIT) panel issued a report recommending Quebec to change its legislation by opening public auditing to qualified accountants who are not CAs. On November 20, 2009, Quebec passed regulations granting statutory auditing rights to qualified CAs, CGAs and CMAs. The size of the accounting bodies varies across Canada. In Ontario and Quebec, CA is larger than CGA or CMA, however CGA is the fastest growing amongst the three bodies. In Manitoba and British Columbia, CGA is the largest accounting body. Canadian Chartered Accountants use the designatory letters CA.

Some senior members may be elected Fellows and use the letters FCA. However, a Canadian CA who is a member of a different institute/ordre to that of the province or territory in which he or she resides may face a restriction on using designatory letters in that province or territory. It is however normally straightforward to transfer membership from one provincial institute to another. The Canadian CA is one of the accounting designations that can be transferred to an American CPA via a reciprocity exam, although with several complications.

A significant minority of US states do not offer reciprocity and the ones that do often require additional education or experience before granting a CPA license to a Canadian CA. Qualification to become a CA requires an undergraduate degree plus articling experience and, depending on the province, additional education. Candidates in all provinces (and Bermuda) are required to pass the 3-day Uniform Evaluation (UFE). South Africa In South Africa, SAICA (South African Institute of Chartered Accountants) regulates the CA(SA) designation (Chartered Accountant (South Africa)).

People seeking to qualify as a CA (SA) normally begin with a bachelor’s degree in accounting. They then complete a CTA (Certificate for Theory in Accounting), followed by part one (QE) and part two (PPE) of the qualifying exams. They must also complete three years of practical experience, working for a registered training office. Articled clerks who switch employers during this period are required to extend their training by six months. A separate registration is needed for Chartered Accountants wishing to act as auditors in public practice, namely the RA (Registered Auditor).

The RA designation is conferred by IRBA (Independent Regulatory Board For Auditors), (previously known as PAAB (Public Accountants and Auditors Board)) in terms of the Auditing Profession Act (AP Act). Chartered Accountants who are not registered auditors may not act as or hold out to be auditors in public practice. However, the AP Act does not prohibit non-RAs from using the description ‘internal auditor’ or accountant’ or from auditing a not-for-profit club, institution or association if he or she receives no fee for such audit.

The Training Outside Public Practice (TOPP) programme has a financial management focus; TOPP trainees can thus become chartered accountants with a more limited knowledge and experience of auditing than those who undergo the TIPP programme (Training In Public Practice), but with a more extensive financial management and business experience than the TIPP learners. In South Africa the companies act has changed with effect July 2010, to allow companies without a public interest to choose between an audit and a review.

A review is not an attest function and will be performed by Accountants whom are members of bodies, that are members of the International Federation of Accountants (IFAC). In South Africa these bodies are: CIMA, ACCA, SAICA, and SAIPA. India In India, the profession of chartered accountancy is regulated by the Institute of Chartered Accountants of India which was established by Parliament under the Chartered Accountants Act of 1949. Since then, the term Chartered Accountant has been used in place of Indian Registered Accountant. As of April 2009[update], ICAI had more than 150,000 registered members.

It considers itself the second largest body of professional accountants in the world. Pakistan The Institute of Chartered Accountants of Pakistan (ICAP) was established on July 1, 1961 to regulate the profession of accountancy in Pakistan. It is a statutory autonomous body established under the Chartered Accountants Ordinance 1961. As of January 2010[update], around 5,500 persons were registered with the Institute as Chartered Accountants. Sri Lanka Chartered Accountants in Sri Lanka belong to the Institute of Chartered Accountants of Sri Lanka and use the designatory letters ACA.

Some senior members of the Institute may be elected Fellows and use the letters FCA. List of institutes of Chartered Accountants: • Bahamas Institute of Chartered Accountants • Canadian Institute of Chartered Accountants • Institute of Chartered Accountants in England & Wales • Institute of Chartered Accountants in Ireland • Institute of Chartered Accountants of Australia • Institute of Chartered Accountants of Bangladesh • Institute of Chartered Accountants of Barbados • Institute of Chartered Accountants of Ghana • Institute of Chartered Accountants of Guyana Institute of Chartered Accountants of India • Institute of Chartered Accountants of Jamaica • Institute of Chartered Accountants of Namibia • Institute of Chartered Accountants of Nepal • Institute of Chartered Accountants of Nigeria • Institute of Chartered Accountants of Pakistan • Institute of Chartered Accountants of Scotland • Institute of Chartered Accountants of Sierra Leone • Institute of Chartered Accountants of Sri Lanka • Institute of Chartered Accountants of Trinidad and Tobago • Institute of Chartered Accountants of Zimbabwe • New Zealand Institute of Chartered Accountants South African Institute of Chartered Accountants The Institute of Cost and Management Accountants of Bangladesh (ICMAB): The Institute of Cost and Management Accountants of Bangladesh, an autonomous professional body under the Ministry of Commerce, Government of People’s Republic of Bangladesh is the only Institution in the country dedicated to Cost and Management Accounting education and research. Institute’s mission is to develop and promote Cost and Management Accounting profession by maintaining highest professional standards of its members in order to enable them to provide better services to the society.

The Institute spearheads the formulation and implementation of national cost accounting standards. Its goal is to help Bangladesh become an industrialized nation by promoting and regulating Cost and Management Accounting profession towards market economy to enhance economic competitiveness and quality of life. The Institute of Cost and Management Accountants of Bangladesh is the only national Institute imparting education and training, regulating and promoting the profession of Cost and Management Accounting in Bangladesh.

It was reconstituted under the Cost and Management Accountants Ordinance, 1977 (Ordinance No. LIII of 1977) and regulated by the Cost and Management Accountants Regulations, 1980 (as amended up-to date). The Institute of Cost and Management Accountants of Bangladesh (ICMAB) is a leading professional body in Bangladesh that offers professional qualification in Cost and Management Accountancy, with a focus on accounting for business. ICMAB programme has been designed to meet the evolving needs of business-today and tomorrow.

We look forward to helping you to achieve excellence as a professional. ICMAB is committed to maintain the highest standards while serving our students, members and our business partners. As a professional Institute, we are committed to continuous improvement and also to cope up with the changing environment as a result we are increasingly the first choice for students and employers. ICMAB upholds high ethical and professional standards to maintain public confidence in the field of Cost and Management Accountancy.

Today, more and more new, unique and innovative businesses are operating in the globalized market. This is facilitated by the advancement in information and communication technology. Cost and Management Accounting program will adequately prepare professional accountants for the new world of business. ICMAB, an autonomous professional body under the Ministry of Commerce, Government of the People’s Republic of Bangladesh is the only Institute in the country dedicated to Cost and Management Accounting education and research. Vision:

Institute’s vision is to help Bangladesh become an industrialized nation by promoting and regulating Cost and Management Accounting profession towards market economy to enhance economic competitiveness and quality of life. Mission: The Institute of Cost and Management Accountants of Bangladesh, an autonomous professional body under the Ministry of Commerce, is the only Institute dedicated to Cost and Management Accounting education and research in the country. The Institute’s mission is to develop, equip and promote Cost and Management

Accounting profession by maintaining highest professional standard of its members in order to enable them to provide better services to the society. The Institute is entrusted with the formulation and implementation of National Accounting as well as Cost Accounting Standards and take other necessary steps with a view to regulating the Cost and Management Accounting profession commensurate with global standard with the ultimate objective of developing Bangladesh’s human and natural resources to ensure common welfare and to enrich our shared future. Objectives: The major objectives of the Institute are to: Regulate and develop the Cost and Management Accounting (CMA) profession in Bangladesh; • Provide and confer the highest professional degree in Cost and Management Accounting; • Impart education and training to the members, corporate managers and intending students of CMA for enhancing their capability in the fields of Cost and Management Accounting; • Develop knowledge, skills and competence of the CMAs needed to support economic development of the country and, thus, to prepare capable manpower needed for various national and international development activities according to the requirements of the millennium; • Help development, adoption and implementation of    International Financial Reporting Standards (IFRS) in Bangladesh; • Formulate, adopt and implement Cost Accounting and Auditing Standards (CAAS) in Bangladesh and international; • Implement statutory Cost Audit as provided in the Companies Act, 1994 ; and • Conduct research in the field of Cost and Management Accounting in order to promote and develop the profession to meet the requirement of the time. |Services of CMAs | |Equipped with various methods and techniques, the Cost & Management Accountants can provide the following services | |Collecting, collating, screening, interpreting and condensing data relating to techno-human business activities, to enable Non-Financial | |Executives to arrive at the right decision or to select the right courses of action at the right time. | |Costing of products and services. |Designing and implementing effective management information and control systems. | |Planning and control of business operation through costing systems and various techniques. | |Inventory control incorporating mathematical models. | |Cost reduction in connection with modern management tools like Operation Research, Value Engineering, etc. | |Investment analysis and preparation of Feasibility/Project reports; its appraisal and evaluation. | |Information management. | |Project management-planning control and accounting. | |Cost Audit of business transactions. | |Performance Evaluation. | |Assistance in appropriate legal matters. | |Diagnosis of industrial sickness and remedial measures. |Planning and monitoring of industrial action. | |Financial analysis and projection for New and B. M. R. E. Projects. | |Loan application and negotiation. | |Valuation of shares and properties. | |Pricing. | |Working capital management. | | | |Major disciplines in the profession | |There are two accounting professional bodies in Bangladesh which are The Institute of Cost and Management Accountants of Bangladesh (ICMAB) | |and The Institute of Chartered Accountants of Bangladesh (ICAB). If one thinks of Accounting a pectrum of services, with public accounting,| |audit and tax on one end, accounting in industry and government on the other, the difference between CMA and CA can be easily identified. | |The CA programme specializes in financial accounting, financial audit and tax and the students complete their training in practicing firms. | |CMAs in addition to being trained in all facets of general accounting and taxation, receive special training in cost audit, management audit| |and management accounting. Both the ICMAB and ICAB are under the administrative control of the Ministry of Commerce. The Govt. of Bangladesh| |considers both type of  professional accountants equal in respect of employment in govt. services as per circular No.

Com/PTMA/AP/2/19/87 | |Branches | |ICMA Bhaban | |Nilkhet, Dhaka-1205, Bangladesh | |Tel: 8619649, 8611482, 8613443, Fax: 88-02-8615703 | |E-mail: [pic][email protected] net[pic]This e-mail address is being protected from spam bots, you | |need JavaScript enabled to view it [pic], [pic][email protected] net[pic]This e-mail address is | |being protected from spam bots, you need JavaScript enabled to view it [pic], | |Website: www. icmab. org. d | | | |Branch Offices | |Chittagong | |Mr. Md. Shahadat Hossain | |Asstt. Director | |The  Institute of Cost and Management Accountants of Bangladesh | |CMA Bhaban | |House No. 43, Road No. 7 | |CDA Residential Area | |Agrabad, Chittagong | |Tel. : 031-727638 | |Cell # 01712-183535 | |Fax: 031-2529738 | |E-mail: | | | |Rajshahi | |Prof.

Madan Mohan Dey | |Officer-in-Charge, ICMAB & | |Professor | |Department of Accounting & Information Management | |University of Rajshahi | |Rajshahi | |Tel. : 0721-751332, 0721-750041-49/ 4135 | |Res. : 0721-771915 | |Mob. 01552-364335 | | | |Khulna | |Prof. Protap Chandra Biswas | |Officer-in-Charge, ICMAB & | |Principal-in-charge | |Azam Khan Govt. Commerce College | |Khulna | |Tel. : 041-722882, 041-722335 | |E-mail : [pic][email protected] net. d[pic]This e-mail address is being protected from spam bots, you | |need JavaScript enabled to view it [pic] | | | |Comilla | |Prof. Dr. Md. Abdul Matin | |Principal (Current Charge) | |Comilla Victoria Govt. College, Comilla | |Tel. : 081-68463/104 | |Mob. : 01711586625 | |International Affiliation: | International Federation of Accountants (IFAC) | | | |[pic] | | | |ICMAB is a founder member of IFAC . The International Federation of Accountants (IFAC) is the worldwide organization for the accountancy | |profession. Its mission is the worldwide development and enhancement of the profession, with harmonized standards, to enable it to provide | |services of consistently high quality in the public interest. International Auditing and Assurance Standards Board (IAASB) of IFAC pronounce| |the International Standards on Auditing (ISA). | | |International Accounting Standards Committee (IASC) | | | |[pic] | |IASC is an independent private sector body, with the objective of achieving uniformity in the accounting principles which are used by | |business and other organizations for financial reporting around the world. International Accounting Standards Board (IASB) of IASC | |pronounces the International Financial Reporting Standards (IFRS). | | | |Confederation of Asian and Pacific Accountants (CAPA) | | | |[pic] | |CAPA represents national accountancy organization in the Asia-Pacific region. Today, CAPA has membership of 30 national accountancy | |organizations in 21 countries. | | |South Asian Federation of Accountants (SAFA) | | | |[pic] | |SAFA , a non-political organization of autonomous institutes of accounting bodies of SAARC countries, like other International Accounting | |Bodies, aims to initiate, co-ordinate and guide in achieving technical, ethical and educational guidelines for the profession to work | |towards international recognition of the qualifications offered by the accountancy bodies of the region. | | |Through energetic participation in the activities of these bodies, the ICMAB is playing its due role in the development of management | |accounting globally. | Admission Policy: Graduate Students: has passed bachelor degree from any recognized university having at least 6 (six) points on the basis of passed academic results as per calculation. 5. 00 Registration 5. 1    Entry Test 5. 1. 1 Registration/Admission Requirement Admission Policy : (1)     Graduate Students : has passed bachelor degree from any recognized university having at least 6 (six) points on the basis of past academic results as per calculation shown below : Name of Examination Division/Class st                 2nd                3rd SSC/SSC Equivalent *                                                 3                   2                    1 HSC/HSC Equivalent *                                                3                   2                    1 Bachelor Degree B. B. A (Hons. Pass or equivalent)                               3                   2                    1 Master Degree/MBA *                                                 3                   2                    1 * Points for SSC/HSC Equivalent will be as follows: 1)  C. G. P. A. 3. 5 to 5                                                   = 3 points 2)  C. G. P. A. 2. 5 to below 3.                                      = 2 points 3)  C. G. P. A. below 2. 5                                               = 1 point * Points for BBA/MBA will be as follows: 1)   C. G. P. A. 3 to 4                                                     = 3 points 2)   C. G. P. A. 2 to below 3                                          = 2 points 3)   C. G. P. A. Below 2                                                 = 1 point 5. 1. 2    A candidate seeking registration as a student of the Institute shall be required to qualify an entry test designed to assess the general intelligence, knowledge of English and Arithmetic skills of the candidate. 5. 1. 3    Entry Test Rules

The basic qualification required for appearing in the Entry Test is graduate (B. Com. , B. Sc. , B. A. ). In case a candidate has appeared in the Final Examination of B. Com. , B. Sc. , or B. A. pass and honors course and is waiting for the declaration of results, he/she will be allowed to take the Entry Test. In case the candidate passes the Entry Test, registration will be granted only when he/she clears the degree examination. In case the candidate fails in the degree examination, his or her candidature shall be cancelled and he or she will not be allowed registration as a student of the Institute. The candidates having B. Com. (Honors), M. Com. rom any Department, 4 year BBA with second division/class or CGPA at least 3. 00, Graduation (pass) degree with 1st division, MBA, C. A. , or Ph. D. degree will be exempted from Entry Test. Students may also get themselves enrolled in the Correspondence Course provided they have at least 6 points calculated on the basis as stated in para 6. 1. 1. Candidates seeking admission into CMA course will have to collect prescribed admission Application Form available at all centres by paying prescribed fee and to be submitted together with necessary certificates and photograph duly attested by gazetted officer. The Entry Test shall be held on the dates announced by the Institute.

The candidates shall be required to prepare themselves for the Entry Test on their own. The candidates who do not qualify the Entry Test will be allowed to appear at the next Entry Test on payment of the prescribed Entry Test fee. The successful result of any Entry Test will be valid only for admission in the same session of the Institute. 5. 2       Admission 5. 2. 1    Admission  Procedure Admission to the Foundation Course can be taken after passing the Entry Test for any session i. e. , January-June or July-December. Forms for Registration, Enrollment and Exemption are available at all centres. Candidates are advised to obtain the required forms.

While filling in these forms candidates must make sure that all the information required has been provided. Cross (X) the items which are not applicable. In the enrollment form, specifically state whether you want to be enrolled for the Coaching Course or the Correspondence Course (in case of coaching, state whether for Day or Evening programme). The students from overseas can take admission in the Foundation Course, without passing Entry Test. They are required to enroll themselves in Correspondence Course and complete 100% assignments of each subject of Foundation Course in order to become eligible to appear in the Examination. Students should fill in the Exemption Form in case they want to apply for exemption.

Students of Professional Courses who are interested to enroll themselves in both correspondence and coaching course for different levels are advised to fill in two different forms, one for correspondence and the other for Coaching Course. 5. 2. 2    Documents to be attached Photostat copies of educational certificates and mark sheets from secondary school to graduation and post-graduation. 2 (two) passport and 2 (two) stamp size latest photographs. Copies of detailed grades sheet of required examination and the syllabus of the respective subject in case exemption is sought. Students are required to produce the original documents to the office of the Institute for attestation of copies thereof.

There is Correspondence Course facilities only in Dhaka. The students from the towns other than Dhaka should send to Head Office (Dhaka) the prescribed forms along with copies of documents duly attested by gazetted officer. The overseas students should send the copies of required documents attested by the Bangladesh Embassy. In addition to above they should provide copies of passport and Visa. Identity cards are issued to every student on his enrollment for which he must submit two stamp size photograph and pay requisite fee to the Institute. The card must be carried by the student at all time and shown daily at the time of the examination or whenever required.

The students will take up enrollment under the syllabus in Foundation Level which is of six months duration. But the student getting exemption in some subjects or all subjects of Foundation Course will be allowed to take admission simultaneously into Foundation Course and Professional Level-I. Students are also allowed to take admission in two levels at a time but to avail of this opportunity he must go in sequence i. e. , he will not be allowed to take admission in Professional Level-II without passing all subjects of Foundation Level in full and so on. 5. 2. 3    Your Inquires For all educational matters relating to Coaching or Correspondence Course, contact nearest Branches or Coaching Centres or Education Department, ICMAB, Dhaka.

For Exemption and Examination matters, write to Head of Department, Education and Examination, ICMAB Dhaka respectively. Note Always quote your registration number and class roll number/correspondence course number with your full address whenever you write to the Institute, otherwise it may cause delay in replying to your queries. Make sure that you have received the Institute’s Identity Card and Correspondence Course materials, if you are a Correspondence Course student. Students not receiving the above listed items within 15 days of their registration/enrollment are advised to contact the Education Department, ICMAB Head Office, Dhaka. Fees and Charges: Payment of Fees:

A student seeking registration with the Institute is to pay Registration fee, Admission fee, Tuition fee, Annual subscription, Library Card fee, Identity Card fee, etc. as determined by the authority from time to time. Annual subscription fee is payable on July 1, and January 1, each year. Half of the amount of the Annual subscription fee may be paid for the first year by a student at the time of admission on or after first January and before 30th June any year. Tuition fee paid on enrolment for subject(s) will not be refunded to any student in case he discontinues his studies and it will be lapsed to the Institute. In case he joins coaching classes during next or subsequent years, he will be required to pay full tuition fees and his previous payments on account of fees will not be adjusted.

Those students who have already completed 75% lecture attendance in certain subjects during previous year and if they intend to re-enroll under the same subjects to up-date their studies through coaching classes in the current year, they will be charged 50% fees prescribed for these subjects. Those students who enrolled during previous years under coaching classes but could not complete their attendance and did not pay 100% coaching dues during the year of enrolment and left classes un-attended, they will be required to pay full tuition fees for the current year in one installment only in case they re-enroll under the same courses. Student may study a particular subject by both the coaching and the correspondence course methods at the same time.

A remission of one half of tuition fees may be made in those cases. No refund will be made to students who discontinue their studies. |Admission Fee |5500. 00 | |Registration Fee |3000. 00 | |Coaching/Corespondence Course |3,200. 00 | |Registration Form |200. 0 | |Annual Subscription |500. 00 | |Library Card Fee |200. 00 | |Career Guide Fee |100. 00 | |Student Welfare Fund |100. 00 | |Identity Card Fee |200. 00 | |Testimonial Fee |100. 00 | |DENOVO.

Registration Fee |6000. 00 | |Code |Name of Subjects |Subject Code |Coaching Course Fees |Correspondence Course Fees | |  |Foundation Level |  |Taka |Taka | |  |Admission Fees |  |5,500. 00 |5,500. 00 | |  |Registration Fees |  |3,000. 00 |3,000. 0 | |  |Coaching/Correspondence Course Fees |  |3,2000. 00 |3,2000. 00 | |  |Annual Subscription |  |500. 00 |500. 00 | |  |Registration Form |  |200. 00 |200. 00 | |  |Library Card Fess |  |200. 00 |200. 00 | |  |Student Welfare Fund |  |100. 00 |100. 0 | |  |Career Guide | |100. 00 |100. 00 | |  |Identity Card Fees |  |200. 00 |200. 00 | |001 |Principles of Accounting |PAC |800. 00 |800. 00 | |002 |Business Communication and Office Management |BCOM |800. 00 |800. 00 | |003 |Quantitative Techniques (BMS) |QT |800. 00 |800. 0 | |004 |Business Economics and International Business |BEIB |800. 00 |800. 00 | |  | Total |  |13000. 00 |13000. 00 | |  |Professional Level-I |  |  |  | |101 |Intermediate Financial Accounting |IFA |800. 00 |1050. 00 | |102 |Cost Accounting |COA |800. 00 |1050. 0 | |103 |Management and Marketing Management |MMM |800. 00 |1050. 00 | |104 |Information Technology |IT a) Coaching |800. 00 |1050. 00 | | | |b)Practical |3300. 00 |3300. 00 | |b)P. C. F |100. 00 |100. 00 | | | |  |Total |  |6600. 00 |7600. 0 | |  |Professional Level-II |  |  |  | |201 |Advanced Financial Accounting-I |AFA-I |1125. 00 |1325. 00 | |202 |Management Accounting |MAC |1125. 00 |1325. 00 | |203 |Commercial & Industrial Laws |CIL |1125. 00 |13250. 00 | |204 |Taxation |TAX |1125. 00 |1325. 00 | |  |Total |  |4500. 00 |4500. 0 | |  |Professional Level-III |  |  |  | |301 |Advanced Financial Accounting-II |AFA-II |1200. 00 |1500. 00 | |302 |Advanced Cost Accounting |ACA |1200. 00 |1500. 00 | |303 |Corporate Laws & Secretarial Practice |CLSP |1200. 00 |1500. 00 | |304 |Auditing |AUD |1200. 00 |1500. 00 | |  |Total |  |4800. 00 |6000. 0 | |  |Professional Level-IV |  |  |  | |401 |Financial Management |FIM |2700. 00 |3025. 00 | |402 |Strategic Management Accounting |SMA |2700. 00 |3025. 00 | |403 |Strategic Management and Organizational Behavior |SMOB |2700. 00 |3025. 00 | |404 |Cost and Management Auditing |CMA |2700. 00 |3025. 0 | |  |Total |  |10,800. 00 |12,100. 00 | |  |Internship |  |3000. 00 |3000. 00 | |Examination Fees | |Levels |Fees Per Subject |Total Subject |Total Fees | |Foundation Level |200. 00 |4 |800. 00 | |Professional Level-I |200. 0 |4 |800. 00 | |Professional Level-II |200. 00 |4 |800. 00 | |Professional Level-III |265. 00 |4 |1060. 00 | |Professional Level-IV |265. 00 |4 |1060. 00 | | | | | | Courses: |Courses For 2. Years’ CMA | |ICMAB Syllabus Structure (Effective from 2009) | | | |  | |  | |Foundation Level and Professional Levels | |  | | | | | |Code No. |Level/Subjects | |Marks | | | | | |  | |Foundation Level | |  | | | | | |001 |Principles of Accounting | |100 | | | | | |002 | |Business Communication and Office Management: | |100 | | | | | |  | |a. | |Communication-50 | | | |b. |Office Management -50 | | | | | |  | | | | | |003 | |Quantitative Techniques: | |100 | | | | | |  | |a. | |Business Mathematics-50 | | | |b. |Statistics-50 | | | | | |  | | | | | |004 | |Business Economics And International Business | |100 | | | | | |  | |a. | |Business Economics-50 | | | |b. |International Business-50 | | | | | |  | | | | | |  | |Professional Level-I | |  | | | | | |101 | |Intermediate Financial Accounting | |100 | | | | | |102 |Cost Accounting | |100 | | | | | |103 | |Management And Marketing Management: | |100 | | | | | |  | |a. | |Management-50 | | | |b. |Marketing Management-50 | | | | | |  | | | | | |104 | |Information Technology | |100 | | | | | |  | |Professional Level-II | |  | | | | | |201 |Advanced Financial Accounting-I | |100 | | | | | |202 | |Management Accounting | |100 | | | | | |203 | |Commercial & Industrial Laws: | |100 | | | | | |  | |a. | |Commercial Law-50 | | | |b. |Industrial Law-50 | | | | | |  | | | | | |204 | |Taxation | |100 | | | | | |  | |Professional Level-III | | | | | | |301 | |Advanced Financial Accounting-II | |100 | | | | | |302 | |Advanced Cost Accounting | |100 | | | | | |303 | |Corporate Laws, Governance & Secretarial Practice: | |100 | | | | | |  | |a. | |Corporate Laws-50 | | | |b. |Corporate Governance & Secretarial Practice-50 | | | | | |  | | | | | |304 | |Auditing | |100 | | | | |  | |Professional Level-IV | |  | | | | | |401 | |Financial Management | |100 | | | | | |402 | |Strategic Management Accounting | |100 | | | | | |403 | |Strategic Management and Organizational Behavior | |100 | | | | | |404 | |Cost and Management Auditing: | |  | | | | | |  | |a. | |Cost Audit-50 | | | |b. | |Management Audit-50 | | | | |100 | | | | | |  | | Internship(After completing Pofessional Level III) | | | |100 | | | | | |  | |  | |  | | | | | |  | |Course of Studies and Methodology | |  | | | | | |  | |Registration | |  | | | | | |  | | Study Programme | |  | | | | | |  | | Examination Guidelines |  | | | The Institute of Chartered Accountants of Bangladesh (ICAB): The Institute of Chartered Accountants of Bangladesh (ICAB) is the National Professional Accounting Body of Bangladesh established under the Bangladesh Chartered Accountants Order 1973 (Presidential Order No. 2 of 1973). ICAB’s Administrative Ministry The Ministry of Commerce, Government of the People’s Republic of Bangladesh is the administrative Ministry of ICAB. ICAB’s Vision To meet the ever-changing global economic demands dominated by WTO regime, the ICAB is fast becoming a body of professionals whose expert services will be highly sought after-     To anticipate, meet and exceed the rising expectations of the society –    To better use of opportunities to face the challenges of fiercer global competition –    To recognize the changes in economy/ business and recognize the path to success by      adopting changes in knowledge management and acquiring skills –    To recognize its role as a regulatory body to equip its members (Chartered      Accountants) with top-quality education and values –   To recognize the needs known as world Class Advisors. In order to materialize the above vision, ICAB will- –    Generate Chartered Accountants of high competence through rigorous but useful      education and training, who will be able to meet the challenges of the new      millennium    Uphold professional integrity and honesty of its members –    Advise government on taxation, business law and related matters –    Maintain superiority in respect of professional competence –    Meet the growing demand for qualified Chartered Accountants in Bangladesh –    Create the environment of mutual cooperation –    Carry out continuous research and make in-depth study of related subjects and apply      findings of research and study in the fields of accountancy profession ICAB’s Mission Statement The mission of ICAB is to provide leadership in the development, enhancement and coordination of the Accountancy Profession in Bangladesh in order to enable the profession to provide services of consistently high quality in the public interest. ICAB’s Aims and Objectives To achieve the above mission, ICAB will pursue the following objectives: 1.

Regulate the Accountancy Profession and matters connected therewith in the country 2. Administer its members and students 3. Ensure sound professional ethics and code of conduct by its members 4. Provide specialized training and professional expertise in Accounting, Auditing, Taxation, Corporate Laws, Management Consultancy, Information Technology and related subjects 5. Impart Continuing Professional Education (CPE) to its members 6. Foster acceptance and observance of International Accounting Standards (IAS) and International Standards on Auditing (ISA) and adopt the same as Bangladesh Accounting Standards (BAS) and Bangladesh Standards on Auditing (BSA) respectively. 7.

Keep abreast of latest developments in Accounting techniques, Audit methodology, Information technology, Management consultancy and related fields 8. Liaise with international and regional organizations to influence the development of efficient capital markets and international trade in services. ICAB’s Management The Council of ICAB is the Supreme Authority responsible for the administration and management of the Institute. The Council is composed of 20 (twenty) members elected by the members of the Institute from its two regional constituencies in Bangladesh every three years. The Council is headed by an elected President who is the Chief Executive of the Institute.

The President and the Vice-Presidents of the Institute are elected by the Council every year to manage the affairs of the Institute. The Council is assisted by various Standing and Other (non-standing) Committees. For the purpose of assisting the Council in matters concerning its functions, the Council is empowered to constitute Regional Committees. At the moment there are two Regional Committees in Dhaka and Chittagong and two Chapters – UK Chapter and North American Chapter. The day to day running of the Institute is delegated to the Secretariat, headed by the Secretary. The Secretariat is located at Chartered Accountant Bhaban, 100 Kazi Nazrul Islam Avenue, Kawran Bazar, Dhaka-1215, Bangladesh. Membership

As on 01 July 2009, the Institute had 969 members (including 26 females) of whom 824 were resident in Bangladesh and 145 were resident abroad. Associate and Fellow memberships are offered by the Institute. Persons passing the qualifying Final Examination of the Institute are offered Associateship (ACA) while fellowship (FCA) is offered to members having at least five years post-associateship experience and fulfilling relevant other requirements. Out of 969 members, 305 are practicing as public accountants and the rest 664 are serving in various key positions in public and private organizations-both at home and abroad. As on the same date, there were 2719 articled students (including 115 females). Affiliation

The Institute is an active member of various International and Regional accounting bodies like: –      The International Federation of Accountants (IFAC) –      The International Accounting Standards Board (IASB) –      The Confederation of Asian and Pacific Accountants (CAPA) –      The South Asian Federation of Accountants (SAFA) FUNCTIONS OF CHARTERED ACCOUNTANTS ENGAGED IN PUBLIC PRACTICES: Chartered Accountants engaged in public practice mainly carry out the following functions: –    Perform professional services involving auditing or verification of financial      transactions, books, accounts or records, or preparation, verification or certification      of financial, accounting and related statements;     Render professional services or assistance in or about matters of principles or details      relating to accounting procedures, costing techniques, or recording, presentation or      certification of financial facts or data; –    Render professional services or assistance as Management Consultant in or about      matters of accounting methods, systems and techniques involving forecasting, in      order to assist management in its task of formulating polices, programmes,      management systems and procedures for maintaining and improving efficiency. FUNCTIONS OF CHARTERED ACCOUNTANTS EMPLOYED IN TRADE, COMMERCE, INDUSTRY, FINANCE, ETC. : After qualifying, a Chartered Accountant may not necessarily go for public practice either on his/her own or in partnership with other Chartered Accountant(s) but may go for employment in trade, commerce, industry, finance, etc.

Many positions of trust and responsibility are open to a Chartered Accountant such as Chief Executive, Member Finance, Finance Director, Company Secretary, Chief Accountant, Finance Controller, Systems Analyst, Internal Auditor, Cost Accountant, etc. in Listed Companies/ Autonomous bodies or in industrial, financial, commercial or educational enterprises. A Chartered Accountant can also serve on the Board of Directors of various organizations, particularly financial institutions. Such positions of responsibility, trust, honour and dignity are offered to Chartered Accountants because of their excellent educational & training background, professional know-how & technical expertise and sound financial knowledge & experience , thus enabling them to contribute towards solving accounting, financial, educational and business problems at top levels. ICAB’s PUBLICATIONS:     Members Hand-book on Bangladesh Chartered Accountants Order 1973 &      The Institute of Chartered Accountants of Bangladesh Bye-laws 2004 and      Council Directives/Decisions –    Annual Council Report and Annual Audited Financial Statements as at 30th June      every year –    Annual List of Members & CA Firms as of 1st July every year –    The Bangladesh Accountant (Quarterly Journal) –    News-Bulletin (Monthly News Letter) –    Students’ Guide (Information booklet) –    Fees Schedule (Effective from 01 July 2004) –    Students Study Manuals on various subjects –    Students Suggested Answers Booklets on past exam. Questions on various subject –    Bangladesh Accounting Standards (BASs) and Bangladesh Financial Reporting      Standards (BFRSs) Volume -I (BAS 1 – BAS 25)     Bangladesh Accounting Standards (BASs) and Bangladesh Financial Reporting      Standards (BFRSs) Volume -II (BAS 26 – BAS 41 and BFRS 2 – BFRS 6) –    BSQC1 & Quality Assurance Requirements –    Audit Practice Manual –    Manuals and Technical guides on various professional and technical subjects REGIONAL OFFICE ADDRESSES: (a)          Chairman/ Hony. Secretary Dhaka Regional Committee-ICAB Chartered Accountant Bhaban 100 Kazi Nazrul Islam Avenue Dhaka-1215 Tel: +880-2-9115340, 9117521, 9137847, 9129057, 9112672 Fax: +880-2-8119399 E-mail: [email protected] org. bd Web: www. icab. org. bd (b)      Chairman/Hony. Secretary Chittagong Regional Committee-ICAB HBFC Building 1/D Agrabad Com. Area Chittagong Tel: +880-31-724674 Fax: 880-31-813579 E-mail : [email protected] com b)  Chairman ICAB UK Chapter Management Committee 782 Garrat Lane, London SW17 0LZ, UK Tel: +44 207 3728 777 begin_of_the_skype_highlighting              +44 207 3728 777      end_of_the_skype_highlighting Fax:+44 208 6790 721 E-mail: [email protected] co. uk (d). Chairman ICAB North American Chapter 3205 Respond Road Mississauga, L5M 7X5 Ontario, Canada Tel: (905) 828 1581 Fax: (416) 944 5828 E-mail: shahed. [email protected] com, shahed. [email protected] com Overseas Chapter: |UK Chapter Management Committee | |Office Bearers for the year: 2008 | | Mr.

Hossain Ahmed, FCA | Chairman | | Email: [email protected] co. uk | | | Mr. Mohammad Mujibar Rahman FCA | Secretary | | Email: [email protected] co. uk | | | Mr. AKM Fazlur Rahman, FCA | Member | | Email: [email protected] com | | | Mr. AHM Shaukat Husain FCA | Member | | Email: [email protected] com | | | Mr.

Mamoon Rahman FCA | Member | | Email: | | |Address: | |13 Briar Avenue, London SW16 3AB, UK | |Tel: +44 207 3728777 | |Cell: +44 7714284659, +44 7714284659 | |Fax: +44 208 6790721 | |E-mail: [email protected] co. uk | |North American Chapter Management Committee | |Office Bearers for the year: 2007 | | Mr. Shahed Hasan Sharfuddin FCA | Chairman | | Email: shahed. [email protected] com | | | Mr. Bidhan Chandra Saha FCA | Secretary | | Email: bidhan. [email protected] om | | | Mr. Md. Moshiur Rahman FCA | Member | | Email: | | | Mr. Syed Dilawar Ahmed Bakht FCA | Member | | Email: | | | Mr. Khandakar Iqbal Hossain FCA | Member | | Email: | | | | | Articleship of CA:

Since an academic degree holder has no practical training on professional accounting so an academic degree holder in any discipline and even on accountancy cannot perform the above jobs professionally. Due to the difference of qualification between a Chartered Accountant and an academic degree holder, the Chartered Accountant has vast scope in the field of employment and engagement. A Chartered Accountant can practice, but a normal degree holder even in accountancy cannot practice as a practicing accountant. A Chartered Accountant can be self employed as he is a professional accountant and can create job opportunities for others. Who can become an Articled Student

Students having the requisite qualifications (as declared by the Council of ICAB time to time) are eligible for Articleship. Period of Articleship (a). Candidatessecuring A+ (CGPA 5. 00) in both SSC and HSC Examinations held under anyrecognized Education Board of the Country orMinimum Grade 2As and 3Bs(total 5 subjects) in ‘O’ Level Examinations from University of London orequivalent bodies/ Institute; andMinimum Grade 2B or 3Cs in‘A’ Level Examination from University of London or equivalent bodies/Institutewill have a period of Articleship of 04(four)years. Provided that candidates securing minimum 3As in A level will have a period of Articleship of 3 ? years. b). Graduates or Post-graduates in any discipline having minimum 07 points with no third division or equivalent from any recognized Boards/Public Universities/National University and Private Universities/Institutions of Bangladesh (as approved by ICAB) will have a period of Articleship of 3 (three) years. (c ). Qualified Members of ICMAB either ACMA or FCMA and ACCA or FCCA (with no consideration for Divisions/Classes/CGPA) will be exempted from Professional Examination-I. Period of Articleship for these candidates will be 02(two) years. How can be a Chartered Accountancy Student A Chartered Accountant is a professionally qualified accountant.

Before qualification a person seeking Chartered Accountancy course has to take articleship with a Chartered Accountancy Firm and undergo extensive training on the profession of accountancy having been attached with a principal who is member of the ICAB and is permitted to train articled students. The articled student will be registered with the ICAB as a Chartered Accountancy student. When a student can qualify in all the professional examinations within the articleship period or after the articleship period an articled student becomes a qualified Chartered Accountant. Registration Fees for Articleship Registration fees for Articleship is Taka 25,000/- with following breakup with effect from 01 April 2010: |Sl.

No. |Particulars of Fees |Amount | | | |(Taka) | |1. |Pre-Examination Coaching Class (for 01 session of/ Professional Stage-Knowledge |12,000 | | |Level only)        | | |2. |Cost of Study Manual (PS – Knowledge Level) |3,000 | |3. |Cost of Suggested Answer (PS – Knowledge Level) |1600 | |4. Students’ Association Fee |400 | |5. |Registration Fee & Administrative Cost |8,000 | |Total = |25,000 | | | | How to become a Member? Those who have completed the prescribed training of Articlship and have passed all prescribed Professional Examinations of the Institute will be eligible for Associate Membership of the Institute.

After qualify Professional Examination Level-III, interested persons can apply the Institute for Associate Membership in a prescribed form “Form-ICAB-01” along with the following documents/papers: 1. Photocopy of (a). nationality certificate (b). SSC/equivalent Certficate or Birth Certficate for proof of age     (c). relevant educational & professional certificates (d). Course completion certificate from the Principal; 2.. Two recent passport size colour photographs 3. Bank Draft/Pay Order of Tk. 18,500. 00 (Tk. 15,000/- as Admission Fee and Tk. 3,500/- for Annual Subscription Fees) After receiving the application for membership, it will place in the concerned Committee meeting for consideration. After the approval of the meeting, applied person will be informed..



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