Dear Members,

Athmiya Namaskara!

“Ethics is knowing the difference between what you have a right to do and what is right to do.” — Justice Potter Stewart

This quote captures the true essence of our profession far better than any elaborate definition could. While the law tells us what we have a right to do, our profession demands that we do what is right. It is this precise distinction between merely following the letter of the law and doing the right thing that gives professional ethics its meaning.

Global Ethics Day will be observed worldwide on 21st October 2026. The theme this year is "Re-centering Ethics." As Chartered Accountants, independence, objectivity, and ethical compliance are not just rules in a handbook, they are the bedrock of our identity. Trust is the only real capital our profession possesses. Let this day serve as a reminder that our ultimate allegiance is to truth and public trust.

The Revised Code of Ethics, published by the Institute of Chartered Accountants of India (ICAI), became effective from 1^st April 2026. Published in 3 volumes, this Code introduces significant changes designed to help our profession navigate changing boundaries and seize new opportunities without compromising our core values.

To ensure we are fully aligned, I urge all members to attend the Half-Day Seminar on the Revised Code of Ethics, scheduled for Wednesday, 28 October 2026 at the Branch premises. This Code is not merely a routine update; it is a critical regulatory guideline for profession’s future. Full details of the seminar and other events planned for the month can be found in the subsequent pages of this newsletter.

If October invites reflection, September has been all about work. The statutory audits are behind us. AGMs have been held and audit reports signed. I know what it took: long days, late nights, weekends at the office and family plans put on hold.

The work, however, continues. The CBDT has extended the due date for furnishing tax audit reports for AY 2026-27 from 30th September to 21st October 2026. The due date for filing returns in audit cases has moved from 31st October to 21st November 2026. Let us use this additional time wisely to complete the filings well in advance and avoid the last minute rush. Parallelly, we must keep a sharp eye on the upcoming company law returns and annual MCA compliances.

Beyond compliance, I would like to draw your attention to a subject very close to our city and our profession: Global Capability Centres.

India today hosts 2,117 GCCs operating through 3,728 units. They employ about 2.36 million professionals and generated revenues of USD 98.4 billion in FY26. More than 500 of the Forbes Global 2000 companies now run a GCC in India. Bengaluru leads this story, with about 29% of the country's GCC units and more than a third of its GCC talent.

What is changing is not just the number of these centres but their nature. GCCs are no longer back offices executing instructions from headquarters. Nearly half of them now operate at a high level of maturity and own global products, platforms and outcomes.

As Chartered Accountants, we are no longer just bookkeepers for these entities—we are the decision-makers, strategists, and custodians of cross-border governance, transfer pricing, international tax engineering, and ESG reporting. The global enterprise relies heavily on the financial intellect of Indian CAs to drive high-value strategic ownership. To fully understand this shifting paradigm, I highly encourage : practitioners, industry professionals, our women members and especially our young CAs. to attend the GCC Summit happening on Saturday, 24 October 2026 right here in Bangalore. For a professional aiming to lead from the front, understanding GCC mechanics is a strategic necessity.

The Branch is organizing an outreach programme  under the aegis of the Board of Studies (Academic) on 12^th October 2026,  to interact with and seek feedback from various stakeholders of the profession  such as members, academicians ,industry leaders on the CA Curriculum,  education and training. The course structure shapes the professionals who will join us tomorrow, so it matters to every one of us. I request your active participation and candid feedback.

As we celebrate Dasara, I extend my warmest wishes to you and your families.  May the festival bring you joy, good health and the strength to finish this season well.

On Vijayadashami, we exchange banni leaves as tokens of gold. Gold does not tarnish, and it is valued everywhere for being exactly what it claims to be. May our work, and our word, be the same.

ಬನ್ನಿ ತಗೊಂಡು ಬಂಗಾರದಂಗೆ ಇರೋಣ!

Yours in service,

CA Kavitha Paramesh
Chairperson 2026-27