Dear Professional Colleagues,

I hope this message finds you and your families safe and in good health amidst these uncertain circumstances.

There are certain things a Professional imbibes in his daily life: the value of time, the success of perseverance, the pleasure of working, the dignity of simplicity, the worth of character, the influence of example, the virtue of patience, the improvement of talent, the joy of originating and the power of kindness. While at the same time, the pandemic continues to take an unprecedented toll on the citizenry in various forms, and professionals and students such as ourselves are at a higher risk of suffering from mental fatigue and burnout, having to deal with the realities of the pandemic. So, while we’re expected and keen to do so much, it is also important for us to allow ourselves to take a step back and pace ourselves.

A brief about May 2021 programs so far

As a part of our continued commitment of Partner in Nation Building, it is my pleasure to inform to you all that the Bengaluru Branch had conducted a four-day training program for Accounting personnel of Urban Local Bodies from 4^th to 7^th May, which saw participation from more than 250 ULB personnel across Karnataka. The program was conducted under the aegis of the Public and Government Financial Management Committee of the ICAI. The valedictory session held on the 7^th was graced by Chief Guest MTB Nagaraj, Hon’ble Minister of Municipal Administration and Sugar, Government of Karnataka. The event was also graced by the presence of ICAI President CA Nihar N Jambusaria and dignitaries such as CA Dhiraj Khandelwal, CCM and Chairman of Public and Government Financial Management Committee of ICAI, and CA Dayaniwas Sharma., Joint Director Reforms of Municipal Reforms and Joint Director Finance of Municipal Administration. The program was a grand success and the feedback we received from the trainees was very impressive.

In addition, the Branch had organised a six-day GST training program for Commerce faculties of various institutions. The program was conducted in association with Government Ramnarayan Chellaram College of Commerce and Management, Bengaluru. More than 300 Professors and Lecturers from various institutions attended and benefitted from the sessions. The sessions were led by CA Madhukar Hiregange, CA Jatin Christopher, CA Venugopal Gella, CA Mahadev R, CA Akbar Basha, CA Roopa Nayak and CA Akshay Hiregange. The feedback we received from participants was superb and the program was a grand success. The valedictory session was attended by our very own SIRC Secretary CA Pannaraj S, and SIRC members CA Geetha AB and CA Pampanna B.E., in addition to the Principal and Professors of RC College.

For our members, apart from regular Wednesday study circle meetings, an 18-day, 72 hour workshop on “Re-visiting Income Tax Act. 1961” was a grand success. The program was commenced on 29^th April and is scheduled to end on 5^th June. With participation of more than 250 members across the country and with 40 professionals as speakers and panellists so far, the program is going strong. A 3-day comprehensive workshop on Audit of Co-operative Societies was conducted and more than 350 members attended and shared positive feedback.

A 4-day workshop on Wealth Management has been organised from 24^th May to 1^st June. Given that Wealth Management is a new and rising area of practice for our members, response to the workshop has been extremely good. The workshop was inaugurated by our SIRC Chairman CA Jalapathi K. and saw attendance from more than 400 members. A half-day seminar on Charitable Trusts and Institutions was organised on 7^th May and another half-day seminar on Professional Ethics and Indian AS was organised on 20^th May. A session on the New Networking Guidelines and Corporate Form of Practice was held on 15^th May and participants were addressed by CCM, CA Dayaniwas Sharma. A half day seminar on Business Consultancy and Advisory Services was organised on 18^th May.  A half day seminar on Recent Amendments in Schedule III and its interplay with revised CARO is scheduled on 28^th May.

Upcoming programs in the month of June and July 2021:

1.        A 4-day workshop on Standards of Auditing, scheduled from 1^st June to 4^th June 2021.
2. A 4-day workshop on Ind. AS scheduled from 6^th June to 9^th June 2021.
3. A 3-day workshop on Succession Planning is scheduled from 10^th June to 12^th June 2021. This has been planned keeping in mind the growing nature of opportunities in the field for our members as the practice envisions both Family and Business Succession.
4. A 6-day workshop on International Taxation is scheduled from 17^th to 26^th June 2021.
5. A workshop on Forensic Audit and Systems Audit is planned in the month of July 2021.
6. A workshop on Money Laundering & Benami Law is planned for the month of July 2021.

Students Activities:

Apart from the scheduled coaching classes, mock tests, ITT, and orientation sessions, Study Circle meetings on Tax Audit was conducted on 27^th May and on GST on 29^th May.

SICASA’s Speakers Forum celebrated it’s 150^th session on 16^th May 2021. CA M N Pai from Mangalore was the General Evaluator for the session. The Forum continues to be quite active and has sessions scheduled every Sunday. I do request all our members to inform your articles about the Forum and its activities, where students get a platform to interact with their peers and industry members and gain critical public speaking and leadership skills.

Keeping in mind the mental and emotional toll the pandemic is taking on all of us, a virtual meeting on “Covid Impact on Heart, Mind & Body” was organized on Sunday, 9^th May 2021 in collaboration with the Gurugram, Noida and Faridabad branches of ICAI. The meeting was led by Dr Bimal Chhajer, a leading Cardiologist, Heart Care and Lifestyle expert based out of Delhi. Also organized a session on Mental Health, Present and Post Covid on Sunday 30^th May 2021 led by Dr Naveen K Visweshwaraiah, Specialist in Yoga & Psychophysiology.

With the second wave of COVID-19 taking an unprecedented toll in Karnataka particularly in Bengaluru, the Branch along with Karnataka State Chartered Accountants Association formed a Covid Task Force and both the Institutions appealed to members for donations and collected more than INR 29 lakh and purchased 40 Oxygen Concentrators, 14 of which was donated to the MP’s Oxybank at Bengaluru South Constituency, 6 of which donated to Bharatiya Jain Sanghatana and the remaining 20 supplied to multiple districts across the State. On behalf of the Bengaluru Branch and the KSCAA, I wholeheartedly thank all those members who have generously donated to this noble cause.

The Branch is also currently in the process of organizing a vaccination camp exclusively for its members and their family. More details will be shared as and when made available to us.

Thank you, stay safe, and make sure you double mask!

CA B. T. Shetty

Chairman

Bengaluru Branch of SIRC of ICAI