It gives me immense pleasure to write to you this month. To begin with this is the last month wherein I write as the President of the Chartered Accountants Association, Ahmedabad. As I look back to the year in retrospect it brings content to my heart that I am able to do a certain bit, by serving the profession. As a torch bearer I have always keenly looked into newer areas and avenues to develop Practice. This year we had two Presidents of ICAI visit our office and both have shared immense respect for the Association. Their goals and views on the role of our profession are akin to that of our Association. Information Technology has undergone a lot of change and is gone impact our profession in a big way. Faceless Assessment, Filling of Returns, Reports, and Financial Statements have all now need to be submitted online. This digital transformation has become a necessity now. We need to enhance our ability to work in this new digital environment. Necessary steps need to be taken to ensure that our traditional practice breaches the gap between the physical and digital need without losing its aim.
The need now is to look beyond the traditional way of looking at Balance Sheet and just be profit/ surplus oriented. The areas of Sustainability reporting and focus on such non numeric yet important factors need also to be considered while framing of our Audit reports. The outlook through which we derived numbers to make financial decisions is going to change manifold. Digital Currency is something which will also take shape and is going to be a new challenge for the profession. The way it will be taxed is something which we are going to learn in the years to come. I am sure that the profession as dynamic as our and the credentials that our members have will make it easy to adopt to such changes but the effort needs to be put in this direction. In the last year we have tried to touch base on these issues and tried to bring the flavour on the table of the members through our study circle meetings and journals.
As I conclude I thank all the members for ensuing me with the Responsibility of leading the Association and serving the profession in the best possible manner. I thank all the members of the Executive Committee without whom this year would not have been so easy to conclude. I thank all the Sub Committee Chairmen who have worked hard and in their personal capacity helped in carrying out the activities of the Association. I thank all the Office Staff for fully supporting me and my team in this tenure of ours. I reassure you that we have tried to put our best foot forward, however, if there has been any mistake or someone has been knowingly or unknowingly hurt by our deeds I regret and apologies.
I am sure the incoming Presidents will try and bring the much needed glory to the Association and that the Lighted lamp of our Association would always shine and brighten with days to go.
CA Monish S Shah
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