While on the economic front there may not be much, in so far as policy changes are concerned, the summer seems to have set in much earlier than normally expected, with increase in temperatures being three to four degrees celsius above normal. Hopefully, this may have positive impact on monsoon, thereby controlling food prices, which have remained painfully high for quite some time now.

The activities at the Region and Institute have begun at a hectic pace after the new term began. The Accounting Standards Board has already come out with as many as eight exposure drafts within a span of one and half months. All the exposure drafts have been hosted on the Institute's website for inviting comments from members. We at WIRC have also formed a study group to offer comments and suggestions on these exposure drafts. I also request members to study these drafts in detail and also offer their comments and suggestions before they become fullfledged standards.

Along with the season for mangoes the month of bank audits has also begun in full swing across the country. Various seminars were organised across the region and the same were well received. However, one fact that emerges from the allotment of bank audits is that due to reorganisation of businesses by the banks, the number of branches undergoing audit do not match with number of firms eligible for audit. This coupled with the fact that more and more banks may opt for appointing auditors independently, the gap may widen further in future.

We have organised various programmes for the benefit of members on variety of subjects. As mentioned in the previous Newsletter, the focus on education and CPE programmes will continue to be largely on Intensive Courses. The much sought after annual event DTRC is also announced in this Newsletter. I earnestly request members to take advantage of all programmes in right earnest, not only to complete the CPE requirement but also to utilise the somewhat lean period to sharpen their professional edge.

In the last month I was privileged to visit Ahmedabad, Anand, Bharuch, Pune and Vadodara branches. These visits provided me an opportunity to interact with the managing committees and members of these branches. The enthusiasm exhibited by the members of the branches and the ideas that were shared in the purposeful meetings with the committees also provided valuable inputs that can be implemented elsewhere in the Region. While in Gandhinagar, we had a fruitful discussion with the Minister of Finance, Gujarat, Shri Vajubhai Vala on matters concerning our profession and how we can contribute in various aspects of state administration. The interaction has given us good food for thought to take things forward.

One very important event that took place recently is the clearance of Right to Education Bill by the Union Cabinet. To quote Aristotle—

“All who have mediated on the art of governing mankind have been convinced that the fate of empires depends on the education of youth”.hall reap rich benefits from this legislation, unless of course this leads only to literacy and not education in its real sense of the word.

It is equally important for us to think about our own well being. The CA Benevolent Fund (CABF) provides great relief to our own brethren and their families in times of unfortunate eventualities. I sincerely request you to make generous contributions to the same and make a difference.

The sweltering heat coincides with summer vacations in schools and colleges and I am sure many of you must be planning to cool off by taking a break before plunging back to work. Wishing you happy holidays!

With best regards,

CA. Sanjeev Lalan