Western India Regional Council of
The Institute of Chartered Accountants Of India

Chairperson Communication

Chairperson WIRC

Dear Professional Colleagues,
“No matter what is the environment around you, it is always possible to maintain your brand of integrity.” Abdul Kalam.

Integrity stems from the Latin word ‘integer’ which means whole and complete. So integrity requires an inner sense of ‘wholeness’ and consistency of character.

It’s important to note that the moral principles are undefined and vary from person to person. Situations crop up in our professional lives and these difficult situations must be approached with clarity of thought coupled with integrity.

This reminds me of what Stephen Covey said in his book ‘The 7 Habits of Highly Effective People’ – Integrity includes but goes beyond honesty. Honesty is telling the truth, in other words conforming our words to reality. Integrity is conforming reality to our words – in other words, keeping promises and fulfilling expectations. This requires an integrated character, a oneness primarily with self but also with life.

Integrity is important for professionals for various reasons. Chief amongst them being that a professional with integrity creates a strong reputation, which for a finance professional, is career defining. Most importantly, it builds a solid, long term career vision, which teaches you to focus on results five years from now instead of five minutes from now.

You would agree that integrity is a state of mind which is never situational. It is very well said that integrity isn’t really a value in itself; it is simply the value that guarantees all the other values. WIRC has not only encouraged but implemented this positive attitude across the Region from members to students. At the same time, keeping members updated and educated is a fundamental aspect of the Council.

We had the great honour of interacting with CA Piyush Goyal, Union Minister of Railways and Coal, Government of India. He appreciated the WIRC publication on Maharashtra State Ordinance 2019 and encouraged office bearers of WIRC to continue to do good work.

I am pleased to state that Shri Sudhir Mungantiwar, Finance Minister of Maharashtra accepted our invitation to address the lecture meeting on ‘Analysis of Amnesty Scheme under MVAT & Allied Laws’ as well as release the WIRC publication ‘Guide to Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Ordinance’ 2019 at this hands.

During his visit we also presented the representation on the said ordinance. He accepted our representation and convened a meeting with SGST Commissioner Mr. Jalota where we had a detailed interaction and presented our suggestions, making the representation for members and businesses at large.

The presence of high ranking Government Officials at our functions is testimony to the standing of WIRC in the eyes of the Government. At the same time, keeping members updated and educated is a fundamental aspect of the Council. To that end, a number of seminars, conferences and lecture series took place last month which helped our members get a deeper understanding in different sectors related to the profession.

We organised lecture meetings on ‘Audit Reporting – SA 700 Series’; ‘Recent Changes in GST on Real Estate’ and a seminar on ‘Internal Audit’ which was very detailed and drew appreciation from attending members. Seminar on ‘Post Assessment under IT Act’ and seminar on ‘Business Re-organisation’ received positive comments from delegate members.

WIRC organised a seminar for students on ‘GST Annual Returns & GST Audit’ which was very well received by students.

WIRC office bearers visited the branches of all three states along with the branch nominees and respective branches. We have visited the following branches, Nanded, Latur, Solapur in Maharashtra, Rajkot, Jamnagar and Ahmedabad in Gujarat and Goa, to serve the purpose of interacting at the grass-roots level with members and students for a better understanding of the issues as well as provide solutions for the same.

I look forward to this year being an ‘integral’ period of introspection, acceptance and learning towards ensuring that as elite professionals we remain ‘Driven by Values’ remembering that integrity is the essence of everything successful.

I am fortunate to have an excellent team at WIRC who initiated the remarkable work in their respective committees. The interactive meetings with each committee and council held during the month were very constructive where valuable inputs received from members, enabling us to chalk out the annual activity plan for each committee.

I compliment all my colleagues in the Council along with nominated members for putting their whole hearted efforts to take WIRC to greater heights. “If everyone is moving forward, then success takes care of itself ” – Henry Ford

With Best Wishes,
CA. Priti Paras Savla
Chairperson

 

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