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

(Setup by an Act of Parliament)

Chairman Communication

CA Lalit Bajaj

Dear Members,

“The key is in not spending time, but in investing it.” – Stephen R. Covey

We all have the same 24 hours in which to carry out our activities and duties. However, time can stretch to accommodate what we choose to put into it. As professionals, we experience this quite often with multiple client requirements to be carried out amidst tight deadlines. Despite these situations, we forge ahead and complete all the tasks satisfactorily because while the time remains the same, we invest more of ourselves, knowledge and experience to fit in the new priorities and attain positive results.

Over the past calendar year, WIRC has invested time in professional education, raising awareness and ultimately generating a return on this investment by inspiring a cadre of highly motivated professionals fortified with cutting edge industry knowledge and we will continue to do so in the future as well.

I am pleased to state that the 35th Regional Conference of WIRC of ICAI was a grand success. We were graced with the presence of Chief Guest Shri Nitin Gadkari, Hon’ble Minister of Micro, Small and Medium Enterprises & Minister for Road Transport & Highways, Government of India. He spoke of the progress India continues to make and was appreciative of the contributions made by Chartered Accountants. The Guests of Honour comprised CA. Atul Kumar Gupta, President – ICAI; CA. Nihar Jambusaria, Vice President – ICAI and CA. Prafulla Chhajed, Imm. Past President – ICAI.

We successfully hosted two national conferences, namely the “Virtual National Conference on Technology - Machine Learning, Automation and Data Analytics – A necessity in today’s hyper connected World”, organised by Digital Accounting Assurance Board – ICAI, and the second conference on ‘Financial Reporting - Aspects and Analysis’ organised by the Financial Reporting Review Board of ICAI.

At the beginning of this term, we took several important decisions for the betterment of our members and students. One of the decisions was to share knowledge amongst members and students and help them improve professionally by publishing e-publications to be freely accessible to all members and students through our website. The second was to encourage the creation and publication of industry specific research papers to help our fraternity strengthen their foundations theoretically and practically through studying of relevant cases.

Keeping the momentum going, we recently released an e-Publication on the Technology Industry. This publication will help members working or providing services to technology entities in a more efficient manner.

WIRC’s two-day virtual Sub Regional Conference hosted by the Vadodara Branch saw speakers delivering their insights on relevant subjects to members in attendance. Our esteemed President and Vice President ICAI graced the inaugural session.

The goal of WIRC’s various initiatives has always been professional and academic growth of members and students. From virtual Workshops on ‘Data Management using Tools MySQL, R and Excel’ and ‘Data Governance & Ethics’ to collaboration with educational institutions such as Mumbai University, Shri Jagdishprasad Jhabarmal Tibrewala University (Jhunjhunu), the Pacific Academy of Higher Education & Research University (Udaipur) and with Smt. Maniben M.P. Shah Women’s College of Arts and Commerce (affiliated to SNDT University), our initiatives are constantly enabling the development of our fraternity.

Increasing number of our members are aiming for and reaching higher management levels within the profession as well as industry. To support and raise their value profile WIRC has tied up with IIT Mumbai for an IIT Certified ‘Management Development Program on Business Analytics’. We look forward to members benefitting from this course.

With the lockdown slowly easing, we are reconnecting with our Branches across the Region. We recently visited Akola, Amravati, Nagpur, Pune, Pimpri-Chinchwad, Sangli, Satara, Kolhapur and Ichalkaranji branch of WIRC of ICAI. I take this opportunity to thank all members of Branches throughout our Region as it is their constant support which enabled the WIRC, as a whole, to move forward in 2020.

WIRC organised virtual Investor Awareness Programs jointly with Study Circles to impart correct education to all those wishing to learn more on this subject. Similarly, WIRC’s joint programmes with various Branches such as Vapi, Vasai, Kalyan-Dombivali, Nashik, Nagpur and Surat received an enthusiastic response from these Branches and we look to conduct more such joint progammes in the near future. We are thankful to the Branches and Study Circles for enriching us in conducting the events.

In the current situation, WIRC ensures that issues and concerns of members and students are taken forward promptly with relevant representations to the Committees of the Central Council, whereby these can be represented at the appropriate forum.

As members are aware, the Union Budget will be formulated soon. To assist the Government in this task, we have through our Central Council Committees submitted pre-budget recommendations for the Union Finance Bill and also to the State Government for the State Finance Bill. I am sure these recommendations will be beneficial to the relevant department.

We have learned a lot in the last 12 months. A New Year is in front of you, wipe the slate clean, reinvent yourself and take your life in a new direction. When you decide to achieve, nothing can ever stop you from reaching your goal in the New Year. I wish all members and students a very Happy New Year 2021.

Best Regards,
Yours Sincerely,
CA. Lalit Bajaj