The Management Accountant - July 2024
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8 The Management Accountant - July 2024
www.icmai.in
“For those who dare to dream, there is a whole
world to win.”
-- Dhirubhai Ambani
My Dear Professional Colleague,
s I pen down this final communique
to you as the 66th President of our
esteemed Institute, I am filled with a
profound sense of gratitude, pride, and
reflection. This past year has been an incredible
journey, marked by numerous milestones,
challenges, and remarkable achievements that
have collectively strengthened the fabric of CMA
professionals.
I would like to take this opportunity to extend
my heartfelt thanks to my council colleagues
and government nominees for their unwavering
support, wisdom, and dedication in guiding the
Institute through a year filled with both challenges
and triumphs.
When I assumed the office, I envisioned a year
of progress and collaboration, and together, we
have surpassed many of our goals. Our efforts
to advance the field of cost and management
accounting have been relentless and fruitful. I am
happy to share some of the key accomplishments
and highlights of my tenure as follows:
Shifting Headquarters of ICMAI from
Kolkata to Delhi:
I am grateful to you all for supporting the
decision of the Council and active participation
CMA Ashwin G. Dalwadi
President
The Institute of Cost Accountants of India
in the referendum through e-voting conducted by
the Institute during 12-14 February, 2024 through
CDSL for shifting of Headquarters of the Institute.
The outcome of this historic referendum reflects
the collective voice of the CMA fraternity. I am
sure that the Ministry of Corporate Affairs shall be
issuing the necessary notification on the proposed
amendment in Regulation 89 of the Cost and
Works Accountants, Regulation, 1959 i.e. shifting
of headquarters of the Council from Kolkata to
Delhi.
MoU with Confederation of Indian Industry
(CII):
ICMAI has signed a MoU with Confederation of
Indian Industry (CII) with the objective to propel
the adoption of CII’s cutting-edge ‘Total Cost
Management (TCM) initiative, a transformative
approach designed to optimize cost structures
and enhance the overall competitiveness of Indian
industries on the global stage. The TCM initiative,
developed by CII, offers a comprehensive
framework that goes beyond traditional cost-
cutting measures. It focuses on holistic cost
management strategies, encompassing areas
such as supply chain optimization, technology
integration, and skill development. By leveraging
ICMAI’s proficiency in cost accounting and
management, this collaboration aims to equip
industries with the tools and knowledge necessary
to streamline operations and drive economic
prosperity.
MoU with Indian Institute of Management,
Ahmedabad (IIMA):
ICMAI has signed a MoU with Indian Institute
of Management, Ahmedabad (IIMA) with the
objective to formally document and provide
guidance to ICMAI for strategizing ICMAI’s
future trajectory.
Opportunity for Restoration of
Membership:
In accordance to Section 20 (1) (c) of the Cost
and Works Accountants Act, 1959, as amended,
read with Regulation 7(6) and 7(7) of the Cost
and Works Accountants Regulations, 1959, as
amended, the Council of the Institute took the
decision to remove the names of members from the
Register of Members on account of non-payment
PRESIDENT’S COMMUNIQUÉ
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