The Management Accountant - February 2024
The pioneering Journal of the Institute, “The Management Accountant” has been published since January 1966. It is being published regularly keeping in mind the needs of the Cost and Management Accountants (CMA) and provides wide knowledge on the recent developments and changes in the global, national, financial and economic scenario. The rich contents in the Journal keep informed the readers of sound professional ethics and keep them abreast of new developments.
8 The Management Accountant - February 2024
www.icmai.in
“To succeed in your mission, you must have single-
minded devotion to your goal.”
-- Dr. A. P. J. Abdul Kalam
My Dear Professional Colleague,
harat celebrated the momentous occasion its 75th
Republic Day on 26th January 2024, marking a
significant milestone in its democratic history.
The Institute participated in the 75th Republic
Day celebrations with great enthusiasm and patriotic fervor
with the support of its Regional Councils and Chapters
across the country.
The Republic Day celebration organized at the HQ,
Kolkata was attended by CMA Bibhuti Bhusan Nayak,
Vice President, CMA Chittaranjan Chattopadhyay, Council
Member, CMA Avijit Goswami, Council Member and
Former Presidents CMA Biswarup Basu, CMA Harijiban
Banerjee & CMA Mahesh Shah, and CMA Kaushik
Banerjee, Secretary along with other officials of the Institute.
Referendum on Shifting Headquarters of ICMAI
from Kolkata to Delhi
As you are aware the Institute was in process of
conducting a Referendum for deciding the place of Head
Office of the Institute. Now, I am pleased to announce
that the referendum is scheduled for 12th February 2024,
and will conclude on 14th February, 2024. All members
whose names are on the Membership Register as of 31st
January 2024, are eligible to participate. The referendum
will be conducted through e-voting, facilitated by M/s
Central Depository Services (India) Limited (CDSL), on
the platform www.evotingindia.com. You will soon receive
a User ID and Password from CDSL via email and SMS
on your registered mobile number from CDSL.
Meeting with Hon’ble Union Minister of Defence
I along with CMA Manoj Kumar Anand, Council
CMA Ashwin G. Dalwadi
President
The Institute of Cost Accountants of India
Member, ICMAI and CMA Vinayaranjan P., Council
Member, ICMAI, CMA K Panduranga Rao, Vice Chairman,
SIRC, ICMAI had an opportunity to meet Shri Rajnath
Singh, Hon’ble Union Minister of Defence on 27.01.2024
and discussed the matters related to the Institute and CMA
profession.
MoU with JIS University
On the 24th of January 2024, a Memorandum of
Understanding was formally executed between the Institute
and JIS University at the 47th International Kolkata Book
Fair auditorium. This collaborative MoU aims to foster
joint initiatives in the realms of education, research and
professional development. The signing ceremony, attended
by distinguished representatives from both entities. CMA
Bibhuti Bhusan Nayak, Vice President, CMA Neeraj Joshi,
Council Member, CMA Chittaranjan Chattopadhyay,
Council Member, CMA Avijit Goswami, Council Member,
CMA Vinayaranjan P., Council Member, CMA (Dr.)
Kaushik Banerjee, Secretary and other officials of the
Institute. On the JIS University side, notable participants
included Sardar Simarpreet Singh, Director, JIS Group,
Prof. (Dr.) Bhavesh Bhattacharya, Vice Chancellor, JIS
University, among others. The event drew an audience of
over 500 students, members and guests, underscoring the
significance of this collaborative endeavor.
Peer Review Board
I am pleased to inform you that the Peer Review Board
in its 12th meeting held on 29th January 2024 has decided
to finalize the List of Reviewers considering the requests
for empanelment received by the Board from the practicing
members in response to its earlier communication. The
PRB Secretariat has sent another communication in this
regard to those members. I urge the members to respond
to the communication within the given timeline so that the
list of the Reviewers can be finalized by the Board. The
Board is gearing up to initiate the Peer Review process in
the Institute w.e.f. 1st April 2024 and the members shall be
informed accordingly by the Board. Please do respond to
the communications from the Board. I hereby wish the Peer
Review Board all the success in its endeavors.
Release of Guidance Notes
I am pleased to inform you that the Institute has released
the following three Guidance Notes:
Guidance Note on Techniques of Artificial
Intelligence (AI) and the Role of Cost and
Management Accountants: In an era marked
by profound technological advancements, it is
imperative for Management Accountants to remain
at the forefront of innovation. Artificial Intelligence
(AI), with its far-reaching influence across sectors
and societal management, presents both a promising
opportunity and a formidable challenge that demands
our attention.
Guidance Note on Role of Cost Accountants in
PRESIDENT’S COMMUNIQUÉ
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