The Management Accountant - March 2024
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March 2024 - The Management Accountant
9
PRESIDENT’S COMMUNIQUÉ
a comprehensive compilation of thoroughly revised FAQs
on the Companies (Cost Records and Audit) Rules, 2014.
This compilation supersedes the previous three tranches of
FAQs issued by the Technical Cell.
I extend my heartfelt congratulations to the Technical Cell
of the Institute, under the able leadership of CMA Manoj
Kumar Anand, Council Member, ICMAI, for their diligent
efforts in compiling 50 important questions covering various
aspects of the Cost Rules.
For any clarification or further information, please direct
your queries regarding the FAQs to the Technical Cell of the
Institute at technicalcell@icmai.in. The FAQs are readily
accessible at: https://icmai.in/upload/Technical_Cell/TC_
CRA_1602_24.pdf
Annual Karnataka CMA Summit (KCMA) 2024
The Bengaluru Chapter in association with Mysore and
Mangalore Chapters of ICMAI organized Annual Karnataka
CMA Summit (KCMA) 2024 on the theme: “Viksit Bharat -
Going Global” on 23rd & 24th February, 2024 at Bengaluru. I
congratulate them for their initiative of conducting programs
at state level in collaboration with other chapters.
I along with my Council Colleagues CMA Manoj Kumar
Anand, CMA (Dr.) Ashish P. Thatte, CMA (Dr.) K Ch A V S
N Murthy, CMA Suresh R. Gunjalli and CMA Chittaranjan
Chattopadhyay, Regional Council Members of SIRC and
representatives of Bengaluru Chapter, Mysore Chapter and
Mangalore Chapter participated in the event. Around 300
members attended the event.
Regional Students Cost Convention 2024 of WIRC
I am happy to inform you that the Western India Regional
Council (WIRC) of ICMAI organized the “Regional
Students Cost Convention 2024” on the theme “Innovate,
Impact, Inspire: CMA to Redefining Boundaries and Nation
Building” on 17th & 18th February, 2024 at Nashik.
The event witnessed the active participation from more
than 750 students and members who formed the Largest
Human Mosaic of ICMAI Logo during the event, which was
registered in the World Book of Records. MCQ Question
bank & answers book for Intermediate & Final Examination
was also released. I congratulate WIRC of ICMAI on the
successful conduct of the event.
I wish prosperity and happiness to members, students
and their families on the occasion of International Women’s
Day, Maha Shivratri, Holi & Good Friday and pray for their
success in all of their endeavours.
With warm regards,
CMA Ashwin G. Dalwadi
March 04, 2024
MEMBERSHIP
As in previous years, esteemed members are reminded
that the annual membership fees for the year 2024-25 will
become due on 1st April 2024, reflecting in the members’
online system from the same date. However, for practicing
members, it’s crucial to note that their current Certificate of
Practice (CoP) for 2023-24 remains valid until 31st March
2024. To ensure the seamless continuation of their business
processes and operations into 2024-25, practicing members
must renew their CoP by paying the renewal fees, in addition
to the annual membership fee.
To streamline the process and avoid last-minute rush, the
online CoP renewal facility has been operational since 15th
February 2024. I urge all members holding CoP to utilize
this facility at their earliest convenience and not wait until
the eleventh hour for renewal. This proactive approach will
guarantee uninterrupted operations in the upcoming year.
Furthermore, as previously communicated, an advisory
regarding CoP renewal for 2024-25 has been uploaded on
the Institute’s website. For easy reference, the same advisory
is also published elsewhere in this issue of the Management
Accountant.
PEER REVIEW BOARD
I am delighted to announce that the Peer Review Board
has successfully assembled the inaugural panel comprising
52 Reviewers across India. These Reviewers have been duly
notified by the PRB Secretariat via email communication.
Additionally, the PRB Secretariat has reached out to
Practicing Members and Firms, soliciting their voluntary
participation in Peer Review processes.
I hereby urge all PCMAs and Firms to promptly provide
their consent to the Board, enabling further progress in this
initiative. The Board is poised to organize virtual Training
Programs for the Reviewers imminently, facilitating their
preparedness to undertake Peer Review assignments in
accordance with the Institute’s Peer Review System.
In line with our commitment to enhancing the capabilities
of practicing members, the Peer Review Board conducted
a webinar on 14th February 2024, titled “Introduction to the
Peer Review System of the Institute.” This session witnessed
enthusiastic participation from over 450 attendees. The
Chairman and Members of the Peer Review Board shared
invaluable insights and addressed participant queries during
the interactive Q&A session. Notably, CMA Neeraj D Joshi,
a Board Member, delivered a comprehensive presentation
on the Institute’s Peer Review System, which was highly
acclaimed by participants.
For those who missed the webinar, the recording is available at:
https://www.youtube.com/watch?v=TPDt3hdVf2s
TECHNICAL CELL
I am pleased to inform you that in response to the persistent
demand from our members and the essential requirements of
stakeholders, the Technical Cell of the Institute has published
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