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 only constant in life is change”, the words by great Greek Philosopher Heraclitus has been true since ages. Time and again, the world have faced innumerable challenges but have always managed to adapt to the changes and situations and move forward as stronger and better.

Currently, the world is facing another such challenge in Covid 19, and we need to make sure we come out of this grave situation as an improved version of ourselves. One of the best ways to do so is to adapt to the changes.

Recent changes in professional environment

As professionals, one of our biggest challenge is how we perceive and adapt to recent changes in work environment and technological developments. Digitalization is now rapidly becoming the core of all business activities and we are rapidly implementing things that were only discussed but never completely implemented.

The technological advancements have made working remotely from the safety of your respective homes a reality. Various software allows us to seamlessly connect, share data, and collaborate with our colleagues and client. However, with increase in use of these software has also increased the risk of data loss and cyber frauds. Members shall ensure that data security measures, such as use of Virtual Private Networks, Firewalls, Antivirus, Strong passwords controls etc. are being followed.

Knowledge sharing and skill development through webinars

To ensure that our members continue to remain at the cutting edge professionally, WIRC has invested lot of time and effort towards creating webinars with erudite speakers. These webinars provide all the information which a Chartered Accountant needs to provide the best client service as well grow professionally.

I am pleased to state that WIRC has listed over 40 webinars and we have already completed more than half webinars. The webinars has been widely appreciated by members and we have recorded large participations in these new age seminars.

Apart from webinars on technical areas like direct tax, indirect tax, corporate laws, auditing etc., we have emphasized on holistic growth of our members as well. Having, this in mind, we have organized session for improving new soft and hard skills for members. This is the perfect time for everyone to work towards selfimprovement and I entreat members to work on areas of professional interest which can be strengthen.

WIRC Covid 19 Economic Response Study Group

We understand the Covid-19 pandemic has disrupted the economy at large and the impact will be long lasting and multisectoral. We, Chartered Accountants, are the guardians not only of wealth but have responsibility for our constructive contributions towards nation building.

In order to identify, study and suggest solutions for economic issues arising due to pandemic, we have formed the WIRC Covid 19 Economic Response Study Group. The study group shall identify, study, and suggest solutions to ICAI - Accounting Research Foundation (ICAI-ARF) for onward representation to various departments of the Government of India. Further the submissions will also be made to the Governments of Maharashtra, Gujarat and Goa.

Members are requested to fill in the online Form at following link- (https://forms.gle/ n8RLFBA728mGkBVo6 ) with your suggestions. In case there are suggestions in more than one category, kindly fill separate form for each category. You are also requested to kindly circulate the form to your clients and your network so that we can get maximum inputs can be generated and assist the Government in their efforts to stabilize and grow the economy through right policies and incentives in the months to come.

Helpdesk for members/ students

As professionals, while working from home we may come across certain situations which need clarifications. I am pleased to state that WIRC has taken a step towards proactively clearing doubts and clarifying any issues you may have. WIRC has created a helpdesk where you can post your all queries to be resolved at one go. Your queries would be channelized to the concerned person for necessary action / response. The queries can be posted at https:// helpdesk.wirc-icai.org.

Free access to e-publication

With a view to share knowledge amongst members and students and help them improve professionally, we have decided to provide e-publications which will be freely accessible to all members and students through our website. Further, all resources published during last 2 years has already been uploaded on the website. This step will go a long way towards helping our fraternity strengthen their foundations theoretically and practically through studying of relevant cases.

Consolidated speakers pool

In order to engage members and students at branch level, we have compiled a consolidated speakers pool. The database comprises list of over 425 eminent speakers with their area of expertise and details of seminars/webinars given by them. The database will help branches to conduct webinars for sharing the expertise of speakers with our members and students.

Industry specific research papers

WIRC has taken the initiative to prepare and submit research papers focusing on 5 industries viz. Technology, Food Processing, Logistics, Hospitality and Health care.

Under this initiative, research papers prepared and sent by members of our Branches shall be compiled and further refined before being submitted for publication. I am pleased to state that we have already received many research papers on the above mentioned topics and we look forward to creating insightful publications on behalf of WIRC members in the near future.

I take this opportunity to thank the Central Council Members, my colleagues in the Regional Council and Branch Committee Members for providing leadership and guidance during this period, enabling us to craft high quality webinars which are much appreciated by members and students.

I am confident that we have found the best formula to continue to keep our members at the cutting edge of professional knowledge for the foreseeable future. I promise you that we will continue to do the stellar work which we began in March for the greatest good of the entire Western India Region.

I entreat all members and students to practice social distancing, be safe and take care.

Yours sincerely,
CA. Lalit Bajaj