उद्धरेदात्मनात्मानं नात्मानमवसादयेत् |
आत्मैव ह्यात्मनो बन्धुरात्मैव रिपुरात्मन: ||

"Elevate yourself through the power of your mind, and not degrade yourself, for the mind can be the friend and also the enemy of the self." - Bhagavad Gita, Chapter 6, Verse 5.

Dear Colleagues,

The Bhagavad Gita is a tremendous resource for those seeking guidance whether personal or professional and the lessons are as relevant today as when they were penned down aeons ago. The passage above is extremely relevant to us, highlighting that while you are your own greatest friend, you need to be constantly vigilant to prevent yourself from becoming your own greatest enemy.

We, at WIRC, take this ethos very seriously to the point that elevating the minds of our members and students has become our greatest mission. Every single Chairperson since the founding of this Council has endeavoured to create an exceptionally supportive environment where members are surrounded by positive reinforcements at all times through education, networking connections, global interactions, etc., all aimed at ‘Elevating yourself through the power of your mind’.

It is due to this deep rooted constructive mind-set that the WIRC has regularly been awarded the prestigious ‘ICAI Best Region Award’ and WICASA the ‘Best Student’s Association Award’ in the country by the Institute. I take this opportunity to laud the efforts of my predecessor and his team whose consistent efforts ensured that WIRC and WICASA were presented these awards for 2022-23.

I am deeply humbled and honoured to have been elected as the Chairman of the Western India Regional Council for the upcoming year. I am grateful for the confidence that you have placed in me, and I look forward to continuing the service as others have before me of being the voice for our fraternity and the profession for the greater good of members and students everywhere.

As Chartered Accountants of WIRC, we maintain a reputation for high ethics, rigorous education and deep experience, and our guidance provides trust and confidence in industry, businesses public institutions and economies. To develop these strengths to greater heights, I strongly believe that we must move ahead with ‘P.R.I.D.E. - Perform. Relearn. Innovate. Distinguish. Enrich.’.

The spirit of this message clearly outlines the important facets we must imbibe to empower us to take pride in the excellence of our work and our contributions to the success of our stakeholders, society and nation. As we embark on this new journey together, I am excited to walk shoulder to shoulder alongside each and every one of you to advance the goals and objectives of our Institution and profession.

From my observations, I am of the understanding that there is a very solid rationale to promote professional and fraternal growth amongst our members. Analysing the last 75 years, we can detect the growth of Indian accounting services which have matured from a local framework into an international outlook. At the same time, the Indian economy is expected to touch the USD 5 trillion mark in the near future. On one hand we perceive this continuous growth in industry and economy and at the same time, we see that there are only 4 lakh plus CAs to service, support and guide this vast movement forward.

Considering that we are a small pool of specialists, it is clear that the need of the hour is to synergise our strengths. In this scenario, the only way to differentiate ourselves and to make concrete progress would be to put aside differences and consolidate our effectiveness by working together in order to grow together. I am confident that this co-operation would enrich all members and appeal to all Chartered Accountants to join with WIRC and deep dive into this sea of opportunities.

A critical aspect of progress in the profession is that of constant learning and development. Increased number of individuals are entering practice and their development is vital to growth. While a few firms do have a process for learning, the majority carry on without a specific action plan to ensure that all Chartered Accountants are current with the latest intelligence relevant to the services provided by that organisation.

This is a lacunae which has to be fixed and the way forward is by CA firms creating a dedicated learning and development manager. To take this forward, we should look at tapping a powerful resource which has always been part of the fraternity and who continue to take ever larger responsibilities on their shoulders - the Women CAs. Many women Chartered Accountants take sabbaticals and are eager to re-enter the profession keeping in mind their added commitments. With their professional backgrounds, Women CAs can develop into accomplished resources for firms looking to create a solid learning and development program. We, at WIRC, will be looking to concretize this concept and look forward to your inputs for the same.

Important goals for the coming year will be to continue to strengthen our support systems & processes to increase professional opportunities for members and students in an increasingly diverse future. I am committed to fostering an inclusive and collaborative environment where all members can thrive and contribute their unique perspectives and talents.

I am confident that as we hold our heads high and conduct ourselves with P.R.I.D.E., this will be a truly memorable year. Once again, I am thankful for the confidence placed in me and look forward to working with all of you to make the Western India Regional Council an even greater success in 2023-24.

Thank you for your trust and support.

CA. Arpit Jagdish Kabra

Chairman