The Alappuzha branch of ICAI came into existence on the 21st of October 1981 in a glittering function held at the premises of the Travancore Chamber of Commerce, Alappuzha. The branch was inaugurated by the then President CA. Bansi. S. Mehta, in the presence of then Vice President C.A Asokh Kumbat and the then Secretary of the ICAI Sri. P. S. Gopalakrishnan.
The following members constituted the first Managing Committee:
1. CA. L. RENGAMANI, Chairman
2. CA. P. G. Paniker, Vice- Chairman
3. CA. S. Mahadevan, Secretary
4. CA. K. K. Padmanabha Pillai, Treasurer
5. CA. J. Krishnan, Member
6. CA. M. Abdul Rahim, Member.
Every month, on the first Thursday, Members of the branch used to meet and discuss professional topic of importance. The branch also made it a point to organize Seminars by inviting well- known faculties from other places like Mumbai, Calcutta and Chennai and from day one the activities went on in full swing. At this juncture it was felt necessary that the branch owns a building of its own and with this view in mind, Alappuzha Chartered Accountants Association acquired a building of 1000 sq. feet in the heart of the town to house the Alappuzha Branch of ICAI on 29.7.1982. Later on this building of the Association was transferred to ICAI, Alappuzha Branch. As matching grant ICAI sanctioned fund for the construction of the office building adjacent to the main hall both the building are still there. As the activities of the branch went on in a big way with All India Seminars being organized regularly and SICASA being formed in Alappuzha and library for members established, it was found necessary that the branch moves into a large area due to constraints of space in the existing building. With this view in mind, we approached the institute for financial assistance. By regular follow up, this was able to be achieved in the year 2011. The then President CA. Amarjit Chopra and Vice President CA. G. Ramaswamy sanctioned full fund for acquiring the land extending to 42 cents, and immediately the then President CA. Ramaswamy sanctioned fund to the tune of Rs 1.35 crores for construction of the building. In a record time of one year, the branch was able to inaugurate the new building by the then President CA. Jaideep N. Shah in the presence of past President CA. R. Balakrishnan in a glittering function in the venue. In fact, the president who inaugurated remarked that this is one of the best buildings on all India level. This was jointly achieved due to the concerted efforts of many members of our branch right from the point of procurement of land till the point of finishing the construction. Subsequently various improvements / additions have been made to the building by way of external amenities and recently sanction has been accorded by the present council of ICAI to the tune of Rs. 40 lakhs for various amenities like installation of Bore Well, laying of approach road, further computerization in the branch and so on. The branch is now actively conducting 3 courses in GMCS, Orientation Programme, ITT Centre, and Crash Coaching Classes for CPT and IPCC students. Every month CPE meeting are held and addressed by members of branch or outside faculties on topic of current importance. The branch is having extensive Library facility. It is proposed to establish a Reading Room in consonance with the institute direction at the old premises. The branch is also regularly organising residential courses every year.
Thus continues the Saga of the Alappuzha branch of ICAI.
PROFESSIONAL OPPORTUNITES :
1. In this issue I, would like to discuss and give my impression on the professional opportunities available to Chartered Accountants. Many of us are engaged in the conventional practice of preparation of financial statement and filing of Income tax returns and also representing before the Income Tax Authorities wherever there is a scrutiny Assessment. Other than this annual exercise of statutory bank audit is there which is also being reduced slowly. We are not trying to enter into other areas of professional requirements, and are also even dependent on the result we are able to deliver in these conventional practices.
2. The area of Service Tax has assumed greater role and importance in the day to day professional practices. Being a subject matter of administration under the Central Excise Department, ample opportunities are there and the clients are also not fully equipped to meet the challenges on the issue. Therefore, I believe that this is an area of greenery for us and we are yet to ponder the possibility of representation. After the introduction of Negative list in 2012 many of the services subject to the turnover aspect have been brought under the ambit of Service Tax. I feel, much future is there in this line of practice.
3. Yet another area is into the drafting line hitherto we have been preparing only partnership deed and some of us are engaged in the registration/formation of limited companies which is now on on-line system. Other than this, there are multi-farious avenues in the drafting line like preparation of lease deeds, MOUs, power of attorney, sale deeds, agreement of sale, WILLS and so on. The work involved in the above line of practice is according to the requirement of the Clients. Though there are standard formats in most of the cases one has to tune the draft to suit the requirement of the Clients. Here the role of Chartered Accountants assumes much importance in view of their professional knowledge and expertise.
4. Yet another line of practice would be to upload various statutory documents like ETDS returns etc etc. It is noticed that in many cases these have been outsourced by the clients to approved entities. In such a scenario, why cannot we take the responsibility and execute for our clients, to start with.
5. With the introduction of new Companies Act 2013, the field of internal audit has also assumed importance. Even otherwise, many of the corporate houses are undertaking internal audit whether it is mandatory or not. This will not only create an opportunity for many personals to get employed but also would bring- forth more transparency in the maintenance & audit of accounts.
6. I have only given some of the opportunities available and this is very much exhaustive and we have to grab such opportunities whenever it falls on us.
