Chairman's Message

Dear Esteemed Colleagues, Dear Esteemed Colleagues,
I wish to begin my write up by wishing you a happy financial year 2019-20 and also wish you a happy Bank Audit season.
The Bank Audits this year are little different as the Bank Branch Auditor has to generate UDIN for Certificates he issues to the branches. Also this year Bank Branch Auditors belonging to Andhra Pradesh or Telangana have to remember important date that is 11-04-2019. On 11-04-2019 General Elections and Assembly Elections are held in these two states. I request all the members to Vote in the elections and contribute in success of Democracy.
To gear up with the changes thrust upon CA Professionals branch is conducting series of seminars, workshops, study circle meetings to enable members to meet newer challenges.
We are organising a Three Day - 18 Hour Advanced GST Workshop on 10th , 11th ,12th May 2019 in association with Indirect Tax Committee of ICAI. The detailed structure of the program, topics, speakers etc will be informed to members soon. I request all the members to attend and take the benefit of listening to experts on GST.
We are organising a Half Day Seminar on 23.04.2017, on the eve of Branch Formation Day. CA. V. S. Prakasa Rao from Hyderabad will address on Effective Concurrent Audit Reporting. On that day we are recognising the services of Past Chairmen as a mark our gratitude towards their relentless efforts for the branch. This year we are felicitating three past chairmen of the branch, CA. A. V. Chalam, CA. B. V. Rao and CA. Ashok Miripuri on that day. I request all the members to attend the meeting and make it a grand success.
A Full Day Seminar on Income Tax is being scheduled on 27th April 2019. CA. Girish Ahuja from New Delhi and CA. E. Phalguna Kumar from Tirupati are the resource persons for the seminar.
Details of these two important events are published separately in this news letter.
During the month of March, we have organised mock tests for both Final and IPCC students and students have actively Participated to test their knowledge level and preparedness for the upcoming CA exams.
Similarly the ICAI is conducting Live Virtual Classes to CA Students at very nominal fees. I request the members to pass on the message to CA Students who can avail the benefit of the classes. Students can register themselves online at the link: new_post.html?post_id=14781
The month of March was as usual an eventful one.
On 2nd March we have organised full day seminar on Ind AS, Changes in GST wef 01-02-2019 and Discussion on Finance Bill 2019. The session on IND AS was taken up by CA. P. Vivek Raju from Hyderabad, Session on GST was taken up by CA. B. Vinay Gandhi and Discussion on Finance Bill 2019 was taken up by CA. Ramdev Bhutada from Hyderabad. The detailed discussion on IND AS was very relevant particularly on IND AS 116 on leases where in the speaker brought through very nicely the treatment of leased assets in IND AS. Also CA. B. Vinay Gandhi brought out in detailed manner the changes which are applicable from 1StFebruary 2019 which was well received by members. CA. Ramdev Bhutada discussed the changes brought through Finance Bill 2019 in a detailed manner and also highlighted the Penalty provisions. I thank all the speakers for bringing out best content to members.
On 8thMarch 2019 we have organised a half day seminar for women members on the eve of International Women's Day. The Seminar was inaugurated by Chief Guest Smt V Madhu Vani, CIT Appeals -2. The key note addresses was very inspiring. The branch has also felicitated three women members - CA. Kunda Sri Naga Lakshmi, CA. Yamuna J and CA. A. V. S. Lalitha Sundari. The sessions were conducted by Smt Yashi Gupta on Stress Management and CA. K. Aswani IND AS related to capitalisation of an asset. Both the speakers have spoken very well.
On 9th March Seminar on Bank Branch Audit has received an outstanding response from the fraternity and participated by more than 200 members. The Seminar was inaugurated by Sri V Sridhar DGM State Bank of India. We had an excellent learning on "IRAC norms, LFAR and Important Certifications" by CA. Dhanjay J Gokhale from Mumbai. Also this time we held a exclusive session on "Agriculture Advances" which was taken up by CA. V. Chandra Sekhar from our own Visakhapatnam. "Audit under CBS Environment" was taken up by CA. Kuntal P Shah from Ahemedabad. I thank the resource persons for their excellent deliberations on the subject.
In the March 2019 on 15th, 16th and 17th we have conducted three days workshop on Auditing Standards which was participated by more than 75 members. The three days workshop was inaugurated by Smt Vijayalakshmy K Gupta, IDAS, Former Defence Secretary Finance and Former TRAI Member. She remarked Auditing Standards are Like Constitution of India for carrying on Attest functions by Members. The three days workshop has also become a stage to recognise and felicitate CA. V. S. N. Murthy Garu on completing 50 Years of Professional Life. I thank all the speakers and Chief Guest for making the three days workshop fruitful. I also extend our thanks to AASB of ICAI for organising the seminar.
The Bank Audit Work Shop was organised on 23rd March 2019 to have interactive session with speakers. The speakers for the Workshop were CA. K. C. S. Guru Prasad, CA. B. Vinay Kumar, CA. D. Premnath. The speakers with their numerous years' of experience as an auditor of banks in various capacities, have covered the subject in well-conceived manner with simple and lucid illustrations for easy understanding.
On 23rd March I had the opportunity to participate in the event of Award Presentation to CA. P. Lalitha. She was conferred with "Ogirala Veera Raghva Sarma Endowment Award". I congratulate the CA. P. Lalitha madam on her rare achievement. In the occasion while telling her achievement the organisers made a very valid remark, they said CA now has a new abbreviation that is "Carnatic Artist". It is highly important a professional pursues his passion apart from doing his profession, madam has done it.
On 23rd March in the evening a seminar was conducted for students on Bank Audit. The speakers for the seminar were CA. K. C. S. Guru Prasad and CA. B. Vinay Kumar. The students participated in large numbers and made it a grand success.
In that meeting the meritorious students in recently held CA exams Nov 18 were presented with Prize money constituted by various Student prize donors.
Members as discussed in my action plan - To organise Study Circle meeting on every Wednesday with topic of relevance,in this month we have organised one study circle meeting.
On 27th March 2019 we organised a study circle meeting on Relevance of IND AS on bank audits. The topic was taken up by CA. V. S. N. Murthy. The speaker brought out important changes IND AS is going to bring to Banking Industry.
I thank our past chairmen CA. P. V. S. P. Kumar and CA. N. Abhilash for enlightening the students on How to face CA Examinations Meeting on 16-03-2019. The program was well received by students.
Once again I wish you all happy & prosperous Ugadi, while wishing you a fruitful financial year 2019-20. I request each one of you to participate in the forthcoming programmes and get benefited.

With Warm Regards
CA. M. Chalapathy Rao