“A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history” – Mahatma Gandhi
Circa August, 2005, a handful of Chartered Accountants, with a zeal for learning and education, huddled together to form a study circle in Pune for the benefit of all Chartered Accountants. Despite being met with cynicism and doubt, a modest group of 25 like minded members joined hands to form the Pune West CPE Study Circle of WIRC of ICAI. The primary objective of the study circle was to conduct Continuing Programs of Education (CPE) and to facilitate discussions between the members of the ICAI on various technical and non-technical aspects relevant to the profession. What distinguished Pune West from the other study circles was the urge to be as innovative and broad in it’s vision of being a knowledge platform.
The journey of continuous learning started with the monthly meetings on topical matters which soon transcended into the first mega conference on Taxation held in November, 2005. The conference, unique to Pune for it’s topic, speakers and scale, was a huge success with an attendance of ~325 members indicating the yearn of the Pune CA fraternity for quality learning. Over the course of time, the Pune West has held several conferences in the last 7 years focusing on topical subjects of intriguing complexity.
Some of the key themes of our conferences were:
Accounting and Tax conventions
Indian Capital Markets
Intensive courses on Indirect Taxes
However, the role of a study circle is incomplete if it is unable to channelise the views of its members at the right forums. In the past 9 years, the study circle has submitted representations to the CBDT/Finance Ministry on the Union Budget expectations and has followed it up by having conferences on Union Budget discussions. The members of the study circle have made technical representations to the ICAI on the various Exposure Drafts of the Accounting Standards, Auditing standards as well as non technical representations on the ICAI’s study circle guidelines from time to time. Study Circle also contributed to regulatory authorities by submitting representations on various laws of lands such as Legal Metrology Act, FEMA 20, Reserve Bank regulations, Companies Act, 1956 and several others.
With such a unparalleled enthusiasm and pervasive contribution of the study circle members collectively, the Pune West was bestowed with the Highly Commendable Study Circle award in 2006 and 2010 and the Best Study Circle Award outside Mumbai region by WIRC for 5 years (2007,2008, 2009, 2011, 2012), a recognition for all the hard work and commitment of everyone. Further Pune West’s research report on “Know Your Customer (KYC) norm for Bank account opening and financially weak group of our Society – Ideas to fulfill KYC and get them into the system!” was awarded as “Best Research Report” by WIRC of ICAI in 2010. The Study circle has also submitted its valuable research paper on “Implementation of Accounting Standards in SMEs” to WIRC recently. Starting 2013, the study circle decided not to apply for WIRC award for various reasons cited by the members and the core team.
As we reflect back on the up and lows of the past 9 years, we fathom that the study circle, today is at a point of inflection, as it moves ahead with new vigor and enhanced challenges on the less traversed path of excellence. With the firm support of the Chartered Accountants of Pune, the study circle hopes to imbibe in its DNA, our motto of “ Promoting Thought Leadership.”
At the dawn of the 21st century, in a world where knowledge truly is power and a good network is the key that unlocks the gates of opportunity and success, our study circle endeavors to instill in our members the desire to seek knowledge and expand their network for the collective betterment of our profession.
Team Pune West CPE Study Circle of WIRC of ICAI !