President’s Message | January 2023

Dear Professional Friends,

Let me start my message by wishing you all a very happy 74th Republic Day. It is a pride for each one of us Indians on this remarkable day. This reposes new confidence on all of us which we are proud and happy. This was the day the constitution of India came into existence, apart from being one of the longest active constitutions, it is also our proud moment that we see that the same constitution is standing the test of time among many occasions.

The government follows an annual tradition of hosting a Halwa ceremony to mark the final stage of the Union Budget-making process. The Halwa ceremony marks the commencement of the printing of Budget documents. We would shortly hear a new budget and expect the government to run a tight rope of managing the mammoth expectation of citizens and striving ahead to take India to a developed nation ranking. To bring on some facts, the geopolitical uncertainties, global monetary tightening, monetary tightening by central bank, rising government consumption spending are some of the many tricky points which budget should consider and ponder upon. Like in many complex problems, these may not have definitive solutions or propositions, but the solutions are to be traded against each other and needs to be chosen based on the objective to be achieved.

On the Professional front, the results declared by ICAI saw some positive news with decent pass percentage and ICAI new syllabus includes some extremely relevant skill and knowledge to CAs. The need for an updated and abreast was long pending and our mother institute hopefully like always has lived to the expectation.

Let me mention about the new buzz word in the field of technology, ‘ChatGPT’. It is a search engine optimized by Artificial intelligence and has kept some of us worrying on perishability of our jobs. In the curiosity, have also had the opportunity of asking few questions relating to tax and the answers are not perfect but not far from being perfect. The enormous data it can read, understand, and respond even creatively in seconds would keep one thinking that much of the mundane jobs would perish, if not soon but for sure.

35th KSCAA Annual Conference is planned on 17th and 18th of March 2023 at White Petals, Palace grounds. The whole team of KSCAA is excited to invite and welcome you all to the event, the technical committee has put in considerable amount of research to bring in topic of relevance and unheard voices. We are also researching on members who have moved out of profession and worked extensively and would like to show case the same to you.

The most genius known human race and world-renowned scientist Albert Einstein said, “As far as the laws of mathematics refer to reality, they are not certain; and as far as they are certain, they do not refer to reality.”  One reason why mathematics enjoys special esteem, above all other sciences, is that its laws are certain and undisputable, the certain gets us security and dependability. But the intrinsic nature of numbers and mathematics is an inexperienced kid and borrows only from experience of others and data which are prevailing. The certainty of budget is outcome of data which are processed and put forth, the same would extensively differ based on the new circumstances. This must not be perceived that every data which we put across suffer the pain on uncertainty but the data which are prone to be tested extensively with volatile and uncontrollable environment infuses greater threat to credibility of data which in turn making it uncertain. Even at the professional front, frequent disruptions are challenging for professionals, but it leaves little room for SMPs to survive but for updating and upskilling.

Let me wish you all a very Happy Makara Sankranti, a festival celebrated across the country by different names but coinciding on the similar understanding of transition of the Sun from the zodiac of Sagittarius.

Happy Reading!

Yours’ faithfully,

CA. Pramod Srihari