Dear Friends,

Greetings!

The first quarter of every year is always a very hectic one with the annual conference of the IIA India as well as those of different chapters lined up one after another.

The annual conference of the IIA India, held at Chennai was a grand success with over 350 delegates attending it. Kudos to the organizers for successfully organizing such an event on such a large scale.

The annual conference of the Bombay Chapter was just round the corner when the conference at Chennai was being held. Incidentally, this too was a grand success with over 150 delegates attending it. The agenda of the conference was liked by all, the quality of speakers was, as usual, top class. I would like to thank, especially the Sr. V.P. of the Chapter Mr. Burzin Dubhash for crafting our an innovating agenda, V.P. Mr. Manoj Agarwal for the support provided by him and Mr. Nikhil Bagaitkar, who takes care of the Communications Committee for the excellent publicity given to the event. I am also thankful to all the members of the BOG without whose support, this event would not have been possible.

Soon after the Annual Conference, the Chapter was approached by the officials from the Ministry of Finance, Government of Bhutan with a request to conduct an extensive training program in Construction Industry for their 20 member team of hard core internal auditors. Rising up to the challenge, the Bombay Chapter held this program between March 14 and 24, 2017 at a hotel in Mumbai. This was, perhaps the first of its kind program held in the history of the Chapter – I stand to be corrected though. While organizing this program, the camaraderie between the internal audit community was clearly noticeable as different organizations offered their help and support for the program with just one request letter from me.

The training program consisted of seven days of class-room training on topics like understanding tender documents, project management, project risk management, mobilization, material – procurement to payment as well as measurement records, physical verification, variances, wastages etc., sub-contracts and labor, billing – non-BOQ items, adherence to terms and conditions of the contract, retention, advances, quality control, technical audit, fraud and forensic, dealing with constraints, demobilization, QAIP Standard 1300 etc.

I would like to keep on record my sincere thanks to M. P. Chitale & Co., Ashoka Buildcon, Shapoorji Pallonji, Ambuja Cement, ANB Solutions, Jacobs, Afcons Infrastructure, Larsen & Toubro, Goldratt Consulting, Advocate Dhiraj Mirajkar and our own speakers like Mr. Nagesh Pinge, Mr. Manoj Agarwal, Mr. Burzin Dubhash, Mr. Hariharan Venkataraman, Mr. Nikhil Bagaitkar for the wholehearted support extended by them.

The delegates from Bhutan gave a very high opinion about this program and are now keen on having IIA presence in their country.

I am sure all my colleagues – working in the industry as well as those into consulting are busy completing their audits and planning new audits during the next financial year. Good luck and lots of interesting work to all of you.

  • Sincerely Yours
  • Sunil Gaitonde
  • President – IIA Bombay Chapter
  • The Institute of Internal Auditors, Bombay Chapter