This is a fantastic write up. Agree with every word. I donot mean to be negative, but would not refrain from constructive criticism. We are 'cost' focused and therefore the industry has taken a narrow view . I had suggested long ago that we must go in for name change not as Cost & Management Accountant but EITHER 'Certified' ,instead of 'Cost' OR just have any other name but the word 'COST'. Corporates are confused because they think that 'cost management' is a sub domain of CA's and therefore the ICWAI professionals are redundant. I am giving you first hand validation having been in corporate finance departments of large to small companies for two decades. I believe we have done very well in the past two years in terms of enhancing the brand and pull of ICWAI to the next higher level but we are still in the infant stage as compared to sister organisation and definitely there is need and scope to do much more.
As you mentioned, marketing the profession is even poor today. I had recommended that the industry captains and bigwigs should be presented with our capabilities - it may have been done to some extent but not enough.
Besides, we will have to ensure that each student passing out should have better communication and presentation skills as they are our brand ambassadors.
I for sure, believe that Management accountants are the backbone of any organisation and with my experience in service, manufacturing and retail sectors, any board of directors / shareholders are not so bothered about compliance or GAAP but management analysis , ability to get information to decide on next steps for the organisation and this can only be done by management accountants. I believe and would project the profession as - 'management accountants' have expertise in GAAP and compliance and have a specialization in management accounting that brings value added benefits to shareholders.
I would also like to mention the lackadaisical attitude of staff & office bearers in the HQ. I have written innumerable letters and reminders to get my ICWAI ID card generated - had sent to them all details required but could never get either the card or the response in the last 12 months. This shows zero accountability, laziness and complete lack of sensitivity towards members and the profession. Definitely , there needs to be a rejig and change in mindset and the way the organisation is being managed.
The present website is good but agree that there is enough scope to improve. Frequent updation of records, member and student services, 24X7 chat access, bring in better quality of journal (quality of paper, articles & interesting articles , chat with members at the helm, discussion and interview sessions with experts on domains like investment banking, banking, direct and indirect tax, securities, M&A. I think the list could be huge depending upon how best we can visualize and expand our forward looking ambitions. We cannot keep having dreams to be numero uno but fail to take action and become complacent. We need a CEO for the Institute who has a contract with specified KPI's to enhance the capability and image of the institute to the pinnacle.
If we need to be the best institution in the country, what are the ten things we need to do quickly that are low hanging fruits, is what we must aim for while we are simultaneously working for the bigger issues of ICWAI with the government.
Like in the past , I have a passion for ICWAI and have many more suggestions to enhance the ICWAI brand to world class but would need some one at the helm to agree and take action.
But in the meanwhile, if some of these suggestions that have been mentioned by Vinayak and me are acted upon, there would be a great positive shift from what we are presently.
I thank the members who have patiently read my message.
Thanks and wishing you all a very happy and successful new year.