Company Secretary (CS) or Corporate Secretary (CS)or Secretary is the same designation in an organization. It is the senior post in a private or public sector’s company. A company secretary works closely with the administrators and directors of the company. CS acts as a bridge between the company/organization and board of directors.
Who is a company secretary?
A Company Secretary is a person who has a senior position in a private sector company or a public sector organization. CS is one of the principal officers of the company.
It is one of the duties of a Company Secretary to ensures that the organization or company complies with all the existing and relevant laws and regulations and to make sure that each and every board member is well informed in advance about their legal responsibilities.
The role of CS starts from the very moment the idea of a company is conceived. CS’s actual function varies depending on the size and type of the company.
A Company Secretary has the following duties
- Complete the Company’s Tax returns
- They are named the representative on legal documents and have to ensure that the company and its directors operate within the law.
- They are also responsible for issuing shares and debentures.
- They are the ones that process applications for managerial appointments, remuneration.
- They also act as an internal legal advisor and representative as and when needed.
How to become a company secretary?
The candidate interested in pursuing a career in CS can approach the course in two ways i.e., CS after 10+2 or CS after Graduation
CS after Intermediate or 10+2
The candidate after finishing his or her intermediate has to go through 3 stages Foundation Program, Executive Program and Professional Program. Students should register themselves with the Institute of Company Secretaries of India(ICSI)board. They should qualify the foundation examination within 3 years of registration.
The foundation program is like an entrance exam which is conducted in the months of March and September. The duration of the Foundation Programme is of eight months which can be pursued after passing intermediate with any stream like Arts, Science or Commerce stream except those with specialization in Fine Arts. After qualifying the Foundation Programme, The candidate has to go through the Executive as well as Professional Programme.
CS after Graduation
The candidate after finishing graduation from any stream except fine arts can pursue CS. It has 2 stages – Executive Program and Professional Program. Candidates after graduation can directly enter into the executive program.
With respect to the notification given by ICSI, the syllabus for the examination has changed. This takes effect from March 2018. There are two modules (groups) in the Executive program. Module -I contains 4 subjects and Module – II contains 4 subjects.
Professional Program is the next level in CS course after qualifying the executive program. There are 9 subjects and 3 modules in total with each module consisting of 3 subjects.
The Revised syllabus for Company Secretary Course is
Module – 1
- Jurisprudence, Interpretation & General Laws
- Company Law
- Setting up of Business Entities and Closure
- Tax Laws
Module – 2
- Corporate & Management Accounting
- Securities Laws & Capital Markets
- Economic, Business and Commercial Laws
- Financial and Strategic Management
- Governance, Risk Management, Compliances and Ethics
- Advanced Tax Laws
- Drafting, Pleadings and Appearances
Module – 2
- Secretarial Audit, Compliance Management and Due Diligence
- Corporate Restructuring, Insolvency, Liquidation & Winding-up
- Resolution of Corporate Disputes, Non-Compliances & Remedies
Module – 3
- Corporate Funding & Listings in Stock Exchanges
- Multidisciplinary Case Studies (The examination for this paper will be open book examination)
- Electives 1 paper out of below 8 papers
- 9.1 Banking – Law & Practice
- 9.2 Insurance– Law & Practice
- 9.3 Intellectual Property Rights– Laws and Practices
- 9.4 Forensic Audit
- 9.5 Direct Tax Law & Practice
- 9.6 Labour Laws & Practice
- 9.7 Valuations & Business Modelling
- 9.8 Insolvency – Law and Practice (The examination for this paper will be open book examination)
A candidate who cleared the Foundation, Executive, Professional examination at one go each with a minimum of 40% marks in each paper and who secured 50% marks in the final total of all subjects is considered to be qualified as a Company Secretary.
The candidate during his or her course period has to complete certain training programs at different levels in the course.
- Student Induction Program(SIP) – This is a 7-day course which the candidate has to complete within 6 months of registration to the executive program
- Executive Development Program(EDP)– It is an 8-day course which is to be completed by the candidate after clearing the Executive Program
- Management Skills Orientation Program(MSOP) – Candidate has to complete this course after qualifying the Professional Program. It is a 15-day course.
For more information regarding training period please visithttps://www.icsi.edu/WebModules/linksofweeks/New%20Training%20Structure.pdf
CS articleship is a compulsory period of Internship where the candidate has to work under a professional Company Secretary to learn about the practical workings of the profession. It is a period of 15 months.
For details in the aspect of articleship and claiming of exemption for articleship please visit the website: Claiming exemption from CS Articleship
A candidate after completion of the Professional program is qualified to be a Company Secretary. The scope for employment has widened to a great extent.
- Become an Independent advisory and support in procedures with regards to licenses, registration, Partnership deeds, Taxes etc.
- He or She can set up their independent CS firm.
- Can become a Financial Advisor for banks in respect to Finance, Accounts, Merchant banking etc
- Many Government companies also employ CS
Company Secretaries are those who are paid handsomely. A New CS can earn up to 3 – 5 lakhs per annum. Depending on the roles a Company Secretary takes up along with the quality of work executed, helps to chart up the pay packages.
With regards to more employment opportunities, notifications regarding examinations and other important things relating to Company Secretary please visit the following websites.
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