Career as Company Secretary – ICSI CS Role, Need, Salary, Abroad Opportunities

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Career as Company Secretary explained in this article. You can also know some more details like Role, Need, Salary, Abroad Opportunities for  The Institute of Company Secretaries of India‘s (ICSI) Company Secretary. This article helps you to find out the answer for “What is the Career after 12th“. This is like a career guidance for the students who are interested in managing a company and other corporate areas. In this article, we’ve explained the Role of a Company Secretary, Career As Company Secretary, Functions of the Company Secretary As per the Companies Act, Employment prospects of CS profession in employment & in practice, Highlights of Company Secretary Course in India and Abroad Opportunities for CS.

Company Secretary also known as a Chartered Secretary in abroad

Career As Company Secretary

Following are the some interesting working areas of a Company Secretary.

  • A CS is An in-house legal expert; a compliance officer of the Company.
  • Company Secretary Responsible for all regulatory compliances of company
  • He can act as Corporate planner and strategic manager
  • Company Secretary is An expert in corporate laws, securities laws, corporate governance and capital market.
  • A company should have a Company Secretary as a chief advisor to the board of directors on best practices in corporate governance.

Role of a Company Secretary

A Company Secretary renders his/her services in the following areas:

  1. Corporate Laws Advisory and Representation Services
  2. Corporate Governance and Secretarial Services
  3. Management Services
  4. Financial Market Services

Corporate Governance and Secretarial Services

  • Secretarial/ Compliance Audit and certification Services
  • Corporate Secretarial Services
  • Corporate Governance Services

Corporate Laws Advisory and Representation Services

  • Arbitration & Conciliation Services
  • Corporate Laws Advisory Services
  • Representation Services

Financial Market Services

  • Takeover Code, Insider trading, Mergers & Amalgamation
  • Public Issue, listing and Securities Management
  • Securities Compliance and Certification Services
  • International Trade & WTO Services
  • Finance & Accounting Services
  • Taxation Services

Management Services

  • Corporate Communication and Public Relations
  • Human Resources Management
  • General/ Strategic Management
  • Information Technology

Functions of the Company Secretary As per the Companies Act

Functions of the company secretary have been codified in the Companies Act, which include:-

  • Provide to the directors of the company, collectively and individually, such guidance as they may require, with regard to their duties, responsibilities and powers which is mentioned in the Companies Act.
  • Ensure that the company complies with the applicable secretarial standards as per the Companies Act
  • Report to the Board about compliance with the provisions of the Companies Act, the rules made there under and other laws applicable to the company;
  • Assist and advise the Board in ensuring good corporate governance and in complying with the corporate governance requirements and best practices ;
  • other specified functions

Employment Prospects of CS Profession

As mentioned about Career As Company Secretary, a CS has a lot of employment options as given below.

A qualified Company Secretary has openings in Employment and as Practicing Independent Professional

Company Secretary in Employment

  • A CS has been recognized as Key Managerial Personnel along with the Manager/Managing Office, Chief Executive Officer (CEO), whole-time director and Chief Financial Officer.
  • Company Secretary is required to be mandatorily appointed in every company as may be prescribed in Companies Act,
  • As per the Companies Act, 2014, Every listed company and every other public company having a paid-up share capital of 10 crore rupees or more shall have whole-time key managerial personnel.
  • Also A company (other than a company covered under rule 8) which has a paid up share capital of 5 crore rupees or more shall have a whole-time company secretary as per the Companies Act, 2014.

Company Secretary in Practice

Some of the important areas of recognition for Company Secretary in Practice include:

  • Professional assistance to Company Liquidator
  • Qualifications of Tribunal
  • Adjudication of penalties
  • Secretarial Audit
  • Pre-certification of e-forms
  • Duty to report fraud
  • Appointment as Administrator
  • Company Liquidators

Company Secretaries in Practice also render services in the following areas:

  1. Legal, Secretarial and Corporate Governance
  2. Corporate Restructuring
  3. Foreign Collaborations and Joint Ventures
  4. Arbitration and Conciliation
  5. Financial Management
  6. Project Planning
  7. Capital Market and Investor Relations
  8. Due Diligence
  9. Corporate Advisory Services
  10. SEBI Act, SCRA and regulations made there under Depositories Act, 1996
  11. Exim Policy etc.

Company Secretary Course Highlights

  1. 10+2 pass or equivalent / Graduate can join
  2. Good career option for girls also.
  3. Opportunity to pursue B.Com with Major in Corporate Affairs and Administration and M.Com in Business Policy and Corporate Governance from IGNOU.
  4. Cost Effective
  5. Opportunities across various sectors at all locations.
  6. Opportunities Abroad MOU with ICSA, London
  7. No Entry Barrier opportunity for every student
  8. Distance Learning any where in the world
  9. 24×7 study through e-learning
  10. Flexibility in the schedules Registration valid for 3 to 5 years.
  11. Excellent career opportunities for CS professional
  12. Position of Power and Prestige
  13. Offers Self Employment and Job Opportunities
  14. Direct Access to Top Management / Board Room
  15. Good remuneration and growth opportunities

ABROAD OPPORTUNITIES FOR CS

Many Company Secretaries are already working in various countries like the Australia,Canada, US, UK, New Zealand, Middle-east, Africa, Singapore, Malaysia, Thailand, etc. With their research and legal bent of mind, their employers have recognized their CS professional skill sets.

After the globalization of services through WTO and GATS, the field is opening in various countries for practicing Company Secretaries as well.

India is entering into bilateral Comprehensive Economic Cooperation Agreements with countries like Singapore, Malaysia, Thailand, and Mauritius etc. These agreements recognize Company Secretaries for free movement of professionals across borders. The Institute of Company Secretaries of India (ICSI) has entered into an MoU with the Institute of Chartered Secretaries and Administrators, UK. This MoU recognizes CS (Company Secretaries) of both the countries on certain conditions.

The process of comprehensive economic cooperation and the process of globalization that India is initiating has also set in motion mutual recognition agreements between the ICSI and Institutes governing the profession in various other countries. This is opening up the world to Company Secretaries (CS).

Career as Company Secretary in London : Memorandum of Understanding with ICSA, London

The ICSI and the Institute of Chartered Secretaries and Administrators (ICSA), UK after satisfying the high standards of exam and appreciating each others activities in promoting the best practices in Company Secretaries and professional education & administration signed an MOU which provides for reciprocal exemptions on mutual basis.

Members of ICSI are exempted from passing 14 out of 17 papers and are required to pass the following three core papers to acquire the membership of ICSA:

  • Corporate Law
  • Corporate Secretaries
  • Corporate Administration

Members of the Institute of Company Secretaries of India, in good standing for a period of two years, can avail of the benefit of the MOU.

Memorandum of Understanding with CISI, London : 

The Institute of Company Secretaries of India (ICSI) and Chartered Institute for Secrutites and Investment(CISI), London, have entered into a Memorandum of Understanding, in terms of which ICSI inter alia will offer certain units of CISI qualifications in capital markets, commodity markets, fund management, wealth management and investment banking as electives to both its students & members. This will provide them an exposure to the Securities & Investment industry apart from an internationally recognised qualification.

  • The Chartered Institute for Secrutites and Investment has offered certain recognitions to ICSI students who have passed the Executive Programme, which will facilitate their obtaining the International Investment Administration Qualification (IAQ).
  • The Chartered Institute for Secrutites and Investment (CISI) has also recognised membership of ICSI for automatic membership of CISI at the associate level (ACSI). Senior practitioners of ICSI in Securities and Investment industry would be entitled to apply for Membership (MCSI).

Career as CS in Malaysia : MOU with Malaysian Institute of Chartered Secretaries and Administrators (MAISCSA)

The Institute of Company Secretaries of India (ICSI) has signed an MoU with Malaysian Institute of Chartered Secretaries and Administrators (MAICSA). The MOU will help students and members in attending the training programmes, exchange of course material and undertake research projects.

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