“These changes, which come into effect this academic year, are aimed at equipping students with the technical and soft skills necessary to meet industry, regulatory and other stakeholder expectations,” said Ashish Garg, president of the ICSI, which is the Ministry of Corporate Affairs.
Who is a company secretary?
Garg shares some insight into the professional role of a corporate secretary and says that they are the torch bearers of corporate governance and compliance. Your role goes beyond corporate law and has a different position than that of an auditor.
“CS acts in a multidisciplinary role with a range of responsibilities including corporate law, securities and capital markets law, auditing (finance, secretarial, forensic), FEMA laws, GST and various other economic and economic areas Trade laws, “says Garg.
Job roles to be filled
Along with the Department of Corporate Affairs, various regulatory agencies such as the Securities and Exchange Board of India (SEBI), the National Securities Depository Limited (NSDL), the Central Depository Services (CDSL) and the Insolvency and Bankruptcy Board of India (IBBI) recognize corporate secretaries the roles they play as key executives, secretarial auditors, compliance officers, insolvency administrators and registered appraisers.
These professionals have also been empowered to appear before the Registrar of Companies (RoCs), the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), the Indian Competition Commission and the Competition Appellate Tribunal, the Securities Appellate Tribunal, the Telecom Settlement disputes and representing the appeals court and various other authorities as well as other court-like bodies and tribunals.
“Opportunities expand every year. Recently, company secretaries were added to the list of arbitrators’ qualifications and experience in the Arbitration and Conciliation Act (Amendment) 2019. Various other declarations have been filed with the authorities concerned in order to arrange recognitions Corporate secretaries for activities under these laws. With these growing opportunities, we expect the professionals to work hard and keep themselves informed, “says Garg.
To equate the course with best modern practice, the institute has undergone a major overhaul, including the introduction of the CSEET (Company Secretary Executive Entrance Test). Previously, enrollment in the CS course was without evaluation.
“Computerized CSEET has been introduced as a qualification test for enrollment in executive programs, taking into account the diverse academic standards of students seeking admission to the course. It will help filter the quality of enrollments and attract deserving students,” says Garg. Students of different backgrounds and backgrounds, with the exception of the fine arts, can enroll in a CS course, which is a three-year course equivalent to a bachelor’s degree. Students can either enroll after XII in the basic course or after completing their studies for the second level, ie the executive course.
Practical and competence-based training
The new training structure for students includes 24 months of training to develop their core competencies and skills, including management and leadership skills. Executive-passing students must complete a one-month Executive Development Program (EDP) to equip them with the necessary software and IT-based skills, as well as 21 months of hands-on training with the Secretary of the Industry / Practicing Company.
This is a role that offers international prospects as compliance personnel are required in all countries. The institute already has overseas centers in Dubai and the United States, and Union Textile Minister Smriti Irani will practically inaugurate the British center today. The institute also plans to expand to Canada, South Africa, Australia and Singapore in 2020. “The centers will help members living in these countries improve their academic acumen, capacity building and better placement opportunities,” says Garg.