Institute of Company Secretaries of India: A Comprehensive Overview
Introduction
The Institute of Company Secretaries of India (ICSI) is a professional body that regulates the profession of company secretaries in India. Established in 1968, it has played a pivotal role in shaping the governance landscape of Indian corporates. Its mission is to develop and maintain professional standards for company secretaries, promote good corporate governance practices, and protect the interests of stakeholders.
Membership and Examinations
ICSI offers various levels of membership, including Associate Company Secretary (ACS) and Fellow Member (FCS). To become an ACS, candidates must pass the ICSI Foundation, Executive, and Professional examinations. FCS is the highest level of membership, requiring additional experience and qualifications.
ICSI Examinations Details:
- Foundation Exam: 4 papers, 3 hours each, objective type
- Executive Exam: 9 papers over 3 modules, 3 hours each
- Professional Exam: 8 papers over 4 modules, 3 hours each
Functions and Services
ICSI's primary functions include:
- Setting educational standards for company secretaries
- Conducting examinations and granting qualifications
- Promoting ethical practices and corporate governance
- Providing continuing professional education and training
- Representing the interests of company secretaries
ICSI also offers various services to its members, such as:
- Continuing Professional Education (CPE) courses
- Research and publications on corporate governance
- Placement assistance and career counseling
- Access to a network of professionals
Roles and Responsibilities of Company Secretaries
Company secretaries play a crucial role in corporate governance. Their responsibilities include:
- Advising the board of directors on legal and regulatory matters
- Ensuring compliance with company laws and regulations
- Maintaining statutory registers and records
- Arranging and conducting board and shareholder meetings
- Attesting and filing various documents with regulatory authorities
Conclusion
The Institute of Company Secretaries of India (ICSI) is a highly respected professional body that has contributed significantly to the development of corporate governance in India. Its members play a vital role in ensuring compliance, transparency, and accountability in Indian corporates.
