CAREER AS A COMPANY SECRETARY Introduction “The Institute of Company Secretaries of India” (ICSI) is a premier National Professional body established by Act of Parliament to develop and regulate the Profession of Company Secretaries. ICSI imparts training in Company Secretaryship by Distance Learning (by correspondence) enabling students to qualify as Company Secretaries. The Institute provides “Course Material” for all the subjects at the time of Registration. There is also provision for Optional Oral Coaching classes. Career as a Company Secretary is not only prestigious and financially rewarding but also carries with it a high level of job satisfaction. Stages to become a Company Secretary The student who would like to join the Course after 10+2 has to undergo three stages to pursue the Company Secretaries Course i.e. Foundation Programme Executive Programme Professional Programme In addition, the student has to undergo Practical Training for about 15 months which a student may opt to start after passing the Executive Programme. The Student who would like to join the Course after passing the Graduation has to undergo two stages of the Company Secretaryship i.e. Executive Programme Professional Programme Besides, the student has to undergo Practical Training for about 15 months. Foundation Programme which is of eight months duration can be pursued by 10+2 pass students of Arts, Science or Commerce stream. Executive Programme can be pursued by a Graduate of all streams except Fine Arts. Professional Programme can be pursued only after clearing the Executive Programme of CS Course. Training: A Student has to undergo 15 months Management Training in Companies sponsored by the Institute after passing the Executive or Professional Programme or under the guidance of a Company Secretary in Practice. After qualifying Professional Examination and on successful completion of training a candidate is admitted as an Associate Member of the ICSI and can use the letters ACS after his/her name i.e. Associate Company Secretary. Admission to the CS Course is open throughout the year. Examinations are held twice a year in June & December. Cut off dates for admission to CS course: For Foundation Programme 31st March for appearing in December Examination in the same year 30th September for June Examination next year For Executive Programme 28th February for December Exams in the same year 31st August for June Exam next year CS Prospectus can be obtained from any of the offices of the Institute across India and Cost of Prospectus for Foundation Programme : Rs. 200/- by cash payment while Rs. 250/- by Post or courier Cost of Prospectus for the Executive Programme : Rs. 300/- by cash payment while Rs.350/- by Post or courier Payment Option : The payment can be sent to the Headquarters by demand draft drawn in favour of ‘The Institute of Company Secretaries of India’payable at New Delhi OR by cash across the counter from the Headquarters, Regional Offices & a few of the Chapters. Fee Structure for CS Course The fee for CS Foundation Programme is - Rs. 3600/- for Executive Programme - Rs. 7000/- for Commerce Graduates while - Rs. 7750/- for Non Commerce Students ICSI offices across India The ICSI has its Headquarters at ICSI House 22 Institutional Area Lodi Road New Delhi and Regional offices at Mumbai, Kolkata, Chennai & New Delhi and 69 Chapters located in various cities in India. ICSI has 66 Examination Centres scattered all over India including one overseas centre at Dubai. Employment Prospects A qualified company secretary has openings in Employment and as Practicing Independent Professional Companies with a paid up share capital of Rs.2 crores or more are compulsorily required to appoint a whole time Company Secretary who is a Member of ICSI All companies seeking listing on Stock Exchange are required to appoint a whole time company secretary Membership of the Institute is recognized for appointment to superior posts and services under Central Government. Self-Employment/Practising Company Secretaries After obtaining a ‘Certificate of Practice’ from the Institute, Members of the Institute can go in for Independent Practice. Every company having a paid-up share capital of Rs. Ten Lakhs or more but less than Rs. Five Crores is required to engage the services of a Secretary in Whole-Time Practice for issue of Compliance Certificate. Pursuant to Clause 49 of the Listing Agreement, Practising Company Secretaries have been authorized to issue Certificate regarding compliance of conditions of Corporate Governance as stipulated in the Clause. The CS Course is : · recognized by the various Universities for admission to PhD Course · appointment of Lecturers in Commerce & Management SUBJECTS FOR CS There are 4 papers in CS Foundation Programme English and Business Communication Economics and Statistics Financial Accounting Elements of Business Laws and Management There are 6 papers divided into 2 Modules in CS Executive Programme Module I General and Commercial Laws Company Accounts, Cost and Management Accounting Tax Laws Module II Company Law Economic and Labour Laws Securities Laws and Compliances There are 8 papers divided into 4 Modules in CS Professional Programme Module I Company Secretarial Practice Drafting, Appearances and Pleadings Module II Financial, Treasury and Forex Management Corporate Restructuring & Insolvency Module III Strategic Management, Alliances and International Trade Advanced Tax Laws and Practice Module IV Due Diligence and Corporate Compliance Management Governance, Business Ethics and Sustainability ICSI Journals ICSI brings out Chartered Secretary journal for Corporate Professionals & Student Company Secretary & Foundation Programme Bulletin for students. While, the Chartered Secretary Journal can be subscribed by the students at a concessional rate of Rs.300, the other bulletins are sent to the registered students free cost. Placement The Institute and its offices maintain the database of the members / students desirous of employment. The Institute also assist the members and students for Placement. Campus interviews are also conducted for assisting the students to get employment. Vacancies for the post of Company Secretaries received by the Institute are placed on ICSI Website for reference. Role of a Company Secretary Behind Great Corporate Progress there’s a strong backbone: The Company Secretary- By virtue of integrated knowledge of multiple disciplines of law, management, finance and corporate governance, a Company Secretary is the vital link between the company, its: - Board of Directors, - Shareholders, - Government and other Agencies. The Company Secretary is: An in-house legal expert; a compliance officer of the Company. An expert in corporate laws, securities laws & capital market and corporate governance Chief advisor to the board of directors on best practices in corporate governance Responsible for all regulatory compliances of company Corporate planner and strategic manager ICSI “Vision” : “To be a global leader in promoting Good Corporate Governance” ICSI “Mission” : “To develop the high calibre professionals facilitating good Corporate Governance”. For further details visit our website www.icsi.edu and email your queries at: info@icsi.edu

Career as a Chartered Accountant

Chartered accountants are trained to examine, interpret and plan all types of financial transactions. They deal with auditing, analysing, verifying, and interpreting clients’ accounts, advising on taxation, executorship, trusteeship and liquidation. CAs are sought for matters such as the formation, financial structure and liquidation of limited companies.

They are often called upon to carry out investigations to ascertain the financial position of businesses in connection with matters such as a new issue of share capital, the purchase or sale or financing of a business, reconstruction and amalgamations.

Their services are also sought for undertaking investigations with a view to achieving greater efficiency in management or administration, as also finding out reasons for increases or decreases in profits.

Accounting technicians work in a variety of roles alongside chartered accountants. They are involved in the day-to-day practical work of accountancy and finance.

INSTITUTE WATCH

The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949, for the regulation of the profession of chartered accountants in India. Head Office: ICAI Bhawan, Post Box No 7100, Indraprastha Marg, New Delhi-110002.

Southern India regional council of the ICAI: ICAI Bhawan, 122 M G Road, Post Box No 3314, Nungambakkam, Chennai-600034 Bangalore branch of SIRC of the ICAI: ICAI Bhawan, No 16/0, Millers Tank Bed Area, Bangalore-560052. Refer to the website www.icai.org/ for the other addresses.

SKILL

Careful attention to detail, a logical and analytical mind and numerical skills are needed. Good interpersonal skills and management potential are equally important. Accounting technicians must have the ability to work with numbers, be methodical and systematic in their approach with strong computer skills.

EDUCATION & TRAINING

Board of Studies is the primary educational wing of the institute responsible for formulating and implementing the policies and programmes relating to the education of students pursuing CA. It imparts education mainly through distance education mode.

HOW TO BECOME A CA

Common proficiency course is the entry-level course for CA. It comprises four subjects — accounting, mercantile laws, general economics and quantitative aptitude. A student who has passed class X may enrol with the institute for the Common Proficiency Test (CPT). Students may appear for the CPT after appearing in the senior secondary examination (+2 examination)/ equivalent, after completing the specified period of 60 days from the date of registration for CPT with the Board of Studies as on the first day of the month in which examination is to be held. Hence, students registered on or before first of April/ October will be eligible to appear in June/ December examination, as the case may be. CPT is an objective type test of 200 marks (with negative marking) conducted into two sessions of two hours each. The next Common Proficiency Test (paper-pencil mode) will be held on June 19 in 135 cities in India and five cities abroad.

A student who has passed CPT and senior secondary examination (+2 examination)/ equivalent may join the accounting technician course (ATC) or integrated professional competence course (IPCC).

In addition, a student has to successfully complete nine months of study course from the date of registration, undergo 35 hours orientation programme (one-week covering topics, such as personality development, communication skills, office procedure, business environment, general commercial knowledge) and 100 hours of information technology training (ITT) before appearing in Accounting Technician Examination (ATE)/ IPCE (Integrated Professional Competence Exam).

Those who wish to proceed to become chartered accountants have to register as articled assistants for a period of three years, on passing either Group I or both of the Integrated Professional Competence Examination (IPCE)

After this, a student may register for a CA final course and prepare for the CA final examination. While undergoing the CA final course and serving the last one year of articled training, students undergo General Management and Communication Skills (GMCS) course for 15 days. When the three-year period of articleship is over, or while serving the last six months of articled training, students may appear in the final examination. Students who pass the final exam may enrol as members of ICAI and be designated as chartered accountants.

FURTHER EDUCATION

The ICAI also offers post qualification courses and certificate courses for its members. ICAI has also signed a Memorandum of Understanding (MoU) with the Institute of Chartered Accountants of England & Wales (ICAEW). Under this arrangement, existing members of ICAI with two years of post-qualification experience will be eligible for ICAEW membership on passing the ICAEW’s one paper on case study.

PLACEMENTS & PROSPECTS

ICAI offers placement services to its members. New members joining the profession are being absorbed by the corporate sector and particularly service sectors like banking, telecom, finance and security market intermediaries. Those who are ranked high in the merit list of the final exam are offered the most interesting, challenging and well-paid jobs.

Chartered accountants may go on to hold top management positions in industry and commerce. Rapid changes taking place in the economy have further opened up new opportunities for chartered accountants. They are now involved in electronic commerce, performance measurement and risk assessment. In today’s dynamic and challenging business environment, CAs play an invaluable role as management consultants, in assisting business organisations to utilise resources effectively, increase their efficiency and achieving their goals and objectives.

Commerce Education in India...

Commerce is a very popular subject in India these days. Indian economy is growing at a rapid pace and since Services sector constitutes the largest chunk of India's GDP therefore there are ample career opportunities for Commerce graduates.

One of the most obvious career options available to commerce students is to pursue B.Com and thereafter work as Accountants. Educational background in commerce also gives an edge to the students interested in a career in Insurance and stock market.

The more ambitious and brighter ones can opt to become Chartered Accountants, Cost and Work Accountants and Company Secretary. Read for detailed information on nature of work, eligibility requirements, and course content of all the above professional courses.
(updating soon)

Regards
Bharat Zanvar
(M.Com., Licentiate of I.C.S.I., D. T.L., G.D.C.& A., C.A.Final.,)