Who is a Company Secretary?
February 09,2020

Who is a Company Secretary?

A career as a Company Secretary is not only financially rewarding but also carries with it a high level of job satisfaction. A Company Secretary plays an important role in the governance of an organization–be it a private or public sector company or an NGO. 

 

Governance describes the way that an organization is directed and controlled. This includes a company’s strategy and decision making both long-term and short-term. CS professionals ensure that all activities undertaken to achieve its aims are in compliance with legal, ethical and regulatory requirements.

 

The Company Secretary plays the role of a moderator between the company and the board of director and their shareholders, the government and other regulatory bodies. Thus, Company secretaries need to have a broad skill set encompassing corporate law, finance, governance, strategy, and corporate secretarial practice. 

 

The Company Secretary is:

  • An in-house legal expert and 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 the company
  • Corporate planner and strategic manager for the company

 

CS course and its Features

Company Secretaryship is a professional program that molds its students to advise on the legal aspects of the business and the financial institution. A CS professional of a company provides guidance and advice to the Directors and Chairman on how to exercise their responsibilities in key areas. The 15-month training program imbibes real-world experience during the time of the course completion. Thus enabling CS graduates to be work-ready from the get-go.

The Institute of Company Secretaries of India (ICSI) is the premier National Professional body in the country. It was established by Act of Parliament to develop and regulate the profession of Company Secretaries. ICSI predominantly imparts training in Company Secretaryship by correspondence, enabling students to qualify as Company Secretaries.

Oral classes available at coaching centers of excellence enables students to imbibe a better understanding of the company secretaryship course. Proper guidance and well-versed teachers help students achieve their dreams of being a CS. The independency that the professional degree offers is a great attraction to many a student.

The path to becoming a CS Professional

The path to become a Company Secretary is straightforward and simple. To become a CS, you need to complete these 3 stages of learning i.e., Foundation, Executive, and Professional. 

  1. CS Foundation - A student who has completed their 10+2 from a recognized board is eligible for this exam.
  2. CS Executive - A student who has successfully cleared the CS Foundation becomes eligible to attempt the CS Executive Examination.
  3. CS Professional - A student who has completed their CS Executive program are eligible to attempt the CS Professional examination.
    • CS Foundation course is open to anyone with a 10+2 qualification. People with a related degree or who are law or finance professionals may be exempt from some modules, out of the eight modules.
      CS Foundation classes at institutions like Lakshya CA campus help students cope with the entry into the subject topics.
    • Students with a graduation degree will have two stages in the CS course: Executive and Professional Programs.
    • Graduates of any discipline other than Fine Arts can attempt the Executive Program.
    • The Professional Program is open only after clearing the Executive Program.

CS Excecutive classes at institutions like Lakshya CA campus help students cope with the entry into the subject topics.

    • For both routes, students need to undergo practical training for 12-15 months at a company, sponsored by the ICSI or under the guidance of a practicing company secretary.
    • Upon clearing the Professional Examination and completing the training period, he/she becomes an Associate Member of the ICSI and prefix the term ACS  (Associate Company Secretary) after their name.
    • Admissions to the course are open throughout the year, and they hold corresponding examinations in June and December.

Career scope for a Company Secretary

The career scope for a Company Secretary is on the rise today more than ever. Every company with a paid-up share capital of Rs.5 crore or more is required to appoint a whole-time Company Secretary under section 383A of Companies Act,1956 compulsorily. Positions are available in private and public sector concerns and also with the Department of Company Affairs, stock exchanges, company law boards, and government departments. 

Professionals can even practice on their own, and there are opportunities available in countries abroad as well. Freshers can earn up to 3-5 lakh rupees per annum, highlighting the worth of a CS professional in a business institution. Experienced and accomplished Company Secretaries are roped in for roles like Chief Compliance Officer,  Executive Director, Company Secretary, Vice President, Legal Officer Finance Officer, etc.

Large corporate organizations offer attractive packages ranging from Rs. 25 lakhs to 1 crore per annum as Company Secretaries play important roles as decision-makers and enablers in legal matters and more. A salary package always depends on a person’s capability, experience, and skills and can vary from one sector to another.

With so many opportunities, so fewer obstacles and a bright path forward it becomes easier than ever to take this path. It would be worthwhile to join a CS Course in a reputed institution like Lakshya CA campus for a bright future.

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