A company secretary’s role starts from the very moment when the idea of formation of a Company is conceived. Although the idea of formation of a company Secretary (CS) may vary from company to company the knowledge and training acquired by company secretaries make them versatile to carry out various functions in Finance, Accounts, Legal Administration and Personnel areas in addition to their own secretarial duties and responsibilities.
Professional studies towards becoming a company secretary can commence right after completion of the plus two level of education through the foundation course. Foundation Course students are required to pass the Foundation Examination within 3 years from the day of admission. Candidates who have passed the Foundation examination or is exempted there from can seek registration as a student for the intermediate course. A registered student is admitted to the Final Course on passing the intermediate examination.
- Foundation course
Duration of Foundation Course is 8 months. Students are required to pass the Foundation examination within 3 years from the date of their admission. Candidates who have passed senior secondary (10+2) can apply for foundation course. Registration for foundation course is open through out the year. The exams for the foundation course are held in December and June. To appear for the exams in December candidate should apply for the exam before the previous march. Similarly to appear for the June exam, candidate should apply before the previous September. i.e the Registration for each examination should be done at least nine months before the month in which the examination is held.
Subjects
- English and Business Communication (FCEBC)
- Basic Economics and Business Environment (FCBE-BE)
- Financial Accounting (FCFA)
- Elements of Business Laws and Management (FERBAM)
- Information Systems and Quantitative Techniques (FCISQT)
- Intermediate course
Candidates who have passed the foundation course, and are not less than 17 years of age can apply for intermediate course. Graduates, post-graduates (excluding fine arts) and those who have passed final exam of ICWAI or ICAI
Subjects
Group I
- General and Commercial Laws (IGCL)
- Company Accounts and Cost & Management Accounting (ICA&CMA)
- Tax Laws (ITL)
Group II
- Company Law (ICL)
- Economic, Labour and Industrial Laws (IELIL)
- Securities Laws and Regulation of Financial Markets (ISLRFM)
A candidate can get exemption for some individual papers on the basis of qualification
- Company Accounts and Cost & Management Accounting (ICA&CMA) - Master of Corporate Secretaryship/M.Com./M.B.A (with Accountancy as one of the subjects at B.A (C.S)/B.Com. level with full paper in Cost Accounting/Management Accounting/Financial Management at Master of Corporate Secretaryship/M.Com./M.B.A. level and must have secured fifty per cent marks in the subject concerned of a recognised university is exempted from this subject.
- General and Commercial Laws (IGCL) - A degree in Law or Master of Corporate Secretaryship is exempted from this subject.
- Tax Laws(ITL) - Master of Corporate Secretaryship is exempted from this subject.
A Candidate who has passed the Final examination of the ICWAI is eligible to seek exemption from the following papers of Intermediate examination under a reciprocal arrangement existing at present between the two Institutes- Company Accounts and Cost & Management Accounting (ICA&CMA), Tax Laws(ITL)in the intermediate level. Financial, Treasury and Forex Management, Direct and Indirect Taxation - Law and Practice in the final level.
- Final course
A student is admitted to the Final examination only after a minimum period of nine months after passing intermediate examination. The examinations are conducted twice a year in June and December. Last date for enrollment applications for the final examination is 25th March (with late fee of Rs. 100, 9th April) for June examination and 25th September (with late fee of Rs. 100, 10th October) for December examination.
Subjects:
Group-I
- Advanced Company Law and Practice
- Secretarial Practice relating to Economic Laws and Drafting
- Secretarial Management and Systems Audit
Group-II
- Financial, Treasury and Forex Management
- Corporate Restructuring – Law and Practice
- Banking and Insurance Law and Practice
Group-III
- World Trade Organization International Trade, Joint Ventures and Foreign Collaborations
- Direct and Indirect Taxation Law and Practice
- Human Resource Management and Industrial Relations
Qualifying Marks
A candidate is declared to have passed the Final examination, if he/she secures at one sitting a minimum of 40% marks in each paper and 50% marks in the aggregate of all subjects.
A candidate is declared to have passed the Final examination, if he/she secures at one sitting a minimum of 40% marks in each paper and 50% marks in the aggregate of all subjects.
Training
The CS course is complete after students have undergone 16 months practical and modular training in order to apprise the students with the functioning of the Corporate Sector and to create a cadre of professional Company Secretaries having a sound theoretical base and practical exposure to serve trade and industry effectively, both as a part of the management team as well as independent practicing professionals.
Job Prospects
Those who complete the final examination for Company Secretary would have good job prospects in the corporate sector of both public and private companies. They can also be employed by banks, financial institutions and stock exchanges, and as specialists in the fields of finance, law, accounts and merchant banking. Many companies recruit young professionals to work in the CS department of the organization and move to a senior position with experience.
Those who want to join the government need to qualify in the UPSC exam for jobs in Grade I to IV in the Accounts branch of the Central Government Law Service. Company Secretaries are also eligible for recruitment on the panel of bodies such as the Bureau of Public Enterprises, and state government financial institutions.
A qualified Company Secretary can also set up practice as an independent company secretary, after obtaining a ‘Certificate of practice’ from the Institute. A CS in practice is authorized to issue certificates and attest documents under the Companies Act 1956, the SEBI Act and the Exim Policy.
Those with an inclination for academics can go in for teaching as lecturers in universities.
The globalization of the Indian industry and the advent of multinationals has been a boon for Company Secretaries. The responsibilities of Company Secretaries have been considerably extended and their status is now that of the chief functionaries of the corporate sector. They are indispensable to the efficient management of the corporate sector, particularly in cases of mergers and acquisitions, joint ventures and so on.
Moreover, with a growing legal regulatory framework, in order to ensure the protection of the interests of employees, consumers, creditors, government financial institutions, and the public at large, the role of company secretaries has become established as that of conscience-keepers of their respective companies and custodians of public interest.
Moreover, an experienced Company Secretary, by virtue of expertise and academic background is suited to become a member of the board or the governing body of any organization. Many senior members have become chairmen, managing directors, and whole-time directors in several reputed companies.
If you have a sound business sense, an interest in commerce and accounts, logical ability with a flair for numbers and good inter-personal skills this is a good career to pursue. Other attributes would include basic common sense, and an ability to negotiate with people at all levels in an organization.
Those who want to join the government need to qualify in the UPSC exam for jobs in Grade I to IV in the Accounts branch of the Central Government Law Service. Company Secretaries are also eligible for recruitment on the panel of bodies such as the Bureau of Public Enterprises, and state government financial institutions.
A qualified Company Secretary can also set up practice as an independent company secretary, after obtaining a ‘Certificate of practice’ from the Institute. A CS in practice is authorized to issue certificates and attest documents under the Companies Act 1956, the SEBI Act and the Exim Policy.
Those with an inclination for academics can go in for teaching as lecturers in universities.
The globalization of the Indian industry and the advent of multinationals has been a boon for Company Secretaries. The responsibilities of Company Secretaries have been considerably extended and their status is now that of the chief functionaries of the corporate sector. They are indispensable to the efficient management of the corporate sector, particularly in cases of mergers and acquisitions, joint ventures and so on.
Moreover, with a growing legal regulatory framework, in order to ensure the protection of the interests of employees, consumers, creditors, government financial institutions, and the public at large, the role of company secretaries has become established as that of conscience-keepers of their respective companies and custodians of public interest.
Moreover, an experienced Company Secretary, by virtue of expertise and academic background is suited to become a member of the board or the governing body of any organization. Many senior members have become chairmen, managing directors, and whole-time directors in several reputed companies.
If you have a sound business sense, an interest in commerce and accounts, logical ability with a flair for numbers and good inter-personal skills this is a good career to pursue. Other attributes would include basic common sense, and an ability to negotiate with people at all levels in an organization.
