Company Secys to be whistle blowers

·         ICSI 40^th national Convention to focus on Corporate Governance

·         Aamby Valley convention to announce epoch making decisions

New Dehhi, October 3, 2012: The Institute of Company Secretaries of India (ICSI) has embarked on a mission to don the mantle of corporate whistle blowers for company secretaries.

Projecting the company secretaries as “leaders of good corporate governance”, ICSI will chart out future course of action at its 40th National Convention  of Company Secretaries to be held from October 4-6, 2012 at Aamby Valley near Pune. 

Mr. Nesar Ahmad, President of ICSI said “ICSI has taken various initiatives towards growth and development of the members, students and the profession by undertaking extensive career orientation, professional development programmes, brand building, extensive research, re-organisation , infrastructure development  as well as  globalisation of profession”.

Announcing the Convention agenda, Shri B Narasimhan, Chairman, Convention Organising Sub-Committee of ICSI said the company secretaries will deliberate on various topics like Economic Volatility and Risk Management, Company Secretaries as Whistle Blowers or Conscience Keepers, Financial Markets - Engine for Economic Growth and Challenges and Opportunities in SME Sector.

“This is part of our newly adopted Vision:  to be global leader in promoting good corporate governance,” he said.

“As many as 1200 delegates including Company Secretaries, CEOs, Directors, Senior Executives and professionals from India and abroad are expected to participate in the Amby Valley Convention”, shared Shri Mahavir Lunawat, Chairman of Western India Regional Council  of ICSI which is hosting the Convention.

The first technical session will be on Economic Volatility and Risk management and will highlight “volatility is variability” which has been going on over the past few years. As the economies are facing volatile conditions, they are operating in a risk filled environment; such risk may be large or small and closed or open. It is not that risk is a bad phenomenon,  often it is considered as efficient measure to growth of the economy but at the same time, risk needs to be managed.

The second session will dwell on the subject of “Company Secretary: Whistle blower or Conscience keeper”. Whistle blowing is about speaking out on malpractice, misconduct, corruption, or mismanagement; whereas conscience is an inner voice viewed as acting as a guide to the righteous behavior.

The line of demarcation is that while whistle blowing pertains to the situation after the wrong is done or about to be done, the conscience of a person stops one from committing the wrong. These are two sides of the boat, where keeping inside the boat is as important as keeping outside.

Mr. Ahmad Added: “With its emphasis on “catch them young,” ICSI will also target development of high caliber professionals which will help facilitate good governance among industry and corporate India”.

Shri S N Ananthasubramanian, Vice President and Chairman of Training & Education Facilities Committee of ICSI remarked “ICSI aims at providing the best training to students, enhancing placement opportunities, creating space for interactions with regulators and industry and provide global leaders”.

Dwelling on the Top ten Goals of The Institute for the period 2011 – 14, Mr. Ahmad said we formulated goals like:

Development of a cadre of competent professionals, Improve infrastructure with special attention on Regional Offices and Chapters, Make ICSI the best institute to deal with, Provide best training to the students, Continuous interaction with regulators and industry, Enhance placement opportunities, Improve visibility of the profession, Increase membership strength, Enhance financial resources and Provide leadership on global map.

Stating that students are the life line of the Institute and the profession, he said “besides strengthening the existing infrastructure for rendering value added services and support to the students, we need to focus our attention on budding Professionals. It is in this direction the Institute has introduced a new syllabus for CS Foundation Programme (Stage I) with effect from 1^st February 2012. The CS Foundation programme consists of four papers viz., Business Environment and Entrepreneurship; Business Management, Ethics and Communication; Business Economics; Fundamentals of Accounting and Auditing.

“Under the new syllabus, Optical Marks Recognition (OMR) based examination (Objective type multiple choice questions) would be conducted for Foundation Programme. The students are eligible to appear in the examination on the basis of self study. The requirement of Coaching Completion Certificate has been discontinued for Foundation Programme Students. Students registration under the new syllabus of Foundation Programme is effective from 1st February, 2012 and the first examination under this new syllabus will be held from December 2012 session of CS examinations,” he said.

The Council of the Institute has constituted the Board of Studies towards further development of syllabus. The Board  has also finalised draft syllabus for Executive Programme (stage II) and professional Programme (stage III) examinations, based on the views received from stakeholders on the exposure draft.

The Board of Studies will also benchmark and review the syllabus regularly to meet the expectations of the trade and industry. This Board is also to look after other courses to be conducted by ICSI for its members as a part of capacity building exercise.  He said that, with a view to push forward the interests of the members both in employment and in practice, the Institute has taken Capacity Building Initiatives so that they remain updated and are adequately equipped to provide exacting solutions to the businesses in the prevailing competitive and contestable environment. 

About The Institute of Company Secretaries of India:

The Institute of Company Secretaries of India (ICSI) is constituted under an Act of Parliament i.e. the Company Secretaries Act, 1980. ICSI is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India. ICSI awards the certificate of bestowing the designation of Company Secretary(CS) to a candidate qualifying for the membership of the Institute. It was in 1960 that the Company Law Board started a course in Company Secretaryship leading to the award of Government Diploma in Company Secretaryship. As the number of students taking up the Company Secretaryship course grew, the Government promoted on 4th October, 1968, Institute of Company Secretaries of India under Section 25 of the Companies Act, 1956 for taking over from the Government the conduct of Company Secretaryship examination. The ICSI has since been converted into a statutory body w.e.f. 1.1.1981 under the Company Secretaries Act, 1980. ICSI has on its rolls over 29,500 members including over 4,500 members holding certificate of the practice. The number of current students is over 2,30,000.

The Institute has its headquarters at New Delhi, Four Regional Councils at New Delhi, Chennai, Kolkata and Mumbai and 68 Chapters spread all over India.