Secretarial Audit

What You Need to Know About Being a Company secretarial in India?

Students company secretary in India to secure managerial roles across top MNCs that operate globally. However, we recommend you read this article to gather a defined outlook on this subject

CS or Company secretarial is a reputed designation within a business organisation. Senior personnel in a public or private sector firm get hired for this job position.

The students who practice as company secretaries in India will be required to play the role of a professional entrusted with all legal business activities. They will hold the records, provide consultation, file tax returns and determine a business’s legal stance. 

Company secretaries behave as a group of directors’ liaisons and sometimes provide valuable guidance to the administrative personnel. With the increasing scope of business strategy now, the job responsibilities of a CS have expanded much more.

The corporate governance of an organisation is firmly established by its corporate secretary. He is responsible for ensuring that the actions resulting from the outcomes of the board meetings stay compliant with regulatory and statutory declarations. To become a CS, you will also need to network with the company’s shareholders from time to time. This has to be done to maintain transparency regarding decision-making; these meetings’ minutes are recorded for tackling future issues. 

The primary goal of a CS is to see whether all the company’s registered shareholders are getting fair treatment or not and to make sure that the dividend is being paid as promised. The structure of annual records gets determined after considering all these factors.

Different Phases that you must overcome to practice company secretary in India

If you have passed your 10+2 examination from ICSE Board or any equivalent level and desire to become a company secretary, then you must pass through three stages before realising your chosen career; these stages include:

  • Foundation course
  • Executive Program
  • Professional level Program

To secure admission in the foundation programs, one must pass their 10+2 level examination pursuing any stream, i.e., Science, Commerce or Arts.

Graduates from any subject background are eligible to undergo the executive CS program.

The professional-level program is accessible only to those candidates who have successfully cleared the Executive level examination of the Corporate Secretary course.

The foundation program stretches for eight months while the next level, i.e., the executive program, continues for nine months. To secure the final certification, an individual studies for 15 months. This sums up the 3-year course that can be considered equivalent to a UG degree. 

ICSE, or the Institute of Corporate Secretaries, conducts this course nationwide. It is a professional degree that revolves around the conceptualisation of commercial environment, management, entrepreneurship, communication, economics and accounting, ethic and so on. 

The intermediate or executive stage teaches you about company laws, commercial regulations, security policies and how to practice audits.

In the ultimate stage of the CS course, the candidate learns about company secretarial behaviours, treasury and financial management, etc. In the following section, we will discuss the detailed curriculum so you receive a clear vision.

Admission

Aspirants who have graduated already are directly taken admission to the executive program. In India, students are admitted to colleges based on the merit list of an entrance test. Other institutions provide seats for this course through national-level qualifying examinations. 

Some reputed colleges across India that offer CS courses are as follows:

  • ICSI or the Institute of Corporate Secretaries in India
  • IGNOU
  • NIIT, Delhi
  • Jawaharlal Nehru Technological University, Hyderabad
  • Aligarh Muslim University

Once the course ends, students are eligible for the following training curriculum:

  • Seven days of students’ induction sessions
  • Computer Training Program, this includes 70 hours of course-specific technical knowledge
  • Eight days of the Executive Development Program (EDP)
  • 25 hours of Professional Development Program (PDP)
  • Industrial training in an established agency or organisation
  • 15 days of MSOP. The purpose is to ingrain vital managerial skills to make the candidate fit for company secretary.
  • Fifteen months of an articleship training program.

On-Demand Skills for a Company Secretary

The course ranks higher on a difficulty scale; the candidate must be dedicated and willing to put on extra effort in terms of self-study to enrich his technical knowledge. 

The Company Secretary is expected to be well versed in taxation, accounting, auditing and similar financial activities. 

The strengths of written and verbal communication should be excellent; also, the individual must showcase decent managerial and organisational skills. 

Knowing about good negotiation techniques can add an advantage to the candidate’s portfolio. Lastly, there should be efficient commitment and honesty towards to employer.

Career Prospects of a Company Secretary in India

This topic has to be one of the major concerns among students considering company secretarial service in India. When discussing this field, future job openings appear to be plenty. 

The corporate secretary is a prestigious and highly acclaimed job profile. A CS has the potential to elevate himself as one of the future directors of a company. The growth in a career depends a lot on individual communication skills, problem-solving attitude, leadership techniques, and the fact that an individual can cope with various departments of the organisation. 

As the CS keeps on gaining experience throughout his career, they gather the potential to become the next managing director of an organisation in less time. The sectors of operation can be stock exchange, law board, company affairs division or several other governmental departments.

Designations Offered

The designations or job positions held by a CS student throughout their career include the below-mentioned recognitions:

  • Legal advisor
  • Company Registrar
  • Assistant to the Directors’ Board
  • Company Policymaker
  • Principal Secretary of a Corporate entity
  • Chief Administrative Officer
  • Managing Director
  • Corporate Planner
  • Chairman
  • Contents Coordinator
  • Administrative Secretary
  • Capital Market Investor

Key employment sectors for budding Corporate Secretaries include:

  • Financial Institutions
  • Corporate Law Boards
  • Banks
  • Stock exchanges
  • Secretary Ship Firms (CS Consultancy Firms)

Do you aware of the Must Read Topic: 5 Important things to know about a Company Secretary

Estimated Salary

Attractive salary packages are offered to CS practitioners. The exact figure is determined by evaluating the candidate’s capability or, in some cases, salary disbursements depending on company policies. Market regulations also play a crucial role in this case. A fresher in India earns somewhere around 3-5 LPA. If someone looks for jobs abroad, they will earn even more.

Conclusion

CS examinations are held two times a year; one of the qualifying tests is conducted in June, while the other takes place in December. Students in India can answer the question paper either in Hindi or English. Due to enormous job prospects, the course has been gaining more popularity among Indian students in recent years. 

We at Vakilsearch look forward to covering the latest updates on these kinds of national-level competitive examinations and vividly presenting them so that you can make the right career decision assessing your strengths. To know more about related examinations, read our other articles as well.

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