CS Subject, Qualification & Corresponding Exemption
An Introduction to Company Secretary Course
According to the Institute of Company Secretaries of India (ICSI), “With the enactment of Companies Act, 2013, the demand for CS has increased considerably”.
It is the prime duty of the Company Secretary to ensure that there are no defaults happening in the company. He has to ensure that any dealing should not disrupt the smooth functioning of the company. Transparency and Accountability are other two important points which he has to take into consideration.
The Company Secretary Course is offered by the Institute of Company Secretaries of India. It is basically a distance learning course, although very popular among the commerce students. It is a professional course which is not only a reputed one rather is very lucrative in terms of salary.
- The different stages of examination includes the following-
- Company Secretary Eligibility
- Company Secretary Courses and Specialisation
- Syllabus for CSEET
- Executive Programme [8papers] ( New Syllabus – w.e.f. 1st Mar 2018 )
- Professional Program (New Syllabus – w.e.f. 1st September 2018 )
- Paper Wise Exemption on the basis of Higher Qualifications
- Corresponding Exemptions
Students who are interested to pursue this course has to undergo different stages of examinations along with some practical training sessions.
The different stages of examination includes the following-
- CSEET – An Entrance Examination
- Professional Programme
- Management Training
As all of us understand that now a days, there’s a great emphasis on adherence to norms of efficient corporate governance, hence the demand of Company Secretaries have also risen especially after enactment of Company Act 2013. The role of Company Secretary revolves around the following domains-
- Structure of the company
- Management of the company
- Administration of the company
- Provisions related to conduct of affairs of company
Company Secretary Eligibility
As already mentioned above that there are 3 stages under the whole Company Secretary Course, so there can be entry by two options.
Option 1- Through the entrance test of CSEET
Option 2- In the Executive Stage
But in any case there is no provision of direct entry in the Professional Stage of Company Secretary course.
| Option 1- In the CSEET Stage Entrance Stage | Option 2- In the Executive Stage |
| Candidates applying for Company Secretary Course after 10+2(Arts, Science, Commerce) should register for the Foundation Programme. | Candidates applying for CS Course after graduation(all streams except fine arts) can directly join the Executive Programme and continue with the Professional Programme after completion. |
As already explained above that candidates failing to clear the CSEET programme and executive programme after 10+2 or executive programme after graduation cannot be considered as eligible for Professional Programme.
Company Secretary Courses and Specialisation
- There are 8 papers divided into 2 Modules in CS Executive Programme (wef. 01.03.2018)
There are 9 papers divided into 3 Modules in CS Professional Programme
The course of Company Secretary is a professional course. The three stages of the course , Foundation, Executive and Professional have different subjects.
Syllabus for CSEET
Syllabus
| Business Communication | Essentials of Good EnglishCommunicationBusiness Correspondence |
| Legal Aptitude and Logical Reasoning | Constitution of IndiaIndian Contract Act & Law of TortsElements of Company Secretaries LegislationElements of Company lawLogical ReasoningVerbal ReasoningNon verbal Reasoning |
| Economic and Business Environment | Basics of Demand and SupplyForms of Market CompetitionNational Income Accounting and related conceptsIndian Union BudgetIndian Financial MarketsIndian EconomyIndian EconomyBusiness EnvironmentKey Government Institutions |
| Current Affairs and Presentation and Communication Skills | Current Affairs of National and International SignificancePresentation skillsWritten Communication SkillsOral Communication Skills |
Executive Programme [8papers] ( New Syllabus – w.e.f. 1st Mar 2018 )
| Executive Programme [8papers] ( New Syllabus – w.e.f. 1st Mar 2018 ) |
Module I (4papers) 1. JURISPRUDENCE, INTERPRETATION & GENERAL LAWS 2. COMPANY LAW 3. SETTING UP OF BUSINESS ENTITIES AND CLOSURE 4. TAX LAWS Module II (4 papers) 5. CORPORATE & MANAGEMENT ACCOUNTING 6.SECURITIES LAWS & CAPITAL MARKETS 7.ECONOMIC, BUSINESS AND COMMERCIAL LAWS 8. FINANCIAL AND STRATEGIC MANAGEMENT |
Professional Program (New Syllabus – w.e.f. 1st September 2018 )
| MODULE 1 | MODULE 2 | MODULE 3 | Electives 1 out of below 5 subjects (THE EXAMINATION FOR THIS PAPER WILL BE OPEN BOOK EXAMINATION) |
| 1. Governance, Risk Management, Compliances And Ethics 2. Advanced Tax Laws 3. Drafting, Pleadings And Appearances | 4. Secretarial Audit 5. Corporate Restructuring 6. Resolution Of Corporate Disputes | 7. Corporate Funding & Listings In Stock Exchanges 8. Multidisciplinary Case Studies | 9.1. Banking Law And Practice 9.2. Insurance Law And Practice 9.3. Intellectual Property Rights– Laws And Practices 9.4. Forensic Audit 9.5. Direct Tax Law & Practice 9.6 Labour Laws & Practice 9.7 Valuations & Business Modelling 9.8 Insolvency – Law And Practice |
Paper Wise Exemption on the basis of Higher Qualifications
Case I- Passed LLB (with 50% of more marks in the aggregate)
Case II- Passed the Final Course of The Institute of Cost Accountants of India
Let us see all these aspects in detail
CASE I
| Basis of Exemption/ Qualification | Exemptions available in paper(s) covered under Executive Stage | Executive available in paper(s) covered under Professional Programme Stage |
| Passed LL.B. (Three Years Degree Course / or Five Years integrated Law Course)from a recognized University / Institute either constituted under an Act of Parliament or approved by AICTE/AIU and having secured 50% or more marks in the aggregate.(Qualification code-047) | Industrial, Labour & General Laws(Paper Code – 327 of Module – 2) | No paper-wise exemptions available for this qualification inany paper covered under Professional Programme Stage. |
CASE II
| Basis of Exemption/ Qualification | Exemptions available in paper(s) covered under Executive Stage | Executive available in paper(s) covered under Professional Programme Stage |
| Passed Final Course of TheInstitute of Cost Accountantsof India(Qualification code-044) | 1. Cost and Management Accounting(Paper Code – 322 of Module – 1) 2. Tax Laws and Practice(Paper Code – 324 of Module – 1) 3. Company Accounts and Auditing Practices(Paper Code – 325 of Module – 2) | 1. Advanced Company Law and Practice (Paper Code – 331 of Module -1) 2. Financial, Treasury and Forex Management(Paper Code – 335 of Module -2) 3. Advanced Tax Laws and Practice (Paper Code – 337 of Module -3) |
No exemption shall be given on the basis of any other higher qualification effective from 1st December, 2013. However, Paper-wise exemptions granted on the basis of other higher qualifications prior to 1st December, 2013 will remain valid.
In this regard, some important guidelines have been released by the Institute of Company Secretaries of India which are required to be followed by the students applying for exemption subject wise, as we mentioned above-
- Application for Exemption-Students are required to apply for paper wise exemption in desired subject through ‘Online Services’ on website http://smash.icsi.in and for procedure please follow the link
Download PDF: https://smash.icsi.in/Documents/Qualification_Based_Subject_ExemptionandCancellation_Student.pdf
- Fees for claiming exemption- Fee for paper wise exemption is Rs.1000/- (per subject) and is to be paid through ‘Online Services’ using Credit/Debit cards or Net banking.
- Mode of Application-Students who have been granted exemption in Executive Programme Stage on the basis of having passed Final Course of The Institute of Cost Accountants of India are required to submit their request for exemptions afresh for papers covered under the Professional Programme Stage & the same are not granted automatically.
- Documentation required-Students need to upload scanned attested copies of mark sheets of all parts/semesters of LLB degree or scanned attested copies of final pass certificate of ICAI(cost)
- Date of Application-Last date of for submission of requests for exemption, complete in all respects, is 9thApril for June Session of examinations and 10th October for December session of Examinations. Requests, if any, received after the said cut-off dates will be considered for the purpose of subsequent sessions of examinations only. For example, if a student requests for exemption(s) after 10 th October, 2017, even if he/she is eligible for such exemption(s), the same will NOT be considered for the purpose of December, 2017 Session of Examinations.
- Cancellation of Exemptions- Students may request for cancellation of paper-wise exemption(s), granted to them on the basis of higher qualifications and/ or the 60% Marks Criteria, through the on-line facility available at https://smash.icsi.in after logging into their respective online account 15 days before commencement of examination.
- General Guidelines to be followed- Since the grant / cancellation of exemption(s) have a bearing on the computation of examination results, the students are strictly advised to follow the guidelines in letter and spirit to avoid complications at the time of appearing in the examinations and/or declaration of results.
Before reading further check out these posts:
Corresponding Exemptions
| Executive Programme | |
| Existing Syllabus 2012 | Paper Wise Exemption under New Syllabus 2017 |
| Module I | |
| Company Law | Module 1; Paper 2- Company Law |
| Cost and Management Accounting | Module 2, Paper 5- Corporate and Management Accounting |
| Economic and Commercial Laws | Module 2; Paper 7- Economic, Business and Commercial Laws |
| Tax Laws and Practice | Module 1; Paper 4- Tax Laws |
| Module II | |
| Company Accounts and Auditing Practices | Module 2, Paper 5- Corporate and Management Accounting |
| Capital Markets and Securities Laws | Module 2; Paper 6- Securities Laws & Capital Markets |
| Industrial, Labour and General Laws | Module 1; Paper 1- Jurisprudence, Interpretation and General Laws |
| Professional Programme | |
| Module I | |
| Advanced Company Law and Practice | Module 2; Paper 6 – Resolution of Corporate Disputes, Non- Compliances &Remedies |
| Secretarial Audit, Compliance Management and Due Diligence | Module 2; Paper 4 – Secretarial Audit, Compliance Manage- ment and Due Diligence |
| Corporate Restructuring, Valuation and Insolvency | Module 2; Paper 5 – Corporate Restructuring, Insolvency, Liqui- dations &Winding-up |
| Module II | |
| Information Technology and Systems Audit | No Exemption |
| Financial, Treasury and Forex Management | Module-3, Paper- 7- Corporate Funding & Listings in Stock Exchanges |
| Ethics, Governance and Sustainability | Module 1; Paper 1- Governance, Risk Management, Compliances and Ethics |
| Module III | |
| Advanced Tax Laws and Practice | Module 1; Paper 2 – Advanced Tax Laws |
| Drafting, Appearances and Pleadings | Module 1; Paper 3 – Drafting, Pleadings and Appearances |
| Elective Subjects | Module 3; Paper 9 – Elective paper |
