CS (Company Secretaries) are the key players in the corporate governance, compliance and strategic decisions. As professionals, they are the ones who understand complicated legal frameworks, which are the key to a company functioning smoothly.
Let’s dive into the frequently asked questions about CS:
1. What Is the Eligibility?
Ans – Foundation Programme Eligibility:
The candidates who are seeking admission to the foundation course under the Company Secretary (C.S) scheme must qualify their 10+2 exams.
They must have completed the 12th grade from a recognized educational institute or equivalent, with a minimum of 50% aggregate marks.
Executive Programme Eligibility:
For the CS course at the Executive level, the applicant should have completed their class 10+2 in any discipline except fine arts from a recognized institution.
After passing the Foundation Programme, they can sign up for the Executive Programme.
Professional Programme Eligibility:
Only the Professional Programme can be pursued after the completion of the Executive Programme of the CS Course.
Candidates who have already passed the Executive level are eligible to continue to the Professional level.
Practical Training: Do hands-on training for 15 months.
Membership: After finishing all the stages become ICSI member.
2. What is the Function of a Company Secretary?
Ans- As per the Companies Act, 2013, appointment of a CS is mandatory for certain categories of companies. These include:
Public Companies
Companies with the paid-up share capital of Rs.10 Crore or more
Companies that have a turnover of Rs.50 Crore or more
Nevertheless, companies that are not required by law may also enjoy a great deal of gain from the appointment of CS. They bring their skills to the table which help companies to have good corporate governance, avoid penalties for non-compliance and build trust with the stakeholders.
3. What are the Main Duties of a Company Secretary?
Ans- The role of the company secretary is to ensure that all legal and regulatory requirements are fulfilled by the company.
Their primary responsibilities include:
The coordination of the meetings for the Board of Directors, Management Committee, and AGMs.
As a part of legal and regulatory compliance, corporate governance requirements, and resolutions, we will make sure they are observed.
Conducting conversations with Directors to discuss regulatory changes that impact their business.
The review of compliance performance.
The planning and proper storage of the company’s documents.
4. Is Being Company Secretary a good job?
Ans – Absolutely! Being a company secretary is a great opportunity for someone to develop a professional and challenging career.
As a CS, you:
Abide legal requirements implicitly.
Provide guidance on board structure and composition, compliance, and ethics issues.
Can alter the appearance of the organization: its way of doing business, its standards, and the way it is perceived by others.
5. What are the Secretarial Services’ Advantages:
Ans- Benefits of Secretarial Services are:
Effortless Annual Compliance: Company secretaries, in reality, are the ones doing the accurate work such as getting the annual confirmation statements and returns filed.
That is to say this ensures that your company is compliant with the Companies act rules and regulations.
Legal Advisory:
The state government needs to make sure that the legal interests are protected. CSs offer legal advice, draw contracts, and confirm that the organization behaves in the legal framework.
Corporate Governance:
By CSs, the board can have quality meetings, and they also keep records and give input to the board on the decision-making process.
Risk Management:
They discover the threats and invent tactics to resolve them.
Strategic Insights:
CSs are the key players in the development of environmentally-friendly and sustainable long-term development plans for the community.
6. How far can the corporate secretarial services go?
Ans – The Scope of Corporate Secretarial Services are:
Formation and Dissolution:
CSs handle the company establishment, mergers and acquisitions, and restructuring in the process.
The objective of the legal department is to ensure that these complex processes are in line with the law.
Legal Advisory:
CSs do legal opinion, contract drafting, and help with regulatory issues.
Corporate Governance:
They are the backbone of the organization as they keep records, organize meetings, and review board performance.
Risk Mitigation:
CSs are responsible for risk management as they assess and mitigate legal and operational risks.
Ethical Practices:
They ensure transparency, accountability, and ethical standards.
7. What is the Difference Between a Company Secretary and a Chartered Accountant (CA)?
Ans – Although they are both important for the business, their areas of expertise are different. CS professionals deal with corporate governance, legal compliance, and board-related matters. CAs, however, are professionals with expertise in accounting, auditing, taxation, and financial management.
8. In what Fields can CSs be Employed?
Ans – CSs find employment in various sectors:
Corporate Organizations: In finance, compliance, and governance positions.
Consulting Firms: Advisory services.
Government Agencies: Participating in public finance management.
Educational Institutes: Teaching and research.
Nonprofit Organizations: Making sure that compliance and ethical practices are in place.
9. Can a Company Secretary Hold the Position of a Director as Well?
Ans – Yes, a CS can serve as a director of a company. Nevertheless, they cannot be both directors and whole-time CS at the same time, if the requirement is to have a whole-time CS. This provides a distinction of functions and gives rise to good corporate governance.
10. What is the median salary of a Company Secretary (CS) in India?
Ans- The average CS salary in India can be different based on the years of experience. It can be anywhere between ₹2.5 lakhs to over ₹1.9 crore a year. On the other hand, the real average is between ₹6 lakhs and ₹8 lakhs per annum.
Final thoughts:
Company Secretaries are key collaborators for companies that want to handle the difficulties of corporate governance and legal compliance. Through their experience companies can work ethically, efficiently, and with less risk.
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