A company secretary is a qualified professional who is responsible for ensuring the legal and regulatory compliance of a company, as well as advising the board of directors on corporate governance and best practices. The main role of a Company Secretary is to ensure that the company operates within the law and maintains high standards of corporate governance. They act as the mediator between the Board of Directors and other stakeholders, including shareholders, government regulatory bodies, and customers.
To become a Company Secretary, one needs to complete the CS program from the Institute of Company Secretaries of India (ICSI).
The CS program can be divided into four parts, namely:
- Foundation Programme (Now replaced with CS Executive Entrance Test or CSEET),
- Executive Program:
- Professional Program:
- Training:
The minimum eligibility requirement for the CS Foundation program is 10+2, while for the Executive and Professional programs, the candidate must have a graduate degree in any discipline.
Steps to become a company secretary
Step 1. Register with the Institute of Company Secretaries of India (ICSI). ICSI is the only recognized professional body in India to develop and regulate the profession of company secretaries. You can register online or offline by filling up the application form and paying the registration fee. You will also need to submit your educational certificates and other documents as per the eligibility criteria.
Step 2. Clear the Company Secretary Executive Entrance Test (CSEET). CSEET is a mandatory online test that assesses your aptitude, reasoning, communication skills, and legal knowledge. You can appear for CSEET after completing your 12th class from a recognized board or institution, or after graduating from any stream with 50% or more marks, or after post-graduating from any stream. You need to score at least 50% marks in aggregate and 40% marks in each paper to qualify CSEET.
Step 3. Enroll for the Executive Level of Company Secretary course. After clearing CSEET, you can enroll for the Executive Level of Company Secretary course, which consists of eight papers divided into two modules. You can choose to study through self-study mode or attend coaching classes offered by ICSI or its authorized centers. You will also need to undergo a mandatory 75 hours of Executive Development Program (EDP) and 8 days of e-MSOP (Executive level) before appearing for the exams.
Step 4. Clear the Executive Level exams. You can appear for one or both modules at a time, but you need to clear both modules within three years of registration. You need to score at least 40% marks in each paper and 50% marks in aggregate to pass the exams.
Step 5. Enroll for the Professional Level of Company Secretary course. After clearing the Executive Level exams, you can enroll for the Professional Level of Company Secretary course, which consists of nine papers divided into three modules. You can choose to study through self-study mode or attend coaching classes offered by ICSI or its authorized centers. You will also need to undergo a mandatory 15 days of Academic Program (AP) and 25 hours of Professional Development Program (PDP) before appearing for the exams.
Step 6. Clear the Professional Level exams. You can appear for one or more modules at a time, but you need to clear all three modules within five years of passing the Executive Level exams. You need to score at least 40% marks in each paper and 50% marks in aggregate to pass the exams.
Step 7. Complete the practical training requirements. Apart from clearing the theoretical exams, you also need to complete three years of practical training under a practicing company secretary or a company registered with ICSI for imparting training. The practical training can be done either before or after or during the course of study, but you need to complete at least one year of training after passing the Professional Level exams.
Step 8. Become a member of ICSI. After completing all the above steps, you can apply for membership of ICSI by filling up the application form and paying the admission fee and annual subscription fee. You will also need to submit your training completion certificate and other documents as per the requirements. Once your membership is approved, you will be awarded a certificate of practice and a membership number.
Step 9. Start your career as a company secretary. As a member of ICSI, you can either practice as an independent professional or work as an employee in a company or an organization that requires a company secretary.
Congratulations! You have successfully completed your journey to become a company secretary in India.
Career Prospects after becoming a Company Secretary
Becoming a Company Secretary opens up a wide range of career opportunities in various industries. Some of the career prospects are:
- Company Secretary: The most obvious career option after becoming a Company Secretary is to work as one. A company secretary ensures that a company complies with regulatory and legal requirements.
- Legal Advisor: Many Company Secretaries go on to become Legal Advisors. They advise companies on legal matters and help them to comply with legal and regulatory requirements.
- Compliance Officer: Compliance officers are responsible for ensuring that companies comply with all applicable laws and regulations. As a Company Secretary, one can take up the role of a compliance officer.
- Corporate Planner: Corporate Planners are responsible for developing and implementing long-term plans for companies. They work closely with the senior management team to identify new opportunities and to develop strategies for growth.
- Governance and Risk Manager: Company Secretaries can also work as Governance and Risk Managers. They are responsible for identifying and managing risks to a company, and for ensuring that the company’s governance processes are effective.
- Financial Analyst: Company Secretaries can also take up the role of a Financial Analyst. They analyze financial data and provide insights and recommendations to companies on how to improve their financial performance.
- Entrepreneurship: Company Secretaries can also become entrepreneurs by starting their own consultancy firms or by providing advisory services to companies.
These are just a few of the career prospects that one can explore after becoming a Company Secretary. The skills and knowledge acquired during the course of study can be applied in a variety of fields, making it a versatile and dynamic career option.