The professional course of Company Secretary (CS) is set for a major revision by December-end to bring it in line with the slew of amendments effected by the central government to the Companies Act, 2013.

"We are waiting for the government to notify the rules for the amended Companies Act (notified in September 2013). The rules are expected to be released in the next few months. Our revised syllabus for the CS programme will be in place by December," ICSI secretary M S Sahoo said on Friday. "We have already prepared the revised syllabus for the new study plan," he added.

 

The ICSI, established by an Act of Parliament in 1980, is the country's premier regulatory body for the CS profession as well as education. Top ICSI office-bearers, including newly elected president R Sridharan, were in the city for an introductory meeting with their western region counterparts at the Yashwantrao Chavan Academy of Development Administration. Both Sridharan and Sahoo interacted with reporters on the sidelines of the meeting.

Apart from the impending syllabus revision, Sridharan announced the ICSI plan to introduce computer based examination (CBE) for its foundation-level course offered to Std XII pass students, and an open book examination (OBE) system in elective subjects in module III of the CS professional course, the highest level of study, from June 1 this year.

The CS professional course offers five elective subjects in module III, viz. banking law and practice; capital, commodity and money market; insurance law and practice; intellectual property rights law and practice; and international business laws and practices. A student has to opt for only one of these five subjects as per his/her interest.

"The OBE will allow candidates to use their study material, class notes, textbooks, bare acts and other relevant papers while attempting their answers, as per the requirement of questions. The emphasis would be on assessing the students' understanding of the subject, application of mind rather than the ability to memorise large text or rules of law," said Sridharan.

"The OBE is also aimed at developing skills of creative thinking, problem solving and decision making at professional level course and to test analytical ability, understanding of facts, concepts and mastery to apply the same," he said.

"The amended Companies Act has recognized CS as a key managerial personnel along with the chief executive officer, managing director, full-time director and chief financial officer. While there exists a huge demand-supply gap for CS professionals in the country, the scope for this profession has immensely widened due to the continuing emergence of new companies across all sectors of economy including the services sector," said Sridharan.

The ICSI efforts are focused on promoting CS studies in a big way, besides undertaking a capacity building exercise among the existing professionals to meet the requirements of the amended company law, he added.

Senior ICSI office-bearers, including chief executive Sutanu Sinha, vice-president Vikas Khare, western region chairperson Ragini Choksi and Pune chapter chairperson Shilpa Dixit, were present. (Times of India)