Blog posts tagged with 'regulatory compliance'

Explore the importance of Company Secretaries in corporate governance. Learn about their role in compliance, advisory, and sustainability. Discover career options and government job opportunities in this fascinating profession.

Hey there! So you are curious about CS as a career option? Well, let me tell you it is definitely worth considering, especially if you are a person from a commerce background. Well, It is worth noting that the cost involved in pursuing the course is minimal and can be pursued by any student belonging to any class of the society. Apart from that there is neither any AGE barrier nor any CASTE reservations which make it more attractive as a career option. 

 

It provides two types of career options as a CS. One is as a CS in Employment, another one is CS as a Practitioner.

 

Now Let's talk about CS in Employment

 

• CS is a highly respectable job in India coupled with legal responsibility. As a CS in Employment, you'll be responsible for ensuring that a company operates within legal and regulatory frameworks. You'll be the go-to person for the Board of Directors, advising them on governance, compliance, and ethics.

• A CS is defined as a KEY MANAGERIAL PERSON under the Companies Act, 2013

• All Companies with a paid up share capital of Rs. 10 crore or more are compulsorily required to appoint a whole-time Company Secretary under section 203 of Companies Act, 2013. 

• All Listed Companies in India are required to appoint CS as a Compliance officer, which is again a senior position in any organisation.

 

CS in Practice/Self employed

 

• A CS in Practice is recognised to issue compliance certificates and attest documents under: 

1. The  Companies Act, 2013

2. SEBI Act,SCRA , and

3. Depositories Act, 2013

• He is required to certify Annual Return of every company.

• He is needed to Certify multiple E forms of Companies Act, 2013 that are to be filed regularly with ROC.

• He is authorised under the Listing Regulations, to issue Corporate Governance Certificate.

• He is also authorised to issue compliance certificate and so on.

 

DOES COMPANY SECRETARY HAVE SCOPE IN FUTURE?

 

In Corporate world, Future is all about good Corporate Governance within and outside the organisation. Gone are the days, when the role of CS was only confined to secretarial compliances and maintaining statutory books. As businesses continue to grow and expand globally, the need for skilled professionals who can navigate complex legal and regulatory landscapes will only increase. Company Secretaries will be in high demand to ensure that companies adhere to ever-changing laws and regulations, both domestically and internationally.

 

Here are some aspects that may define the scope of a Company Secretary in the future:

 

1. Corporate Governance: The importance of corporate governance is likely to continue growing, with increased emphasis on ethical practices, transparency, and accountability. Company Secretaries will play a vital role in ensuring compliance with governance standards.

2. Regulatory Compliance: As regulatory frameworks become more complex and dynamic, Company Secretaries will need to stay updated with the latest legal and regulatory requirements. 

3. Strategic Advisory: CS can contribute significantly  strategic decision making processes. They possess a holistic understanding of the organization's operations and governance practices. 

4. Stakeholder Management: Effective communication and relationship management with stakeholders will be a critical aspect of the CS role in the future. 

5. Sustainability and ESG: Environmental, Social, and Governance (ESG) considerations are gaining prominence in the corporate world. Company Secretaries will likely be involved in developing and implementing sustainability strategies.

CS SCOPE AND SALARY

 

Well, the scope of CS is wide ranging. It starts with Secretarial Compliance to act as Governance Professional. I will try to write about it in a brief manner:

1. Secretarial Audit : Secretarial Audit is entirely and exclusively done by a qualified CS.

2. Filling of various documents/returns as required under the provisions of various Corporate Laws.

3. Acting as a Compliance Officer for Listed entities.

4. Acting as a bridge between the Board of the company and the outsiders.

5. Representing the Company before Various Authorities.

6. Ensuring that the correct procedures have been followed that would result in the correctness, authenticity and comprehensiveness of the information, statements and reports filed by the listed entity under these regulations

7. Providing Certificate regarding Transfer of Securities to listed entities

8. Issuing certificate regarding compliance of conditions of Corporate Governance. 

9. Issuing a certificate regarding Issuance of securities to more than 49 and up to 200 investors, and the refund procedure as prescribed by SEBI has been duly complied with.

10. Practicing Company Secretary who is a Valuer is recognised under the following Regulations:

1. SEBI (Real Estate Investment Trusts) Regulations, 2014

2. The SEBI (Infrastructure Investment Trusts) Regulations, 2014

 

SALARY STRUCTURE

 

• The salary structure of a CS varies depending on factors such as the size of the company, the location, and the experience and qualifications of the individual.

• Generally, a fresher CS  can expect to earn an average annual salary of around Rs. 4-5 lakhs p.a 

• For a mid-level CS with around 5-10 years of experience, the average annual salary can range from Rs. 10- 24 lakhs p.a.

• At a senior level, with more than 10 years of experience, the salary of a CS can go up to Rs. 50 lakhs p.a or even higher, depending on the company's size and industry.

 

CAREER OPTIONS AFTER COMPLETING CS

 

After completing CS, there are several career options available to you. Here are some of the common paths you can consider:

 

1. Corporate Secretary: Many companies, especially larger organizations, require the expertise of a CS to ensure compliance with legal and regulatory requirements. 

 

2. Compliance Officer: With your knowledge of laws and regulations, you can pursue a career as a Compliance Officer. In this role, you would ensure that an organization adheres to legal and regulatory frameworks, conducts internal audits, develops compliance policies, and provides training to employees on compliance matters.

 

3. Legal Advisor: As a CS , you have a solid foundation in corporate and commercial law. You can leverage this knowledge to work as a Legal Advisor or Legal Consultant, providing legal guidance to individuals or organizations on various legal matters such as contracts, intellectual property employment law, or corporate restructuring.

 

4. Risk Manager: Your understanding of corporate governance and legal compliance positions you well for a career in risk management. As a Risk Manager, you would identify and assess potential risks to an organization operations, develop risk mitigation strategies, and ensure compliance with relevant regulations to minimize potential liabilities

 

5. Corporate Governance Prfessional: You can offer your expertise as a Corporate Governance Consultant to help organizations establish effective corporate governance structures, policies, and practices.

 

6. Entrepreneurship: You can start your own consultancy firm or business. You can offer services like company registration legal compliance, and corporate secretarial assistance to SMEs & startups.

 

7. Academic and Teaching: If you have a passion for sharing knowledge you can become a lecturer, professor, or researcher in the field of law, corporate governance, or business administration, imparting your expertise to aspiring professionals.