Some one posted this question, i too have this question in my mind pls. who are in this filed come and advise me
Hi,
I have read about the CS profession in the newspaper, and am contemplating joining it. Since I know no one in the corporate world, I asked a new CA in my town about CS. He is discouraging me from CS saying there are no specific skill-sets apart from law that is learned, and that the job profile at entry level will be very bad. How far is this true? I know it takes a lot of effort and commitment to clear CS exams. But since I do not know any CS, I am thrown into confusion. Please keep the query open so that more than one person can reply to this query.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 08 February 2010
FUNCTIONS OF COMPANY SECRETARY
A Company Secretary is :
• An expert in Company Law, Corporate and
Securities Laws
• Avital link between the company and its:
- Board of Directors
- Shareholders
- Government and Regulatory Authorities
• A conscience seeker of the company
• A compliance officer of the company
• Acorporate planner and strategic manager • An in house legal counsel
EMPLOYMENT PROSPECTS
A qualified Company Secretary has openings in Employment and can also practice as an Independent Professional.
Company Secretary in Employment:
• Companies with a paid up share capital of Rs. 5
crore or more are compulsorily required to appoint a
whole-time Company Secretary under section 383A
of CompaniesAct, 1956.
• All companies seeking listing on Stock Exchange
are required to appoint a whole-time Company
Secretary.
• Membership of the Institute is recognised for
appointment to superior posts and services under
Central Government.
• Membership of the Institute is recognised for
recruitment to Grade I to Grade IV in the Accounts
Branch of the Indian Company Law Service.
SELF EMPLOYMENT (PRACTICE)
• After obtaining a 'Certificate of Practice' from the
Institute, Members of the Institute can go for
independent practice.
• Every company not required to employ a whole-time
secretary and having a paid-up share capital of Rs. 10 Lakh or more, is required to engage the
services of a Secretary in Whole-time Practice for issue of compliance certificate.
Pursuant to clause 49 of the Listing Agreement,
Practising Company Secretaries have been
authorized to issue Certificate regarding compliance
of conditions of Corporate Governance as stipulated in the Clause.
Company Secretary as an independent professional
• A Company Secretary in Practice is recognised to
issue compliance certificates and attest documents
under:
- Companies Act, 1956
- SEBI Act, SCRA and Regulations made there
under
- Depositories Act, 1996
- Exim Policy
Company Secretaries in Practice also render
following services:
- Legal, Secretarial and Corporate Governance
Corporate Restructuring
Foreign Collaborations and Joint Ventures
Arbitration and Conciliation
Project Financing
Financial Management
Project Planning
- Capital Market and Investor Relations
- Due Diligence
- Corporate Advisory Services.
ROLE OF A COMPANY SECRETARY
A Company Secretary being multi-disciplinary professional renders services in the following areas: Corporate Governance and Secretarial Services : • Corporate Governance Services
• Corporate Secretarial Services
• Secretarial/Compliance Audit and Certification
Services.
Corporate Laws Advisory and Representation Services :
• Corporate Laws Advisory Services
• Representation Services
• Arbitration and Conciliation Services. Financial Market Services :
• Public Issue, Listing and Securities Management • Takeover Code, Insider Trading, Mergers,
Acquisitions, and Joint Ventures
• Securities Compliance and Certification Services • Finance and Accounting Services
• Taxation Services
• International Trade and WTO Services. Management Services :
• General/Strategic Management
• Corporate Communication and Public Relations • Human Resources Management
• Information Technology.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 08 February 2010
No need to worry at all as the scope of CS is quite good for knowledgeable professionals with professional attitude.
Ashish...Varun...I fully agree with Ankur's view. The confusion arousing to youe mind because you are discussing the things with CAs only. I think there is a lot of scope for CS. In industry also CSs are at some very good positions.
Your decision in this regard should be based upon youe interest. If you have interest in law & compliances then CS is gud. But if you interest in Tax / Account then go for CA degree. No need to worry abt the scopt n all
1 Like
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 11 February 2010
Ashish...Varun...I fully agree with Ankur's view. The confusion arousing to youe mind because you are discussing the things with CAs only. I think there is a lot of scope for CS. In industry also CSs are at some very good positions.
Your decision in this regard should be based upon youe interest. If you have interest in law & compliances then CS is gud. But if you interest in Tax / Account then go for CA degree. No need to worry abt the scopt n all
Totally agree with your perfect observation.
1 Like
Varun
(ACA CS Final Pass B.Com(H))
(270 Points)
Replied 11 February 2010
Look, Sec 383A Of the Companies Act provides that a company which has paid-up capital of 5 crore or more, has to employ a company secretary in full time employment. Failure to comply with this provision attracts penalty of Rs 500/- EVERYDAY.
PLEASE NOTE UNDER SEC 226(1) OF COMPANIES ACT 1956 ... STATED THAT ONLY A CHARTERED ACCOUNTANT WITHIN THE MEANING OF CHARTERED ACCOUNTANTS ACT, 1949 CAN BE APPOINTED AS AUDITORS OF ANY COMPANY PUBLIC OR PRIVATE....
SO PLEASE DON'T CONFUSE STUDENTS....
BOTH CA AND CS ARE OWESOME COURSES IF ANY BODY DO IT WITH FULL CONFIDENCE....
EVERYTIME PEOPLE ASK DIFFERENCE BETWEEN CA/CS/CWA AND OTHER MBA FINANCE ETC ....SO
DIFFERENCE BETWEEN THESE PROFESSIONAL COURSES AND NORMAL COURSES IS THEY ADMIT AND PASS THE STUDENT ON THE BASIS OF HIS/HER PERFORMANCE NOT ON BASIS OF CASTE...
EACH CANDIDATE IS EQUALLY TREATED IN TERMS OF PASSING CRITERIA THAT IS 50% MARKS... NO SUPPORTS IN MARKS FOR SC/ST/OBC STUDENTS ........THATS WHY SURVEY OF INDIA SAYS THAT 90% OF CA/CS/CWA ARE GENRAL CANDIDATES .....
IF ANY STUDENT WANTS TO JOIN ANY OF THESE COURSES PLEASE MAKE SURE THAT HE/SHE IS READY TO LEARN WITH INTEGRETY.....THERE IS NO SHORTCUT FOR PASSING THESE EXAM......IT DOESNT MATTERS HOW MUCH TIME YOU TAKE IN COMPLETING THE COURSE WHAT MATTERS IS WHAT YOU LEARNED FROM THE COURSE....
EVEN SOME TIME IN INTERVIEW THEY ASK THE BASIC COMPANY DEFINITION...... AND LET ME TELL YOU ONLY FEW OF THE CANDIDATE COULD ANSWER PROPERLY..... SO DO WITH FULL CONCENTRATION....BEST OF LUCK......
IF ANYBODY HAVE ANY OTHER QUERY WRITE YOUR QUESTION HERE AND WILL GIVE YOU THE ANSWER...
One more thing to this discussion, CS may also work in Finance & Accounts Dept. There is nothing in the law that forbids from doin so. Moreover in practice also CS may take Audit Assignements, amy be of any kind and appoint CA for only certification purposes. As Ankur Sir have mentioned there is lot of scope to both CS and PCS, the only thing is that students should keep faith on the system of the Institute and the profession, and most importantly on himself/herself.
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