The Institute of Company Secretaries of India (ICSI) is a professional body established under an act of the Indian Parliament, the Company Secretaries Act, 1980. The ICSI is responsible for the regulation and development of the profession of company secretaries in India.
The main function of the ICSI is to develop and regulate the profession of company secretaries in India. It sets standards for the education, training, and practice of company secretaries, and conducts examinations to test the knowledge and skills of those who wish to become company secretaries. The ICSI also provides continuing professional education to its members, and disciplines members who violate its code of conduct.
The ICSI offers two levels of examination for those who wish to become company secretaries: the Foundation Programme and the Executive Programme. Candidates who pass the Foundation Programme are eligible to enroll in the Executive Programme, and upon successful completion of the Executive Programme, they can register as a company secretary with the ICSI.
The Company Secretaries Act, 1980, states that no person can practice or hold himself out as a company secretary unless he is a member of the ICSI. Company secretaries play a vital role in the corporate sector, being responsible for ensuring compliance with various laws and regulations, including the Companies Act, the Securities and Exchange Board of India (SEBI) regulations, and the Income Tax Act. They also play a key role in corporate governance, and in assisting companies with various matters related to administration, management, and finance.
The ICSI also provides various services to its members, including access to its library and research facilities, and networking opportunities with other professionals. The ICSI also publishes a journal, the ‘ICSI Journal of Corporate Governance’ which focuses on the latest developments in corporate governance. The ICSI also conduct various training programs, workshops and seminars to keep its members updated with the latest laws and regulations.