The Institute of Company Secretaries of India believes its members should take up a larger role in corporate governance than just being compliance officials.
They should be chief governance officers rather than just officials in charge of compliance in a corporate set up. The Institute has decided to launch an advertisement campaign to sensitise corporates and society about the changing aspirations of the profession.
Company Secretaries had a larger role to play in the current environment, said M.S. Sahoo, Secretary of ICSI, addressing a press conference.
ICSI is holding its 41st national convention here on Thursday, which is to be inaugurated by Corporate Affairs Minister Sachin Pilot.
Company secretaries are overseeing compliance through the Listing Agreement between a company and a stock exchange.
The new Companies Act has mandated Secretarial audit for listed companies – a norm that increase demand for such professionals.
The ICSI, however, is looking to position its members as Chief Governance Officers, but will not approach the Ministry of Corporate Affairs for any legal backing for such a status.
The Companies Act 2013 counts Company Secretaries among Key Management Personnel such as Chief Executive Officer and Chief Financial Officer, and Whole-Time Director.
S.N. Ananthasubramanian, President ICSI, said this can pave the way for a bigger boardroom role, instead of the current function as a compliance officer. The ad campaign, to be launched from Thursday, will initially run in print media, and followed up with television campaigns, he said.