If you have passed the entrance exam of the Institute of Chartered Accountants of India (ICAI) or the Institute of Cost Accountants of India [ICAI(Cost)] then you are eligible to take direct entry in Executive Programme of the Institute of Company Secretaries of India (ICSI).
Thus, in addition to the students having graduation degree i.e. B.A. / B. Sc. / B. Com / Graduates of any discipline (excluding Fine Arts), any applicants who have passed Common Proficiency Test (CPT) of ICAI or Foundation Examination of ICAI (erstwhile ICWAI) may now get direct admission in Executive Programme of ICSI. Earlier only CA/CMA final passed students were entitled to take direct registration in CS Executive Programme.
Further, the CS Institute has also relaxed candidates who have passed in the examination conducted by any other accountancy institution in India or abroad recognised as equivalent of CA CPT by the Council of the ICSI are exempted from passing the Foundation Programme examination. Such students may directly seek registration to Executive Programme stage of CS Course.
Admission to the CS course is open throughout the year. Note that 30th September 2016 is the last date for seeking admission for appearing in June 2017 term of CS Executive. Whereas, you have to take admission latest by 28th February 2016 for appearing in all modules/ papers of CS Executive Dec 2017 Examination.
Exemption from passing the Foundation Programme examination
A candidate possessing any of the following qualifications is eligible for exemption from passing the Foundation Programme examination:
- A degree or master’s degree in any discipline (other than Fine Arts); or
- Pass in the Foundation examination of the Institute of Cost Accountants of India (ICAI-CMA) or Common Proficiency Test (CPT) conducted by the Institute of Chartered Accountants of India (ICAI) or any other Accountancy Institution in India or abroad recognized as equivalent thereto by the Council.
A non-commerce candidate seeking exemption from the Foundation Programme examination is however provided the study materials of four subjects of Foundation Programme, which he/she is advised to do self-study to acquire the basic knowledge of the related subjects.
Did you know? The Company Law Board (CLB) started a course in Company Secretaryship in the year of 1960 and after completion of 8 successful years, the Government promoted on 4th October, 1968, ICSI under section 25 of the Companies Act, 1956 for taking over from the Government of India to conduct the Company Secretaryship examination.
The CS Institute has since been converted into a statutory body w.e.f. 1st January, 1981 under the Company Secretaries Act, 1980 to develop and regulate the profession of Company Secretaries in India. The number of current CS students is more than 3,80,000 and the number of current Company Secretaries is over 31,000 including over 5,000 members holding certificate of practice.
After qualifying the Executive and Professional Examination students are required to undergo Practical and Modular Training to become qualified Company Secretaries. In accordance with the provisions of clause (24) of the Companies Act, 2013, “company secretary” or “secretary” means a company secretary as defined in clause (c) of sub-section (1) of section 2 of the Company Secretaries Act, 1980 who is appointed by a company to perform the functions of a company secretary under this Act.
Pursuant to the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2014 vide G.S.R. 390(E), dated 09-06-2014, a company which has a paid-up share capital of ₹5 Crore or more is compulsorily required to appoint a whole-time Company Secretary. Note that every listed company shall have a whole-time company secretary.