Role of Company Secretary in Risk Management

Company secretary roles are key roles in any organisation. As per ICSI, "Apart from statutory requirement enshrined in section 383A of the Companies Act, 1956 stipulating that every company with a paid- up share capital of Rs5 Crore or more is required to appoint a whole time Company Secretary, the Company Secretaryship qualification has been widely acclaimedby the Central and State Governments, Regulators and Corporates for the value added services provided by our members. The Indian Banking Association has recommended to the banks to consider the appointment of Company Secretaries as specialists in the fields of Finance, Accounts, Law and Merchant Banking."

ICSI also goes on to state that "Employing a whole time company secretary may help the Corporates in terms of Compliance Risk Management, Organic and Inorganic Corporate Strategies, due diligence of various business decisions, governance & sustainability initiatives, corporate disclosure of financial and non financial transactions, project planning, regulatory interface etc."

Riskpro agrees that compliance risk management is a key function in organisations and skilled and qualified professionals ensure that risk is mitigated by way of better compliances, regulatory compliance, good corporate governance structures.

Please find attached below the leaflet of Role of Company Secretaries prepared and circulated by ICSI.

In case of any further information/clarification, please feel free to get in touch with Mr. Sanjay Nagar Tel: 011-45341045 sanjay.nagar@icsi.edu

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