3 Day training shop by Bank Sohar, Oman

Banks and financial institutions are striving to make their employees more proficient in finance management skills. A bank based in Oman, Bank Sohar, conducted a three day workshop for its select employees.

Objective of the workshop

Updating employees of recent developments

Short term programmes or workshops help in updating the knowledge of staff who may have not studied the concerned topics when he or she pursued studies. Such crash courses help employees in facing newer challenges. DGM (the Human Resource & Corporate Support) of the banking institution Ms. Munira Abdulnabi Macki believes that the training workshop will add value to Sohar’s staff and help the bank in providing world class service to its customers.

Better service

When employees are well trained and have updated knowledge, they provide better service to customers on behalf of the organisation. It helps the institution in having upper hand over its competitor. Such banking courses also help the staff to learn about best practices followed by other top banks around the world.

The workshop was conducted by Andre Lanser who has vast experience of 15 years in delivering courses for many reputed banks around the world. He specialises in Financial Modelling, Corporate Finance, Credit, Valuation and related subjects.

New Syllabus for the Company Secretary Course

The Institute of Company Secretaries of India (ICSI) has introduced new syllabus for the executive and professional programmes. The revamped curriculum is already applicable for the executive course since February 1, 2013. Candidates for the professional programme will get to study the new syllabus from September 1, 2013.

Highlights of the new curriculum

Executive Programme

As per the revamped syllabus, students of the Executive stage of the CS course will have to study for seven papers instead of six in the earlier case.

The first 4 papers are included in Module 1 and the last 3 in Module 2:

·         Company Law

·         Cost and Management Accounting

·         Economic and Commercial Laws

·         Tax Laws and Practice

·         Company Accounts and Auditing Practices

·         Capital Markets and Securities Laws

·         Industrial, Labour and General Laws

Professional programme

Students for the professional course will have to study 9 papers instead of 8 as is the present practice.

Papers are divided into three modules with 3 papers in each set:

·         Advanced Company Law and Practice

·         Secretarial Audit, Compliance Management and Due Diligence

·         Corporate Restructuring, Valuation and Insolvency

·         Information Technology and Systems Audit

·         Financial, Treasury and Forex Management

·         Ethics, Governance and Sustainability

·         Advanced Tax Laws and Practice

·         Drafting, Appearances and Pleadings

·         Electives

Detailed syllabus for the entire course can be downloaded from the ICSI’s website.

Company Secretary Different From a Chartered Accountant

A Chartered Accountant (CA) has nothing in common with a Company Secretary (CS) though for some inane reason there seems to be a prevalent general perception that the professions are related. Chartered Accountants work extensively in finance and business sectors whereas a company secretary is almost always the ‘connect’ that bridges the functional gap between the management, board of directors and employees.

The Company secretary course in India is conducted by the Institute of Company Secretaries of India. The entire program is divided into three stages, Foundation, Executive and Professional programs. A qualified CS generally acts as a legal advisor to senior personnel in an organization. In public companies CS professionals look after legal issues related to corporate investments, loans and any other public issue. Chartered Accounts though are more powerful in the sense that they are authorized to conduct audits whereas a company secretary plays a more advisory role.

A company secretary basically is qualified to perform multiple roles including corporate governance, secretarial services, legal advisor, financial management and human resource management.

The minimum eligibility criteria for enrolling for both Company Secretary-ship and Chartered accountant course, i.e. the ‘Foundation Program’ are a 10 + 2 certificate. Graduates and post graduates in any field interested in enrolling for the company secretary courses are exempted from going through the foundation stage and are given direct entry into either the ‘Intermediate Program’ or the ‘Final Professional Program’.

Company Secretary – An Overview of the Course

Company Secretary Program is one of the most sought after courses present. It consists of three stages and they are:

•    Foundation Program

•    Executive Program

•    Professional Program

After these three stages, a final examination is required to be passed. In fact, after the examination is passed, the candidate needs to go through a practical training session. 

Now, let us go through the different stages in brief:

1.    Foundation Program

The minimum time period required for completing the course is eight months only. This period is considered between two dates, the one starting from the date of admission and the completing on the date of exam. The maximum time period is three years. A candidate needs to pass 10+2 examination or equivalent to get admission. If you want to register with the program, you can do it throughout the year.

In the month of June and December the exams are conducted. In case you want to give examination in the month of June of any year, you have to get registered in the month of September of the previous year. Some of the subjects are FCEBC (English and Business Communication), FERBAM (Elements of Business Laws and Management), FCFA (Financial Accounting), and Economics and Statistics.

2.    Executive Program

You can get enrolled in this program if you are at least 17 years. This program can be done along with post graduation or graduation. A person who has done ICAI or ICWAI can start from this program itself. He or she will not be required to pursue Foundation Program.  This program was earlier known by the name Intermediate Program. There are two modules that are needed to be studied and the subjects for study are Tax Laws;  Economic, Labour Laws; General and Commercial Laws; Securities Laws and Compliances; Company Accounts and Cost & Management Accounting and Company Law.

3.    Final Program

This program is the final step. There are four modules, comprising of various subjects such as Drafting, Appearances and Pleadings, Corporate Restructuring & Insolvency, Advanced Tax Laws and Practice, Governance, Business Ethics and Sustainability, Strategic Management, Alliances and International Trade, Company Secretarial Practice, Due Diligence and Corporate Compliance Management and Financial, Treasury and Forex Management.

If you want to become a Company secretary, you have to pass all three stages given above along with the final examination and practical training, thereafter.