The demand for Company Secretaries would go up after the Companies Act, 2013 was implemented in absolute terms, said president of the Institute of Company Secretaries of India (ICSI) Atul H. Mehta.
Only 50 per cent of the legislation had been implemented so far, while the remaining provisions were expected to come into force soon, he told reporters here on Wednesday. He pointed out that the scope of Company Secretaries in making companies legally-compliant had expanded considerably.
Unlike in the past, when the job profile of Cost Accountants and Chartered Accountants was regarded as more important, the role of Company Secretaries had fast attained relevance for ensuring that a company cooperated with regulators of different kinds on labour and other statutes.
They also ensured secretarial audits, which were an industry-friendly mechanism to reduce costs of litigation and mitigated risks, Mr. Mehta said.
Addressing a gathering of professionals and students as part of a seminar on ‘Secretarial Audit’ organised by ICSI, Regional Director (South-East Region) of the Ministry of Corporate Affairs B.N. Harish said rules of the new Companies Act were a test and hoped all companies cooperated with the regulator.
The in toto implementation of the Companies Act, 2013 would ensure this, said ICSI president Atul H. Mehta
