ICSI to strengthen internal governance

Has over 33,000 members including over 5,000 in practice, 3,60,000 students across its 70 branches

After playing a key role in corporate governance in the country at a larger scale, the Institute of Company Secretaries of India (ICSI) is drafting guidelines to strengthen institutional governance within ICSI.

“The council meeting is set for next week, where members from the four regional councils meet to discuss and draft guidelines on internal governance practices,” said SN Ananthasubramanian, president, ICSI council here on Friday.

ICSI, which was set up under the Company Secretaries Act, 1980 to develop and regulate the profession of company secretaries, has more than 33,000 members including over 5,000 members in practice and 360,000 students across its 70 branches, including in Dubai.

Being a professional body for corporate governance, the target is to bring some discipline internally. Internal governance is important for various reasons including accountability, responsibility by establishing stakeholders' mechanisms within the institute through this initiative, C Sudhir Babu, council member, ICSI, said.

The institute is developing a database for independent directors. It is also brining changes in its curriculum and syllabus for its executive programme, which will be implemented from September 1.