Institute of Chartered Secretaries and Administrators
Encyclopedia
The Institute of Chartered Secretaries and Administrators (ICSA) is an international professional membership body and a recognised authority on corporate governance
.
in 1902. The initial object of the Institute of Secretaries was the development of the profession of company secretary
and the creation of high standards in the Profession. Membership was limited to those successful in the examinations and those who demonstrated the standard of experience set by the Institute.
In 1902, coincident with receiving its Royal Charter, the Institute changed its name to the Chartered Institute of Secretaries of Joint Stock Companies and Other Public Bodies. In practice, as ICSA grew, its membership has reflected the administrative function in many types of corporate body such as educational institutions, charities and hospitals. In 1971 this wider role was recognised formally by an amendment to the Institute's Charter which gave it the name of the Institute of Chartered Secretaries and Administrators.
Chartered Secretaries work in the public, private and not-for-profit sectors as company or corporate secretaries, general counsel
and other senior positions. In addition, some of the Institute's members hold practice certificates, entitling them to be Chartered Secretaries in public practice, and provide company secretarial services on a contractual basis to a wide range of organizations.
Working with government and other statutory bodies, ICSA promotes and supports best practice in corporate governance
in the private, public and not-for-profit sectors. Since 2006 the Institute has been working closely with the Department for Business, Innovation and Skills on the implementation of the Companies Act 2006
and has recently contributed to the Financial Reporting Council's review of the Combined Code and Sir David Walker's review of corporate governance in the banking sector. The Institute has also been active in the European Union
, assisting with the development of common governance regulations.
ICSA regularly publishes guidance notes which focus on the practical aspects of legislation and has several subsidiary companies through which it provides software, books, training, conferences, recruitment and board evaluation.
ICSA Recruitment specialises in executive search, advertised selection and contingency recruitment for permanent, temporary and interim company secretarial and related roles at all levels globally.
.
Students may move from Division to Division between courses in the IQS. Because of this international portability, and the portability of the designations themselves, the ICSA maintains a strict review and monitoring regime of each Division's implementation of the educational programmes. In addition to supporting portability, this process also helps ensure quality.
In 2011 the IQS scheme will change to the CSQS (Chartered Secretaries Qualifying Scheme).
, Canada
, Hong Kong
, Malaysia, New Zealand
, Singapore
, South Africa
and Zimbabwe
. ICSA has 36,000 members in the United Kingdom, and some 15,000 students worldwide.
Corporate governance
Corporate governance is a number of processes, customs, policies, laws, and institutions which have impact on the way a company is controlled...
.
History
The organisation was founded in 1891 and incorporated by Royal CharterRoyal Charter
A royal charter is a formal document issued by a monarch as letters patent, granting a right or power to an individual or a body corporate. They were, and are still, used to establish significant organizations such as cities or universities. Charters should be distinguished from warrants and...
in 1902. The initial object of the Institute of Secretaries was the development of the profession of company secretary
Company secretary
A company secretary is a senior position in a private company or public organisation, normally in the form of a managerial position or above. In the United States it is known as a corporate secretary....
and the creation of high standards in the Profession. Membership was limited to those successful in the examinations and those who demonstrated the standard of experience set by the Institute.
In 1902, coincident with receiving its Royal Charter, the Institute changed its name to the Chartered Institute of Secretaries of Joint Stock Companies and Other Public Bodies. In practice, as ICSA grew, its membership has reflected the administrative function in many types of corporate body such as educational institutions, charities and hospitals. In 1971 this wider role was recognised formally by an amendment to the Institute's Charter which gave it the name of the Institute of Chartered Secretaries and Administrators.
Profile
There are two classes of membership of the Institute, Fellows and Associates. All qualified members of the Institute are entitled to describe themselves as Chartered Secretaries and use the post-nominals, FCIS or ACIS as appropriate. Fellowship is the senior grade of membership. Another grade, Grad ICSA, comprises those who have successfully completed the examinations but have not yet gained sufficient qualifying service for Associateship. Students have the option of distance learning or going to college or university in order to qualify. The ICSA's International qualification is recognised in over 70 countries; in some jurisdictions, Associateship or Fellowship in the ICSA is one of the legislatively allowed credentials to be company secretary in a publicly-traded company.Chartered Secretaries work in the public, private and not-for-profit sectors as company or corporate secretaries, general counsel
General Counsel
A general counsel is the chief lawyer of a legal department, usually in a corporation or government department. The term is most used in the United States...
and other senior positions. In addition, some of the Institute's members hold practice certificates, entitling them to be Chartered Secretaries in public practice, and provide company secretarial services on a contractual basis to a wide range of organizations.
Working with government and other statutory bodies, ICSA promotes and supports best practice in corporate governance
Corporate governance
Corporate governance is a number of processes, customs, policies, laws, and institutions which have impact on the way a company is controlled...
in the private, public and not-for-profit sectors. Since 2006 the Institute has been working closely with the Department for Business, Innovation and Skills on the implementation of the Companies Act 2006
Companies Act 2006
The Companies Act 2006 is an Act of the Parliament of the United Kingdom which forms the primary source of UK company law. It had the distinction of being the longest in British Parliamentary history: with 1,300 sections and covering nearly 700 pages, and containing 16 schedules but it has since...
and has recently contributed to the Financial Reporting Council's review of the Combined Code and Sir David Walker's review of corporate governance in the banking sector. The Institute has also been active in the European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
, assisting with the development of common governance regulations.
ICSA regularly publishes guidance notes which focus on the practical aspects of legislation and has several subsidiary companies through which it provides software, books, training, conferences, recruitment and board evaluation.
ICSA Recruitment specialises in executive search, advertised selection and contingency recruitment for permanent, temporary and interim company secretarial and related roles at all levels globally.
Education
In the UK, the ICSA offers several paths to membership. Generally, an individual with no university degree begins by taking the Certificate and Diploma in Business Practice or Offshore Finance and Administration, and progresses to the International Qualifying Scheme (IQS), which has two levels. Those with degrees may, upon approval, proceed directly to the IQS. Some Divisions (see below) do not offer the Certificate and Diploma Programmes; entrants to the IQS must have suitable academic credentials. The Institute does not recognize experience as equivalent to a degree, and does not conduct prior learning assessmentRecognition of prior learning
Recognition of prior learning , prior learning assessment , or prior learning assessment and recognition , describes a process used by colleges and universities around the world to evaluate learning acquired outside the classroom for the purpose of assigning academic credit...
.
Students may move from Division to Division between courses in the IQS. Because of this international portability, and the portability of the designations themselves, the ICSA maintains a strict review and monitoring regime of each Division's implementation of the educational programmes. In addition to supporting portability, this process also helps ensure quality.
In 2011 the IQS scheme will change to the CSQS (Chartered Secretaries Qualifying Scheme).
Divisions
Divisions are substantially autonomous operations located in a variety of countries around the world. They offer the Institute's educational programme and admit members to the international register in their respective territories. Headquartered in London, the ICSA has members and students in more than 70 countries worldwide, and Divisions in AustraliaAustralia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, Malaysia, New Zealand
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
and Zimbabwe
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
. ICSA has 36,000 members in the United Kingdom, and some 15,000 students worldwide.
See also
- Institute of Business Administration and ManagementInstitute of Business Administration and Management- Knowledge for business :The Institute of Business Administration and Management was an collaboration between the Institute of Chartered Secretaries and Administrators and the Institute of Business Administration ....
- Chartered Secretaries New ZealandChartered Secretaries New ZealandChartered Secretaries New Zealand is the New Zealand division of the Institute of Chartered Secretaries and Administrators . ICSA International is an international professional body with 44,000 members worldwide. It was founded in England in 1891 and granted its Royal Charter in 1902...