Secretarial Standard

Constitution of Committees by Companies | Companies Act, 2013

Company Law - Committees comprise of Board Members along with experts in such field for which the Committee has been formed. However, the Board of Directors are ultimately responsible for the acts of the committee. Board is responsible for defining the committee role and structure....

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Auditing Standard on Audit Engagement (CSAS-1)

Company Law - The Auditing Standard on Audit Engagement (CSAS-1), formulated by Auditing Standards Board (ASB) of the Institute of Company Secretaries of India (ICSI) and issued by the Council of the ICSI is mandatory for all the audit engagements accepted by the auditor on or after April 01, 2021. CSAS-1 is applicable to all the Practicing Company [&h...

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SS-4–Secretarial Standard on Report of Board of Directors

Company Law - COMPANY  SPECIFIC  DISCLOSURES  IN  A  DIRECTOR’S  REPORT 1. Financial summary and highlights- The financial summary and highlights should be accompanied by the macro-economic, geo-political, financial, industry specific as well as any company specific information affecting the business of the company and the market in which it op...

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SOP on Minutes under Companies Act, 2013 read with SS-1 & SS-2

Company Law - MINUTES Governing provisions: Section 118 of Companies Act, 2013 read with Secretarial Standard-1 and Secretarial Standard-2. As per the provisions of Section 118- Every company shall observe Secretarial Standards with respect to General and Board meetings (including Committee Meeting – as per explanation to Secretarial Standards) speci...

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Annual Secretarial Compliance Report

Company Law - Realising the need of growing Compliance Reporting mechanism in letter and spirit, SEBI came out with the Circular dated February 08, 2019 mandating Annual Secretarial Compliance Report to be submitted by a Company Secretary in Practice to the listed entity on an annual basis, regarding compliance of all applicable SEBI Regulations and Ci...

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ROC imposes penalty for non-Adherence to Secretarial Standards

Company Law - Non Adherence to Secretarial Standards lands Companies in a soup ;ROC imposes penalty The Companies Act, 2013 has entered into a maturity phase as its inception is over seven years. Secretarial Standards were introduced to plug in the gap that the Act did not provide for as a measure of good Corporate Governance. Yet, the […]...

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Extension of last date to submit comments on exposure draft of Guidance Note on Auditing Standards on Secretarial Audit (CSAS-4)

Company Law - The Institute of Company Secretaries of India 17th November, 2020 Dear Sir/Madam, Subject: Extension of last date to submit comments on exposure draft of Guidance Note on Auditing Standards on Secretarial Audit (CSAS-4) The Institute of Company Secretaries of India had issued first four Auditing Standards namely CSAS-1: Auditing Standard ...

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Guidance Note on Auditing Standard on Secretarial Audit (CSAS-4)

Company Law - To set out the explanations, procedures and practical aspects in respect of the various provisions contained in the Auditing Standard on Secretarial Audit (CSAS-4), the Auditing Standards Board (ASB) of the Institute has brought out the Exposure Draft of the Guidance Note on Auditing Standard on Secretarial Audit (CSAS-4)....

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Guidance on applicability of SS-1 and SS-2

Company Law - Clarification/ Guidance on applicability of Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2). As you are aware, Section 118(10) of the Companies Act, 2013 provides for mandatory observance of SS-1 and SS-2 by all companies....

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Revised Drafts of Secretarial Standard 1 and 2 on Meetings

Company Law - The Secretarial Standard on Meetings of the Board of Directors (SS-1) and Secretarial Standard on General Meetings (SS-2) issued by the Institute of Company Secretaries of India (ICSI) under Section 118(10) of the Companies Act, 2013 are effective from 1st July, 2015....

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ICSI withdraws existing SS-1 and SS-2 w.e.f. 30th September, 2017, Revised SS-1 & to be introduced w.e.f. 01.10.2017

F. No. ICSI/6/2017 - (16/08/2017) - F. No. ICSI/6/2017.—The Notification ICSI No.1 (SS) of 2015 dated 23rd April, 2015, published in the Gazette of India, Part III, Section 4, with regard to (i) SS-1: Secretarial Standard on Meetings of the Board of Directors and (ii) SS-2: Secretarial Standard on General Meetings, stands withdrawn*...

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Secretarial Standards are applicable w.e.f. 1st July 2015

I/SSB/2015 - (26/06/2015) - These Secretarial Standards (SS-1 and SS-2) shall apply to Board Meetings and General Meetings, in respect of which Notices are issued on or after 1st July, 2015....

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Regarding Approval of Secretarial Standards SS-1 and SS-2

1/3/2014-QL-I - (10/04/2015) - Approval of Central Government under sub-section (10) of section 118 of the Companies Act, 2013 is hereby accorded to the Secretarial Standards (SS) namely SS-1 on Meetings of the Board of Directors and SS-2 General Meetings....

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Recent Posts in "Secretarial Standard"

Constitution of Committees by Companies | Companies Act, 2013

Committees comprise of Board Members along with experts in such field for which the Committee has been formed. However, the Board of Directors are ultimately responsible for the acts of the committee. Board is responsible for defining the committee role and structure....

Read More
Posted Under: Company Law |

Auditing Standard on Audit Engagement (CSAS-1)

The Auditing Standard on Audit Engagement (CSAS-1), formulated by Auditing Standards Board (ASB) of the Institute of Company Secretaries of India (ICSI) and issued by the Council of the ICSI is mandatory for all the audit engagements accepted by the auditor on or after April 01, 2021. CSAS-1 is applicable to all the Practicing Company [&h...

Read More
Posted Under: Company Law |

SS-4–Secretarial Standard on Report of Board of Directors

COMPANY  SPECIFIC  DISCLOSURES  IN  A  DIRECTOR’S  REPORT 1. Financial summary and highlights- The financial summary and highlights should be accompanied by the macro-economic, geo-political, financial, industry specific as well as any company specific information affecting the business of the company and the market in which it op...

Read More
Posted Under: Company Law |

SOP on Minutes under Companies Act, 2013 read with SS-1 & SS-2

MINUTES Governing provisions: Section 118 of Companies Act, 2013 read with Secretarial Standard-1 and Secretarial Standard-2. As per the provisions of Section 118- Every company shall observe Secretarial Standards with respect to General and Board meetings (including Committee Meeting – as per explanation to Secretarial Standards) speci...

Read More
Posted Under: Company Law |

Annual Secretarial Compliance Report

Realising the need of growing Compliance Reporting mechanism in letter and spirit, SEBI came out with the Circular dated February 08, 2019 mandating Annual Secretarial Compliance Report to be submitted by a Company Secretary in Practice to the listed entity on an annual basis, regarding compliance of all applicable SEBI Regulations and Ci...

Read More
Posted Under: Company Law |

Applicability of Secretarial Audit

WITH ANALYSIS Every Company, while pursuing its business activities, has to comply with  so many rules and regulations relating to the Companies Act, Securities laws, FEMA, Industry Specific laws and General laws like Labour laws and so on… Therefore company have chances to face non- compliance risk like fine imprisonments penalties, l...

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Posted Under: Company Law |

ROC imposes penalty for non-Adherence to Secretarial Standards

Non Adherence to Secretarial Standards lands Companies in a soup ;ROC imposes penalty The Companies Act, 2013 has entered into a maturity phase as its inception is over seven years. Secretarial Standards were introduced to plug in the gap that the Act did not provide for as a measure of good Corporate Governance. Yet, the […]...

Read More
Posted Under: Company Law |

Extension of last date to submit comments on exposure draft of Guidance Note on Auditing Standards on Secretarial Audit (CSAS-4)

The Institute of Company Secretaries of India 17th November, 2020 Dear Sir/Madam, Subject: Extension of last date to submit comments on exposure draft of Guidance Note on Auditing Standards on Secretarial Audit (CSAS-4) The Institute of Company Secretaries of India had issued first four Auditing Standards namely CSAS-1: Auditing Standard ...

Read More
Posted Under: Company Law |

Secretarial Standard on Meetings of Board of Directors

This Standard prescribes a set of principles for convening and conducting Meetings of the Board of Directors. This Standard is applicable to the Meetings of Board of Directors of all companies incorporated under the Act except One Person Company (OPC) in which there is only one Director on its Board and a company licensed under […]...

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Posted Under: Company Law |

Guidance Note on Auditing Standard on Secretarial Audit (CSAS-4)

To set out the explanations, procedures and practical aspects in respect of the various provisions contained in the Auditing Standard on Secretarial Audit (CSAS-4), the Auditing Standards Board (ASB) of the Institute has brought out the Exposure Draft of the Guidance Note on Auditing Standard on Secretarial Audit (CSAS-4)....

Read More
Posted Under: Company Law |

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