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In the midst of Chaos, There is opportunity’ - Sun Tsu

There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

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Page 1: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

‘In the midst of Chaos,

There is opportunity’

-Sun Tsu

Page 2: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

வெள்ளத் தனைய இடும்னை அறிவுனையான்உள்ளத்தின் உள்ளக் வெடும்.

Translation:“A flood of troubles will be overcome by the thought which the minds of the wise will entertain, even in tough times.”

Page 3: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

ROLE OF A COMPANY SECRETARY

As an Employee

As an Advisor

As a Representor

• Compliance Officer

• Custodian of Corporate Governance

• Key Managerial Personnel

• Moderator between Board and Stakeholders

• Secretarial Audit• Corporate

restructuring• Implementer of

changing legal environment

• Appearance before

- NCLT- SEBI-Other Tribunals

Page 4: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

Challenges faced by CS in whole time employment

Downfall in economy

Lack of proper coordination from employees

Social Distancing- Hindrance to Audit

Losing job and monetary benefits

Relaxation/extensions given by Govt

Page 5: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

Challenges faced by CS in Practice

Lack of work from corporate clients

Decreased fund raising activity and no new project

Postponed Corporate Restructuring activities

Delays in filings

Closure of companies during Lockdown period

Relaxation in additional fee by Government

Page 6: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

Challenges faced by CS in teaching

Lack of Technical support to switch to online classes

Educational Institutions remains closed

Less prepared for the idea of online coaching

Page 7: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

Challenges faced by students who cleared in last attempt

Not possible to continue training and

be qualified

No new Job opportunity

Increased Competition

Page 8: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

Problems faced by CS Students

Lot of distractions

Non availability of physical classes and expensive online classes

Changes in Exam schedules

Constant updates in curriculum

Page 9: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

How challenges faced by CS differ from that of other professionals

To keep track with changing laws

Opportunities are confined to finance and law

Changes in compliance requirements

Lot of disciplinary regulations

Dealing with clients

Constant updating in knowledge and continuous training in relevant areas

Page 10: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

Possibilities in Pandemic

Role of CS in rebuilding economy

• Expanded Advisory role• Online teaching

opportunities• Developing innovative

approach• Designing new working

models• Following the regulatory

policies of Government• Organising / Scheduling

virtual meeting

Page 11: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

Measures taken by ICSI to overcome the challenges

Conducting Online Skill development workshops

Providing platform for knowledge sharing

Providing virtual learning facilities to students

Encouraging CS workforce by conducting online

programs with credit hours

Page 12: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

“ It is very challenging. But also, an amazing opportunity to unlearn, relearn and test our capabilities and value systems”

- Sudeep Ralhan,Walmart Labs.

Page 13: There is opportunity’ · Challenges faced by CS in whole time employment Downfall in economy Lack of proper coordination from employees Social Distancing- Hindrance to Audit

“Together we can, Together we will.”

Thank you!