Paper 1 – Governance, Risk Management, Compliance and Ethics (CS Professional Module I Old Syllabus) by CA Anshika Agarwal

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Frequently Asked Questions (FAQs):

Q. What is corporate governance as per ICSI?

A. According to the Institute of Company Secretaries of India (ICSI), corporate governance is the application of best management practices, compliance with laws in true letter and spirit, and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility, for sustainable development of all stakeholders.

Corporate governance is a crucial aspect of a company’s success and long-term sustainability. It encompasses the set of principles, processes, and structures that govern the direction and management of a company. Effective corporate governance ensures that companies operate in a transparent, accountable, and ethical manner, while also balancing the interests of various stakeholders, including shareholders, employees, customers, suppliers, and the community. So, to learn about Corporate Governance, enroll in Study At Home‘s CS Professional GRMCE Classes.

Q. What are secretarial compliances?

A. Secretarial compliances are like the rules companies need to follow to stay legal and in good standing with the government. These rules, set by laws like the Companies Act and others, include things like keeping certain registers, filing yearly reports, having meetings, and following regulations related to finance and foreign exchange. To get ready for these important but somewhat tricky tasks, companies need a good system in place. If they don’t follow these rules, there can be penalties. But, if they do, it brings benefits like lower legal risks, better management, clear transparency, lower costs, and smarter decision-making. So, for companies, sticking to these rules isn’t just about following the law; it’s about running a business well. Hence, it is crucial for a CS to learn these topics, join this CS Professional GRMCE Classes.