Company secretaries internationally: A force to be reckoned with? Stephen Sadie, CEO Chartered Secretaries Southern Africa

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1 Company secretaries internationally: A force to be reckoned with? Stephen Sadie, CEO Chartered Secretaries Southern Africa 14 September 2011

2 Outline a force to be reckoned with? 1. Global spread 2. Institute of Chartered Secretaries and Administrators (ICSA) 3. Corporate Secretaries International Association (CSIA) 4. Chartered Secretaries Southern Africa (CSSA)

3 1. Global spread

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5 ICSA Divisions

6 History of ICSA Divisions 1. Started in UK Southern Africa New Zealand Australia China Singapore Canada Malaysia Zimbabwe

7 CSIA 15 members 1. 8 ICSA Divisions and UKRIAT 2. Society of Corporate Secretaries and Governance Professionals, USA 3. Canadian Society of Corporate Secretaries 4. Institute of Company Secretaries of India 5. Institute of Chartered Corporate Secretaries of Sri Lanka 6. ICSA of Nigeria 7. Institute of Certified Public Secretaries of Kenya

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10 Canada Canadian Society of Corporate Secretaries members

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12 USA Society of Corporate Secretaries and Governance Professionals Cosec, assistant cosec. No exams

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14 Brazil members Not only cosecs Code of best practice of corporate governance (4 th version)

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22 India members!! an Act of Parliament i.e. the Company Secretaries Act, 1980 Company secretary, CS Sphere of influence - surrounding countries

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30 Pakistan The Institute of Corporate Secretaries of Pakistan members Will soon become a statutory body Company secretary, LCIS, ACIS, FCIS Exams

31 Bangladesh Institute of Chartered Secretaries of Bangladesh Parliament passed Chartered Secretary Act, 2010 FCS

32 Number of members in each member country

33 2. Institute of Chartered Secretaries and Administrators

34 ICSA 110 years old ICSA is facing challenges of declining numbers No new divisions for 50 years Absolute UK control 64% members in Divisions, 36% UKRIAT International Council 67% UKRIAT, 33% Divisions Poor corporate governance

35 ICSA Wanted to centralise membership, students, exams in London Wanted subscriptions paid directly to London Divisions have banded together to save Institute International President resigned in March 2011, still vacant International CEO resigned 30 August 2011

36 3. Corporate Secretaries International Association

37 CSIA Launched in Paris on 22 March 2010 Phil Armstrong, Global Corporate Governance Forum & Grant Kirkpatrick of OECD Growing quickly SA founding member of CSIA 1 st international corporate governance conference in Shanghai No staff yet Limited budget

38 Services Sectoral Classification List of the WTO Corporate Governance, Compliances and Secretarial Advisory Services Corporate Governance Services Core Value Assimilation and its Implementation in Business and Management Policy Corporate Secretarial Services Secretarial Audit and Compliance Audit Services Certification Services Corporate Advisory Services

39 4. Chartered Secretaries Southern Africa

40 Professional body for company secretaries Company secretaries need a home A professional body to grow the profession A professional body must have CPDs Must have disciplinary processes Must have appropriate qualifications Lawyers, Chartered Accountants, B Coms, should join

41 Conference - Companies Act in black & white

42 Conference corporate governance in living colour

43 Conference good governance across the board

44 Students grow the profession

45 Hatching professionals for the board

46 Qualification - NQF Level 8 (honours)

47 CPDs - cosecs must be knowledgeable

48 Website a resource for cosecs

49 Annual Report Awards

50 Annual Report Awards Since 1956 Industry benchmark Edcon Ltd (20) SABMiller Plc (16) Barloworld Ltd (10)

51 Companies Act and King III Implemented from 1 May 2011 changing the business landscape knowledgeable and experienced in the law The board should be assisted by a competent, suitably qualified and experienced company secretary. Strengthen the profession of company secretary Develop the status of company secretary no shrinking violets

52 The end A force to be reckoned with?