Institute of Chartered Secretaries and Administrators

Institute of Chartered Secretaries and Administrators
Name	Institute of Chartered Secretaries and Administrators
Abbreviation	ICSA
Formation	1891
Type	Professional body
Headquarters	London
Region	International
Membership	Chartered secretaries, governance professionals

Institute of Chartered Secretaries and Administrators is a professional body founded in 1891 that develops standards for corporate governance and company secretarial practice. It has historically interfaced with institutions such as the London Stock Exchange, Companies House, Bank of England, Financial Reporting Council, and Institute of Directors while engaging with regulators like the Securities and Exchange Commission and organizations such as the International Federation of Accountants, Organisation for Economic Co-operation and Development, and United Nations forums. Its remit has intersected with figures and institutions including David Lloyd George, Herbert Asquith, Sir John Kenyon, Lord Denning, Cadbury Committee, and Greenbury Report in shaping governance norms.

History

The institute emerged in the late Victorian era alongside entities such as the City of London Corporation, Royal Exchange, London Stock Exchange, Institute of Chartered Accountants in England and Wales, and Chartered Institute of Personnel and Development as corporate organization grew. Early officers corresponded with authorities like Companies House and policymakers including Winston Churchill and Benjamin Disraeli's contemporaries while professional discourse referenced publications such as the Financial Times, The Times, The Economist, and reports from the Cadbury Committee and Greenbury Report. In the 20th century the institute worked with judicial and regulatory figures including Lord Denning, Sir Robert Jennings, House of Lords, Privy Council, and European Court of Justice on corporate law and practice. International expansion linked the institute to national bodies such as the Institute of Chartered Secretaries and Administrators of Nigeria, Hong Kong Institute of Chartered Secretaries, Singapore Institute of Directors, and associations active in regions represented by the Commonwealth of Nations and the Association of Southeast Asian Nations.

Organisation and structure

Governance of the body has involved offices analogous to those of the Corporation of London, with a council and board mirroring structures found at Board of Trade, House of Commons committees, and boards like those of the Barclays PLC, HSBC Holdings, and Royal Dutch Shell. Committees have interfaced with standard-setters including the Financial Reporting Council, International Accounting Standards Board, European Securities and Markets Authority, and tribunals such as the Companies Tribunal in various jurisdictions. Regional divisions coordinate with national institutes such as the Chartered Secretaries New Zealand and The Institute of Chartered Secretaries and Administrators of Sri Lanka while maintaining professional links to universities including University of Oxford, University of Cambridge, London School of Economics, and University College London for education and accreditation.

Qualifications and professional development

The institute developed syllabuses and examinations comparable to those of the Institute of Chartered Accountants in England and Wales, Association of Chartered Certified Accountants, and Chartered Institute of Management Accountants and worked with higher education providers represented by University of London and the Open University. Vocational pathways incorporated modules referencing corporate law instruments like the UK Companies Act 2006, regulatory frameworks including those of the Financial Conduct Authority, and codes such as the UK Corporate Governance Code and guidance from the Cadbury Report and Hampel Committee. Professional development programs paralleled offerings from the Institute of Directors, Chartered Institute of Personnel and Development, and Association of Corporate Counsel and included continuing professional development endorsed by accreditation bodies such as the Quality Assurance Agency for Higher Education.

Membership and post-nominals

Membership grades mirrored those of bodies like the Royal Society and the Chartered Institute of Personnel and Development with fellows and associates analogous to fellowships at the Institute of Chartered Accountants in England and Wales and titles used by members of the Law Society. Successful candidates often adopted post-nominals recognized alongside qualifications such as those from the Association of Chartered Certified Accountants and Chartered Institute of Management Accountants, and membership enabled participation in governance roles at companies listed on the London Stock Exchange, New York Stock Exchange, and Hong Kong Stock Exchange.

Global presence and national institutes

The institute developed national divisions and affiliated organizations in countries including Australia, Canada, India, Pakistan, Bangladesh, Sri Lanka, Malaysia, Singapore, Hong Kong, Nigeria, South Africa, New Zealand, and Kenya, often coordinating with local bodies such as the Institute of Company Secretaries of India and the Hong Kong Institute of Chartered Secretaries. Collaborations occurred with multilateral organizations such as the Commonwealth Secretariat, World Bank, and International Monetary Fund in programs promoting corporate governance and capacity building.

Roles and functions

Practitioners trained by the institute have served as company secretaries, governance advisers, compliance officers, board directors, and advisors to audit committees in firms such as Barclays PLC, HSBC, BP, Royal Dutch Shell, GlaxoSmithKline, and Unilever. The institute contributed to policy discussions with panels and inquiries like the Cadbury Committee, Greenbury Report, Turnbull Report, and regulatory consultations from the Financial Reporting Council and Financial Conduct Authority. It provided guidance used in litigation before courts including the High Court of Justice, Court of Appeal of England and Wales, and Supreme Court of the United Kingdom and informed training referenced by bodies such as the Institute of Chartered Accountants of India.

Notable members and influence on corporate governance

Members have included company secretaries, barristers, judges, regulators, and executives who interacted with institutions like the Bank of England, London Stock Exchange, Financial Conduct Authority, and inquiries chaired by figures such as Sir Adrian Cadbury and Sir Derek Higgs. The institute's alumni influenced codes and reports including the Cadbury Report, Greenbury Report, and Higgs Report, and its professionals have given evidence to parliamentary committees such as the House of Commons Treasury Committee and the House of Lords Select Committee on the European Union.

Category:Professional associations