Panaji: The role of professionals such as company secretaries is very important for corporate governance, said the chairman of Dempo Group of Companies Shrinivas Dempo.
He was speaking as the chief guest, during the inaugural of two-day conference of the Institute of Company Secretaries of India (ICSI) in Panaji, on Friday. The theme of the conference is ‘Spectrum- expanding the profession,’ and is attended by around 100 members of the association. The conference aims at deliberating over range of issues affecting the profession.
Dempo also urged company secretaries to abide by values and ethics. Citing the example of several frauds and scams in the Indian corporate sector, he attributed them to failure of corporate governance.
With the business environment turning dynamic, a gathering of company secretaries in the state resolved to continuously upgrade skills to take on the added responsibilities imposed on the profession.
Company secretaries also spoke on the challenges faced by them in the new regulatory environment and on Unique Document Identification Number (UDIN) mooted for all documents certified by them. The UDIN aims at assigning responsibility on a company secretary for a particular decision and improving accountability.
The conference is attended by almost all the top office bearers of the body, including Ranjeet Pandey, president, ICSI and Ashish Garg, vice president. Held in sessions, the conference is devoted to topics such as understanding foreign direct investment (FDI) compliance, NCLT, disclosures under annual report, etc.