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The Institute of Company Secretaries of India feels that following the full implementation of the Companies Act 2013 and the new Secretarial Audit provisions, there would be a sharp rise in demand for new company secretaries.
"Currently, about 3,500 fresh company secretaries pass out every year, which more or less takes care of the present demand. But the need for more company secretaries will arise in the coming years," Atul H Mehta, president of the institute, told mediapersons here today.
On the secretarial audit programme, he said it was industry-friendly and was akin to a regular health check-up of companies and enterprises. "It will bring down litigation and mitigate the risk of exposure to liabilities," he said.
For example, bank NPAs develop over a period of time and regular secretarial audits could prevent build-up of NPAs, he said.
Mehta was confident that the industry will be happy to accept this concept of secretarial audit in the next one or two years.
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