The Hong Kong Institute of Chartered Secretaries Releases Research Report that tracks the changes in the role and importance of the company secretary in Hong Kong's listed issuers during the past 17 years
Conclusions from the report include:
HONG KONG, Nov. 26, 2012 /PRNewswire/ -- The Hong Kong Institute of Chartered Secretaries (HKICS) today released its latest findings on the roles and responsibilities that the modern day company secretary plays in corporate Hong Kong. The findings are published in its research report titled: 'The Significance of the Company Secretary in Hong Kong's Listed Companies'.
"This is the first comprehensive report since the Institute published its 1995 report," said Ms. Edith Shih, President of HKICS. "Because the business and governance landscape has changed so much during this time, this report is an important benchmark for company secretaries and the boards they serve."
"Today the company secretary is recognised as an important member of the board team, especially in matters relating to corporate governance where, according to our research, almost all company secretaries advise directors on corporate governance issues. Recent changes to Section F of the Corporate Governance Code under the Listing Rules reflect this even to the point that the appointment of a company secretary now requires the board's sanction," added Ms Shih. "Over the years we've evolved from administrative duties to the point where today's highly qualified, professional company secretary is considered the key advisor to the board on corporate governance and ethics issues."
Key Findings of the Report include:
A complete copy of the research report 'The Significance of the Company Secretary in Hong Kong's Listed Companies' can be downloaded from the HKICS website at: www.hkics.org.hk.
About The Hong Kong Institute of Chartered Secretaries
The Hong Kong Institute of Chartered Secretaries (HKICS) is an independent professional body dedicated to the promotion of its members' role in the formulation and effective implementation of good governance policies in Hong Kong and throughout China as well as the development of the profession of Chartered Secretary.
HKICS was first established in 1949 as an association of Hong Kong members of the Institute of Chartered Secretaries and Administrators (ICSA) of London. It became a branch of ICSA in 1990 before gaining local status in 1994.
HKICS is a founder member of Corporate Secretaries International Association (CSIA) which was established in March 2010 to give a global voice to corporate secretaries and governance professionals.
HKICS today has more than 5,600 members and approximately 3,200 students. For more information, please visit www.hkics.org.hk.
Source: The Hong Kong Institute of Chartered Secretaries