|12 Sep 2018||Letter to HKICS Students - New ICSA/HKICS Qualifying Programme|
IMPORTANT NOTICE. PLEASE READ CAREFULLY.
As you are aware, to qualify as a member of both The Institute of Chartered Secretaries and Administrators (ICSA) and The Hong Kong Institute of Chartered Secretaries (the Institute or HKICS) in Hong Kong and Mainland China, HKICS students will have to successfully pass the examinations of the International Qualifying Scheme (IQS) and meet with other necessary requirements. We write to inform you that, with effect from 1 January 2020, the New Qualifying Programme (NQP) will replace the current IQS. The first examination of the NQP will be held in June 2020.
New Qualifying Programme
The New Qualifying Programme (NQP) will comprise seven (7) subjects with two electives. Please find the details below:
Hong Kong Corporate Law
Corporate Secretaryship and Compliance
Interpreting Financial and Accounting Information
Boardroom Dynamics or Hong Kong Taxation (electives)
The Institute will announce details of the syllabus, reading lists, study packs and pilot papers for all the subjects in the NQP to all students in the near future.
Students who successfully complete the NQP will be admitted as Graduates of the ICSA and HKICS and upon eligibility to be elected as Associates, will be awarded the dual designation of Chartered Secretary and Chartered Governance Professional.
All students under the current IQS will be transferred to NQP with effect from 1 January 2020. They will also be awarded the dual designation of Chartered Secretary and Chartered Governance Professional when they are elected as Associates, after completing either the IQS or NQP or combination of both and becoming Graduates of the ICSA and HKICS.
What is the Dual Designation
Chartered Secretaries are senior professionals trained in law, finance, governance and strategy. They principally work as company secretaries or in other similar roles. They are obliged to uphold the highest standards of governance practice and ethical behaviour.
Highly valued by employers for their ICSA and HKICS training, Chartered Secretaries are the primary source of advice on governance to their board. Broadly, this can span everything from legal and accounting advice, to the development of strategy and corporate planning.
To meet the needs of today’s businesses in Hong Kong, Mainland China and elsewhere, a second professional qualification has been introduced by ICSA from May 2018.
Chartered Governance Professionals qualified by the ICSA and HKICS have a deep understanding of governance usually across the listed company, public and/or not-for-profit sectors. They also have a deep understanding of risk management and how to apply it across theirorganisation.
Chartered Governance Professionals often act as their organisation’s company secretary but also often have roles as risk managers, compliance managers or non-executive directors. They are obliged to uphold the highest standards of governance practice and ethical behaviour.
The last examination under the current IQS will be the December 2019 examination and we would encourage all existing students to try and complete their outstanding IQS papers by then. Students who have not completed their IQS examinations following the release of the IQS December 2019 examination results will be transferred to the NQP.
The transitional arrangements from the existing IQS to the NQP are as follows:
The Institute will communicate with all existing students who will be transferred to the NQP on the outstanding subject(s) they will be required to complete under the new programme in January 2020.
We trust that the changes in the qualifying programme and the addition of the new Chartered Governance Professional designation will go a long way to ensure that ICSA and HKICS are educating and supporting our students and members to equip them with skills and abilities demanded by the 21st century job markets.