Vishesh Sewa Aayog, a NGO for promoting professionalism in India invites you to make a presentation on objectives and functions of Secretarial Standard Board (SSB). Prepare a brief note on captioned topic.

The Institute of Company Secretaries of India (ICSI), recognising the need for integration, harmonisation and standardisation of diverse secretarial practices, has constituted the Secretarial Standards Board (SSB) with the objective of formulating Secretarial Standards. The Secretarial Standards Board (SSB) formulates Secretarial Standards taking into consideration the applicable laws, business environment and the best secretarial practices prevalent. Secretarial Standards are developed: in a transparent manner; after extensive deliberations, analysis, research; and after taking views of corporates, regulators and the public at large. The SSB comprises of eminent members of the profession holding responsible positions in well-known companies and as senior members in practice, as well as representatives of major Industry Associations viz, FICCI, CII and ASSOCHAM, representatives of regulatory authorities, such as the Ministry of Corporate Affairs, Securities & Exchange Board of India, Reserve Bank of India, Bombay Stock Exchange, National Stock Exchange of India Ltd. and the sister professional bodies viz. the Institute of Chartered Accountants of India and the Institute of Cost Accountants of India. The scope of SSB is to identify the areas in which Secretarial Standards need to be issued by the Council of ICSI and to formulate such Standards, taking into consideration the applicable laws, business environment and best secretarial practices. SSB will also clarify issues arising out of such Standards and issue guidance notes for the benefit of members of ICSI, corporates and other users. The main functions of SSB are: (i) Formulating Secretarial Standards; (ii) Clarifying issues arising out of the Secretarial Standards; (iii) Issuing Guidance Notes; and (iv) Reviewing and updating the Secretarial Standards/Guidance Notes at periodic intervals.