Explain the establishment, objectives, scope and functions of the Secretarial Standards Board.

Establishment of Secretarial Standards Board and its Objectives 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. 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. Scope and Functions of the Secretarial Standards Board 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: Formulating Secretarial Standards; Clarifying issues arising out of the Secretarial Standards; Issuing Guidance Notes; and Reviewing and updating the Secretarial Standards/Guidance Notes at periodic intervals.