Raising the Ethical & Governance Standards of Hong Kong
HONG KONG, Dec. 5, 2013 /PRNewswire/ -- The Hong Kong Institute of Chartered Secretaries (HKICS) publishes The Essential Company Secretary setting ethical and governance standards for all Hong Kong company secretaries.
In view of the increasing complexity of the business environment and the recent corporate malaise flowing from lapses in governance in Hong Kong, HKICS saw it fit to underscore the ethical and governance requirements of the profession, and thereby setting standards for company secretaries being keeper of the conscience of companies.
"As a one-stop Guide to the essential duties and responsibilities of company secretaries in Hong Kong, The Essential Company Secretary reiterates that Chartered Secretaries, as professionals, are custodian of corporate governance and the conscience of the company," said Ms Edith Shih FCIS FCS(PE), HKICS President.
In contrast to Chartered Secretaries, along with accountants and lawyers being qualified to be company secretaries of listed companies in Hong Kong, anyone can be company secretary of private companies. This means that other than reputable company service providers providing Chartered Secretaries for the role, the situation is a free-for-all for others.
Bearing in mind this weakness, HKICS has expanded the remit of The Essential Company Secretary, first published in 1994, to private companies, with a view of setting standards for these professionals. "Everyone has their role to play in promoting good corporate governance practices; The Essential Company Secretary serves as a practical reference manual for company secretaries in Hong Kong in discharging their duties," added Ms Shih.
To obtain a soft copy, please visit HKICS website at http://www.hkics.org.hk under "Publications".
