Difference between CS and ICWA: Company Secretary (CS) and Institute of Cost and Work Accountants (ICWA)
The role of a Company Secretary is to as a mediator between the Company and the Board of Directors. The objective of undergoing the course from Institute of Cost and Works Accountants of India is to gain expertise in the field of Cost Accountancy and Management Accountancy. It helps in enhancing cost management expertise. The regional councils of the institute are located in the four metros of India i.e. Delhi, Mumbai, Kolkata and Chennai.
CS Course and Opportunity
A Company Secretary is a professional and the major role played by him is to ensure whether the Company complies with all applicable laws and endeavors. The Company Secretary (CS) is a professional course which is conducted by The Institute of Company Secretaries of India (ICSI). To become a Company Secretary, the candidates need to pass the Foundation Programme, Executive Programme, and Professional Programme. Candidates who have passed their 10+2 are eligible to apply for the Foundation Programme. Candidates who have cleared the Executive Programme can apply for the Professional Programme. A Company Secretary can get employed in government accounts or law departments OR he can become a Managing or Director Chairman of a Company and be a part of the honored Board of Directors of a Company.
ICWA Course and Opportunity
The ICWAI course is divided into three parts. The first part is the foundation course, where the minimum qualification is 10+2. Candidates who have appeared for the 10+2 exam and are awaiting results can appear for the foundation course. On passing the foundation course the students are eligible for the intermediate course. Students who have completed their graduation need not appear for the foundation test. They can directly appear for the intermediate course. On clearing the intermediate course students can appear for the final course. Those interested in corporate life can hold positions like Internal Auditor, Accountant, Financial Controller, Finance Manager and Cost Controller etc after completing the course. They can also go for for Self entrepreneurship in areas like Mandatory Cost Audit, Consultancy assignments, Excise Audit etc.
Key Difference between CS and ICWA
ICWA specializes in handling the accounts, bookkeeping and audit of firms and corporate while the CS’s handles the secretarial matters relating to a corporate. ICWA involves collection; assimilation and analysis of financial information from all areas of an organization while the primary job of a Company Secretary is that of an advisor for legal matters. They act as the mediators between the company and its Board of Directors, shareholders, the government and the regulatory authorities. Company Secretaries can find employment in government accounts or departments of law.
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