Speaking to reporters here, he said the private companies should also be mandated to have Key Managerial Personnel (KMP), comprising Managing Director, Chief Financial Officers and company secretaries under the Act and added ICSI had represented the Centre to have KMPs in private companies.
All companies with a capital of Rs 5 crore and above are required to have KMPs under the previous Companies Act, Sridharan said and made it clear that the secretarial audit would focus only on the non-finance aspects and would in no way overlap with the regular financial audit of a company.
Sridharan said ICSI would commence a three-year full-time integrated company secretaryship course on a pilot basis from next month, which would have 50 students, selected through an entrance exam, group discussion and interview.