The Registration of Certified Public Secretaries Board has partially exempted advocates and holders of law degrees from sitting the 18 papers in the CPS exams.
The LSK had in January petitioned the board to consider exempting lawyers from taking the entire CPS papers, arguing they are captured in law degree training.
Lawyers have lost their bid to be exempted from taking and passing Certified Public Secretary (CPS) exams for clearance to practice as company secretaries.
The Registration of Certified Public Secretaries Board (RCPSB) has partially exempted advocates and holders of law degrees from sitting the 18 papers in the CPS exams.
The Law Society of Kenya had in January petitioned the board to consider exempting lawyers from taking the entire CPS papers, arguing they are captured in law degree training.
From July, lawyers with over 10 years’ experience will be exempted from 12 papers or part one and two while those with legal work knowledge above three years will now sit 10 papers.
Lawyers without work knowledge will be exempted from four of the 18 papers while advocates with less than three years’ experience will sit 11 papers.
Company secretaries ensure companies’ compliance with statutory and regulatory requirements as well as ensuring that decisions of the board of directors are implemented.
Their role will become prominent this year as the Capital Markets Authority (CMA) implements a stringent Code of Corporate Governance Practices.
The code demands diversity and independence in the composition of boards, verification and protection of financial reports as well as timely and balanced disclosure of material information — a critical plank in avoiding regulatory penalties.
This looks set to up demand for company secretaries as their numbers and schools offering the certificate shrink.
“CS is a growing profession in light of the growing demand for governance practitioners,” said Bernard Kiragu, managing partner at Scribes Services — a corporate governance consultancy firm.
The consultancy has opened Traction School of Governance, which offers short courses on ethical corporate practices and certified secretary certificates, which are examined by the Kenya Accountants and Secretaries National Examinations Board
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