ICSI 45th Annual Report: Highlights ESG Push, Governance Reforms, Guidance Notes and Easing Compliance
The Annual Report provides a snapshot of the current standing of the CS profession and its continued evolution as per changing times and policies
ICSI
ICSI
The Institute of Company Secretaries of India (ICSI) has released its 45th Annual Report along with audited consolidated accounts, providing stakeholders a comprehensive view of the state of affairs and the projected trajectory of the CS profession and its regulatory body.
With a membership of over 73,000 company secretaries, more than 10,000 in practice and a student base exceeding 3.5 lakh, the report reaffirms ICSI as a central pillar in India’s corporate governance, audit and compliance landscape.
The report, which pertains to the the financial year 2024–25 running from 1st April, 2024 to 31st March, 2025 highlights the presence maintained by the ICSI in numerous industries and sectors:
A key focus is ESG (Environmental, Social and Governance). During the year, the Institute organised national conferences and partnered with academic institutions to build awareness of ESG frameworks, signalling a shift in the role of governance professionals toward sustainability and non-financial reporting.
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The Report also details the increased focus of the Institute towards governance reforms and and their issuance of guidance notes and clarifications on provisions of the Companies Act, 2013, particularly those pertaining to loans, investments and compliance responsibilities.
Such initiatives are slated to highly benefit compliance professionals in interpreting and applying complex provisions and to maintain uniform governance practices across corporate entities.
Another core area of expansion was the enhanced deployment and usage of portals and digital tools for compliance.
The PMLA portal, renewal of the ComplyRelax MoU, and tie-ups for software such as InsiderLens and proCS SDD-C had aided members in managing compliance as per the insider trading rules instated by the Securities and Exchange Board of India (SEBI) and other statutory obligations.
ICSI also received recognition from SEBI as a Self-Regulatory Organisation (SRO) for its oversight role in certain securities market compliances, providing the Institute greater visibility within the securities ecosystem.
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The Report also details the representations made by ICSI on the draft Income Tax Bill, 2025, including the representations made by ICSI to include Company Secretaries within the definition of “Accountant” under the draft Income Tax Bill, 2025.
The Select Committee of Parliament maintained that the bill’s focus was on simplification of existing law, and such recognition would require a wider policy shift, however, ICSI has pledged to continue pressing for their inclusion.
The 45th Annual Report acknowledges all the achievements and challenges faced by the CS profession, including the need to balance increased compliance requirements with the capacity of smaller firms and individual practitioners. At the same time, the report outlines plans for the future, aligning with greater integration of technology, focus on ESG capacity building, enhanced global outreach and enhancement of uniformity in reviews.
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