HOW TO PREPARE CS PROFESSIONAL ETHICS , GOVERNANCE AND SUSTAINABILITY FOR JUNE 2019 EXAM
How to Prepare CS Professional Ethics : Subject Overview:
For easier reference, we’ll call this subject as ‘Ethics’. This subject is considered the easiest in the 2nd group. It is purely theory; it consists of some chapters that are copy paste from company law like board committees and board formation etc. and there are no practical aspects too. Scoring exemption in this subject is quite easy. So, for clearing group 2 in one go, making this subject strong is important. This subject is divided into 2 parts-
PART A: Ethics and Governance (70 marks)
PART B: Sustainability (30 marks)
Only mugging up won’t help, you will have to understand the concept and only then will you be able to answer the questions in the exam.
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How to Prepare CS Professional Ethics : Objective of this paper in CS Professional:
This paper on Ethics, Governance and Sustainability has been introduced to provide knowledge on global development on these topics and best governance practices followed worldwide. This paper would help in understanding of national and international governance norms, ethical business practices, corporate sustainability etc.
Company Secretaries are the primary source of advice on the conduct of business. This can take into its fold everything from legal advice on conflicts of interest, through accounting advice, to the development of strategy/corporate compliance and advice on sustainability aspects. Hence, this subject would enable the students to prepare for the future when they step into the corporate world.
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How to Prepare CS Professional Ethics : What is expected from the student?
At this level, advanced knowledge of each topic is required and also students are required to acquire the knowledge of ethics, emerging trends in good governance practices and sustainability. Copying and pasting things written in module is a child’s job, CS professionals are expected to present the same in their way, how they have understood the concept.
How to Prepare CS Professional Ethics : Study Plan and Strategy
Firstly, selective reading of the chapters is a big NO. You can always sort the chapters as per their relevance, but avoiding some chapters is not recommended. Since this subject is divided into 2 parts, it becomes easier for you to get a move ahead.
You can start with PART B first as this will assure you of 30 marks by just reading 5 chapters. This will help you boost your confidence. Once you are done with PART B, pick up PART A. PART A is lengthy consisting of 11 chapters and will consume time hence plan properly and complete the small chapters first and those chapters that are related to company law. This way you assure yourself that you have completed 50% of the course. Then give rest of your time to the lengthy chapters. None of the chapters should be left out. One must also scan through the previous year’s question papers and their suggested answers to understand what the institute is expecting from you.
A subject does not become easy because people say so, it becomes easy after thorough revision. Hence, keep revising and since this subject is not that lengthy, finish it first.
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How to Prepare CS Professional Ethics : Language and Presentation:
You can write down answers in your own language but don’t forget to mention the important and technical words which are the crux of the topic.
Writing in paragraphs creates a positive impression on the examiner. Generalized and vague answers should be avoided as it reflects your low preparation of the subject. This problem can be overcome by writing practice and self examination. Neat and legible presentation is a must. Don’t do things that may irritate the examiner like skipping questions in between or writing something and then cancelling it.
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Chapter-specific guidance:Â Â
How to Prepare CS Professional Ethics : PART A
Lesson 1 – Introduction – Ethics and Governance
The objective of this study lesson is to enable the students to understand the inner conscience and its linkage to governance, concept of business ethics, ethics philosophy, scope of business ethics and advantages of ethics.
Lesson 2 – Ethical Principles in Business
The objective of this lesson is to enable the students to understand the relationship between organizational values and organizational climate on ethics, the role of Board of Directors in making the ethical climate of an organization, concept of ethics programme, ethics training and communication, ethical dilemmas etc.
Lesson 3 – Conceptual Framework of Corporate Governance
This chapter describes the importance and the elements of good corporate governance, need and importance of corporate governance. Besides, it also highlights the evolution of corporate governance in various countries of the world including India.
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Lesson 4 – Legislative Framework of Corporate Governance in India
After going through this lesson, students will be able to understand the legal framework in India, supporting/enforcing corporate governance practices in terms of transparency, disclosure etc. Legislative aspects pertaining to various corporate governance requirements like board structure, composition, powers of board etc highlighting the relevant provisions of Companies Act and SEBI Listing Regulations, 2015 are also discussed in this lesson.
Lesson 5 – Board Effectiveness – Issues and Challenges
The objective of this study lesson is to enable the students to understand the Board Composition and its effectiveness and various issues and challenges to board effectiveness through four well divided segments.
The 1st segment enables the student to understand the role of directors, types of boards, diversity in Boardrooms, governance functionaries etc.
The 2nd segment focuses on Board processes and Board charter.
The 3rd segment enables the students to understand the concept of Board responsibility, leadership development and related matters.
The 4th segment enables the students to understand the importance of director induction and development programmes, performance review etc.
Lesson 6 – Board Committees
The objective of the lesson is to enable the students to understand the need and advantages of management through board committees and the constitution and scope of various committees. It will familiarize the students about effective company management through delegation of power and responsibilities to various Board committees.
Lesson 7 – Corporate Governance and Shareholder rights
After going through this lesson, the students will be able to understand what the rights of the shareholders are and how it is important from corporate governance perspective.
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Lesson 8 – Corporate Governance and other Stakeholders
The objective of the study lesson is to enable the students to understand the changed concept from shareholder to stakeholder.
Lesson 9 – Risk Management and Internal Control
The objective of this lesson is to help students to understand internal control and risk management framework, definition and types of risks, risk management process, advantages of risk management etc.
Lesson 10 – Corporate Governance in Banks, Insurance and Public sector companies
The objective of the lesson is to enable the students to understand the legislative framework of corporate governance in Banks, Insurance and PSUs and also sector specific corporate structure.
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Lesson 11 – Corporate Governance Forums
After reading this lesson, students will gain knowledge about the forums which are active in promoting the culture of creativity and compliance among corporate.
Lesson 12 – Legislative Framework of Corporate Governance – An internal perspective
The objective if this lesson is to provide the students and international perspective in the emerging areas of corporate governance frameworks in different countries. This chapter examines and evaluates governance frameworks of some of the selected countries.
How to Prepare CS Professional Ethics : PART B
Lesson 13 – Corporate Social Responsibility
This chapter discusses the importance of adopting CSR in current business environment and the regulatory regime controlling the CSR practices, whether in India or abroad supplemented by case studies and best practices.
Lesson 14 – Sustainability
This lesson will enable the students to recognize the difference between CSR and Sustainability and the concept of Triple Bottom Line (TBL).
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Lesson 15 – Corporate Sustainability Reporting Frameworks
In this lesson, one will understand the meaning of sustainability reporting, its framework and guidelines. The study also covers some contemporary developments like integrated reporting.
Lesson 16 – Legal Framework, conventions, treaties on Environmental and Social aspects
The objective of this lesson is to enable the students to become aware of various conventions and treaties on environmental and social aspects like Brundtland Commission, United Nations Environment Programmes etc.
Lesson 17 – Principles of Absolute Liability
The objective of this lesson is to enable the students to understand the concept of absolute liability, applicability of Ryland Doctrine in India, Industrial disasters etc.
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How to Prepare CS Professional Ethics : How to Plan for examination:
Planning is the most important part for completing the syllabus on time. Plan which part you want to study first and in that also plan which chapters are of prime importance and need to be understood properly. Planning is critical exercise and may differ from person to person. Study plan should be developed by keeping adequate time margin for study revision.
How to Prepare CS Professional Ethics : Important Tips:
- Before the final exam, one should at least solve one test paper so as to know how much prepared are you and whether you are able to finish within the time limit of 3 hours.
- Revision is a must. Keep revising the subject at proper intervals.
- Don’t let your doubts build up. Get your doubts cleared as soon as possible.
- Writing practice is a must.
- If you start studying earlier, then you may make your own notes too.
- And one more thing, never ever give up. It is going to take lots of pain to study so much, but when this pain becomes a gain in the future, the happiness of that gain is beyond this universe.
YOU CAN AND YOU WILL DO IT!
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