Independent Directors play an important role of a watchdog. They ensure that the cases of corporate misgovernance do not occur. Independent Directors or Non-Executive Directors join the board of directors in different capacities. They come from different backgrounds and have diverse skill sets. There is also an increasing demand for Independent Directors with impeccable records. Realizing the increasing complexity among the working of Independent Directors, the Ministry of Corporate Affairs and the Indian Institute of Corporate Affairs (IICA) has designed online courses. These e-courses aim to refresh the basic knowledge base and enhance the efficiency of Non-Executive Directors.
Participants will be trained to be globally oriented and be more focused in their pursuit of knowledge. Through online courses, the Ministry of Corporate Affairs aims at building an effective company board, which is aware of all the aspects of corporate governance. Ministry also wants to cater to the future demands for professional, knowledgeable, and effective Independent Directors. Online courses are a consolidation of relevant clauses of the Companies Act, 2013, Listing Obligations and Disclosure Requirements (LODR) of SEBI, and different case studies. These online courses will help in shaping professionalism among Non-Executive Directors through the “International Best Practices”.
Courses are divided into 2 categories- Board Essentials Courses and Board Practice Courses
Each category of online courses is further divided into bite sized or small modules. These modules are designed to engage learners and provide comprehensive understanding of the topic.
Post-assessment quizzes will appear at the end of each module to check learner’s retention. These questions will comprise of different interactive activities.
Independent Directors may access the online courses anytime, anywhere and from any device they use. Online courses are accessible from desktop, smartphones, and tablets.
Incorporation of Companies
Accounts of Companies
Debentures and Bonds
Acceptance of Deposits
Prospectus and allotment of shares
Related Party Transactions
Audit & Auditors
Mergers Amalgamation (M&As)
Institution of Directors
Duties of Directors
Liability of Directors and KMP
Oppression & Mismanagement
Penalties and compounding of offences
SEBI (Listing Obligation and Disclosure Requirements)Regulations, 2015 (LODR)
Secretarial Audit & Compliances
Secretarial Standard 2
Corporate Social Responsibility
How to Read Balance Sheet?
Decoding Financial Statements
Professional Ethics for Independent Directors
Due Diligence Before Joining a Board
Board Effectiveness & Culture
Building Resilient Company: Board’s Role
Governance of Committees
Governance of Strategy
Managing CSR & Engaging Stakeholders
Managing Trough Financial Ratios
Evaluation of Independent Directors
Case Study - WorldCom
Case Study - Enron Corporation
Case Study - VOLKSWAGEN
Case Study - Olympus
Case Study - Hydro One
Case Study - Satyam
Case Study - Maruti Suzuki
Online Courses offer a vista of opportunities to the Independent Directors and the professionals who are willing to join the pool of Independent Directors. These online courses have the following gamut of advantages:
By taking these online courses, Independent Directors and future aspirants will have a strong understanding of corporate governance and they will be aware when they need to blow the whistle.
Independent Directors coming from different backgrounds may develop integrated thinking and skill through online courses.
Independent Directors may learn about the right approach that they need to follow at the time of conflict or crisis through online courses.
Different provisions and sections of the Companies Act, 2013, SEBI LODR, case studies, etc. are consolidated in one place for easy access to the participants.
Case studies on the world’s biggest corporates are available to provide a concentrated point of reference for the Independent Directors.
The Indian Institute of Corporate Affairs (IICA) will gradually revise the online courses section of the portal and keep on uploading more courses from time-to-time.