New Syllabus

INSTITUTE OF CHARTERED SECRETARIES
& ADMINISTRATION OF NIGERIA

(Established in 1966 and Chartered by ICSAN Act No. 19 of 1991)
Professional Programme
Students’
Handbook
ICSAN... The Hub of Governance Professionals

A polished performer
When you aim high

combining alien worlds
don’t crack under pressure
Great things happen when

the right people get together
...Model of efficiency
Be a Chartered Secretary And Administrator

Stand Out Dis nctly From The Crowd
For Registra on Details, Call Now
INSTITUTE OF CHARTERED SECRETARIES

& ADMINISTRATION OF NIGERIA
Plot 6, Elephant Cement Way, CBD Alausa, Ikeja. P.O. Box Marina
Lagos. or P.O. Box 15702, Ikeja, Lagos.
Tel: 08145647215, 08143085363
E-mail: [email protected] [email protected]
website: ww.icsan.org
I N S T I T U T E O F C H A R T E R E D S E C R E TA R I E S A N D A D M I N I S T R ATO R S O F N I G E R I A ( I C S A N )
i
ii
Content Content
Introduc on 2
Professional Programme Part 1 Syllabi
Financial Accoun ng 7
Strategic and Opera ons Management 10
Management Accoun ng 14
Corporate Law 19
Professional Programme Part ll Syllabi

Governance: Public and Private not for profit 25
Corporate Administra on and Risk Management 31
Financial Management and Strategy 38
Corporate Secretaryship and board Dynamics 44
1
PROFILE
INTRODUCTION
The Ins tute of Chartered Secretaries and Administrators of Nigeria (ICSAN) is a professional
body dedicated to excellence in Corporate Governance and Public Administra on. It is an
offshoot of the Interna onal Professional Body with its headquarters in London and divisions and
associa ons in the Commonwealth Countries. The interna onal body was founded in 1891 and
received Royal Charter in 1902. The Ins tute in Nigeria was established in 1944 as an Associate
of the interna onal body. It was later incorporated under the Companies Act of 1968. It was
granted a Charter by Act No. 19 of 1991 (formerly Decree No. 19 of 1991).
The Ins tute of Chartered Secretaries and Administrators of Nigeria (ICSAN) is the leading
recognised professional body in Nigeria dedicated to enhancing the status and prac ce of
Corporate Governance and Public Administra on. The ICSAN educa onal and professional
structure is dedicated to the task of broadening the professional horizons of tomorrow's
managers by providing programmes on a wide range of subjects that lead to a qualifica on which
is na onally and interna onally recognised. The Ins tute is a member of the Corporate
Secretaries Interna onal Associa on [CSIA], a Geneva registered global organiza on dedicated
to developing and growing the study and prac ce of Secretaryship to improve professional
standard, the quality of governance prac ce and to improve organiza onal performance. It is a
“professional qualifica on that results from professional educa on”.
THERE ARE FOUR ESSENTIAL DISCIPLINES IN THE ICSAN QUALIFICATION. THEY ARE:
Corporate Governance and General Management.

Law and Company Secretarial Prac ce;
Financial Accoun ng and Management;
Informa on Technology and Management Informa on System;
Graduates and members of the Ins tute are found in every sector of the economy and
administra on as Company Secretaries, General Managers, Finance Managers, Chief
Accountants, Heads of Finance, Directors of Administra on, Chairmen and Chief Execu ves of
Public and Private Companies, and in the Civil Service, Parastatals and the Armed Forces.
THE INSTITUTE'S OBJECTIVES ARE:
· To develop and promote the professional ideals, standards, ethics and code of conduct and
the interests of the Chartered Secretaries and Administrators.
· Encourage poten al Chartered Secretaries and Administrators to acquire professional

qualifica on, and organise con nuing educa on programme and refresher courses for the
profession.
· Create opportuni es for social interac on, communica on, and solidarity among the
members.
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To develop and promote the professional ideals, standards, ethics and code of conduct
and the interests of the Chartered Secretaries and Administrators.
WHO IS A CHARTERED SECRETARY AND ADMINISTRATOR?
Who is a Chartered Secretary and Administrator?

A Chartered Secretary and Administrator is a mul -skilled, and versa le professional, hence
he/she can fit into any part of an organisa on where finance, administra on, secretaryship, data
management and related jobs, are handled.
It should be noted that the law recognises the importance of the role of the Company Secretary
and made it mandatory for every public Company to have a Company Secretary with requisite
knowledge. Only the Chartered Secretary's qualifica on, specifically addresses the
requirements of this role.
The func ons of the Chartered Secretary would vary from company to company, establishment
to establishment and from prac ce to prac ce. S/He has no universal role specifica on. Among
his/her most important a ributes are versa lity, broad business knowledge and administra ve
ability in a great variety of organisa ons.
HOW TO BECOME A CHARTERED SECRETARY
1. Successfully Complete Our Qualifying Examina ons

Once you have successfully completed the exams and paid your graduate fee you will be
given the grade Graduate and designated the tle Grad ICSAN which you can use a er your
name.
2. To become a full Member of ICSAN and a Chartered Secretary you also need to
demonstrate a certain level of professional experience. Many students' study while they
work and are able to gain their professional experience at the same me as studying.
STUDENT REGISTRATION
Student Registra on
To register as a student and sit for the professional examina ons of the Ins tute, interested
persons must possess a Higher Na onal Diploma (HND), Degree, Cer ficate or a recognised
professional qualifica on. Exemp ons are granted according to entry qualifica on(s).
THE INSTITUTE'S QUALIFYING EXAMINATION SCHEME
ICSAN Professional Examina ons

The course consists of 16 courses (subjects) separated into 4 programmes:
§ Founda on
§ Pre- Professional [Intermediate]
§ Professional Programme Part 1 and;
§ Professional Programme Part 2.
All the courses are integrated and progressive, so that knowledge gained at an earlier stage is
a necessary founda on for later parts.
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STANDARD
By way of Benchmark, the rigor of ICSAN examina on scheme is structured as follows:
Founda on - equivalent to second year of a three-year
degree programme
Pre – Professional - equivalent to a first degree
Professional Part 1 & 2 - equivalent to a Master's Degree.
The Federal Ministry of Educa on has held that holders of the ICSAN Professional
examina ons with first degree or HND as entry qualifica on would be rated/placed on two (2)
advanced grade levels above the one being run by the first-degree holders in the labour
market.
The rigor of the examina on scheme at the Professional Programme level is that of a
postgraduate award.
The 16 subjects of professional examina on scheme are as follows:
FOUNDATION PRE – PROFESSIONAL
Communica on Skills Business Law

Economics Managing Informa on Systems
General Principles of Law Introduc on to Accoun ng
Quan ta ve Techniques Management Principles and Prac ce
PROFESSIONAL PROGRAMME PART I PROFESSIONAL PROGRAMME PART II
Strategic and Opera ons Management Corporate Administra on and Risk Management
Corporate Law Corporate Secretaryship and Board Dynamics
Financial Accoun ng Financial Management and Strategy
Management Accoun ng Governance: Public, Private and Not for Profit
ENTRY REQUIREMENT
SSCE, GCE O'levels, OND, NCE, Degrees of any University or H.N.D of any Polytechnic recognised
by the Council. MSc, MBA, ACA, ACCA, ACMA or any other professional qualifica ons recognised
by the Council.
EXEMPTION
Graduates with related degrees i.e., B.Sc. Accoun ng, B.Sc. Business Administra on and B.Sc.
Banking & Finance, LLB are exempted from all the courses in Founda on, Pre – professional and
Professional Part 1 programmes.
Non-related degrees are exempted from Founda on and Pre – professional, Management
Accoun ng and Strategic and Opera ons Management in Professional Programme Part I.
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EXAMINATION DATES AND REGISTRATION
Examina ons for the Programme are held in June and December of every year
To enter for the examina ons, students must register through their portals on or before the
closing dates.
The closing date for the First diet is: 30th April and 31st October for the second diet
ASSESSMENT FORMAT
These are three-hour, closed-book exams.
The exam paper is split into two sec ons: Sec on A is compulsory, and candidates choose 3
ques ons to complete from a choice of 5 in Sec on B. The marks allocated for all ques ons that
the candidate is required to complete totals 100. The pass mark is 50%.
The marks awarded for each ques on are shown at the end of each ques on. If a ques on is
divided into parts; the marks awarded for each part are usually shown. In this way, you should be
able to discern how much me to allocate to each part of a ques on.
SECTION QUESTIONS MARK ALLOCATION QUESTION TYPE RECOMMENDED

TIME FRAME
A One Compulsory 40 marks – 4 marks Short-answer, tes ng 70 minutes
ques on divided into per ques on part breadth of knowledge
10 parts across the syllabus
B Candidates choose 3 20 marks per Long-answer, can split 110 minutes – approx.
ques ons from a ques on into separate 35 minutes per
choice of 5 connected parts ques on
Total 4 Ques ons 100 marks N/A 3 hours
Recommended Study texts

The Ins tute issues fully integrated and comprehensive study texts in printed form for the
Professional Programme. The study texts are wri en to the syllabus specifica on and contain self-
assessment tests.
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For further enquiries please contact.
The Ins tute's Secretariat

Plot 6, Elephant Cement Way,
Beside Elephant Cement Building Alausa
P.O. Box 15702, Ikeja, Lagos
Tel; 08145647215, 08143085365
Or the following addresses: -
Ibadan Abuja
ICSAN, Ibadan Office ICSAN, Abuja Office
Suite One, Genesis Building Suite 10, Jinifa Plaza,
Opposite YMCA, 21 Joyce B Road Plot 1014, Samuel Ademulegun Street,
Off Ring Road (By Mobil Junc on) Central Area, Abuja.
Ibadan, Oyo State Phone: 08130201177
Phone: 08028958562
Port – Harcourt Office Enugu Office
ICSAN, Port Harcourt Office ICSAN, Enugu Office

Manufacturers Associa on of Nigeria (MAN) 1st Floor, Right Wing, Rear Building
House, 26, Danjuma Drive, Trans Amadi, 77 Ogui Road, Enugu, Enugu State
Port- Harcourt Rivers State. Phone: 08090659139
Phone:08065064731
Uyo Office Benin Office
Mboho Mkparawa Ibibio 90, Akpakpava Road,

Interna onal Secretariat, Beside Stanbic Bank
Udo Udoma Avenue, Uyo Benin city, Edo State
Akwa-Ibom State. Phone: 08033564704
Phone:08032384111
Umuahia Kaduna
C/O Pastor G. C.Wokoma, ACIS C/O Barrister Musa Muhammed, ACIS

Goochukad Resource Services Limited N.K. 5 Junc on Road,
1, Ojike Street, Umuahia, Abia State. Near Stadium Roundabout,
Phone:08090651537 Kaduna
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PROFESSIONAL PROGRAMME PART I SYLLABI
The Professional examina ons are made up of two interrelated and professional programmes.
These are:
1. FINANCIAL ACCOUNTING
A competency in Financial Accoun ng in a number of contexts is essen al to a Chartered
Secretary. Exper se in the subject area is required to contribute to the analysis and
interpreta on of corporate financial performance and results. The Financial Accoun ng course
aims to develop the skills and knowledge required for Chartered Secretaries to carry out their
professional responsibili es.
AIM
In professional prac ce, the Chartered Secretary has to be competent in Financial Accoun ng to a
high standard, and in a number of different contexts. Exper se is demanded in the boardroom
se ng to contribute to the analysis and interpreta on of corporate financial performance and
results. Corporate repor ng in compliance with legal and stakeholder requirements, including
financial statements, is a core responsibility of the Chartered Secretary. In public prac ce, and in
many organisa ons, the Chartered Secretary is also some mes called upon to fulfill the role of
Corporate Accountant. The aim of the course is to develop the knowledge and skills necessary for
the Chartered Secretary to carry out these professional responsibili es.
LEARNING OUTCOMES
At the conclusion of this course, the candidate will be able to:

▪ Understand the language, concepts and use of financial accounts and reports;
▪ Iden fy and u lise the sources of accoun ng data and informa on;
▪ Understand and apply interna onal standards of accoun ng prac ce;
▪ Prepare financial statements for different forms of organisa on in compliance with legal
and regulatory requirements;
▪ Apply financial informa on and statements in corporate repor ng;
▪ Undertake the corporate accoun ng role for employers and clients;
▪ Contribute to boardroom analysis of corporate financial performance.
PRE-REQUISITE LEARNING
This course is a component of the ICSAN Professional Programme Part I. It is designed to enable
aspiring Chartered Secretaries to:
a) Demonstrate required standards of competence for professional prac ce in a key
discipline, and
b) Acquire essen al knowledge and skills to support the relevant components of the
Professional Programme.
The course specifica on is based on the assump on of some relevant prior knowledge, and
candidates will find it helpful to have familiarised themselves par cularly with:
An introduc on to the principles of book-keeping and accountancy

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LEARNING CONTENT
Ø THE CONCEPTUAL AND REGULATORY FRAMEWORK FOR FINANCIAL REPORTING.

The need for regula on.
Sources of regula on-Accoun ng standards – Extant IAS and IFRS, company law
and rules of the relevant stock exchange.
Corporate governance and external audit process.
Social and environmental repor ng.
The Interna onal Accoun ng Standard Board (IASB) Conceptual framework.
ü The underlying assump ons
ü Users and their informa on needs.
ü Objec ve of general-purpose financial statements.
ü Qualita ve characteris cs and usefulness of financial informa on.
ü The elements of financial statements.
ü Recogni on of assets, liabili es, income and expenses in the financial
statements.
ü Accoun ng concepts and bases.
ü Concepts of capital maintenance.
Ø PREPARATION OF FINANCIAL STATEMENTS FOR SINGLE COMPANIES.

General features of financial statements.
Structure and content of statement of financial posi on.
Structure and content of statement of profit or loss and other comprehensive
income.
Statement of changes in equity.
Notes to the financial statements.
Statement of cash flows.
Accoun ng for transac ons in financial statements.
ü Events a er the repor ng period.
ü Accoun ng policies, changes in accoun ng es mates.
ü Revenue recogni on including construc on contracts
ü Nature measurement and recogni on of inventory.
ü Tangible non-current assets.
ü Government grants.
ü Intangible assets.
ü Impairment of assets.
ü Accoun ng for provisions, con ngent assets and con ngent liabili es.
ü Treatment of taxa on in financial statements; current and deferred
taxa on.
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§ Repor ng substance of transac ons.

ü The forms of crea ve accoun ng.
ü Related party transac ons.
ü Revenue.
ü Leases.
Accoun ng for employee benefits
Shares based payments
Ø PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS INCLUDING

ASSOCIATES AND JOINT VENTURES.
Legal and regulatory framework for prepara on and presenta on of
consolidated financial statements.
Consolidated statement of financial posi on involving only one subsidiary
Consolidated statement of profit of loss and other comprehensive income
involving only one subsidiary
Investment in associates and joint ventures.
Ø FINANCIAL STATEMENT ANALYSIS AND EVALUATION.
Limita ons of financial statements
Using ra os for Companies Trend Analysis, Comparison with industry
average, comparison for similar Companies for the same period.
Iden fy and calculate categories of financial ra os.
ü Profitability ra os.
ü Working capital and efficiency ra os.
ü Liquidity ra os
ü Debt ra os
ü Investor's ra os.
Segment repor ng.
Analysis of statement of cash flows.
Earnings per share.
Limita ons of interpreta on techniques.
Accoun ng for Not For Profit en es
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RECOMMENDED STUDY TEXTS
ICSA Financial Accoun ng (6th Edi on)

Frank Wood’s & Sangster Business Accoun ng (10th Edi on) Vol. 1 & 2
Robert O. Igben Financial Accoun ng Made Simple (Book 2) ROI
Publishers Lagos
Ken Hoyle & Geoffrey Business Sta s cs & Accoun ng Made Simple
Onafowokan Oluyombo Financial Accoun ng With Ease
Philip Cahill Elementof Accoun ng M
( cGraw Hill)
Ajileye J. O. Ade fa Get Your Financial Accoun ng Right Book 2, Hadley Lagos
Anao A. R. An Introduc on to Financial Accoun ng
Inanga E. I. Principlesof Accoun ng, Heinemann
Dodge R. Founda onof Business Accoun ng- Chapman & Hill Press
Vickery B. G Principles & Pracce of Bookkeeping & Accoun ng
Donnington Press
A.O. Akinduro Basic Accoun ng, (Spe n) Akure Nigeria
Akeju Financial Accoun ng Volumes I & II
JBA Ltd, Lagos
IASB Interna onal Financial Repor ng Standard
Ø 2.STRATEGIC AND OPERATIONS MANAGEMENT

Aim
The aim of the course is to develop knowledge and understanding of key principles and
prac ces in management, to equip the aspiring Chartered Secretary for both the strategic
and corporate contexts of the professional role.
LEARNING OUTCOMES

Understand and apply strategy theory, models and language to contribute to boardroom
decision making;
Understand and apply organisa on theory and best prac ce in contribu ng to corporate
management;
Understand and apply leadership theory and best prac ce in the func onal role and
leadership of teams.
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aspiring Chartered Secretaries to:
a) Demonstrate required standards of competence for professional prac ce in a key

discipline, and
b) Acquire essen al knowledge and skills to underpin the relevant components of the
Professional Programme.
Evidence of assessed knowledge and understanding must be demonstrated through the

Ins tute's examina ons, or those of equivalent qualifica ons which have been approved as
mee ng the Ins tute's required curriculum and standards.
The course specifica on is based on the assump on of some relevant prior learning in
management.
LEARNING CONTENT
Ø THE NATURE OF STRATEGY AND PLANNING

Defini on of strategy
Strategy as planning
The nature of strategic management
Emergent strategy
Strategic management in different contexts
ü Small firms
ü The Mul na onal Corporate Organisa on
ü The public sector
ü The Professional Organisa ons
ü Other Not For Profit making organisa on
Ø THE CORPORATE ENVIRONMENT

Vision, Mission and Purpose
Corporate Social Responsibility and Sustainability
Business Ethics
Iden fying and Conforming to Relevant
Stakeholders' analysis, Expecta on and Power
Measures for Assessing Organisa onal Performance and Effec veness
Strategies for Managing Human Capital and Opera ons Performance
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Ø STRATEGIC ANALYSIS AND CHOICE

Strategic Analysis of Organisa ons
External and Internal Environment
SWOT (Strengths, weaknesses, opportuni es & threats) of organisa ons and how to
determine them)
Strategic decisions in func onal areas (Finance, Marke ng, Produc on and
Personnel)
Ø UNDERSTANDING THE ORGANISATION CULTURE AND STRUCTURE

Defining Organisa onal Culture
Defining Organisa onal Structure
Determinants of Organisa onal Culture and Structure
Factors Influencing Organisa on Structure & Culture
Culture & Organisa onal Management
Organisa onal Culture and Na onal Culture
Ø MANAGING CHANGE
The Nature of Change
Change Agents and Major Forces influencing Change
Strategies for Managing Organisa onal Change
Resistance to Change
Contemporary Change Issues
Ø MANAGING COMMUNICATION
What is Communica on?
Func ons of Communica on
Formal and informal Communica on
The Communica on Process
Direc ons of Organisa onal Communica on
Barriers to Effec ve Communica on
Contemporary Issues in Communica on
Ø OPERATIONS MANAGEMENT
Opera ons Planning:
Product and process design
Capacity Planning Strategies
Aggregate Planning Models
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Ø MANAGING QUALITY
What is Quality?
Objec ves of quality control programmes
Strategies for controlling quality'
Inspec on
Sta s cal Quality Control
Process Control
Ø MANAGING INFORMATION, KNOWLEDGE AND LEARNING

Managers and the use of Informa on
Types of Informa on System
Informa on System Strategy
Strategies for Informa on Management
Knowledge Management and Learning
Control
Ø THE NATURE OF LEADERSHIP

Defini on of Leadership
Theories of Leadership
Leadership and Followership
Leadership and Power
Ø GETTING THE MOST FROM PEOPLE

An Overview of Individual Behaviour
What is mo va on?
Theories of mo va on
Prac cal Applica on of Theories of Mo va on
Job Sa sfac on and its determinants
Ø BUILDING AND DEVELOPING TEAMS

Reasons why people join groups or team
Groups and their usefulness to the organiza on
Types of teams at work
Stages of group development
Founda on of group behaviour
Group-group behaviour
Strategies for crea ng effec ve teams
Effec ve team work to organisa on
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Ø MANAGING PERFORMANCE
Performance Management
Methods of Managing Employees' performance
Issues with Performance Evalua on
Organiza onal Performance and Effec veness
1 Lomash Sukul Business Policy and Strategic Management

2 Burton G. Management Today: Principles ndaPrac ce
3 Hoisington Implemen ng Strategic Change
4 Bellon Compe ng Through Innova on Essen– al Strategic
For Small and Medium Size Firm (2004)
Strategic Management
5 Stacey, R.D.
& Organisa onal Dynamics
6 Ituwe, C.E. Strategic Management: Theory &Prac ce
7 Heerkens Project Management
8 Lewis Fundamentals of Project Management
9 ICSA Strategic and Opera ons Management
3. MANAGEMENT ACCOUNTING
Aim
The Chartered Secretary prac ces within the se ng of both strategic (boardroom) and
opera ons management. A command of the concepts and prac ces of management
accoun ng is crucial to fulfilling these responsibili es.
The aim of the course is to develop the knowledge and skills necessary for the Chartered
Secretary to employ the principles and prac ces of management accoun ng in strategic
LEARNING OUTCOMES

Understand the language, concepts and applica ons of management accoun ng;
Undertake the prepara on and presenta on of management accoun ng informa on for
corporate decision-making purposes;
Interpret management accoun ng informa on for strategic and opera onal purposes;
Handle budget planning and management responsibili es;
Undertake the management accoun ng role for employers and clients.
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This course is a component of the ICSAN Professional Programme Part I. It is designed to

enable aspiring Chartered Secretaries to (a) demonstrate required standards of
competence for professional prac ce in a key discipline, and (b) acquire essen al
knowledge and skills to underpin the relevant components of the Professional
Programme.

Ins tute's examina ons, or those of equivalent qualifica ons which have been approved
as mee ng the Ins tute's required curriculum and standards.
The course specifica on is based on the assump on of some relevant prior cer ficated
knowledge, and candidates will find it helpful to have familiarised themselves par cularly
with:
An introduc on to the principles of book-keeping and accountancy.
LEARNING CONTENT
THE BASICS OF MANAGEMENT ACCOUNTING
Ø THE NATURE OF MANAGEMENT ACCOUNTING

The purpose of Management Accoun ng
Comparison between Management Accoun ng and Financial accoun ng
The Management Accountant
Ø THE CONTEXT OF MANAGEMENT ACCOUNTING

Manufacturing and Extrac ve Industry
Service Industries
Mul na onal Management Accoun ng
Taxa on – Taxes on Business Profits and Turnover
Ø INFORMATION FOR DECISION-MAKING, PLANNING AND CONTROL

Management Accoun ng Informa on for Decision-Making
Iden fying the relevant Costs for Decision-Making
The Relevant Costs for Different Types of Decision
Management Accoun ng and the Planning Process
Control and Appraisal
Ø THE NATURE OF COSTS

The Defini on of Costs
The Impact of Different Time Horizons on Cost Defini ons
Short-Term Cost Behaviour
Medium-Term Cost Behaviour
Long-Term Cost Behaviour
Cost Classifica on
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Opportunity Cost Revisited

Postscript on Cost Defini ons
SHORT TERM PLANNING AND DECISION MAKING
Ø INTRODUCTION TO COST-VOLUME-PROFIT (CVP) ANALYSIS

The Contribu on Concept
Breakeven Point for Single Products
Breakeven Charts
Breakeven Point for Mul ple-Product Businesses
Breakeven Calcula ons in Service Industries
The Precondi ons, Assump ons and Limita ons of CVP Analysis
Using CVP Analysis for Profit Planning
Contribu on in Retail Organiza ons
Ø COST-VOLUME-PROFIT (CVP) ANALYSIS APPLICATIONS AND SENSITIVITY ANALYSIS

Using CVP Analysis to Assist Managers to make Pricing Decisions
Using CVP Analysis to Assist Managers to make Short-Term Output Decisions
Decisions to Accept or Reject a Special Order
Make or Buy and Outsourcing Decisions
Sensi vity Analysis
Ø OTHER SHORT-TERM PLANNING AND DECISION-MAKING TECHNIQUES

Op mizing the use of Scarce Resources
Differen al Cos ng
Using Standard Costs for Short-Term Planning and Decision-Making
Just-In-Time (JIT) Inventory Systems
MEDIUM –TERM PLANNING & DECISION MAKING
Ø MARGINAL COSTING AND ABSORPTION COSTING

Cos ng Systems-General Considera ons
Marginal Cos ng
Absorp on Cos ng
Comparison between Marginal and Absorp on Cos ng
Ø ACTIVITY-BASED COSTING
Problems with Tradi onal Cos ng Systems
Ac vity-Based Cos ng
The Charging and A ribu on of Common Costs
16
Ø BUDGETING
Aims of Budge ng
Budge ng Principles
The Mechanics of Preparing Budgets
Ø TYPES OF BUDGETS
Fixed Budgets
Flexible Budgets
Ac vity-Based Budge ng
Rolling/Con nuous Budgets
Zero Based Budge ng
Ø CASH BUDGETS
Principles of Cash Budge ng
The mechanics of Cash Budge ng
The format of a Cash Budget
Deprecia on, No onal Costs, Opportunity Costs and Cash Flow Budgets
Tax and Cash Budge ng
Non-Trading Cash Inflows and Ou lows
MEDIUM- TERM MANAGEMENT CONTROL
Ø BUDGETARY CONTROL
The Features of a Budgetary Control System
Budget styles
The Behavioural Implica ons of Accoun ng Control Systems
Ø THE FUNDAMENTALS OF STANDARD COSTING

Overview of Standard Cos ng
Se ng Standard Costs
The Calcula on of Material and Labour Cost Variances
The Calcula on of Sales Variances
Ø STANDARD COSTING IN PRACTICE

Overhead Variances
Repor ng Variances in a Flexible Budge ng Environment
The Interpreta on of Revenue and Variable Cost Variances
The Limita ons of Standard Cos ng
Summary of Variances
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Ø ADDITIONAL PERFORMANCE MONITORING TECHNIQUES

Non-Financial Performance Indicators
Non-Financial Indicators In Manufacturing
Capacity Ra os
Non-Financial Service Indicators
Quality Measures
Cost Ra os
Customer Profitability Analysis
Balance Score Card
LONG- TERM PLANNING AND MANAGEMENT APPRAISAL
Ø MANAGEMENT ACCOUNTING TECHNIQUES FOR LONG-TERM PLANNING

Life Cycle Cos ng
Cost Reduc on and Value Analysis
Learning and Experience Curves
Target Cos ng
Ø INVESTMENT APPRAISAL
The need for Investment Appraisal Measures
Project Life Cycle Costs and Terotechnology
Payback Calcula ons
Accoun ng Rate of Return
Discounted Cash Flow
Net Present Value
Internal Rate of Return
The Impact of Corporate Taxa on on Investment Appraisal
Project Monitoring and Post-Project Audit
Sensi vity Analysis
Ø DIVISIONAL PERFORMANCE APPRAISAL AND TRANSFER PRICING

Performance Measurement – Behavioural Considera ons
Financial Performance Measures
Non-Financial Performance Measures
Inter-Firm, Inter-Divisional and Inter-Departmental Comparison Transfer Pricing
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1 Charles T. Horngren & Gary L. Introduc onto Management Accoun ng (9th

Sunden Edi on)
2 Bob Ryan Finance & Accoun ng for Business
3 Richard M. Lynch/Robert Accoun ng for Management Planning

W. Willam
4 Megginson Management Accoun ng for Business
(3rd Edi on)
5 David Accoun ng for Business
6 Adeniyi A. Adeniyi Studies In Cost & Management Accoun ng (2005)
7 T. Lucey Management Accoun ng
8 Adeniyi A. Adeniyi Simplified Management Accoun ng
9 Adeniyi A.Adeniyi An Insight into Management Accoun ng (2nd Edi on)
10 Drury Managementand Cost Accoun ng (7TH Edi on)
11 Colin Drury Cost Management & Accoun ng (6TH Edi on)

12 Freear J. The Managementof Business Finance
4. CORPORATE LAW
Aim
The Chartered Secretary is, within the organisa on, the first point of authority and
reference on the requirements of corporate law. A pivotal role is also played in corporate
compliance, and the body of law is the basis and framework for corporate secretarial
prac ce.
The aim of the course is therefore to provide a thorough grounding in, and knowledge and
understanding of the sources and principal provisions of corporate law in the structure,
management and performance of the business en ty.
LEARNING OUTCOME
Understand and advise on the provisions and applica on of corporate law appropriate to
the cons tu on, forma on and performance of the business en ty.
Perform the role of principal compliance officer.
Understand and advise on the impact of law on the role of Directors, the Secretary, and the
audit func on.
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aspiring Chartered Secretaries to (a) demonstrate required standards of competence for
professional prac ce in a key discipline, and (b) acquire essen al knowledge and skills to
underpin the relevant components of the Professional Programme.

Ins tute's examina ons or those of equivalent qualifica ons which have been approved as
mee ng the Ins tute's required curriculum and standards.
The course specifica on is based on the assump on of some relevant prior cer ficated
knowledge, and candidates will find it helpful to have familiarised themselves par cularly with:
An introduc on to the principles of law.

Business law
Ø NATURE OF A COMPANY
Sources of Nigerian Company Law
Defini on of a Company
The essen al characteris cs of A company.
Corporate personality and the veil of incorpora on.
Civil and criminal liability of company
Ø TYPES OF COMPANY
Public and private
Company limited by shares and by guarantee; Incorporated Trustees
Holding and subsidiary companies
Comparison with sole proprietorships and partnerships
Voluntary and charitable bodies
Representa ve and Foreign Companies
Ø COMPANY FORMATION
Capacity to incorporate a company
Registra on procedures
Commencement of business and regulatory environment – CIS, CSCS
Promo on of a company
The company promoter
Du es owed by a promoter and remedies for breach
Pre-incorpora on Contracts.
20
Ø CONSTITUTION OF A COMPANY
Memorandum of Associa on – purpose, content and altera on
Ar cles of Associa on – purpose, outline and content
Effect of Memorandum and Ar cles of Associa on
Altera on and limits to Altera on of Ar cles
Ø CORPORATE TRANSACTION AND DECISION MAKING

Corporate capacity and the doctrine of ultra vires and construc ve no ce
Powers of directors and other employees to bind the company
Agency concept and the rule in “Turquand's Case”
Transac ons prior to incorpora on
The corporate seal
Types of mee ngs and resolu ons
ü General mee ngs
ü Directors' mee ngs
ü Class mee ngs
THE CAPITAL OF A COMPANY
Ø SHARE CAPITAL
Types of Shares
Class Rights and Varia on of Rights
Issuing and Payment for Shares
Altera on of Share Capital
The Capital Maintenance Rule; purpose and excep ons to the Rule
Redemp on and purchase of own shares
Loss of Capital
Distribu on of Profits
The Concept of Membership
ü Transfer and transmission of shares
ü Disclosure and register of members
Public Offer of Shares
Types of public offer
The regula on of public offers and remedies for misleading prospectus
Role of the Nigerian Stock Exchange, Securi es & Exchange Commission and
Investment & Securi es Tribunal.
21
LOAN CAPITAL
Ø DEBENTURE
Types of debentures
Trustees and Trust deed
Power to borrow
Secured and unsecured borrowing
Remedies of debenture holders
Ø FIXED AND FLOATING CHARGES

Characteris cs of fixed and floa ng charges
Crystalliza on of floa ng charges
Priority of charges
Invalida ng charges
Registra on of charges
Ø THE CAPITAL MARKET

Statutory regula on of the capital market.
Central Security System (CSCS)
Malprac ces in Securi es trading
General Malprac ces
Investments and Securi es Tribunal
Collec ve Investment Schemes:
Nature, meaning and types
Cons tu on of the scheme
Management of the scheme
Types of collec ve investment schemes
DIRECTORS AND OTHER OFFICERS OF THE COMPANY
Ø DIRECTORS
Defini on
Becoming a director and tenure
Types of directors
Appointment and removal of directors
Disqualifica on, vaca on of office and remunera on
Du es of directors- Common law, fiduciary and statutory du es
Absolving directors from breach of duty
Insider dealing, market abuse and disclosure of interest
22
THE COMPANY SECRETARY
Appointment, qualifica on, du es, removal and authority of the company secretary
Ø THE EXTERNAL AUDITOR

Appointment and removal of an auditor
Rights and du es of an auditor and audit exemp ons
Appointment and func ons of the audit commi ee
Ø SHAREHOLDER REMEDIES
The Posi on of a Minority Shareholder within a Company
ü Division of Corporate Powers
ü The Rule in Foss v. Harbo le and the Common Law Excep ons
ü Personal, Deriva ve and Representa ve ac ons
Shareholder Remedies
ü Just and Equitable Winding Up and Locus Standi
ü Statutory Remedy of Prejudicial Conduct, Locus Standi, The Meaning of
Unfairly Prejudicial Conduct, Limits and Remedies Available
ü Corporate Affairs Commission (CAC)
ü CAC Inves ga ons
Ø COMPANIES IN DIFFICULTY
Reconstruc ons, Schemes of Arrangement, Mergers and Takeovers
Compulsory Acquisi on of Shares on a Takeover
Insolvency and Winding Up
ü Swelling the Assets Available by Se ng Aside Transac ons and Seeking
ü Contribu ons towards the assets of the Company
ü Methods of Winding up
ü Grounds for Winding Up for
The Liquidator
Du es
Powers suo moto
Powers with leave of Court
Order of Applica on of Assets of Insolvent Companies
Consequences of Winding Up, Striking off and Restora on of Companies to the
Register
Alterna ves to Winding-up-Receivership
23
1. Adebayo B. & Nat ICSAN Study Text on Corporate

Ofo Law [2nd Edi on]
2. Olakunle Orojo Company Law and Prac ce in
Nigeria
3. Ephraim M. Company Law IN Nigeria Under
Asomugha Companies and Allied Ma ers
Act.
4. Abugu, Joseph Principles of Corporate Law in
Nigeria
Casebook on Company Law.
5. Abugu, Joseph Company Securi es:
Law and Prac ce
6. Omojola, F. Company Law in Nigeria
RELEVANT STATUTES AND REGULATIONS
1. Companies Allied Ma ers. Act, 2020

2. Investment and Securi es Act, 2007
3. Corporate Affairs Commission (CAC) Regula ons 2021
4. Securi es and Exchange Commission (SEC) Rules and Regula ons
5. Companies Winding Up Rules
24
PROFESSIONAL PROGRAMME PART II SYLLABI
1. GOVERNANCE: PUBLIC, PRIVATE AND NOT FOR PROFIT

AIM:
(a) Governance: Private Sector
Corporate Governance has emerged on the global agenda in pursuit of proper and efficient
prac ce in the administra on of the business en ty. The objec ve is probity in business
ac vity, compliance with law and regula on, and the securing of reputa on and
confidence towards the a rac on of inward investment. The Chartered Secretary is the
key corporate player and the global Profession has emerged as a benchmark for the
development of best prac ce.
The aim of the course is to ins ll the knowledge and key skills necessary for the Chartered
Secretary to act as chief adviser to the Board on best prac ce in corporate governance, and
as the catalyst for systema c applica on in the major global forms of organisa on.
(b) Governance: Public Sector

The focus of this module shall be the governance in the Public Sector and covers
governance prac ces in the Civil Service, Ministries , Departments and Agencies (MDAs)
and Local Governments. Throughout the module, students will be exposed to
contemporary public governance principles both locally and interna onally. Studies will be
extended to the Public Service Rules, Financial Regula ons, Government Accoun ng and
General Knowledge. This will assist the students in the applica on of various rules as
professionals.
(c) Governance Not-For-Profit

This module is designed to establish the role of the Chartered Secretary as a key player and
global professional on the promo on of highest standards of Corporate Governance in the
Not-for-Profit Sector.
The module is to ins ll knowledge and necessary skills required by a Chartered secretary as
Governance Professionals in this aspect of administra ve du es. Students shall be able to
bring to bear their exposure on the applica on of global prac ces for efficiency and
LEARNING OUTCOMES
Research and apply the growing global informa on sources on corporate governance;
Promote awareness of, and be responsible for con nuing self and personnel
development on corporate governance themes;
Promulgate corporate governance principles and best prac ce in the employing or
client organisa on;
Apply professional knowledge and skills to the resolu on of prac cal issues and problems
in the proper governance of the employing or client organisa on;
25
Apply professional knowledge and skills to the resolu on of prac cal issues and problems
in the proper governance of the employing or client organisa on;
Understand and apply the concepts of probity and ethical standards in governance;
Understand and advise on the impact of corporate governance principles on the role
of Directors, the Secretary, and the audit func on.
Evaluate the theories that inform debates about the Management of public Services
Demonstrate the ability to analyze organiza ons from a public management
perspec ve and develop recommenda ons for change, informed by relevant theories
and concepts.
Demonstrate knowledge of Community Governance.
Iden fy the core mechanisms of public administra on, including the organisa on
and management of human and financial resources.
Cri cally engage various disciplinary perspec ves and theore cal approaches to
the study of public administra on and governance.
Exposure to Public Service Rules, Financial Regula ons and Government Accoun ng.
Apply the growing global informa on to promote the highest standards of
Corporate governance for Not-For- Profit organiza ons.
Apply professional knowledge and skills to promote sound systems of internal
control and informa on systems to safeguard stakeholders' investment and assets of
public en es.
Apply professional knowledge and skills to the resolu on of prac cal issues that
promotes sound financial repor ng and accountability based on true and fair
financial statements duly audited by competent and independent auditors
Understand and advise on the impact of corporate governance principles on the
role of Directors, Commi ees, secretary and Stakeholder's rela onship.
Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be
demonstrated through the Ins tute's examina ons, or those of equivalent qualifica ons which have
been approved as mee ng the Ins tute's required curriculum and standards:
* Corporate Law * Strategic and Opera ons Management

* Financial Accoun ng * Management Accoun ng
26
DEFINITIONS, ISSUES AND CONCEPTS IN CORPORATE GOVERNANCE
• Theore cal Framework for Corporate Governance

• Key Objec ves in Corporate Governance
• Key Issues in Corporate Governance
• Concepts in Corporate Governance
• Relevance of Corporate Governance to other Organiza ons
• Company Secretary and Corporate Governance
• Enforcement of Corporate Governance Codes
i. Public Companies (SEC) Code 2003; Central Bank of Nigeria (CBN) Code for Banks
and Discount Houses 2006; Securi es and Exchange Commission Code of
Corporate Governance for Public Companies (SEC) 2011
ii. Pension Commission (PENCOM) Code 2008
iii. Na onal Insurance Commission (NAICOM) Code 2009
iv. Central Bank of Nigeria (CBN) Code for Banks and Discount Houses 2014
v. Telecommunica on (TELECOM) Code 2014
vi. Nigeria Code of Corporate Governance 2018
vii. CBN Code for Microfinance Banks and Bureau de change 2018
viii. Corporate Governance codes in other jurisdic ons (UK, US, Ghana, South Africa).
· G20/OECD Principles of Corporate Governance 2015
Ø THE BOARD OF DIRECTORS
Roles and responsibili es of the Board

The Role of the Board in Strategy Management (Vision, Strategy)
Roles of Board of Directors and Officers of the board
(I) Chairman
(ii) Managing Director
(iii) Company Secretary
(iv) Executive Directors
(v) Non-Executive Directors
(vii) Independent Non-Executive Director
Role of Non-Execu ve Directors

Size and Balance of the Board, Composi on of the Board
Structure, Composi on and Diversity
Appointment, Tenure and Re-Elec on
The Board and Decision-making
27
Ø Board Commi ees

(Audit Commi ee Remunera on Commi ee, Risk Management Commi ee etc.)
Induc on, Training and Professional Development of Directors

Performance Evalua on of the Board
Directors' Remunera on Corporate Governance
Succession Planning
Two-Tier Boards
Ø DIRECTORS: TYPES, POWERS AND DUTIES

Types of Directors (Non-Execu ve, Independent Non-Execu ve Directors, Lead
Non-Execu ve Directors, Execu ve Directors, Chairman of The Board)
Powers of Directors
Du es of Directors
Ø RELATIONSHIP WITH SHAREHOLDERS

Shareholders and Shareholders Rela ons
Rela onship Between the Board and Shareholders
Shareholders Powers and Rights
The Company's Rela ons with Its Shareholders
Electronic Communica on Shareholders
Role of Ins tu onal Shareholders in Corporate Governance
Corporate Governance Principles and Shareholders' Rights
Minority Shareholder Protec on (Insider Trading, Conflict of Interest, Related
Party Transac on)
Rela onship with Stakeholders
Shareholders Associa on: Ac vism, Func ons, Rela onship with
Board and the Company.
Protec on of Shareholders' Rights
Ø FINANCIAL REPORTING AND AUDIT

Financial Repor ng and Corporate Governance
Financial Repor ng: Directors' Du es and Responsibili es
Misleading Financial Statements
Internal Audit Func ons
Role of The External Auditors
External Auditors Appointment & Func ons)
External Auditor's Independence
Controls Over the Audit Process
External Auditors and Audit Commi ee Rela onship
28
Ø REPORTING AND DISCLOSURE

Narra ve Repor ng by Companies
Business Review
Corporate Governance Report and Disclosures
Corporate Governance Evalua on
Environmental Social and Governance (ESG) Repor ng
Sustainability Repor ng
Ø RISK AND SOCIAL RESPONSIBILITY

Risk Management & Corporate Governance
Nature and Concept of Risk
Categories of Risk
Internal Control System and Risk Management
Role of The Board in Risk Management
Risk Management in Selected Jurisdic ons
FUNDAMENTAL PRINCIPLES OF MORALITY AND

ITS RELEVANCE IN CORPORATE GOVERNANCE
Concept of Morality
Principle of Solidarity
Principle of Ra onality
Principle of Fairness or Impar ally
Principle of Efficiency
Principle of Accountability/Transparency
Principle of Responsibility
Principle of Honesty/Integrity
ETHICS AND CORPORATE GOVERNANCE
Introduc on
Importance of ethics in a corpora on
Ethics and the law
Factors affec ng ethics in a corpora on
Ethical issues in corpora ons:
i. Confiden ality
ii. Conflict of interest
iii. Whistle-blowing - Na onal Policy on Whistle blowing
iv. Acceptance of gi s
v. Insider dealing
29
CORPORATE CODE OF CONDUCT AND ETHICS
Nature and meaning

Content
Purpose and benefits
Individual Ethics versus Corporate Ethics
Corporate Culture
Best prac ces / unethical prac ces
Enforcement of Codes and Sanc ons
CORPORATE SOCIAL RESPONSIBILITY (CSR)
Relevance of CSR in Corporate Governance

Dialec cs of CSR
Balancing profitability with social responsibility
Agencies Responsibility and Role in CSR
ü REGULATORY AGENCIES (SEC, FRC, CBN ETC.)

Ins tu onal Investors, CSR and SRI
Globally Responsible Business Conduct
Case Study (Incidences of Corporate Governance in Nigeria And Other
Jurisdic ons)
Ø PUBLIC SECTOR GOVERNANCE

Key issues in Corporate Governance in the Public Service
- The Nolan Principles of Corporate Governance
- The Public Service Structure: Execu ve, Legislature, Judiciary, MDAs and
Interrela onships
- Overview of the Public Service Reforms and Government Development
Agenda in Nigeria.
Overview of Contemporary issues in Corporate Governance (Public-Private
Sector Perspec ves)
Oath of Secrecy and FOI Act.
Presiden al Execu ve Orders
Public Service Rules, Financial Regula ons and Government Accoun ng with
references to Current Affairs.
Work Ethics in the Public Service
Other Ungaze ed Regula ons and Prac ces.
Overview of Local Government Administra on in Nigeria
Management of Moderniza on and E- Government.
Local Government and Other Tiers of Government
Public Procurement
Ø NOT FOR PROFIT GOVERNANCE

A ributes of Not-for- Profit organiza ons.
Need for Corporate Governance in Not-for-Profit organisa ons
30
Board Ma ers
Accounts and Audit
Rela ons with Stakeholders
Transparency and Disclosures.
Statutory provisions regarding Not-for-Profit governance.
RECOMMENDED STUDY TEXT
1 ICSA Corporate Governance Study Text, 6th Edi on

2 Prasad Corporate Governance
3 Medury Governance for Development: Issues & Strategies
4 Alo, O. Issues in Corporate Governance
5 Colley, John L. Corporate Governance
6 Hilb, Mar n New Corporate Governance: Successful Board
Management Tools
7 UNEGBU, O. C. K. Corporate Governance in Banking and Other Financial
Ins tu ons - Laws, Issues and Ethics
8 Adewunmi, W. Ethics in the Financial Services Business
9 FGN Securi es And Exchange Commission (SEC) Code of
Corporate Governance in Nigeria
10. Financial Repor ng Nigeria Code on Corporate Governance, 2018
Council of Nigeria (FRCN)
RECOMMENDED ADDITIONAL STUDY MATERIALS

1. Public service rules in official gaze es (federal)
2. States' public service rules (various states)
3. Public sector governance code in nigeria 2016 – unpublished -frcn
4. Public service ins tute of nigeria.
5. Not for profit organisa ons: governance code 2016 -unpublished -frcn.
6. Other ungaze ed regula ons and prac ces.
CORPORATE ADMINISTRATION AND RISK MANAGEMENT
Aim
The Chartered Secretary is regularly employed in a posi on of strategic responsibility for
administra ve opera ons within and across the organisa on. The aim of the course is to ins ll
knowledge and key skills in handling the responsibili es of corporate administra on in both the
strategic and func onal contexts, to develop competence in advising the Board and leading
teams in administra ve best prac ce, and in ensuring compliance with external regula on and
internal procedures.
31
LEARNING OUTCOMES
• Understand the scope of strategic and func onal administra on and apply it within
the employing or client organisa on;
• Access informa on sources and deliver knowledge and informa on internally to the
op mum benefit of the organisa on and its needs;
• Evaluate the requirements of the legal and regulatory environment in corporate
administra on, advise the Board accordingly, and ensure compliance;
• Take responsibility for the administra on of corporate knowledge and informa on,
the human resource, pension schemes, insurance and risk, and physical corporate
assets;
• Understand the impact of corporate taxa on on administra on and ensure taxa on
compliance within systems.
PRE-REQUISITE Learning
Evidence of assessed pre-requisite knowledge and understanding in the following disciplines

must be demonstrated through the Ins tute's examina ons, or those of equivalent
qualifica ons which have been approved as mee ng the Ins tute's required curriculum and
standards:
Strategic and Opera ons Management
Corporate Law
LEARNING CONTENT
4 BACKGROUND TO CORPORATE ADMINISTRATION

Corporate Administra on: An Overview.
Introduc on to Corporate Administra on
Roles and Func ons of a Corporate Administrator
Relevance of Corporate Administra on to Corpora ons
Corporate Administra on as a Support Service in Corpora ons
Concept of Best Prac ce, Sources and Applica on of the Principles of Best Prac ce
to Corporate Organisa ons.
KNOWLEDGE AND INFORMATION

Informa on as a Corporate Resource
Concept and Sources of Informa on
Features of a good Informa on
Management and Storage of Informa on
Impact of Technological Changes on Informa on Management
Security of Informa on
Control of Access to Informa on
Confiden ality of Informa on
32
INTELLECTUAL PROPERTY
Asset: Defini on of Terms

Intellectual Property Rights
Types of Intellectual Property Rights: - Patents, Trademarks, Design rights and
Copyright
Patents-Procedure for Registra on, Benefits
Trademarks-Procedure for Registra on, Benefits and Classes
Design Rights- Unregistered Designs and Benefits
Infringements of Intellectual Property Rights
Remedies for Breaches of Intellectual Property
Copyrights-Procedure for Registra on and Benefits
Exploita on of Intellectual Property Rights -Franchising, Licensing etc.
THE INTERNET AND E-COMMERCE
• Introduc on
• Evolu on of Internet and E-Commerce
• Domain Names and Its Dispute Resolu on Mechanisms
• Internet Service Providers (ISP) And Its Relevance
• Nigerian Data Protec on Regula on 2019-Historical Development
• NDPR Compliance Guidelines
• Rights of a Data Subject under the NDPR
• Key Elements of Data Protec on policy.
• Interna onal Conven ons on Data Protec on Act
• Role and responsibili es of Data Protec on Officer/Data Privacy Champions
• Other data Protec on Privacy Regula ons in Nigeria- Freedom of Informa on Act 2011,
Credit Repor ng Act 201, HIV/AIDS (An -Discrimina on Act 2014, Child Rights Act 2003.
• Cybercrime Crime Legisla on in Nigeria
• Cybercrime Act, 2015- What are Cyber-Crimes and its categories - Hacking, Spamming,
Spoofing, Fraud and Iden ty The , Cyber Terrorism Etc.
• Internet or Online Transac ons
• Types of Online Transac ons
• Challenges And Prospects
• An -Bribery Agencies-EFCC, ICPC, NPF, NDLEA Act, DSS, Code of Conduct Bureau CCT: Code
of Conduct Tribunal and any Other An -Corrup on Strategies
33
HUMAN CAPITAL MANAGEMENT

• Job Planning and Recruitment
• Job and Succession Planning
• Person's Descrip on/ Specifica on
• Sources of Recruitment — Internal and External
• Recruitment Procedure
• Challenges in Recruitment
• References in Employment
• Work/Life Balance
• Strategic Role of Human Resource Management
• Performance improvement
• Process improvement
• Job enrichment/Job enhancement
• Human Resources Outsourcing
• Human Resource Analy cs (Metrics and Measurement)
• Leadership and Leadership Development
• Skills/Talent iden fica on and management
• Individual development planning
• 360-degree feedback
• Succession planning
• Change and Change Management
• Resistance to change
• Quality Management
EMOTIONAL INTELLIGENCE
• What is Emo onal Intelligence?

• Types of Emo onal intelligence:
(i) Self-awareness
(ii) Managing Emo ons
(iii) Mo va on
(iv) Empathy
• Relevance of Emo onal Intelligence in Human Resource Management.
• Models of Emo onal intelligence
• Emo onal Intelligence Measurements
EMPLOYER/EMPLOYEE RELATIONSHIP
• Introduc on
• Contract of Service and Contract for Service
• Essen al Ingredients of a valid Contract of Employment
• Types of employment contract
• Du es of Employer and Employee
• Forma on of Contract -Express and Implied Terms,
• Par es to a Contract of Employment
34
DUTIES AND RIGHTS OF EMPLOYER AND EMPLOYEE
Ø Du es of an Employer:
• Duty to Pay Agreed Wages
• Duty to Provide Work
• Duty to Take Care of Employee's Safety
• To Indemnify Employee
• Duty to Insure
• Duty to conduct Medical Examina on
• Duty to provide Wri en Le er of Employment
• Duty to Provide Tools and Equipment
• Duty to Provide Means of Transporta on
• Duty to Provide Paid Leave
Ø Rights of an Employer
• Right to Hire and Fire employee
Ø Du es of an Employee:
• Duty to Obey Lawful Order
• Duty of Disclosure
• Duty of Fidelity
• Duty of Confiden ality
• Duty to exercise Care and Skill
Ø Right of an Employee
• Right to be treated with Dignity
• Right to be given Necessary Equipment for Work
• Right to be Insured etc
Ø Remedies Available for Breach in Employer/Employee Rela onship

i. Damages
ii. Reinstatement (Contract with Statutory Flavour) etc.
DISCIPLINE, TERMINATION AND DISMISSAL FROM EMPLOYMENT
• Discipline and Disciplinary Procedure

• Termina on of Contract of Employment
• Categories of Termina on: Statute or by Agreement of Par es
• No ce and Payment in Lieu of No ce
• Dismissal and Effect of Dismissal
• Construc ve Termina on/ Construc ve Dismissal
• Remedies for Wrongful Termina on and Dismissal
35
EMPLOYEE TRAINING AND DEVELOPMENT
• Introduc on
• Ra onale for Training and Development of Employee
• Evolving a Training Plan – Bonding
• Recouping investment from Training Programme
• Methods of Training/ Training Techniques
• Types of Training
• Mentoring
• Coaching
• Performance Appraisal
PROTECTING HEALTH AND SAFETY AT WORKPLACE

• Background to Safety Regula ons.
• Relevance of Safety Regula ons
• Workplace Hazards
• Proac ve Strategies for Promo ng a Safe and Respec ul Workplace.
• Safety Manual / Policy.
• Importance of Work Health and Safety at Workplace
• Statutory Regula ons on Health and Safety in the Workplace – Employee Compensa on
Act 2010; Factory Act LFN 2004
PENSION SCHEME AND ADMINISTRATION
• Historical Development of Pension Schemes in Nigeria

• Objec ves of Pension Scheme
• Management of Pension Scheme
• Types of Pension Schemes in Nigeria
• Features of the Nigerian Pension Reform Act 2014
• Life Expectancy
RISK AND INSURANCE
• Introduc on to Risk Management - What is Risk? Types of Risk

• Importance of Risk Management
• Scope and objec ve of Risk Management
• Risk Management Processes- Risk Iden fica on, Risk evalua on, Risk Assessment and
Risk Control
• Methods of Dealing with Risk – Risk Reduc on, Risk Reten on, Risk Transfer etc.
• Risk Matrix
36
INSURANCE IN NIGERIA
• Introduc on
• Principles of Insurance
• The Essen als of a Valid Insurance Contract
• Classes and Types of Insurance
• Loss adjusters and Loss Assessors
• Benefits of Insurance
CORPORATE TAXATION
• Introduc on and Historical Development
• Tax and Taxa on
• Types of Taxes
• Principles of Taxes in Nigeria
• Tax Legislators in Nigeria- Personal Income Tax. Value Added Tax, Company Income Tax,
Educa on Tax, Petroleum Profit Tax, Taxes and Levies (Approved List for Tax Collec on)
1998 as Amended and Finance Act, 2020
• Breach of Tax Legislators & Regula ons
PHYSICAL ASSETS AND FACILITIES
• Introduc on to Physical Assets: What is an Asset?

• Types of Physical Assets
• Methods of Acquisi on of Assets
• Key Issues in Facili es Management
• The Role of a Facili es Manager
• Outsourcing - Advantages and Disadvantages
• Business Layout and Office Reloca on -Remote Working
• Accommoda on and Space Audit
• Ergonomics
RECOMMENDED TEXT BOOKS
1. ICSAN: Corporate Administra on and Risk Management Study Text

2. Economic and Financial Crimes Commission (EFCC) Act
3. Independent Corrupt Prac ces and other related Offences Commission (ICPC) Act
4. Na onal Drug Law Enforcement Agency (NDLEA) ACT
5. Code of Conduct Bureau (CCB) Act
6. Code of Conduct Tribunal (CCT) Act
7. Nigeria Data Protec on Regula on, 2019
8. Nigerian Pension Reform Act 2014
37
3. FINANCIAL MANAGEMENT AND STRATEGY

Aim
The aim of this course is to address the need for the Chartered Secretary to understand the
issues involved in corporate financial policy, planning, decision making and control.
Learning Outcomes

§ Understand the financial sources and requirements of the employing or client
organisa on;
§ Demonstrate competence in the skills of Corporate Financial planning;
§ Understand the role and efficiency of the capital markets;
§ Understand the nature and importance of capital structure and the cost of capital;
§ Understand and apply the principles of working capital management;
§ Understand the impact of global and mul -na onal opera ons on financial management
and strategy.
Pre-Requisite Learning
Evidence of assessed pre-requisite knowledge and understanding in the following

disciplines must be demonstrated through the Ins tute's examina ons, or those of
equivalent qualifica ons which have been approved as mee ng the Ins tute's required
curriculum and standards:
* Financial Accoun ng * Management Accoun ng
* Corporate Law * Strategic and Opera ons Management
Main Competencies
Detailed syllabus
A Financial environment, role of financial manager and money market Ins tu ons
1. Financial environment and role of financial manager
(a) Evaluate financial objec ves within the strategic planning process of an organisa on.
(b) Iden fy key stakeholders of organisa ons and advise on their interests.
(c) Evaluate the impact of macroeconomic environment and the role of interna onal
financial ins tu ons in strategic financial management.
(d) Evaluate and apply the concept of corporate social responsibility (CSR) and its
rela onship with the objec ve of maximizing shareholders' wealth.
(e) Assess and advise on agency theory and its relevance to financial management.
(f) Report on the professional, regulatory and legal frameworks relevant to financial
management, including stock exchange requirements, an -money laundering
regula ons and directors' responsibili es.
(g) Evaluate and communicate the key ac vi es undertaken by treasury managers.
38
(h) Analyse and evaluate centralised and decentralised treasury management and
the arguments for and against each.
(i) Iden fy and assess the impact of emerging issues in strategic financial
management. These include the changing landscape of financial markets regula on,
digi za on Ar ficial Intelligence (AI) & Blockchain, new asset classes such as crypto
currencies, newer financing methods such as sustainable finance/green bonds,
emerging risks beyond currency and interest rate risk.
(j) Discuss ethical issues in financial management and strategy.
2. The nature and roles of financial markets and ins tu ons

(a) Iden fy the nature and roles of money and capital markets, both na onally and
Interna onally.
(b) Explain the roles of financial intermediaries.
(c) Explain the func ons of stock market and corporate bond market.
3. The nature and roles of money markets

(a) Describe the roles of money markets in providing:
(i) Short-term liquidity to private and public sectors, and
(ii) Short-term trade finance.
(b) Explain the func ons of banks and other financial ins tu ons in the opera ons of
money markets.
(c) Explain the characteris cs and roles of the following principal money market
instruments:
(i) Interest-bearing instruments;
(ii) Discount instruments; and
(iii) Deriva ve products.
(d) Compare and contrast capital and money market opera ons.
B. Financial Ra o Analysis to evaluate long term financial performance and posi on of a
business, using:
(a) Statement of profit or loss;
(b) Statement of financial posi on; and
(c) Statement of cash flows.
C. Mathema cs of Finance
Iden fy, explain and apply the basic mathema cal tools used to solve finance problems:
(a) Simple and compound interests;
(b) Discoun ng;
(c) Annuity;
(d) Present value annui es;
i. Annuity factor;
ii. Sinking fund; and
iii. amor sa on
39
D. Investment appraisal
(a) Discounted cash flow techniques
(i) Evaluate poten al value added to an organisa on arising from a specified
capital investment project, using the net present value (NPV) model covering:
· Infla on and specific price varia on;
· Taxa on;
· Single period capital ra oning
· Probability and sensi vity analyses;
· simula on, certainty equivalent;
· Project dura on as a measure of risk; and
· Risk adjusted discount rates.
(ii) Establish the poten al economic return (using internal rate of return (IRR)
and modified internal rate of return).
(iii) Assess the rela ve merits of NPV and IRR.
(b) Specific investment decisions

(i) Evaluate ;easing and borrowing to buy.
(ii) Evaluate asset replacement decisions using equivalent annual cost and
equivalent annual benefits
(c) Impact of financing on investment decisions. Assess the worth of projects using
adjusted net present value (ANPV).
(d) Interna onal investment decisions

(i) Assess factors affec ng foreign investment decisions and
associated risks.
(ii) Apply interest rate parity and purchasing power parity to assess appropriate
discount rate for foreign projects.
(iii) Evaluate NPV of foreign projects.
E. Financing Decisions
1. Sources of finance
(a) Assess the range of long-term sources of finance available to businesses,
including equity, debt and venture capital.
(b) Evaluate and discuss methods of raising equity finance, including:
(i) Rights issue;
(ii) Placement;
(iii) Public offer;
(iv) Stock exchange lis ng; and
(v) Financial market dealers quota ons over the counter
(FMDQOTC).
(c) Methods of raising short- and long-term Islamic finance including major
differences between Islamic finance and the other forms of business finance
(i) Evaluate the concept of riba (interest) and how returns are made by
Islamic financial securi es.
40
(ii) Evaluate Islamic financial instruments available to businesses, including:

Murabaha (trade credit);
Ijara (lease finance);
Mudaraba (equity finance);
Sukuk (debt finance); and
Musharaka (venture capital). (Note: calcula ons are not required)
(d) Assess and advise on appropriate dividend policy.
2. Es ma ng cost of capital
Evaluate and apply:
(a) Cost of equity, using dividend growth model and capital asset pricing model
(CAPM);
(b) Cost of fixed interest capital;
(c) Weighted average cost of capital (WACC);
(d) Project specific cost of capital; and
(e) Business and financial risk, asset and equity beta.
3. Capital structure theories
(a) Assess the tradi onal view of capital structure and its assump ons.
(b) Evaluate and apply Modigliani and Miller models 1 and 2 on
capital structure.
(c Discuss the limita ons of Modigliani and Miller models 1 and 2 on capital
structure.
(d) Discuss and evaluate pecking order theory.
4. Finance for small and medium-sized en es (SMEs)
Discuss the various sources and problems of access to finance for SMEs including:
(a) Business angel;
(b) Government assistance;
(c) Supply chain financing; and
(d) Crowd funding.
5. Por olio theory and asset pricing models
(a) Por olio theory
Assess and apply:
(i) Risk and return rela onship in investments;
(ii) Risk (standard devia on) of 2-asset por olio; and
(iii) Risk reduc on through diversifica on.
(b) Capital asset pricing model (CAPM)
(I) Discuss
Systema c and unsystema c risks;
Capital market line (CML) and the security market line (SML);
And Alpha value and its use.
(ii) Calculate Beta factor and explain its uses.
41
F. Working Capital Management

a) Concept of working capital management
b) Need for working capital
c) Determinants of working capital
d) Cash & liquidity management
e) Management of inventories
f) Management of Receivables
g) Management of Payables
G. Mergers and acquisi ons, organic growth and corporate restructuring

1. Acquisi on and merger
Assess and advise on:
(a) The arguments for and against the use of acquisi ons and mergers as a
method of corporate expansion;
(b) The criteria for choosing an appropriate target for acquisi on;
(c) The reasons for high failure rate of acquisi ons;
(d) The use of the reverse takeover as a method of acquisi on;
(e) Defensive strategies in hos le takeover bids;
(f) Valua on of an organisa on in the context of a poten al takeover;
(g) Due diligence during a merger/acquisi on; and
(h) Management buy-out (MBO), management buy-in and buy-in
management buy-out (BIMBO).
2. Organic growth
Nature and Concept of Organic growth.
Differen ate between organic and Inorganic growth.
Evaluate and discuss organic growth.
3. Corporate reconstruc on and re-organisa on

(a) Corporate failure
Assess and advise on:
(i) Causes and symptoms of corporate failure; and
(ii) Corporate failure using Altman Z-score model.
(b) Financial reconstruc on

(i) Assess the suitability of financial reconstruc on as a survival strategy.
(ii) Assess market reac on to reconstruc on schemes
(c) Business re-organisa on

(i) Advise on strategies for unbundling parts of a quoted company.
(ii) Evaluate the likely financial and other benefits of unbundling.
(iii) Advise on de-merger, equity carve out, equity carve in, spin off, asset
stripping and liquida on.
(iv) Discuss the arguments for and against a quoted company going
private.
42
H. Management of financial risks

1. Assess and advise on:
(a) Different types of foreign currency risk;
(b) The causes of exchange rate fluctua ons (balance of payments,
purchasing power parity theory and interest rate parity theory);
(c) The causes of interest rate fluctua ons (structure of interest rates and yield
curves, expecta ons theory, liquidity preference theory, market
segmenta on, spot and forward interest rates);
(d) The tradi onal and basic methods of foreign currency risk
management, (currency of invoice, ne ng and matching, leading and lagging,
forward exchange contracts, money market hedging, asset and liability
management);
(e) The appropriate deriva ve instruments for hedging foreign currency risks,
(forward contracts, futures contracts, currency op ons and currency swaps);
and
(f) The appropriate deriva ve instruments for hedging interest rate risk, (forward
interest rate agreement, interest rate futures, interest rate op ons and interest
rate swaps.
I. Public Sector Finance

(a) Assess and explain the main sources of government revenue.
(b) Iden fy and explain the role of the Federa on Account Alloca on Commi ee.
(c) Evaluate the borrowings and debt management strategies.
(d) Evaluate the principles and prac ce of fiscal federalism.
(e) Understanding Treasury Single Management: Treasury Single Account
(f) Public Finance and Globaliza on.
J. Financial Strategy
1. Explana on of Concept & Essence of Financial Strategy
· Defini on
· H. Mintzberg' five P elements of Strategy:
ü P as plan or a type of conscious ac ons,
ü P as pa ern which means a kind of formalized and structuralized ac on,
ü P as ploy i. e. ac ons towards achievement of a specific goal,
ü P as posi on, which means searching for favourable posi on in order to
achieve permanent compe ve advantage,
ü P as perspec ve, i.e. percep on of posi on in the future
2. a) The financial and non-financial objec ves of different organisa ons (e.g., value for
money, maximizing shareholder wealth, providing a surplus).
b) The three key decisions of financial management (investment, financing and
dividend) and their links.
c) Benefits of matching characteris cs of investment and financing in the longer
term, (e.g. in cross-border investment) and in short-term hedging strategies.
43
d) External constraints on financial strategy (e.g. funding, regulatory bodies, investor

rela ons, strategy, and economic factors).
e) Developing financial strategy in the context of regulatory requirements and
interna onal opera ons.
f) The implica ons of regula on for business combina ons.
Recommended Study Text
1) Akanbi Lateef ICSAN Financial Management & Strateg y

2) Ade fa, S.B. Corporate Finance and Investment Strategy
3) Olowe, R.A. Financial Management
Lagos, Biery Jones–Nigeria
4) Anao, A.R. Investment Analysis, Planning & Control
Cibn Press Ltd
5) Megginson Introduc on To Company Finance
6) Elearn Management, Finance Management
7) Akintoye, I.R. Investment Decisions: Concept, Analysis and
Management
8) Valdez S. An Introduc on to Global Finance Market, 5TH
Edi on (2006) Palgrave Macmillan: London
9) Arnold G. C. Essen als of Corporate Financial Management
Pearson Educa on (2006)
10) Besley, Sco , Bingham, Eugene Essen als of Managerial Finance, Thompson
Learning (2002)
11) Van Horne, J.C. Fundamentals Of Financial Management
12) Pandy, I.M. Financial Management
New Delhi, Vikhar
13) ICSA Corporate Financial Management
(6thEdi on)
4. CORPORATE SECRETARYSHIP AND BOARD DYNAMICS

Aim
One of the core prac ce areas of a Chartered Secretary is Company Secretarial Prac ce
and Board Management. The aim of the course is to specify and assess the essen al
knowledge and skills involved in taking overall responsibility for the corporate secretarial
func on in small, medium and large-scale organisa ons. The prac ce of corporate
secretaryship in this course extends to both the strategic and func onal contexts, in
advising the Board, in leading teams in secretarial best prac ce, in ensuring compliance
with law and regula on, and in establishing efficient internal communica on of Board
decisions, external repor ng, undertaking Board capacity enhancement programmes and
general evalua on.
44
Learning Outcomes
At the conclusion of this qualifying course, trainees are expected to, amongst others
value impacted:
Understand the scope, role and func ons within the corporate secretaryship prac ce
and apply them in prac ce.
Understand the law and best prac ce rela ng to mee ngs, apply them in the
secretarial func on, and ensure corporate compliance;
Ensure effec ve communica on and dissemina on of informa on to and from the
Board, both internally and externally, for the op mum benefit of the organisa on and
its needs;
Be aware of the responsibili es of the Secretary as an independent prac oner within the
organisa on, and be responsible for con nuing personnel development within the
secretariat;
Be aware of, and take responsibility for con nuing self-development in corporate
secretaryship as a prac oner.
Pre-Requisite Learning
Evidence of assessed pre-requisite knowledge and understanding in the following
disciplines must be demonstrated through the Ins tute's examina ons, or those of
equivalent qualifica ons which have been approved as mee ng the Ins tute's required
curriculum and standards:
* Corporate Law
* Strategic and Opera ons Management
LEARNING CONTENT
PART A
THE SECRETARY, DIRECTORS AND MEMBERS
(1) THE ROLE OF THE COMPANY SECRETARY
§ The requirements for the Appointment of a Company Secretary
§ The nature of the Roles, Func ons and Du es of a Company Secretary
§ Appointment and Qualifica on
§ Removal from Office
§ The Secretary and the Board
§ The Role of the Company/Board Secretary: Public and Private sectors
§ Handling Commi ee Mee ngs
§ Repor ng line of the Secretary
§ Rights and Liabili es
(2) THE DIRECTORS – the legal perspec ve

§ What is a director?
§ Appoin ng Directors
§ Qualifica on
§ Remunera on
§ Service contract.
45
§ Types of Directors
§ Valida on of Acts of Directors
§ Delega on and Synergy of Board Commi ees
§ Directors and disclosure obliga ons
§ Re rement
§ Interest in Contracts
§ Loans to Directors
§ Interest in Shares
§ Vaca on of Office and Removal
§ Directors' Du es
§ Fiduciary du es
§ Statutory du es
§ Power and Liabili es
§ Substan al Property Transac ons
§ Disqualifica on
(3) MEMBERS
§ What is a Member?
§ Types of Shareholders
§ Corporate Shareholder
§ Ins tu onal Shareholder
§ Joint Shareholder
§ Members' Rights, Du es and Liabili es
§ Register of Members and its management.
(4) EMPLOYEE SHARE SCHEMES

§ Introduc on
§ Common Terms Used in Employee Share Schemes
§ Share Incen ve Plans
§ Savings-Related Schemes (Share Save Schemes)
§ Profit-Sharing Schemes
§ Company Share Op on Plans
§ Introducing and Administering an Employee Share Scheme
§ Addi onal Issues for Listed Companies
§ Approved Share Scheme
46
PART B – COMPLIANCE AND PROCEDURE

(1) COMPANY FORMATION
§ The Corporate Affairs Commission (CAC)
§ Procedure for the registra on of Company and other en es.
§ The company as a Legal En ty
§ Classifica on of Companies, Limited Liability Partnerships and other en es
registrable under the Companies and Allied Ma ers Act, 2020.
§ General Requirements for Company Forma on
§ The Registra on Procedure
§ Re-Registra on of Companies
§ Overseas Companies
§ Processing Documents with the Corporate Affairs Commission (CAC)
§ CAMA and other Relevant Company-related Legisla ons.
§ Ge ng Accredita on with the Corporate Affairs Commission (CAC)
(2) COMPANY CONSTITUTION

§ The Memorandum of Associa on
§ The Ar cles of Associa on
§ Altera on of the Memorandum
§ Altera on of the Ar cles
(3) STATUTORY REGISTERS AND RETURNS

§ Register of Charges
§ Register of Directors
§ Register of Director's Interest in Shares and Debentures
§ Register of Secretaries.
§ Register on significant interest in shares.
§ Register of Interest in Shares
§ Register of Members
§ Register of Debenture Holders
§ Register of Directors' residen al addresses.
§ Annual Returns
(4) SEAL AND AUTHENTICATION OF DOCUMENTS

§ The Common Seal
§ The Use of Official Seal
§ Authen ca on of Documents
47
(5) REGULATION AND SUPERVISION OF COMPANIES

§ Introduc on
§ The Securi es and Exchange Commission, its regula ons and supervision of
companies'
§ The Role of the Stock Exchange (The Nigerian Exchange Limited, NGX)
§ Market operators (Brokers, Market Makers) and the secondary market trading
system
§ Introduc on to CSCS
§ The Lis ng Requirements and the Lis ng Rules
§ Con nuing Obliga ons of listed companies
§ Insider Dealing and Market Abuse.
(6) ANNUAL REPORTS AND ACCOUNTS, AND AUDITORS

§ Introduc on
§ Duty to Keep Accoun ng Records and Prepare Accounts
§ Prepara on, Laying and Delivery of Accounts
§ Abridged Financial Statements
§ The Directors' Report and Business Review
§ Audit Commi ee: Compliance Issues with Relevant Rules
§ Auditors and Auditors' Report
§ Approval and authen ca on of financial statements (FRCN Act)
(7) CORPORATE GOVERNANCE

§ Corporate Governance overview- Key Issues in Corporate Governance
§ Key Concepts in Corporate Governance
(8) SHARES AND SHARE CAPITAL

§ Minimum and issued share Capital
§ Classes of Shares
§ Calls on Shares
§ Financial Assistance for Purchase of Own Shares
§ Issue and Allotment of Shares
§ Rights Issues
§ Altera on of Capital
§ Redemp on of Shares
§ Purchase of own Shares (Share-Buyback)
§ Share Issues
§ Payment for Shares
§ Consolida on of Shares
§ Subdivision of Shares
§ Conversion of debenture into shares
§ Cancella on of Unissued Shares
§ Reduc on of Capital
§ Share Premium
§ Issue Price
48
§ Underwri ng
§ Role of Issuing Houses and other par es to a public issue of shares and Bonds.
(9) SHARE REGISTRATION

§ Share Cer ficates
§ Transfer and Transmission of Shares
§ Stamp Duty on share transfer
§ Registra on of Documents
§ Dematerializa on of Shares
§ Rec fica on of Share Register
§ Closure of Register
§ Administra ve Procedures for maintaining the Register of Members.
§ Registra on of Documents in Rela on to Shareholding
(10) DIVIDENDS
§ Introduc on
§ Restric ons on dividend payment and distributable profit.
§ Dividend Mandates
§ Dividend Warrants
§ Waiver of Dividends
§ Declara on and Payment of Dividends
§ Types of Dividends -Scrip Dividends, Cash Dividends
§ Dividend Reinvestment Plans
§ Unclaimed Dividends
(11) DEBENTURE AND LOAN STOCKS

§ Types of Debenture
§ Secured Debenture
§ Issue of Debentures
§ Unsecured Loan Stock
§ Conver ble Loan Stock and Debentures
§ Redemp on of Debentures
(12) MEETINGS AND RESOLUTIONS

§ Legal Concept of a valid mee ngs
i Properly convening a mee ng
ii Properly cons tu ng a mee ng
iii Properly conduc ng a mee ng – Mo on and Vo ng methods.
iv Properly documen ng a mee ng
v Agenda and Order of Proceedings of an AGM
§ Types of Mee ngs:
i. Statutory Mee ng
ii. Annual General Mee ng
49
* The Role of the Chairman at General Mee ngs

Iii. Extraordinary General Mee ngs
iv. Class Mee ngs
§ Resolu ons
§ Minutes
§ Proxies, Proxy Forms and Validity.
§ Adjournment
(13) BOARD MEETINGS AND COMMITTEES – Legal requirements.

§ Introduc on
§ Chairman
§ No ce
§ Agenda
§ Quorum
§ Resolu on
§ Wri en Resolu on
§ Resolu ons in Wri ng
§ Minutes
§ The role of the Secretary Before, During and A er Board Mee ngs
§ The nature and administra on of Commi ees
PART C
(1) BOARD DYNAMICS
CULTURE IN THE BOARDROOM
(I) Governance and culture
Ø Responsibili es of the board
Ø Limita ons of rules-based compliance
(ii) Defining board culture:
Ø What is culture?
v Schein's ten categories of culture and Iceberg model
v Cultural variety
(iii) Board cultural markers:
v Board conversa ons as a representa on of culture
v What can go wrong with board conversa ons?
v Current quality of board cultural dynamics
(iv) Board cultural dynamics:
Ø Bedrock of board culture model
Ø Power culture:
v Passive board
v Cer fying board
v Engaged board
50
v Intervening board
v Opera ng board
(v) How to influence board culture:

Ø Situa onal factors
Ø Raising awareness of values
Ø Chairman role modeling
Ø Director's a tude
(2) THE EFFECT OF MEETING DESIGN ON BOARDROOM DYNAMICS

(i) Introduc on to mee ng design:
Ø The challenge of mee ngs
Ø Design of board mee ngs:
Ø Temporal characteris cs
Ø Mee ng length
i. Promptness of start and end
ii. Use of breaks
iii. Time of day
(ii) Physical characteris cs:

Ø The basics – ligh ng, noise, temperature and refreshments
Ø Mee ng space
Ø Technology use
Ø Sea ng dynamics
Ø Mee ng space arrangement
(iii) Procedural characteris cs:
Ø Mee ng goals
Ø Agenda use
Ø Pre-mee ng talk
Ø Visual displays
Ø Mee ng arrangements
Ø Minutes
Ø Informa on flow in Board packs
(3) BOARD GOVERNANCE STRUCTURE
· Governance theory related to board structure:
· agency theory
· stewardship theory
· stakeholder theory
· Defining structural elements of boards and the impact of board structures on
performance:
· unitary board:
− all-execu ve board
− majority execu ve board
51
− majority independent non-execu ve board

§ two er board
§ ra o of execu ve directors to non-execu ve directors
§ board size
§ commi ees' structure
§ chair considera ons:
− chair and chief execu ve officer split role
− chair as a former chief execu ve officer
− chair as an execu ve or non-execu ve
§ director considera ons:
− average tenure
− board diversity
− director compensa on/remunera on -
– base pay, incen ve schemes, equity involvement
§ board tasks:
− board mee ng frequency
− board review
− board induc on and development
§ board tasks:
− mee ng frequency
− board induc on and development
§ summary of board structural configura on and compliance
PART D
TAKEOVER AND MERGERS
§ Introduc on
§ Public Offers
§ Agreements with Individual Members
§ Purchases in the Market
§ Offer Documenta on
§ Compulsory Acquisi on
§ Regula on & Supervision rela ng to companies' amalgama on.
PART E
INSOLVENCY, WINDING UP AND DISSOLUTION
§ Introduc on to Insolvency Prac ce.
§ Methods of Winding Up
§ Voluntary liquida on
§ Compulsory liquida on
§ Administra on orders
§ Voluntary arrangements
§ Receivership
52
§ Company Management
§ Striking-off by CAC
§ Restora on
§ Directors of insolvent companies
§ Issues for the company secretary

Adebanjo, Agokei ICSAN Corporate Secretaryship and Boardroom
Company Secretary Handbook [Volume 1]:
ICSAN Mee ngs and Minutes
Patrick F.C. Mbonu Nigerian Company Law for Directors and Corporate
Execu ves.
Olawoyin, G.A. Status and Du es of Company Directors
Orojo Company Law and Prac ce
Luke Thomas ICSA Study Text on Corporate Secretaryship
Brian Coyle ICSA Study Text on Corporate Governance
Morse, Geoffrey Palmer’s Company Law
Mar n, David One Stop Company Secretary
Smith, Charles Company Procedure Precedents
Walmsley, Keith & Andrew Company Secretarial Prac ce
Bruce Marhta Rights And Du es Of Directors (9th Edi on)
RELEVANT STATUTES AND REGULATIONS

1. Companies Allied Ma ers. Act, 2020
2. Investment and Securi es Act, 2007
3. Corporate Affairs Commission (CAC) Regula ons 2021
4. Securi es and Exchange Commission (SEC) Rules and Regula ons
5. Companies Winding Up Rules
53

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INSTITUTE OF CHARTERED SECRETARIES

& ADMINISTRATION OF NIGERIA

ICSAN... The Hub of Governance Professionals

When you aim high

Great things happen when

Be a Chartered Secretary And Administrator

INSTITUTE OF CHARTERED SECRETARIES

Professional Programme Part 1 Syllabi

Professional Programme Part ll Syllabi

Corporate Governance and General Management.

THE INSTITUTE'S OBJECTIVES ARE:

· Encourage poten al Chartered Secretaries and Administrators to acquire professional

WHO IS A CHARTERED SECRETARY AND ADMINISTRATOR?

Who is a Chartered Secretary and Administrator?

HOW TO BECOME A CHARTERED SECRETARY

1. Successfully Complete Our Qualifying Examina ons

ICSAN Professional Examina ons

FOUNDATION PRE – PROFESSIONAL

Communica on Skills Business Law

PROFESSIONAL PROGRAMME PART I PROFESSIONAL PROGRAMME PART II

EXAMINATION DATES AND REGISTRATION

These are three-hour, closed-book exams.

SECTION QUESTIONS MARK ALLOCATION QUESTION TYPE RECOMMENDED

Recommended Study texts

For further enquiries please contact.

The Ins tute's Secretariat

Or the following addresses: -

Port – Harcourt Oﬃce Enugu Oﬃce

ICSAN, Port Harcourt Oﬃce ICSAN, Enugu Oﬃce

Uyo Oﬃce Benin Oﬃce

Mboho Mkparawa Ibibio 90, Akpakpava Road,

C/O Pastor G. C.Wokoma, ACIS C/O Barrister Musa Muhammed, ACIS

PROFESSIONAL PROGRAMME PART I SYLLABI

At the conclusion of this course, the candidate will be able to:

An introduc on to the principles of book-keeping and accountancy

Ø THE CONCEPTUAL AND REGULATORY FRAMEWORK FOR FINANCIAL REPORTING.

Ø PREPARATION OF FINANCIAL STATEMENTS FOR SINGLE COMPANIES.

§ Repor ng substance of transac ons.

Ø PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS INCLUDING

RECOMMENDED STUDY TEXTS

ICSA Financial Accoun ng (6th Edi on)

Ø 2.STRATEGIC AND OPERATIONS MANAGEMENT

At the conclusion of this course, the candidate will be able to:

a) Demonstrate required standards of competence for professional prac ce in a key

Evidence of assessed knowledge and understanding must be demonstrated through the

Ø THE NATURE OF STRATEGY AND PLANNING

Ø THE CORPORATE ENVIRONMENT

Ø STRATEGIC ANALYSIS AND CHOICE

Ø UNDERSTANDING THE ORGANISATION CULTURE AND STRUCTURE

Ø MANAGING INFORMATION, KNOWLEDGE AND LEARNING

Ø THE NATURE OF LEADERSHIP

Ø GETTING THE MOST FROM PEOPLE

Ø BUILDING AND DEVELOPING TEAMS

RECOMMENDED STUDY TEXTS

1 Lomash Sukul Business Policy and Strategic Management

At the conclusion of this course, the candidate will be able to:

This course is a component of the ICSAN Professional Programme Part I. It is designed to

Evidence of assessed knowledge and understanding must be demonstrated through the

Ø THE NATURE OF MANAGEMENT ACCOUNTING