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The Institute of Chartered Secretaries and Administrators (ICSA)
is the leading recognised professional body for Chartered Secretaries and
Administrators in the United Kingdom and throughout the world. Formed in 1891,
the Institute today has 36,000 members worldwide and is represented in over 70 countries.
The Malaysian Institute of Chartered Secretaries and Administrators (MAICSA)
was founded in 1959 as an affiliated body to ICSA. It is now one of the nine
Divisions of ICSA worldwide, having achieved a Division status in 2001. Membership of the Institute
is limited only to members and students of the Institute residing in Malaysia.
At present the Institute has about 3,200 members (comprising Fellows,
Associates) and Graduates, 3,100 students and 940 Affiliates.
There are two classes of membership of the Institute, ie Fellows and
Associates. All qualified members of the Institute are entitled to describe
themselves as Chartered Secretaries and use the designatory letters, FCIS or
ACIS as appropriate. Fellowship is the senior grade of membership. Another
grade, Grad ICSA comprises those who have successfully completed the
examinations but have not yet gained sufficient qualifying service for
Associateship.
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In Malaysia, the FCIS and ACIS qualifications are recognised by
the Government as equivalent to Honours degrees whilst the Grad ICSA is
recognised as equivalent to a general degree. The Government has also gazetted
MAICSA as a prescribed body under Section 139(A) of the Companies Act 1965,
which means that Associate and Fellow members of MAICSA can automatically act
as company secretaries without having to apply for a licence from the Companies
Commission of Malaysia (CCM).
Members of the Institute with more than five years practical tax experience,
either in the Government or private sector, are also eligible to apply to
become tax agents under Section 153 (3) of Income Tax Act 1967.
MAICSA members who have at least 3 years experience in the financial and
securities industry can be accepted for registration with MESDAQ as a
compliance officer under MESDAQ Business Rule 508(2)(c).
In tandem with its mission of developing good corporate professionals, MAICSA
is committed to maintaining the highest standard of integrity and ethical
values within the profession. MAICSA also acts as a change catalyst in the
corporate arena, participating actively in the enhancement of corporate
governance. It has been championing best practices in corporate governance and
educating the Malaysian corporate sector on its importance.
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