Hello Dear Aspirant,
Becoming a Certified Independent Director is an imperative first step towards a career on a board. Scroll down to understand more about this exciting journey
Introduction to Independent Directors’ Program (IDP)
The role of an Independent Director is as critical as a watchdog. They make certain that cases of corporate mismanagement do not occur. Independent Directors, also known as Non-Executive Directors, serve on the board of directors in a variety of capacities. They come from various backgrounds and have a wide range of skills. There is also a growing demand for Independent Directors with a track record of success. Recognizing the growing complexity of Independent Directors' work, Directors’ Institute has developed online courses. These e-courses are designed to refresh Non-Executive Directors' basic knowledge base and increase their efficiency.
Participants will be taught how to be more globally oriented and focused in their pursuit of knowledge. Directors' Institute hopes to build an effective company board that is knowledgeable about all aspects of corporate governance through online courses. In addition, the Ministry wishes to meet future demand for professional, knowledgeable, and effective Independent Directors. IDP is a compilation of relevant clauses from the Companies Act of 2013, the SEBI's Listing Obligations and Disclosure Requirements (LODR), and various case studies. By also going through some “International Best Practices,” IDP will aid in the development of professionalism among Non-Executive Directors as well.
About Program Modules
More than 24 well-researched and as-per-industry requirement-designed modules are available to suffice the requirement of skillset and knowledge requirement of an Independent Director to enrolled participants.
Some of the sample module topics to gauge and understand what this program covers are mentioned below:-
Ultimate Guide to Corporate Governance
Shares and Shareholders' Rights
Understanding & Analyzing Financial Ratios
Due Diligence Before Joining A Board
The Whats and the Hows of Corporate Governance
CSR & Stakeholder
Evaluation of Boards
Accounts of Companies
Provisions for Mismanagement and Oppression
Who is this program for?
The course can be pursued by Senior industry professionals with good experience in their domain. This course is apt for CXOs who want to apply for board positions.
If you are an aspiring director, there are several reasons for you to consider the Independent Directors’ Program by Directors’ Institute. This program will not only help you learn the basic tenets of corporate governance, but will also guide you towards rebranding yourself as an Independent Director when you complete the course and take the certification examination. If being equipped with well formatted modules, course booklets, quizzes and robust client support system wasn’t enough, here are more reasons for you to consider this.
Understanding Roles and Responsibilities: A course on corporate governance provides aspiring directors with a deep understanding of their roles, responsibilities, and legal obligations as board members. It familiarises them with the principles and practices that govern the effective functioning of boards, ensuring they are well-prepared to fulfil their duties.
Compliance and Risk Management: IDP covers legal and regulatory frameworks, compliance requirements, and risk management strategies. Directors need to be knowledgeable about these areas to ensure that the organisation operates within legal boundaries, mitigates risks effectively, and maintains ethical standards.
Effective Decision-Making: It teaches aspiring directors about sound decision-making processes within the boardroom. They learn about strategic planning, financial oversight, evaluating performance, and making informed choices that align with the organisation's goals and stakeholders' interests.
Board Dynamics and Relationships: Boards consist of individuals with diverse backgrounds and expertise. A comprehensive course on corporate governance equips aspiring directors with the skills to navigate board dynamics, build effective relationships with fellow directors, and contribute constructively to board discussions and deliberations.
Stakeholder Management: Directors have a responsibility to consider the interests of various stakeholders, including shareholders, employees, customers, and the broader community. The Independent Directors Program by Directors’ Institute provides insights into stakeholder management, fostering a holistic perspective on decision-making and long-term sustainability.
Corporate Culture and Ethics: It emphasises the importance of a strong corporate culture and ethical behaviour within organizations. Aspiring directors learn about promoting transparency, integrity, and accountability, creating a culture that upholds these values throughout the organisation.
Board Performance and Evaluation: Continuous improvement is crucial for boards. This program covers board performance evaluation methodologies and best practices. Aspiring directors gain insights into assessing board effectiveness, identifying areas for improvement, and enhancing overall governance practices.
By undertaking this program, aspiring directors enhance their knowledge, skills, and capabilities to contribute effectively to the organizations they serve. They gain a solid foundation in governance principles, enabling them to make informed decisions, manage risks, and uphold ethical standards while fulfilling their fiduciary duties.
Need and Importance of The IDP Certification
As per the Section 149 of Companies Act, 2013, Every listed public company shall have at least one-third of the total number of directors as independent directors and the Central Government may prescribe the minimum number of independent directors in case of any class or classes of public companies. The Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019 effective from 1st December, 2019 require the existing Independent Directors as well as the professionals aspiring to become independent directors to have Certification.
Benefits of IDP
These courses open up a world of opportunities for Independent Directors and professionals looking to join the ranks of Independent Directors. It offers the following benefits:
Consolidated Resources: Different provisions and sections of the Companies Act, 2013, SEBI LODR, case studies, and other resources are consolidated in one place for participants' convenience.
Develop Corporate Governance Competence: By taking these online courses, Independent Directors and future aspirants will have a strong understanding of corporate governance and will be aware of when they need to blow the whistle.
Develop Integrated Thinking and Skill: These courses can help Independent Directors from various backgrounds develop integrated thinking and skill.
Establish a Professional Approach: Through the online courses, Independent Directors can learn about the proper approach to take during a conflict or crisis.
Courses based on “International Best Practices”: Case studies on the world's largest corporations are available to provide Independent Directors with a concentrated point of reference.
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This is an only-by-invite closed community of Global Board Directors and aspiring board directors to network, find opportunities, share opportunities and share the Global Best Board Practices to contribute to the Corporate Governance Space, ESG and economies .