The ICSI Council recently announced more than 100% fee hike in the Annual Membership fee and COP Fees. The Council of ICSI has, beyond the principal of governance, taken this arbitrary decision of increasing the Fees w.e.f. 1st April 2017. This increment is not only likely to increase the financial burden on the members but has also unveiled the ‘lack of transparency’ and apathy in a system where members are being neglected.
It is known to all that the Council of the ICSI has failed to create a better job market for its members. On one hand, where the members are struggling to find good jobs in the market and settle in the profession. However, on the other hand, the council of the ICSI is more occupied taking such arbitrary decisions against the spirit of ethics and governance.
The mission statement of ICSI reads as “To develop high calibre professionals facilitating good Corporate Governance”. By taking this arbitrary decision of increasing the membership fees, the Council of ICSI is not only putting financial pressure on the young members but also has presented an example of Poor Governance before the Public at large.