The ICSA ANNUAL

CONFERENCE 2016#ICSAconf16

Study skills workshop for CSQS Sopna Thomas and Martyn Jones, 8 March 2016

Welcome to the study skills workshop

This workshop is tailored to the specific needs of CSQS students with a view to preparing for the upcoming exam sessions.

Areas we will cover today:

• Learning from the November 2015 exam session

• Keeping yourself motivated when studying for a professional qualification

• Managing your time effectively

• Learning from student scripts and a marking exercise

Learning from the November 2015 exam session

Looking at examiners’ comments across all modules can help give you an insight on how to gain high grades.

Examples taken from examiners’ comments applicable across CSQS:

• Use relevant authorities (e.g. legal/statutory) to support your propositions

Example: Corporate Governance November 2015

The Code (A.4.1) states that a Senior Independent Director (SID) should be appointed from the NEDs to provide a sounding board for the Chairman.

Learning from the November 2015 exam session

Looking at examiners’ comments across all modules can help give you an insight on how to gain high grades.

Examples taken from examiners’ comments applicable across CSQS:

• Consider whether the question is ‘problem based’ or ‘essay based’

• Focus specifically on the issues raised and deal with them separately

• Careful reading of the question

Learning from the November 2015 exam session

Using some examples of comments from CSQS modules:

• Financial Reporting and Analysis: present figures in a clear and understandable format with neat workings out. Imperative that questions are answered in full.

• Financial Decision Making: make sure you understand the technical areas which require calculations to be performed.

• Applied Business Law: identify the key issues but also develop them fully. Apply the law fully to the scenario given.

• Corporate Secretarial Practice: use the case study fully and make sure to apply your knowledge from the material to your exam responses.

An example of a concept map

Activity 1: what motivates you to study on CSQS?

In small groups, you are going to prepare a concept map with your reasons & motivations for studying on CSQS.

• On each post- it note, write down a motivating factor in your studies and/or how do you keep motivated while you study?

• Brainstorm around 8 – 15 ideas together

• Group your ideas under 3 separate headings- what are the common threads?

• You have ten minutes. Please nominate a reporter for feedback at the end.

Activity 1: round up

Can you feedback one item from your group that was a motivating factor?

Time management

Different methods of planning out your time:

• Work out a timetable in advance: weekly, monthly and longer term until the exam.

• Plan longer sessions for in-depth study (memorising, revision and understanding a topic).

• Add in ‘single hours’ for reading, catching up.

Allocating tasks to each study period

What will you do in each study period?

• Studying a new chapter/making notes

• Sorting out notes/making connections between topics

• Revising a particular topic and writing a response to an exam question

• Reviewing a topic that you found difficult

• Attempting a full mock exam (3 hours 15 minutes)

Why plan your time?

Planning your time individually and together:

• Gives you social support for your studies

• Helps you make realistic plans you can commit to

• Share good practice amongst students

My objectives

• Complete two chapters worth of reading from the study text.

• Sorting out notes/making connections between topics.

• Be able to complete a past exam question on any topic from chapters 1 – 5 in timed conditions.

• Compare my answer to the mark scheme (content and skills).

An example of a study plan

Monday Tuesday Wednesday Thursday Friday Saturday Sunday

7pm – 9pm

Reading from chapter 4 Corporate Law (pages 60 – 70) (1- 2 hours)

  7pm – 9pm

Reading from chapter 4 Corporate Law (pages 70 - 79) (1- 2 hours)

  7 am – 8 am

Reading from chapter 5 Corporate Law(pages 80 – 90) (1 hour)

10 am – 12pm

Desk based study and revision.

Reading chapter 5 Corporate Law (pages 90 – 101)(2 hours)

10 am – 1pm

Desk based study and revisionRevising chapters 1- 5One practice question (45 minutes) (3 hours)

Objective(s) for the week:

Activity 2: some examples of things to include• Working with the study text

• Making notes from the text and what kind of notes you intend to make (outline, summary, mind maps, index cards etc.)

• How many pages of the text can you read in a given period of time?

• Any further research/updating knowledge and wider reading

• Time spent at a tuition provider

• Consolidating knowledge after going to class or after studying independently/as a group.

• Revising from notes and the study text.

Activity 2: round up

Can you identify one thing you would do differently having prepared this timetable?

Exam marking and maximising achievement

I’m going to talk about how we mark ICSA exams and will suggest ways you can answer ICSA exam questions which will make it easier for the marker to give you credit.

• Who is the examiner?

• How are the exams marked?

• What do you need to do to get a good mark?

Who is the examiner?

The examiner is always someone who we have met, vetted and spent a lot of time with through induction and training.

In practice Teaching / research

How are the exams marked?

Process for ICSA exam scripts:

• Mark scheme

• Standardisation exercise

• Guidance for markers

• Mark review

• Assessment review

What do you need to do to get a good mark?

Discuss why remuneration is recognised as an important governance issue and the role of shareholders in monitoring it.

[CSQS, Corporate Governance]

What do you need to do to get a good mark?

“Remuneration is a vital aspect of corporate governance and it has become a big issue for the public due to a number of high-profile scandals in the financial sector. In the UK, remuneration became an issue of concern due to the high pay awarded to the heads of utility companies when they were first privatised and there has been continued alarm at the spread of ‘fat-cat’ culture. Remuneration has its own section in the UK Corporate Governance Code (Section D) which includes a set of principles which companies must align with (such as the requirement to establish a Remuneration Committee). There are also provisions for a company to…”

What do you need to do to get a good mark?

Ways you can answer ICSA exam questions which will make it easier for the marker to give you credit.

• Know your stuff

• Organise your answer

• Planning your study

What do you need to do to get a good mark?

The examiner •Is fully trained in the marking process•Is potentially marking hundreds of scripts in a short time period

The procedure •Everyone is working to the same guidance•There are a range of ‘good practice’ checks and balances

To get a good mark •Study and preparation is essential – as is memorisation•Make it easy for the marker by guiding them through

Activity 3: a marking exercise

Activity 3: a marking exercise

An example from Applied Business Law:

• Question 1 from November 2015

• 2 part question: (a) divided further into two sections and (b)

• 25 marks available with a scenario to apply

Activity 3: a marking exercise

Your task is to:

• Read through the student response

• Compare it to the mark scheme/suggested answer

• Highlight/tick the sections that you think are gaining marks. Make a note of any problem areas.

• Either you can grade it (pass, merit or distinction)

• OR give it a grade out of 25 with mark allocations for part (a) and (b)

Recap after marking

Why mark a student response?

• Good practice to mark a response in the way you can mark your own work

• Before the exam you should be writing up responses and comparing how you are doing

• The mark/grade band is not important: you are really checking for 1) content and detail 2) structure, clarity and format

Activity 3: feedback and review

This exam response gained 18/25 marks

• Clear structure according to the legal terms rather than by ‘event’

• Relevant use of legal terms

• The mark/grade band is not important: you are really checking for 1) content and detail 2) structure, clarity and format.

Responding to questions in an exam

4 questions to complete out of 6 options:

• Check the mark allocation: don’t spend too long on a short question. Move onto a question that has more marks if you have spent enough time on that part.

• Check the command words which give you an idea of the kind of answer required.

• Higher mark allocation: more depth and detail needed.

An Applied Business Law question

An example of a multi part question:

You have been approached by Tom, who is contemplating opening a restaurant. He is concerned about any liability he may have to customers using his restaurant.

Required

a) Advise Tom regarding any liability he may have:

i) Under the tort of negligence. (10 marks)

ii) As an occupier of premises (10 marks)

An Applied Business Law question

An example of a multi part question:

Tom has now opened the restaurant and, six weeks after opening, a group of young men visited the restaurant for a meal. One of the group, Steve, after drinking a large quantity of wine, decided to explore the premises and walked through a door marked ‘private.’ There were no lights on in this area, and Steve tripped and fell down some stairs, injuring himself. Steve now wants to sue Tom in respect of his injuries.

Required

b) Advise Tom of any liability he may have. (5 marks)

(Total: 25 marks)

Final points to remember on exam day…• Planning your response with a short outline/bullet points/key terms

• Questions with different parts: check the marks available

• You can come back to a question later if need be.

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ICSA annual conferenceMarch 2016

Whistleblowing How to get it right

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Summary

Background to PCaW and whistleblower protection in UK

Myth busting – evidence of the whistleblower’s experience

Overview of the UK law (Public Interest Disclosure Act) and recent

developments

Whistleblowing Commission Code of Practice

What organisations should be doing to ensure whistleblowing is effective

Top tips on handling (for info)

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A worker raising a concern about wrongdoing, risk or malpractice with someone in authority either internally and/or externally (i.e. regulators, media, MPs)

Source: PCaW

What is whistleblowing?

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Grievances Concerns

risk is to self risk is to others

need to prove case tip off or witness

rigid process pragmatic approach

legal determination accountability

private redress public interest

Grievances and concerns

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PCaW is an independent charity, founded in 1993.

We provide: free confidential advice to people concerned about wrongdoing in the workplace

who are unsure whether or how to raise their concern; training to organisations on policy and law of whistleblowing; campaign on public policy; and promote public interest whistleblowing laws.

Public Concern at Work

©PCaW 2016 - 00 44 20 7404 6609Source: PCaW

Advice lineWe have advised over 20,000 whistleblowers to date.

Top sectors: health, care, education, charities, financial services.

Top concerns: financial malpractice, public safety and patient safety.

Whistleblowing headlines

30 December 2013

BBC News

Mid Staffs:

Helene Donnelly & Julie Bailey honoured

Two women who led the fight against one of

the most shocking failings in NHS history. have

been recognised in the New Year honours list.

Former government contractor could join President Obama, Henry Kissinger and Nelson Mandela in historic list.

29 January 2014 The Independent

NSA whistleblower Edward Snowden is nominated for Nobel Peace Prize

The British chief executive who blew the whistle on a $1.7bn (£1bn) corporate fraud at Japanese electronics giant, Olympus, has brokered an out of court deal with the company over his sacking, believed to be a multi million pound settlement.

29 May 2012 The Telegraph

Whistleblower Michael Woodford settles with Olympus

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Keep quiet?

Go Outside?

Raise internally?

A concern about

malpractice

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1 in 10 workers said they had a concern*

Two thirds of workers raised their concern

Of those that felt unable to raise their concern, fear that nothing would be done, or reprisal, were the most common barriers

Myth 1: Whistleblowing is unusual

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*Survey of working age adults undertaken between 13th - 14th July 2015 by YouGov Plc.

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The majority of whistleblowers, 44% raise a concern only once and a further 39% raise their concern a second time.

Very few are persistent in raising their concern- only 22 individuals from our research went on to raise their concern 4 or more times.

74% said nothing had been done about the concern

Myth 2: Whistleblowers are persistent

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83% of whistleblowers blow the whistle internally

Only 0.5% first raise their concern with the media 81%* of workers would raise the information with their

employers if they had a concern about possible corruption, danger or serious malpractice at work

Myth 3: Whistleblowing is always going outside

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*Survey of working age adults undertaken between 13th - 14th July 2015 by YouGov Plc.

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60% of whistleblowers did not report any response from management (either negative or positive)

Of the 40% who told us of a response, the most common action is formal action short of discipline and 15% were dismissed

An overwhelming majority of British workers 74%* view the term whistleblower as positive or neutral

Myth 4: Whistleblowers are always trashed

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*Survey of working age adults undertaken between 13th - 14th July 2015 by YouGov Plc. ©PCaW 2016 - 00 44 20 7404 6609

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53% are skilled or professional workers

39% had been working for their employer for less than two years

Junior employees who raise concerns are more likely to be ignored

Senior employees are more likely to be dismissed

Myth 5: Whistleblowers are junior employees

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Lord Nolan’s praise for ‘so skilfully achieving the essential but delicate balance between the public interest and the interest of the employers’.

The Public Interest Disclosure Act 1998

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Public interest test replaces good faith test for a disclosure to

be “protected” under PIDA

Good faith only relevant to compensation when a claim is won

(the tribunal may deduct up to 25% of the compensation if

found the claimant made the disclosure in bad faith)

Liability for co-workers who victimise whistleblowers. Employers can be held vicariously liable for these employees.

Reasonable steps defence for employers.

MPs are now prescribed persons under PIDA (i.e. same legal

tests for disclosure to a regulator)

Changes to PIDA

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• Train your managers• Provide options to raise a concern confidentially – and be clear on

how you can protect someone’s identity - and limitations• Provide options for raising concerns including senior managers, an

identified senior executive and/or board member and relevant external organisations

• A commitment that staff will not be victimised for raising a concern. Follow this up in practice. Sanctions?

• Respond in a timely manner• Provide feedback• Protect and support

Code of Practice – the right messages for a speak up culture

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Conduct periodic audits of effectiveness of whistleblowing arrangements:

• The number and types of concerns raised and outcomes of investigations;

• Feedback from individuals who have used the arrangements;

• Complaints of victimisation;

• Complaints of failure to maintain confidentiality;

• Other existing reporting mechanisms;

• Adverse incidents that could have been identified by staff (e.g. consumer complaints, publicity or wrongdoing identified by third parties);

• Any relevant litigation; and

• Staff awareness, trust and confidence in arrangements.

Code of Practice – testing the culture

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o Lead by example

o Promote the policy

o Encourage staff to raise concerns

o Visible

o Accessible

o Engage with staff regularly and solicit concerns

o Re-iterate policy messages

Best practice for managers

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Points to cover

o Thank those who do come forward, if they are mistaken, reassure and explain

o Acknowledge concerns they may have about their own position and give reassurances reprisals will not be tolerated

o Manage expectations if necessary and respect confidentiality

o Discuss feedback options and communication timetables

o Investigate- serious? Who else should be notified?

o Be mindful of the confidentiality of others i.e. the accused

o Consider a report to the board/regulator where serious risk/malpractice identified

o Keep records of serious concerns raised - anonymising where necessary

Best practice for managers

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All managers and designated contacts should be briefed on:

• The value and importance of an open and accountable workplace;

• How to handle concerns fairly and professionally;

• How to protect staff who raise a genuine concern and where staff can get help or refer a concern;

• How to manage expectations of confidentiality;

• The importance of an alternative to line management if the usual channels of communication are blocked; and

• How to brief their staff on arrangements.

• Senior managers and designated contacts who are given a specific role in the whistleblowing arrangements should be trained on how to handle a concern at a senior level.

Training for managers

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Remember:

o Dealing with concerns effectively sends the message that is safe and acceptable to speak up

o Whistleblowing helps you to do your job better- being alerted to and addressing risks earlier

o Assist individuals in contacting designated officers under the policy if they feel unable to raise concerns with you

o You may be asked to explain how you handled a concern

o You and your staff can always seek advice from Public Concern at Work (where subscribers)

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Cathy Jamescj@pcaw.org.uk

Telephone + 44 207 404 6609Further information at www.pcaw.org.uk

Contact us

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The ICSA ANNUAL CONFERENCE 2016

Investor relations and the company secretary

There were no slides for this session

Board meeting masterclass

8 MARCH 2016

I remember it well!

Definition of a board meeting‘A formal meeting of the board of directors of an organisation, held usually at definite intervals to consider policy issues and administrative matters reserved for the board. It is presided over by a chairperson. It must meet quorum requirements and its deliberations must be recorded in minutes. Under the doctrine of collective responsibility, all directors, even if absent, are bound by its resolutions’.

The components of a successful meeting• Convening and preparing

for the meeting

• Managing the proceedings

• Managing the people

• Minute taking

• Post meeting matters

Preparing for the meeting

Preparation is everything. The old adage “Fail to prepare, prepare to fail’ applies.

Do

• Prepare a concise and logical agenda in conjunction with the chair. • Make sure the meeting room is suitable and prepared. • Know what is expected of you.• Ensure that arrangements are made to receive guests to the meeting.• Thoroughly discuss any contentious items of business or other formalities with

the chair prior to the meeting. • Remember you are entitled to be there and essential to the meeting.• Is there a new board member?• Are standing declarations of interest up to date? • Know the constitution and byelaws!

Preparing for the meeting continued

• Gain a working knowledge of the subjects to be discussed and of abbreviations and acronyms.

• Make sure that there are the appropriate number of board papers for each agenda item. Bring spares.

• Sit next to the chair.

• Arrange telephone/televisual conference facilities. Is PowerPoint needed?

• Attendance sheet.

• Bring a watch. Turn off your mobile!

• Anticipate any problems.

Preparing for the meeting continued

Don’t

• Be late!

• Run out of paper or pens.

• Forget to check that only those entitled to attend are at the meeting.

• Forget to record the tabling of important documents.

• Neglect to ask for clarification.

• Don’t Panic!

Example

Turning notes into minutes.

What are minutes for? -

• a record of decisions taken;

• a prompt to action;

• a record of proceedings for those unable to attend the meeting;

• an aide memoire for the following meeting;

• a history of attendance;

• a formal record of declarations of interest and other formal matters

Minutes have power!!

Notes into minutes

Be prepared! You will need stamina. Listening is much more tiring than talking.

• Write quickly and clearly

• Exercise judgment

• What is the sense of the meeting?

• Use of technology

• Type of meeting dictates the type of minutes

What do good minutes look like?

They should be – *Concise*Accurate*Consistent*Compliant*Impartial*Written to give each decision context*Reflective of board diligence and behaviour*Tailored to the audience. The audience may not include just the board!

Emotional intelligence – know the meeting participants!

The waffler

The bully

The politician

The critic

The mouse

The expert

The follower

Approval and retention of minutes

• The initial draft of the set of minutes should go to the chair for comments.

• Circulate the draft minutes to the board prior to the next meeting date.

• Dealing with comments and suggested amendments.

• Circulate revised draft with the agenda of the next meeting.

Approval and retention of minutes continued

How do you deal with this?

You disagree with the chair as to a decision.

A participant wants words inserted which you cannot recall

A participant wants words omitted which you do recall!

You are concerned about defamation, illegality or non-compliance.

Practice Matters

Additional things for Company Secretariesto consider –

• Quorum• “Pro-forma” minutes? • Eliminate bad habits. Give yourself a refresher every now and then. If it wasn’t

said or done in a meeting then it didn’t happen.• AOB or not AOB?• Handling conflicts of interests• Always respect confidentiality outside the meeting but ask yourself – who needs to know? • Attachments?• Amendments and corrections • Inspection

Minutes – good or badWhat do they really mean?

“The T-BURD analysis was considered by the meeting. It had previously been presented to the WGC but not to the board. It was generally agreed that the subject of PLEX required further consideration and that a further paper should be drafted for the next board meeting, having first been reviewed by the NDA and NII”.

“AD said that he was unhappy with the late delivery of the board papers. RE and TS agreed although TS said he understood the reason for the delay on this occasion. The chairman said the delay was due to the late preparation of the finance pack. AK said that while this was true there were extenuating circumstances and in any event she was not made aware of the cut-off date for board papers. RE asked that it be minuted that he was particularly unhappy with the late arrival of the board pack. It was agreed that in future board papers be circulated not less than five working days prior to the meeting”.

Minutes - good or bad continued“The meeting discussed the lease of a new warehouse at Ebbet’s Yard for an annual rental of £10m. The main terms of the lease were noted. The lease was approved”.

“IT WAS RESOLVED THAT the lease of property at Ebbet’s Yard upon the terms outlined to the meeting be and is hereby approved and that the director and the secretary be and are hereby authorised to execute the lease under the common seal for and upon behalf of the Company.”

“There was a healthy debate about the unreliability of the new bottling machine. The chairman adjourned the meeting”.

“After a long and far–reaching debate discussion to which all board members contributed, it was agreed to accept the proposal which had been tabled”.

The end

Charities and Key Performance Indicators

Nick Brooks Head of Not for Profit, Kingston Smith LLP

The Golden Rule

If you can measure it -you can manage it

KPI’s – the background

Let’s start with some basic theory of Key Performance Indicators

A concept used in the business world

Used to track progress/change

A ‘shorthand’ to inform/motivate teams

What does a KPI look like?

A good KPI will:

– Be crucial to the organisation's success/strategy

– Can be measured

– Meaningful to/influenced by the team

4 reasons to use KPI’s?When your organisation needs to:

1. Make decisions based on objective data

2. Demonstrate achievement by setting, monitoring

and measuring against a target

3. Present operational information to those not

involved directly in the detailed processes

4. Focus on the important and factual information

Why charities should use KPI’s

Charities are under pressure:

Funding streams are pressured/reducing

Demand for services increasing

Governance under scrutiny

Help report performance

Charities need to do more with less and

demonstrate value and efficiency

Reporting performance

Inputs

The resour

ces used

in carrying out

an activit

y

Activities

How inputs

are used

to genera

te results

Outputs

What is

delivered by the

activity

Outcomes

How activiti

es change

the lives of beneficiaries(mediu

m term)

Impact

The long term

change at

both individ

ual and

societal level

What areas can KPI’s cover? They go beyond simple financial measures

Non-financial measures include:

Internal – e.g. speed of response, quality of product/service

External – e.g. user satisfaction, brand/name awareness

Strategic – e.g. employee/volunteer satisfaction & retention

Getting started

Might well be used in fundraising already

For example:

Total donations

Donations by donor

Donors gained, Donors lost in period

Etc, etc.

Other key areas too

For example:

Expenditure

How much, on what, when, planned/unplanned?

Efficiency

Measuring value – how service is provided

Interaction

With donors, with service users

Getting started

Go back to basics and collate the facts:

– What do you do at the moment?

– What is your strategy/aim?

– What do you want/need to change/improve/develop?

– Who will be needed/involved in making then changes?

Use this information to identify your target areas

Remember: This is about truly critical area(s)

Identifying the KPI’s Selecting target area(s) and a team to review/consider

Use Mind-mapping:

– Rapidly produces and records an ‘infinite’ number of ideas

– Organises ideas by grouping them in similar areas

– Enables and encourages the group into creative thinking

You will be likely to find a lot of ideasfor your target area(s)

Collecting data

Before starting, decide:– How detailed will you need the data to be?– How will you check the data’s validity?– How much time will you allow for collation?– How much can you afford to spend?

Ways to collect data– Surveys and questionnaires– Interviews– Maintaining notes/observing

Setting the KPI’s

Less is definitely better – so reduce ideas by:

– Making sure you can actually measure

– Measurement will be cost effective

– Select just those that are clear and meaningful to the

team

– Ensure they are areas that the team can really influence

Don’t select too many parameters

Considering the practicalitiesLet’s consider a fictional charity and the some of the issues that the Board may need to consider and why. ‘A Good Charity’ is an organisation that provides

support and guidance to young people with addiction problems.

It is known nationally and has seen increasing demand for its services in the last few years.

Funding continues to be difficult although they have a small dedicated fundraising team.

They have reserves that the Board are prepared to invest in new initiatives.

Practical example -Interaction with service users The Board is looking at using the internet and social

media to increase interaction with end users. Although traditional arrangements (local meetings,

various events, printed documents) work well they can be expensive.

The Board is considering a major investment in the website and social media (twitter).

What, how, why should it monitor results, and where to use them?

Practical example – Interaction with service users What: Website hits, Emails generated, Twitter followers,

Retweets, Likes and comments How: Analytics embedded in the design will simplify and

reduce the cost of reporting Why: Significant expenditure (time and money) means

the Board need to demonstrate governance over the project.

Where: Annual report will highlight the project and can report the results from the initiative year on year.

What may/may not work A survey of clients asking whether support has

been helpful Ask commissioners (local authorities) whether less

addiction problems Number of clients attending sessions and

receiving support Payment by results (PBR) information required by

the commissioners

Summary Charities need help to make the most of their funds

Business techniques provide tools to help

Promotes efficiency

Informing decisions

Motivating the team to achieve targets

Demonstrating control

Use in reporting

Contact details

Nick Brooksnbrooks@ks.co.uk

Kingston Smith LLPDevonshire House60 Goswell RoadLondon EC1M 7AD

T: 020 7566 4000www.kingstonsmith.co.uk kingstonsmith