Summary
- The IICA has mandated that all individuals in the Independent Directors Databank pass the Online Proficiency Self-Assessment Test within two years of registration, or face removal from the databank.
- The test consists of 50 MCQs covering companies law, securities law, basic accountancy, and corporate governance, with a passing score of 50%.
- Candidates can attempt the test an unlimited number of times after a one-day gap, but failure to pass within the deadline results in permanent deletion of their profile.
- This requirement highlights the importance of compliance for independent directors and underscores the need for adequate preparation through available e-learning modules.
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