As a sign of how the corporate world is facing ever more regulatory scrutiny, a business school in Hong Kong has launched an MSc degree covering compliance and corporate governance.

HKBU School of Business has launched a Master’s degree course in corporate governance and compliance to boost the number of people qualified in this space as global regulations continue to mount.

The first intake of 40 course entrants will be admitted in September this year, the organisation said in a statement yesterday .

The programme is fully accredited by The Hong Kong Institute of Chartered Secretaries (HKICS) and The Institute of Chartered Secretaries and Administrators in the UK. It prepares directors (including independent non-executive directors), company secretaries, and professionals in related fields to strengthen sustainability and accountability of their organisations. 

The decision to launch such a degree course highlights how around the world rising compliance burdens on institutions such as banks are creating demand for skilled professionals. A series of high-profile money laundering scandals - such as around Malaysia's 1MDB fund, for example - have put the need for such talent under the spotlight. The problem has been building for some time; two years ago, for example, this publication noted data from organisations such as Robert Walters, the recruiter, about shortages in Hong Kong and Asia.

Students will obtain a degree at Master's level in one and a half years on a part-time basis, and be eligible to apply for full exemption from the qualifying examinations of HKICS and ICSA. Graduates who go on to become members of HKICS are qualified for appointment as company secretaries of listed companies under the Listing Rules of the Stock Exchange of Hong Kong. Membership of HKICS is one of the three professional qualifications recognised by the Stock Exchange of Hong Kong as necessary for fulfilling this position, HKBU School of Business said.

"Businesses face ongoing challenges in terms of corporate governance and sustainability," said Professor Ed Snape, dean of HKBU School of Business. "We are responding to calls from the business sector for qualified professionals in this area.”

The HKBU School of Business was founded in 1956.