The name change for the professional body followed extensive consultation with the membership, and a bid to underline the importance of chartered status.

Clarifying the reason behind the overhaul of the professional body, John Heaton, president of the Chartered Governance Institute said: ‘The change of name reinforces the point that we are the only professional membership body able to award chartered status to company secretaries and other professionals working in the field of governance.

‘The Institute has always moved with the times to reflect the work that it does, which is why it has undergone several name changes during its history.

‘Having started life in 1891 as the Institute of Secretaries of Joint Stock Companies and Other Public Bodies, the Institute became the Institute of Chartered Secretaries and Administrators in 1971.

‘Subsequently, the role expanded beyond the corporate world as there became a need for governance professionals to provide advice and support to other sectors of the economy, hence the reason we adopted the name of ICSA: The Governance Institute.

‘Demand for good governance is increasing across all sectors of the economy and our Royal Charter purpose of leading “effective and efficient governance and administration of commerce, industry and public affairs” continues to be relevant today.’