A deep understanding of the business should be in every staff of the company. But, what happens to the business like the operations, including the schedules of the staff and everything that happens in the company within the day is noted by the corporate secretary. A corporate secretary handles everything, all the legal documentation and compliance, including:
- Updating the company information
- Preparing and filing compliance documents
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Company secretarial services
Running a successful business or company involves more than just offering excellent products/services to the customers, such as various administrative tasks to accomplish. You need a company secretary when you need their professional services.
Company secretarial services involve handling administrative and compliance elements of a company. The role of a company secretary is to manage the following factors:
- Statutory compliance. It is a responsibility of a secretary to ensure the company complies all the legal and regulatory conditions, including:
- filing annual returns
- preparing and submitting financial statements
- adhering to tax obligations
When the company undergoes transformations, the secretary oversees these processes, such as:
- altering its structure
- increasing share capital
- modifying articles of association
The company secretary upholds and promotes good corporate governance practices in the company. They would ensure the following:
- Transparency
- Accountability
- Fairness
- Board support. A company secretary usually offers support to the board of directors through the following:
- organizing board meetings
- preparing agendas
- taking minutes
- ensuring decisions are implemented
- Shareholder communication. A company secretary allows smooth communication between:
- Company
- Shareholders
- The secretary handles the following:
- distribution of suitable information to shareholders
- organize annual general meetings
- manage the voting process, too.
Benefits of having a company secretary
Hiring a company secretary is not a requirement if you can do it by yourself. But, if you are busy enough with your specific position in the company or as an owner of the company, it is beneficial to hire a company secretary to do the job. Here are the reasons why hiring a company secretary is beneficial:
- specialists in company regulation
- establish and maintain reasonable governance practices
- ensure sensitive information (secure and private)
Hiring a company secretary saves you a lot of time. You don’t have to worry about ensuring you jump through every legal hoop. The secretary will do it for you and will let you know if something is wrong.