For What Purpose Do You Need a Company Secretary?

A company secretary is one of the main representatives of a company who has widespread responsibilities and tasks that he/she has to cater to in order for the company to be on the right track. Company secretaries have to know the company inside out, as they are required to advise on everything from legal documentation to business meetings and accounts-related matters. The tasks and responsibilities of a company secretary include the following.

Arrangement of Meetings 

It is the secretary’s responsibility to arrange and schedule meetings of the directors and shareholders. The secretary is responsible for getting the message out to the required individuals for the meeting. Creating a line up of the whole meeting is also a secretary’s responsibility. It can include the core purpose of the meeting and the financial reports of the company. The secretary observes the meeting and notes down the attendance and minutes of the meeting.

Preserving Books

For the company to be up-to-date with its legal information, the secretary has to maintain the information of the company’s statutory registers. These registers include dividends and shares of the director, substantial shareholders, present and past officers of the company, charges of the company’s holdings, meeting minutes, and signed board resolutions.

Ensuring Proper Insurance

It is the responsibility of the company secretary to make sure that all employees, officers, and directors of the company are fully secured with insurance. She/he also has to make sure that proper insurance policies cover every inch of the property.

Keeping Everyone Informed

The secretary has to make sure everyone associated with the company is up-to-date with managerial or legal changes. An example of this job role in action is when a new member joins the company or if someone resigns. The shareholders, officers, and staff should always be in the loop. If there is a change in the address or contact number of the company, the company secretary should inform the clients about it and instantly update the changes on the company website. Secretaries also correspond information between the shareholders and directors.

Keeping a Check on Accounts

The company secretary is responsible for checking that all the accounts of the business match the legal requirements. After performing proper checks, he/she has to create a proper report of the findings.

Providing Advisory Services

Company secretaries not only carry out the responsibilities of the company, but they also play an important role in counseling and advising directors on different business matters and decisions. By doing this, they ensure that the decisions comply with all the applicable industry laws. A secretary is expected to keep reminding the director of their responsibilities and pending tasks.

Here’s a list of some other important tasks that a company secretary performs.

• Registration of VAT 
• Observation of safety and health requirements
• Appointment of a new officer or director
• Ensuring the name of the business to carried out on anything it associates with
• Payrolls
• Submitting important documents on time 
• Issues share certificates 
• Keep track of shareholders
• Pension Schemes 
• Company Policies
• Fringe benefits 

Conclusion

If you do not know, you can now outsource company secretary services. Such services have proven to be extremely beneficial for small and medium-sized businesses to cut their operational costs.