To succeed in the current cutthroat corporate world, companies need to effectively manage their peripheral operations. The compliance and regulatory norms guiding businesses today are quite complex. One requires a deep understanding of the industry along with legal knowledge to manage things effectively. This can be quite challenging when you don’t have a legal specialization. Even if you are well aware of the laws and regulations, finding time to manage it can be challenging. The main aim of a business owner should be to improve its core functionalities that could help with expanding the business. Hiring company secretarial services are one of the easiest ways to get the job done without worrying about the due dates or financial penalties.
What are company secretarial services?
Company secretarial services help to ensure that a business is complying with all the legal and regulatory norms set by the authorities. It keeps a check over the company’s business operations and ensures that all guidelines are kept in mind while conducting business activities. It minimizes the compliance and regulatory risk for different stakeholders in the company. The responsibilities of a company secretary are quite broad and encompass a wide range of functions. From company formation to advisory and compliance checks, they have a lot to offer.
Duties of a company secretary
The roles and responsibilities of a company secretary can vary depending on the type of business and industry. The core duties of a company secretary are related to corporate governance and compliance. However, they have an important say in most legal matters related to a business. Here are some of the most important responsibilities that a company secretary performs.
- Administrative functions
A company secretary plays a crucial role in effectively managing the administrative functions related to an organization. Some of the key administrative functions include communicating with shareholders of the company, maintaining different types of statutory registers, preparing general meetings, notice board issues. A company secretary is also responsible for keeping the company seal in safe custody. Besides this, they have to ensure that all decisions taken by the board are communicated properly to different stakeholders.
- Corporate governance
Corporate governance is at the core of the functions performed by a company secretary. Proposing good governance practices when it comes to running a company is one of the most important duties of a company secretary. They also help to ensure that the organization is complying with the corporate governance norms set by the authorities. Effective corporate governance becomes crucial as the business grows over time.
- Secretarial responsibilities
Some of the key secretarial responsibilities borne by a company secretary include the following.
- Formation and incorporation of the company along with the promotion of important matters related to the business.
- A company secretary works as an authorized representative of the company and is responsible for filing and registering the required document on the company’s behalf.
- A company secretary is also responsible for the transfer and transmission of the company’s shares.
- Important documents like statutory registers, books, and secretarial records are also maintained by a company secretary.
