Roles and Responsibilities of a Company Secretary
All companies that are incorporated in Singapore are required by law to appoint a company secretary services Singapore within six months of incorporation. The ideal candidate should be a resident of Singapore. For a company that only has one director, there is a need to appoint a company secretary, however, for that with several directors, one of the directors can as well act as a company secretary. Engaging a CA company that offers professional services can be of help when it comes to appointing a highly qualified company secretary.
The appointment of a company secretary usually is made by the board of directors of the registered company. The ideal candidate should be well qualified and a member of the Institute of the Certified Public Accountants of Singapore.
Why you need to hire a company secretary services Singapore
The hiring of a company secretary is quite essential as it helps with ensuring the smooth functioning of the board procedures and the improvement of business processes. The company secretary that is to be appointed should be knowledgeable about all the legal and statutory requirements that companies should adhere to. Working with company incorporation specialists such as Onestop-ca.com helps with ensuring that a company settles for individuals that are well qualified and conversant with their roles and responsibilities.
The roles and responsibilities of a company secretary are quite diverse and can be categorized into three classes. Some of the key roles and responsibilities include;
To the Incorporated Company
Some of the key roles and responsibilities of a leading company secretary services in Singapore is to ensure that all of the relevant statutory requirements are met, the business interest of the company is well protected, and quality corporate governance is observed within the organization. The company secretary is expected to always be present at the registered company’s office address.
A company secretary is in charge of the business and operational duties of the company. They also take care of transactions that involve the distribution of shares alongside the documentation of all of the company transactions.
To the Company Directors
The company secretary serves as an advisor to the company directors alongside any practical support that might be required. The secretary should be able to share with the relevant personnel any vital information, and their full participation is required during board meetings. They are also charged with arranging for director and shareholder meetings. They should be able to provide administrative support about the preparation of meetings.
To the Shareholders
The company secretary should be ready to communicate regularly with the shareholders and ensure that their rights are protected. There should be timely dissemination of financial statements that enable shareholders to take part effectively in the decision making process during the company’s Annual General Meeting.
The core responsibilities of the company secretary include tasks such as;
- Observation of statutory compliance with ACRA. This entails filling the annual company returns on time and keeping the relevant registers updated.
- Organizes for board meetings to facilitate the formal decision-making process of the company. The company secretary also holds for annual general meetings in compliance with the statutory requirements.
- Corporate governance.