Prakasha & Co

The importance of a Company Secretary (CS) in the Business Environment

A Company Secretary (CS), is a great option for companies who want to make sure their business succeeds. The CS performs a range of tasks, including corporate law compliance, business administration and corporate governance. Flexible working hours are a key feature of this job.Admin Roles

Assists with corporate governance and administrative tasks

The company secretary is often referred to simply as the official record keeper. This role is essential to the smooth operation of a company. According to the Companies Act 2013, the  Secretary is the key managerial person for the Company. He or she is responsible to ensure that all business activities comply with legal regulations. The  secretary acts in the role of a liaison between shareholders and shareholders’ representatives, as well as the board of directors and other key stakeholders.

A company secretary is responsible for many administrative and corporate governance functions. He or she maintains company records, prepares reports and legal documents, and oversees the company’s operation. The task of conducting audits and investigating taxation can be given to him or her. A technical member of Company Law Tribunal can be the secretary.

CS and Board Decision

The role of the company secretary is crucial to ensure that the board’s decision-making process is in line with the Companies Act 2013. The role of the company secretary is to advise the board about good corporate governance practices and implement the board’s decisions. The secretary organizes and manages all committee meetings as well as board meetings. The company secretary prepares and distributes minutes from meetings. These minutes are often used in legal proceedings.

CS Role towards other stakeholders

The  secretary is also responsible to shareholders, creditors, society, and society for any misconduct, negligence, or other acts that may be committed in the performance of his or her duties. The company secretary cannot sign any contracts, take out loans or acknowledge any debts.

The  secretary also ensures that the company’s board follows its bylaws, charter AOA, MOA. The secretary coordinates communication with regulatory agencies for the board and assists the board in implementing its decisions. The board’s secretary ensures compliance with disclosure requirements such as related party transactions and interest disclosers.

A company secretary is usually a member or a sub-team of the company’s legal team. The secretary is responsible for preparing and disseminating shareholder and annual returns.

Others parameters of the Company Secretary

Good Communication & Organizational skills

There have been many changes in business due to the rapid growth of India’s business sector. Modern organizations have required a secretary to manage company affairs. To succeed in this job, it is essential to be able to communicate and organize well. A secretary must be able to perform multiple tasks at once. These skills can be acquired and improved with practice.

The law and regulations that apply to a company must be understood by a  secretary. He should be able to interpret financial reports and provide advice to the board regarding issues that affect the company. He should also be able to advise the board regarding ethics and regulatory matters. A thorough knowledge of corporate tax, insurance, and other terms is essential.

Company Secretary is a multiple profession

The company secretary must be able to manage multiple tasks and still remain professional and friendly. He should be able to communicate with clients and staff and be skilled in managing employee benefits and risk. The company secretary must be able to organize and document meetings.

The company secretary is responsible for maintaining a register of shareholders as well as their investments. He is also responsible for keeping all records current. He should also be able to prepare and file annual accounts on a timely basis. He must also be informed about any changes to the laws that govern companies.

Company Secretary is a Legal Officer

A company secretary is an important part of any company. He is responsible for maintaining the company’s existence and keeping the organization’s integrity. He provides legal advice to the company regarding issues such as insurance, conflicts of interest, and employee benefits. He is also able to assist with the administration of pension plans. A secretary also manages the office and handles correspondence.

Start your Company Secretary Journey at early

You should begin your journey to becoming a secretary as soon as possible. As more companies are looking for the best CS specialists to manage their entire gamut, the demand has increased significantly.

You can find more information about CS at ICSI India.

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