Company secretarial services are often overlooked as an unnecessary cost for work that you, as the director of a company, could complete in your own spare time.
However, these services can play a crucial role in helping your company remain compliant, maintain good records and uphold the best governance practices possible.
What are company secretarial services?
Company secretarial services involve a range of administrative and compliance-related tasks that are essential for the effective management and running of a company.
It used to be a legal requirement to hire a company secretary. However, hiring one is still in your best interest – or outsourcing the role to an accounting firm or specialist to gain the same expertise for less money.
The responsibilities of a company secretary typically include:
- Statutory compliance: This includes ensuring the company remains compliant with all relevant laws, regulations, and corporate governance guidelines. A secretary is therefore responsible for filing annual returns, maintaining statutory registers, and submitting regulatory filings to government authorities.
- Board support: Secretaries usually support the board of directors by organising board meetings, preparing agendas and meeting minutes, and facilitating communication between board members and other stakeholders.
- Shareholder communication: A secretary will also maintain communications with shareholders, including issuing notices of meetings, distributing annual reports, and facilitating shareholder voting processes.
- Corporate records management: This involves maintaining accurate and up-to-date corporate records, including company registers, shareholder records, and board resolutions, to ensure transparency and accountability.
- Corporate governance advice: Company secretarial services usually involve providing advice and guidance to the board and senior management on corporate governance best practices, regulatory requirements, and compliance obligations.
The importance of company secretarial services
Effective company secretarial services are essential for lots of reasons. Do you see any that would apply to your business?
- Compliance and risk management: Companies are subject to a myriad of legal and regulatory requirements that must be adhered to. Failure to comply can result in penalties, legal disputes, and damage to the company’s reputation. Through company secretarial services, you minimise this risk.
- Corporate transparency: Company secretarial services ensure that all corporate records are properly maintained and accessible to stakeholders, enhancing transparency and accountability.
- Effective governance: Good corporate governance is essential for building trust with stakeholders and safeguarding the interests of shareholders. Company secretarial services can help here as they often involve supporting the board of directors and senior management in fulfilling their governance responsibilities.
- Efficiency and productivity: By taking care of administrative tasks and compliance obligations, company secretarial services free up time and resources for businesses to focus on their core activities and strategic objectives.
- Professional expertise: Qualified company secretaries bring a wealth of knowledge and experience to the table, providing businesses with invaluable insights and guidance on corporate governance matters.
- Peace of mind: Knowing that compliance matters are being handled by experienced professionals can give businesses peace of mind and confidence in their operations.
How can we help?
Company secretarial services are designed to keep you compliant, ease your administrative burden and save you time. Ours do too.
So, if you are looking for a company secretary who can help you, read more about our company secretarial services or get in touch with us today.