A company secretary is a senior role in a private sector company or a public sector organisation. Many people mistake the course for a clerical or secretarial in nature. A company secretary ensures that effective administration is carried out. They also ensure that the company meets the statutory and regulatory requirements.
The Company secretary is a registered member of the ICSI and they will work as
- An in house legal expert; a compliance officer of the company.
- A chief advisor to the board of directors on the best practices in corporate governance
- An expert when it comes to corporate governance, corporate laws, securities law & capital market.
- They are responsible for all regulatory compliances of a company.
- Strategic manager and a Corporate planner.
After the companies act in 2013 the role of a company secretary has become much more prominent. Also under the companies act there are a significant requirement and position for CS.
What are the major roles that a company secretary must look into?
- Guide the company - The CS will advise and suggest the role and power of the chairman and the director of the company.
- Company Secretary Audit - The CS ensures that the company follows proper laws and guidelines set in the memorandum so that they can make easy functioning of the organization.
- Legal advisor for business - They are well versed with the laws of the company and they work as legal advisors for the company. During the law of court matters, they will advise the company to take the right steps as they are well versed in such matter.
- Keep a proper record of legal works - The CS should keep a proper record of information regarding investors, shares, directors and members in the record.
- Schedule company meetings - They are responsible for arranging the shareholders and company board meetings.
- Maintain company records - Its the duty of the CS to maintain the records of the company such as
- Pension and insurance details
- VAT registration
- PAYE information
- Tax records and Accountancy
- Statutory compliance records
- Command over corporate governance - The company secretary will advise the board of directors on corporate governance and the director’s duties. This will include various aspects such as shareholders, issues of conflict of interest, investor guidelines.
- Company statutory register - Companies are expected to keep certain statutory registers such as registers for - directors, charges, allotments, transfers, members, secretaries etc.
As mentioned earlier the role of the company secretary has broadened and more direct responsibilities have come into effect since the companies act of 2013. So it is definitely one of the best professional courses a student can look into after their graduation or the completion of +2.