What makes a good company secretary?

The company secretary is a strategic position which deals with handling governance operations within an organisation. Governance describes how an organisation is directed and controlled. This calls for a company’s strategy and decision making, determining how aims are accomplished, and ensuring that activities undertaken adhere to legal, ethical, and regulatory needs.

Possessing a large skill set, including corporate law, governance, finance, strategy, and corporate secretarial practice, a company secretary advises a company’s board on these matters and provides support to the CEO, Chairman as well as non-executive directors.

Considering that the duties performed by a company secretary are complex in nature and wide in scope, a company secretary should have the following qualities and qualification to act efficiently.

Educational qualification

A company secretary has to work with many people of name and fame. He is thus required to have higher education for clear and in-depth understanding. He should have the latest general knowledge necessary to perform business operations efficiently. Moreover, since company secretaries represent an organisation to the outside world, they must have proficiency in language to be well conversant.

Professional qualification

As a company secretary has to deal with agenda, notice, resolution, and minutes of a meeting, he must have specialised knowledge on secretarial practice. He must be well versed with office correspondence with communication. He should maintain good relation with all stakeholders and have sufficient knowledge about human relations. In addition, it is important for a professional delivering company secretary services Sydney or anywhere across the world to have adequate and latest information about Companies Act, Income Tax Law, Industrial and Commercial Law, Accounting Principles, Stamp Act, and rules of Securities and Exchange Commission (SEC) to handle legal and statutory affairs efficiently. Better understanding about the capital market, foreign exchange, and socio-economic condition is also necessary to get a handle on trading and financing. Apart from this, a company secretary must have adequate knowledge to work with computer for documentation and to use data or information in future.

Personal qualities

A company secretary represents a company and performs several complex tasks, therefore he should have the following qualities:

>> Loyalty and courtesy
>> Punctuality
>> Honesty and integrity
>> Disciplined and professional approach toward work
>> Tactfulness

Responsibilities undertaken by a company secretary

The responsibilities of a company secretary are influenced by certain factors, including the level of job role, the size of the company and sector in which it serves. However, responsibilities include:

>> To guide the Board and the Chairman on their responsibilities and how responsibilities should be discharged.
>> To help the Chairman in ensuring that the board functions are carried out effectively and efficiently.
>> Ensuring that the information flowing within the board as well as its committees, and between senior management as well as non-executive directors is good.
>> Building and maintaining good relations with shareholders and sharing shareholders’ views with the board of directors.
>> Working out and managing the systems that help ensure that the organisation adheres to all applicable codes, along with its legal and statutory needs.
>> Analysing changes in relevant legislation and taking relevant actions.
>>Monitor day-to-day administration of the organisation, such as maintaining registers of members, directors and secretaries, statutory books, organising board meetings, and preparing meeting agendas.

The role of a company secretary has grown into much more than simply the basic statutory needs. The responsibility to develop and implement processes for promoting and sustaining good corporate governance lies on the shoulders of company secretaries. With the changing dynamics of the boardroom, directors and chairmen are realising the need for technical knowledge and specialist skills in this area and they are relying on company secretaries for this expertise.

However, if you are looking for company secretary services Australia, make sure to bring the right professional on board – someone who is experienced, reliable, and has all knowledge needed to carry out the tasks of a company secretary efficiently and effectively.

Nov 30 2016