It is not an easy task to hire a company secretary. You have to be very perceptive and look for strong communicative, organizational management, planning, decision-making, and problem-solving skills. For the role of a company secretary, a combination of all these skills is a must. Private limited companies often hire corporate secretarial firms for smooth functioning and effective management.
How Can A Wrong Choice Of Secretarial Firm Affect Your Company?
An incompetent secretarial service provider can jeopardize the whole administration simply owing to his or her negligence. Not only they can bring legal complications, and but also lead to imprisonment along with payment of hefty fines. These incidents would thoroughly ruin your company’s reputation. Apart from this, many firms stoop to cheating. You can find such service providers frequenting the news for fraud cases. Therefore, you must rely on a trustworthy and experienced firm.
If you are looking for trustworthy corporate secretarial services in Singapore, then do proper research. You need to find firms like Morrison Management that have successfully provided comprehensive services for the past 30 years in Singapore and the Philippines. Their services include – appointment of a company secretary, preparation of board/shareholder’s resolution; provision of registered address, annual general meetings and extraordinary general meetings, statutory reporting, annual filings, maintain statutory books and registers, and XBRL filing.
What To Expect From A Company Secretary?
The prominent responsibilities of a company secretary are –
- Scheduling and organizing meetings of the company in compliance with the protocol.
- Advising the chairman and board of directors on their expected duties and responsibilities according to the rules and regulations of the company. A company secretary would also see to it that they discharge their duties effectively.
- Securing the constant flow of information between the board, committees, directors, and senior management.
- Avoiding discrepancies in the administration of a company.
- Liaising with bankers, legal advisors, auditors, tax consultants, and shareholders for board governance.
- Creating and managing systems that ensure that the company complies with relevant laws and legislation and company policy.
- Making sure that there is sufficient management procedure for all the available facilities.
Get The Right Secretarial Service Provider
The Accounting and Corporate Regulatory Authority (ACRA) has already computerized most of its operations. Technological advances have made many complex and time-consuming processes easy and hassle-free. You should expect your secretarial service provider to be tech-competent. In this way, all the crucial and voluminous works would be completed within a short time.
There should be no room for confusion. Having good communication among the management and governing board is vital. The secretary should suggest what is best for the company’s development and even challenge the board’s decision.
It is tough to ascertain how much it would cost you to get the services through an automated response or calculator. Some of the firms even try to sell their services with attractive low-price quotes. You should always be aware of these marketing stunts. Sometimes, additional charges, hidden costs, poor service, non-compliance to the Companies Act, and failing to meet the client’s requirements are a few of the reasons you should give up on the current secretarial service provider.