Company secretarial services are an important component of business administration.
Primarily concerned with corporate governance, effective administration and compliance with regulations, company secretarial services encompass a wide range of legal, ethical, and corporate responsibilities.
Within the piece, we will highlight why company secretarial services are crucial and why engaging a specialist, like Isosceles, can be a shrewd move.
Company Secretarial explained: The board, company and shareholders
Whilst it is not a legal requirement to formally appoint a Company Secretary, a company must comply with several requirements under the Companies Act. In the absence of an appointed Company Secretary, such responsibilities rest with the Director(s) of the company.
Broadly, a company secretary is concerned with three critical areas: the board, compliance with the Companies Act and the relationship with the shareholders.
- A company secretary will ensure all necessary information is provided to board members and proper procedures followed.
- The secretary will ensure compliance with legislation.
- They will also be the primary point of contact for shareholders.
As such, a company secretary must have knowledge of, or experience working with, the Companies Act and be knowledgeable of company law.
Related article | Institute of Directors Fact Sheet – The Role of The Company Secretary
Duties: Keeping you legal
A business is not required by law to formally appoint a company secretary, but as the guardian of the company’s proper compliance with law and best practice, it is wise to appoint one.
Specifically, a company secretary can complete all tasks associated with the formation of the company (if required) and will meet ongoing requirements such as:
- The maintenance of the company’s statutory books.
- Providing ongoing board-level support.
- Managing the annual general meeting process (AGM).
- Flexibly respond to any ad hoc queries as they arise.
Why use a Company Secretarial service provider?
Specialist providers, like Isosceles, can tailor their provision of company secretarial services to the specific requirements of their clients. By doing this, they can deliver a comprehensive range of company secretarial support to assist their clients with their ongoing needs.
Outsourcing company secretarial duties offer considerable advantages:
- They are professionals and know what needs to be done.
- They will effectively manage your duties and responsibilities.
- Release the Directors to focus on managing the business.
- Minimise the risk of non-compliance and penalties.
- Implement best practice.
How can Isosceles help?
At Isosceles, a cross-section of professionals deliver our company secretarial services; our finance directors and controllers are supported by the wider accounting, finance, and HR team.
Related | Case study: Isosceles grows global EPM provider to a successful exit
From company formation and ongoing requirements to board-level support, AGMs and ad hoc tasks, Isosceles can provide company secretarial support as a stand-alone offering or as part of a blend of support to supplement existing outsourced accounting, FD services, and HR services.
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