What Are The Requirements Of A Good Company Secretary?
How do you choose a good and suitable one for your company? Here are the 4 major criteria or requirements of a good company secretary
Company secretary plays an integral role in a company and its role is more than just filing paperwork or performing basic duties of a regular secretary. Today, a company secretary acts more in the capacity of an advisor to the company than just a mere administrator. As a result, company secretary is required to be highly versatile so that she/he can regularly review the board procedures and advises the board of corporate governance matters. Here are the factors to consider when choosing a company secretary:
1) Qualification of a company secretary
He or she must possess at least one of the qualifications below:
- A chartered accountant who is registered under the Malaysian Institute of Accountants (MIA).
- A chartered secretary who is registered under the Malaysian Institute of Chartered Secretaries and Administrators (MAICSA)
- A licensed secretary who is licensed by the Company Commission of Malaysia (CCM) to be a company secretary
- A lawyer who is registered with Malaysian Bar or any relevant authorities
2) Experienced and well-versed with company law
Laws and regulations are wide and complex therefore a company secretary should possess in-depth knowledge of Malaysia Companies Act and all of the annual requirements. The company will be penalized if the authority did not receive the company’s annual report or filing and it is the responsibility of the company secretary to ensure that the company abide by the rules.
3) Good communication skills
The company secretary usually acts as a communication channel between directors, shareholder and is solely responsible in facilitating the Annual General Meetings (AGM) and board meetings. Hence, it is only rationale is the secretary have excellent communication skills in order to liaise with them. Company secretaries also serve invaluable advisory role, given their wide-ranging knowledge on laws and compliance frameworks as well as the company’s internal governance. They are often relied on for their advices and act as a communication channel for the directors and shareholders relating to the formulation of strategies or any decision-making process.
4) Good organization and administrative skills
Most of the company’s official documents and registers are handled by the company secretary. She/he is the bookkeeper of the company who deals with all filing matters and are responsible to file any statutory changes and updates of changes in capital share structure. Other filings such as annual returns and financial report are also done by the secretary along with assisting in drafting and execution of official contracts, agreements and board resolutions.
Now that you know the 4 major requirements of a good company secretary, be sure to check them off when you are searching for one. MISHU has qualified and experience licensed company secretary and also advisors who are well verse with company laws. Click here to learn more about our company secretary services.
The view expressed in this article is intended to provide a general guide to the subject matter and does not constitute professional legal advice. You are advised to seek proper legal advice for your specific situation.
Credit: Website Designer Malaysia by Rozzario Digital Agency