Disproving 5 Company Secretary Myths in the Philippines
The workplace is an overly complex system of processes, people, and other factors. Thus, it is unavoidable that people from the outside assume and confuse business company positions and business activities in some strange ways. As such, the job of a company secretary is not one of the lucky things to escape this.
This article discusses company secretary myths. Here, we will explain why and how they are only myths and not the truth. Further, we will establish what actually happens in the business world.
Company Secretary Myths: What’s the Truth and What’s Made Up
The Philippine workplace is filled with so many misconceptions. This is mostly the effect of what others see from the shoreline perspective. Here, we will dive deeper into the job of company secretary.
The role of the company secretary is primarily administrative. He assists company leaders with their work to create a good workflow. Further, he is responsible for record-keeping, taking calls and emails, making notes of meetings, etc.
But the role of the company secretary is not purely just that. Let’s look and disprove at the 6 most common company secretary myths in the Philippines.
Company Secretary is Optional
The very first company secretary myth that needs to be corrected is that this position is optional. That the position of a company secretary is unnecessary. That is wrong. The corporation law itself says that every corporation has a secretary. Therein, the basic requirements and his general roles are said. If the law itself requires companies to have secretaries, then their roles must be important.
The company cannot work fluidly without a company secretary. Each company officer has its duties, and the secretary is there to create links for the officers, stockholders, and directors to communicate. This means that the secretary is needed to make sure that the information they get is correct.
Only Performs Clerical Tasks
Movies and books usually picture a company secretary as the one who fetches coffee and meals for a boss. This is a big mistake. The company secretary is not a maid.
In addition to the common clerical tasks, the company secretary supervises many different departments. For example, the secretary ensures that the company makes financial reports on time. Therefore, he has the power to oversee the works of accountants.
Requires a Law Degree
While it is true that becoming a corporate secretary requires enough knowledge about laws and policies, it is not true that he must have a law degree. This misconception came from the fact that secretaries are in charge of making sure that the company obeys business laws and regulations.
Furthermore, this legal knowledge will also be helpful when the company faces issues in conducting its business. This is sometimes unavoidable, especially in fast-paced businesses with very tight competitions. With a knowledgeable secretary, these problems can be avoided or resolved easily.
The Position is for Anyone
The company secretary is a job that needs competence and trust. He handles so many nonpublic documents and information. Additionally, he is crucial in the workflow of the business. Therefore, the company cannot just hire anyone for this role.
The company secretary must be reliable, capable, knowledgeable and skilled. Further, the company can also specify what qualifications and experience they require for the position. Because the secretary works at the top, it is important to make sure that only the right person gets the role.
The Secretary is Passive in Company Decisions
The company secretary is part of the governing body of a corporation. Although the role usually is on receiving orders and decisions, the corporate secretary has the power to voice out suggestions during meetings.
The company secretary oversees many functions. Therefore, he has insights into the business. This insight might add weight to important decisions.
3E Accounting: Boosting Quality Company Secretary Services
3E Accounting Philippines recognizes how crucial the role of company secretary is. We know that the secretary should be dedicated and competent when performing tasks. Our team of experts offers solutions with our corporate secretary services in the Philippines. We are the firm you need to resolve your corporate issues.
Contact 3E Accounting today to learn about how our services will benefit your company.