Things to Consider in Choosing the Right Company Secretary in the Philippines
The law requires every corporation to have a corporate secretary. The secretary handles supervisory tasks, so the job requires corporate and managerial skills. This means that companies should make sure that they find and hire the right company secretary.
How do you ensure this? Applicants must fit the roles secretaries take. Don’t worry. This article lists the roles and characteristics the right company secretary should have.
Looking for the Right Company Secretary: Roles and Attributes
When looking for the right company secretary, you should gauge if the applicant fits into secretary roles. Further, the applicant should possess the required skills and characteristics for the job.
The role of a company secretary is primarily administrative. He is responsible for communicating important information with other corporate officers. Further, he has the duty to give general admin help. He ensures the decisions are carried out and smooths out rising issues. Lastly, he secures that the compliance complies with statutory requirements.
The articles of incorporation and by-laws of the company should state the specific tasks of the secretary. These should state the particular credentials and traits your company secretary should have.
On the other hand, the general practice provides for the roles the secretary will have to take on. We listed below the general tasks performed by a company secretary. When hiring someone to fill the position, you should be able to tell that he is fit for these roles.
Corporate Governance
This secretary plays an important role in the governance of the company. The secretary has to make sure that the Board of Directors (BOD) receives relevant and accurate information. These pieces of information are necessary to make decisions.
If the secretary is lax, inattentive, and unorganized, the channel between the rest of the company and the BOD will be compromised. Further, he should also be knowledgeable about the company’s industry, its laws and regulations so he could tell which information is relevant or not.
Documentation and Record-Keeping
While the secretarial staff can do the actual filing of records, the corporate secretary is responsible for ensuring the accuracy of these records. He should make sure that these records correct and are placed in their proper storage.
Moreover, the secretary should keep track and note of these important activities and decisions. Here are a few of the things that the secretary would have to put in the record.
- Changes to the Articles of Incorporation and By-laws
- Changes in company name or address
- Significant changes in capital stock
- Communication with stockholders
- Stock Issuance
Preparation of Meetings
The corporate secretary is in charge of ensuring that the regular board and stockholder meetings come through. The secretary will be the head of organizing these meetings. He will look after every detail, arrange schedules, agenda, place, presentations, materials, and others. He must attend the meetings and see that everything goes in order.
Compliance
The corporate secretary also ensures that the company is complying with the requirements. He should see if the company is following the laws governing corporations and businesses. If it is not, he will have to address these issues.
Furthermore, he should also make sure that the company is on-time in filing and payments to regulatory agencies. In particular, he ensures the periodic compliance with Securities and Exchange Commission (SEC), the Bureau of Internal Revenue (BIR), or the local government.
Attributes of a Corporate Secretary
These are the characteristics and skills you should be looking for in a company secretary.
- Organization skills
- Leadership skills
- Written and spoken communication
- Multitasking skills
- Critical thinking
- Problem-solving skills
- Ability to manage other functions
- Ability to work under pressure
- Confidentiality
- Sound judgment
- Resourceful
Upgrade Output with Secretarial Firms
Service firms are now a rising trend. Companies hire them to handle different company tasks for them. And these firms have been proven helpful. Aside from hiring trained professionals to do your tasks, it is more efficient. What’s more? You don’t have to go through a time-consuming and meticulous hiring process.
Do you need assistance? 3E Accounting is now offering company secretary services. Offering honest and reliable secretary services, we ensure the utmost credibility to clients. Contact 3E Accounting today to know more.
