The role of a company secretary is not a clerical or limited to the secretarial one in the usual sense. Now the responsibilities of the company secretary have evolved from that of a "note taker" at board meetings or "adm
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2024
The role of a company secretary is not a clerical or limited to the secretarial one in the usual sense. Now the responsibilities of the company secretary have evolved from that of a "note taker" at board meetings or "administrative servant of the Board" to one which encompasses a much broader role of acting as "Board Advisor" and having responsibility for the organisation's corporate governance. Comment.
Answer & Explanation:
Company Secretaries are globally recognized as the part of the senior management of the company. However, the company secretaries are typically named a corporate secretary or secretary in the various countries according to the prevailing law in such country. In any company, the role is not clerical or limited to the secretarial one in the usual sense. Now the responsibilities of the company secretary have evolved from that of a "note taker" at board meetings or "administrative servant of the Board" to one which encompasses a much broader role of acting as "Board advisor" and having responsibility for the organization's corporate governance. The company secretary ensures that an organization complies with relevant legislation and regulation, and keeps board members informed of their legal responsibilities. Company secretaries are the company's named representative on legal documents and it is their responsibility to ensure that the company and its directors operate within the law. The Board as a whole, particularly the chairman, relies on the company secretary to advise them not only on Role of the directors' and their statutory duties under the prevailing law and various disclosure obligations but also in respect of corporate governance requirements and practices and effective board processes. This specialized role of the company secretary has emerged to position them as one of the key managerial personnel within the organization. It is also their responsibility to register and communicate with shareholders, to ensure that dividends are paid and to maintain company records, such as lists of directors and shareholders and annual accounts. In many countries, private companies have traditionally been required by law to appoint one person as a company secretary and this person will also usually be a senior board member.
Topics: Company Secretary
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