The Company Secretary (CS) is a senior position in an established organisation and is also known as Compliance Officer (CO). It is a position considered a part of the key managerial personnel of any company. The person who is a Company Secretary is considered responsible for the appropriate administration of the company, mainly focusing on ensuring compliance with statutory and regulatory requirements.
The role of a company secretary is not secretarial or clerical. This person’s work ensures that the organisation complies with relevant regulations and legislation and keeps the board members informed about the legal responsibilities. The company secretary is responsible for ensuring that the directors and the company operate within the law. Also, their work is to communicate with the shareholders and ensure that the dividends are paid on time. Let’s know about Company Secretary for Law Graduates in this blog.
The company secretary also works to maintain company records such as annual accounts, a list of shareholders, and directors. Also, it is a law in many countries to appoint one person as company secretary who is a senior board member of the organisation and can handle the responsibility well. This person must be aware of the current law and regulations, and the company must follow all these rules properly without any misconduct.
Law graduates can think about building their careers as company secretaries and gain earning potential immensely. This job profile will help law graduates to understand corporate compliances appropriately and grow in their careers.
Vast responsibilities and complex role of a company secretary: –
The Company Secretarial services (CS) has many complex roles, like acting as an advisor to the board members and helping systematically run the company. However, this role has many significant responsibilities, and the board members must choose the new company secretary wisely. The company secretary’s job is to ensure compliance with governance rules and legal obligations and execute many other tasks for the company.
The following are the primary responsibilities and duties of a company secretary: –
- Set the board agendas and track board members’ locations to ensure proper contact.
- Ensure compliance with all significant statutory filings.
- Supervise the implementation of any changes in the corporate memorandum and the loan capital structure of the company.
- Communicate with the shareholders, board members, and management team.
- File the resolutions acquired at the Annual General Meeting or new Articles of Association and any other filings required for the company’s future expansion plans and growth methods.
- Appoint new directors who manage entities and the board composition and subsidiaries of the company.
- Also, manage the board evaluations and board assessments.
These are some of the significant duties of a company secretary, and one has to be very particular about carrying out these tasks properly and responsibly. As most of the essential factors of the company depend on these decisions, it is necessary to choose a wise company secretary for the firm’s future.
Need for software for the company secretary: –
With the help of the internet, there are many advantages to various software for company secretaries. The following are a few of its best benefits: –
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To save time: –
The company secretarial software helps schedule and automate the most significant part of the company secretary’s filing requirements. Hence, this helps in saving time regarding the corporate memorandum, entity management, and company house filings. With the help of software, one can also allow the board members to update the information about various things to the company secretary immediately.
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To accelerate briefings: –
The software can help maintain a vast library of materials related to the ongoing director members’ operations. The briefings can be about the changes in the rules, changes in the market that the company serves, and all the other data can be placed at a place from where the directors can access it at any time, from anywhere. Also, with the help of software, one can update the board members regarding the meetings, agendas, and other plans.
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To assure secure and rapid board communication: –
The company secretary software can also help the board members communicate by taking an online meeting to discuss various terms regarding the company. It can help in communicating with the management team as well. The communication application is entirely secure and protects all the data adequately. Hence, with such software, the directors can use whatever devices they prefer, and whatever means they choose.
These were the benefits of using software for the company secretary. Hence, one can use many such excellent services with the help of different software and make the processes fast, secure, and rapid.
Do you aware of the Must Read Topic: Eligibility Criteria for Candidates to Become a Company Secretary
Advantages of having a company secretary degree along with a law degree: –
Law graduates can opt for a company secretaryship degree to get into different domains and explore great opportunities. If the company needs to hire a company secretary, they will prefer to recruit a person with a dual degree who can handle the company properly. Hence, qualifications matter greatly when getting an excellent job as a company secretary. One must complete the law and company secretaryship degrees from an excellent university.
If an individual is interested in business law, then there is nothing harmful in pursuing a company secretaryship. But, it is not advisable to pursue a career as a company secretary because one needs a lot of hard work and time to pursue a career. So, taking stress on such a task can spoil other job opportunities. It is recommended to get into this field only if there is time, interest, and willingness to work hard towards the significant tasks of a company.
It is essential to manage time while pursuing the two degrees of law and company secretaryship, as both these subjects need plenty of time to learn and explore the topics in detail. Many candidates get stuck after choosing the two fields and get into a dilemma in choosing the right career.
Conclusion
Hence, this was about the company secretary for law graduates; the above article also had brief information about new-age technologies and their help in the company secretaryship. One can pursue a career in this field to grow more in the area and earn a good amount of money. There are many advantages of pursuing a career as a company secretary, as one gets to take big decisions, manage the board members and shareholders, and handle the company.
An Indian law firm, ‘Vakilsearch’, works to provide the best assistance to various companies with the help of company secretaries. Hence, managing the books and records becomes easy with their assistance. Also, they provide the best services regarding compliance, taxation, and law. As a result, more than 500,000 customers trust Vakilsearch’s services and assistance.
Vakilsearch is India’s largest law firm, and the legal services platform has helped more than 10% of Indian companies register themselves. With a team of highly experienced lawyers, law consultants, and chartered accountants, they solve many cases every day and give positive results to their clients. One can get more information about company secretaries by contacting Vakilsearch’s team.
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