This may come as a surprise to some, but company secretaries actually do more than just filing paperworks, answering office phones and scheduling appointments. In fact, a company secretary plays an integral role in a company and should meet the requirements stated in Section 235 of the Companies Act 2016. Here are some crucial factors to consider before deciding on the corporate secretary for your company.
Eligibility of a Company Secretary
In accordance to Section 235 of the Companies Act 2016, a company must have at least one company secretary that is:
At least 18 years old
Resident of Malaysia
Licensed by the Registrar of Companies
Registered under Malaysian Institute of Accountants (MIA)
Registered Malaysian Institute of Chartered Secretaries and Administrators (MAICSA)
Registered with Malaysian Bar
4 Factors to Consider When Hiring a Company Secretary
1. Having Clear Understanding of the Malaysian Company Laws
As a secretary is the legal assistance of a company, make sure to appoint someone that is familiar with the laws and regulations of Malaysia. This is to avoid any risks of your company breaching certain laws and incurring penalties or getting yourself into court cases not in your favour.
For example, company secretary of an auditing firm should know when to submit the audited annual reports to the registrar, failure to do so will result in fines which is not ideal.
2. Proficient Communication Skills
A company secretary acts and represents the company while conversing with external stakeholders such as shareholders and directors.
They must also be able to facilitate general meetings, annual general meetings as well as meeting with the directors of the company.
3. Administrative Skills
Company secretaries should also be able to handle other financial tasks such as filing tax returns as well as annual reports. The tasks includes being able to pick up calls and answer any quires from potential clients.
4. Efficient Financial Analytic Skills
A company secretary would need to handle financial statements, so make sure to look for a secretary with an above average financial knowledge.
This will lower the risks of misstatements made by inexperienced secretary, causing the company to make a loss because of a simple information the inexperienced secretary has missed out.
If you are looking for a trusted and experienced company secretary, reach out to us via WhatsApp at https://wa.me/60143248237 for taxation services.