What You Have to Know About Company Secretary Services
Company secretaries have grown increasingly important in recent years. While a general perception might be that they take notes, schedule meetings, and make coffee for the boss, the role of a company secretary goes far beyond these day-to-day administrative tasks. So, if you’re keen to learn what a company secretary does and where you can find company secretary services, keep reading!
So, What Does a Company Secretary Do?
Essentially, the Corporate Secretary plays a major role in making sure the company operates smoothly. Company secretaries are hired to help company directors direct, manage and control the firm. The secretary oversees corporate governance, which is the company’s ethical and legal framework.
These secretaries also manage Statutory Compliance, guaranteeing the company adheres to all relevant laws and regulations. This includes preparing and filing numerous reports and forms, maintaining stock regulations, and communicating with the company’s shareholders.
Is a Secretary Mandatory for My Company?
According to the Companies Act 2006, hiring a company secretary is not legally required. However, the company still has to adhere to the Companies Act. If the company chooses not to appoint a company secretary, the duties and responsibility to ensure compliance will fall on the director instead.
Do I Need Formal Qualifications to Become a Secretary?
A formal qualification is optional for company secretaries in private businesses. However, the Chartered Governance Institute (CGI) offers qualifications for those seeking a professional designation in the UK and Ireland. Alternatively, qualified accountants, solicitors, or barristers can also fulfil the role of company secretary — leveraging their existing legal or financial expertise
Do I Need an In-House Secretary or Should I Outsource?
If you’re still deciding whether to hire an in-house secretary or outsource to a company secretary service, the table below can help you make a better decision.
| Feature | In-House Company Secretary |
Outsourced Company Secretary Service |
| Cost | Cost of employment (including training, office space, etc.) | Fixed monthly rate and potentially reduced cost |
| Expertise | More training might be necessary | Access to a team of experienced professionals |
| Time Commitment | Dedicated staff members are needed | Frees up internal staff time so that they can focus on the core business |
| Compliance and Regulations | Requires proactivity on secretary on company’s behalf to stay up-to-date | Ensures compliance with the latest regulations |
| Scalability | Limited to one person’s capacity | Scales according to the company’s needs |
| Confidentiality & Security | Requires internal security measures | Robust security protocols |
| Availability | Restricted by business hours | 24/7 access to support (depending on the service package) |
We’re Here to Help
Are the administration tasks burdening you? You don’t have to do everything yourself! 3E Accounting provides a wide range of solutions, from payroll and accounting to secretarial services. If you’re looking for reliable administration and secretarial support, contact us today, and we’ll get you started!
