The job description of a company secretary is to take care of the legal affairs of an organization or a firm. A company secretary’s responsibility is to adhere to legal customs and financial principles of an organization. A company secretary also needs to attend company meetings with stakeholders, company’s shareholders as well as board of directors. They need to be prepared with answers for questions which may get raised by stakeholders during the meeting. A company secretary acts as a mediator between the company shareholders and board of directors.
The qualification required to become a company secretary is that he should be a graduate in any field, and complete the course of company secretary from Institute of Company secretaries in India. If he has done diploma or any other additional course then that would be considered as an added skill. The company secretary should have a thorough knowledge about company’s rules and regulations. He should have a ready access to all the required details about the company as and when it’s needed. He should take the responsibility of scheduling meetings with board of directors and organizations’ legal advisors.
The duty of a company secretary is also to process records for legal memo of the company. In addition to conducting annual general meetings, a company secretary also need to prepare the records for minutes of meetings with the shareholders. A company secretary needs to monitor the required changes in legislation and regulatory management. He needs to take care of financial management, the insured property of the firm and due payment if any. He collects writing reports, updated data and takes decisions with regard to tax and accounting.
Thus company secretary’s profile is quite a significant profile as it is involved in the well being and growth of the company. Although company secretaries are not legal advisors yet they have a deep understanding of the norms that affect the part of their work. A company secretary has to be appointed by public limited companies legally as per the rule. And as far as private companies are concerned, many companies have also started appointing company secretaries. This is precisely the reason why public limited companies ensure that they appoint an efficient candidate who can fit into the role of a company secretary. These companies are largely dependent on company secretaries and hence only the one who fulfils all the requirements of the company gets appointed as a company secretary.