Learn Which Firms Can Act as Company Secretary Today and Get the Help Along With the Expertise You Need!
If you own a registered company in Malaysia, you need a company secretary. There is also an alternative. You hire a firm to have the secretarial role fulfilled. In fact, conventional secretaries may make investments of time and training to cultivate the manpower you need, apart from being licensed by the Companies Commission of Malaysia (SSM) whilst a firm dedicated to that service may have the experience, if not more, to fulfil your secretarial needs. Learn which firms can act as company secretary today and get help along with the expertise you need!
Why Do You Need a Company Secretary?
The company secretary is one of the most critical roles in any company. This is because of the vital nature of the position. To illustrate, company secretary duties include:
- Responsible for the company’s general administration.
- Ensuring that the company complies with regulatory and statutory requirements.
- Filling role in governance and implementation in the company.
- Filing annual tax returns.
- Preparing board meetings and minutes.
- Person of reference (shareholders).
- Play the advisor role.
- Other forms of documentation.
Legalities of Having a Company Secretary
As mentioned earlier, a company secretary will need to be licensed by the Companies Commission of Malaysia (SSM) and fulfil several criteria. These are mandated under Sections 139A (a) and (b) of the Companies Act 1965. Of course, this applies to chartered accountants, chartered secretaries, lawyers, and licensed secretaries. Among the conditions are:
- At least 18 years old.
- Not bankrupt.
- Have not violated Section 130(1) of the Companies Act.
Aside from the requirements, there are also restrictions applicable to secretaries such as those from Professional Ethics, Conduct and Practice; Malaysia Institute of Accountants and Section 264 of the Companies Act 2016. Violation can incur hefty fines!
Benefits of Hiring a Firm
Knowing all the requirements and restrictions, it can be a daunting task in hiring a full-time company secretary as there are many considerations and associated risk and cost. So, hiring a corporate service provider may prove to be a more viable alternative, saving you time, money and providing you with peace of mind. Accredited professional secretaries will be selected to fulfil all the jobs as mentioned earlier at a price. The following will list down other potential benefits.
The Secretarial Service is Comprehensive
You will have your routine roles that most secretaries can perform. However, should certain non-routine requirements emerge, their services are mostly backed by a team of professionals with vast experiences and the know-how to navigate many situations? From changing your company name to other resolutions, they likely can deliver the expertise you need. They can also advise you on the best courses of action.
Given the sensitive nature of their work, these providers will likely employ a variety of security measures to secure your company’s data. Specifically, this is often in compliance with statutory and regulatory standards.
Assurance of Compliance
As mentioned before, a company has both regulatory and statutory requirements. Part of the company secretary’s job is to ensure compliance. Further, corporate service providers are most often well-versed and reliable in this department.
Reasonable Fees and Fee Transparency
One might assume that if all is done on your behalf, the prices must be staggeringly high to afford such conveniences. That is not necessarily so, and in fact, many are reasonably and competitively priced.
Accredited and Recognised
Depending on your corporate service provider, many are, at the very least properly qualified and competent. Some are award-winning and internationally recognised even. You may inquire more about their achievements which they are usually very transparent about.
Which Firm Though?
Prefer a readily trained team of experts under a well accredited and internationally recognised corporate service provider? 3E Accounting can fulfil all the abovementioned and be your go-to and one-stop company secretary services provider. Our firm offers a variety of quality services and credible company secretaries at reasonable rates. Consult us here to learn more.