Company Secretarial Service and Corporate Governance

Company secretaries are the gate keepers of the company. This is because they ensure that all the hard work that has gone into the making of the company’s annual report, annual budget and annual financial report is carried out in an orderly manner. They make sure that the necessary documentation is filed appropriately so that it can be reviewed at a later date. They are also responsible for answering any queries from the public and/or any of the senior staff members about certain matters. For example, they would have to be present at the annual general meeting and answer any questions that are being asked about the company by the general members of the public.

The company secretary service also ensures that all the statutory duties are carried out in good time. For instance, a statutory audit must be performed within a specific period of time. The statutory audit is usually performed annually but in some cases may be on an interim basis. The statutory audit will involve the review of the books and balance sheets, the preparation and submission of the statutory audit report, and compliance checks. These are the general duties performed by the company secretary.

However, there are many other duties that a company secretary service performs beyond these general duties. One of these is performing compliance checks. Compliance checks involve ensuring that various statutory duties are being performed in a compliant manner. These could include preparing and filing annual reports, monitoring compliance with the various regulatory bodies, complying with anti-fraudulent and ethical obligations, and following compliance obligations with the various taxation authorities. A company secretary service would be responsible for ensuring that these obligations are being complied with and that the company is not contravening any of the applicable legislation.

Apart from the aforementioned duties, the company secretary service is also required to ensure that the annual Register of Corporate Affairs is being complied with. The Register of Corporate Affairs is a document that contains all the information about the company that is required to be filed by every entity that wishes to become listed on the Register. The company secretary will be required to ensure that all the details that are required by the Register of Corporate Affairs have been submitted and that the annual reports are being prepared accordingly. This is an important task as failure to comply with the requirements of the Register of Corporate Affairs can result in heavy penalties being imposed on the company. The company secretary will be the one responsible for making sure that all the details submitted by the other members of the corporation’s board and its shareholders are in accordance with the provisions of the Companies Act.

Another duty that is assigned to the company secretary service is making the annual confirmation statement. This duty is not only vital but it is also a mandatory requirement. The annual confirmation statement is a document that is provided to the Secretary to confirm that the company has complied with all the necessary tax matters and other requirements and that all the necessary documents had been submitted and processed.

A further duty that the company secretarial services perform is the preparation of the minutes of meetings that occur within the organisation. This includes the procedures that are to be followed when it comes to the incorporation of the company and the allotment of shares by the shareholders. The minutes of such meetings are also to be submitted to the Secretary. Failure to comply with these formalities can result in severe penalties being imposed on the company by the Australia tax office. The Secretary is also responsible for ensuring that all the formalities and procedures that are required to be followed by a company are properly followed and any non compliance can lead to heavy penalties being imposed.

The company secretary service is also required to ensure that all the paperwork relating to the accounts and the annual filings of the company are filed for submission to the appropriate authorities. This includes the submission of the prescribed form(s) to the Australian Securities and Companies Commission for the lodging of the annual return and the statutory declarations. Failure to comply with the filing requirements can result in the company being subjected to penalty notices and other sanctions.

The company secretary service plays a significant role in the implementation of corporate governance in the Australian business environment. The service has to ensure that all the necessary paperwork has been generated, filed appropriately and that the minutes of all the meetings have been submitted for review. The company secretary ensures that all the necessary corporate governance requirements have been met by the company and reports to the company directors. The company secretary ensures that all the corporate requirements which have been imposed by the legislation are being met by the company secretarial services.