Company Secretary: Duties and Responsibilities; CSR Activities
The company secretary course is one of the most sought after course among the students of our country. A large number of students enroll in this particular course every year. The Company Secretary is an in-house legal expert who acts as a compliance officer of the company. He/she has to be an expert in corporate laws, corporate governance, securities laws and capital markets.
A company secretary also plays the role of a chief advisor to the board of directors on best practices in corporate governance and helps the organization in managing legal matters. He/she not only acts as a corporate planner and strategic manager but also is responsible for all regulatory compliances of the company. Being a company secretary is a multidisciplinary profession: the roles and responsibilities are also diverse.
Supporting executive of the Board of the company/organization:
A company secretary briefs the board about different aspects and functionalities of the business. The person in this role makes sure that the decisions taken by the Board are agreed and implemented upon from time to time. A company secretary acts as a mediator and a medium of communication between the directors, members and the employees.
Drafting of policies and procedures:
A company secretary is responsible for drafting policies and procedures for the company. The board gets assistance from a company secretary on how to formulate and implement such procedures and policies. He/she communicates such policies to shareholders. A CS executive also helps the company in formulating and implementing strategies.
A company secretary’s role is of legal advisor. He/she advises the company/organization about legal matters. The company secretary course enables the candidate to understand and practice various business laws which businesses are concerned about. Knowing about the various laws ensures that the company does not violate any rule unknowingly. There are many operational and financial rules, procedures and policies that the company has to follow. Non adherence may have an adverse result on the company’s performance and reputation. A company secretary makes sure that everything is done accordingly.
Annual General Meetings:
A company secretary organizes and conducts annual general meetings. He/she is the person responsible to send out communiques regarding an invitation to the AGM to concerned people. The person is also responsible for preparing reports regarding the meeting, preparing and publishing the director’s report and publishing & distributing annual reports.
One of the most important roles of a company secretary is to perform a number of governance tasks along with various administrative responsibilities. He/she advises the chairperson and director on important aspects of the business. The CS executive is also aware about the voting procedures & other requirements to assist in meetings. Majorly, all the events & activities happening in the business, should be informed to the company secretary and he/she should also takes notes of the updates.
The Company secretary course is regulated and developed by The Institute of Company Secretaries of India (ICSI). ICSI is a national professional body constituted under an Act of Parliament. It has headquarters in New Delhi and $ regional councils in New Delhi, Mumbai, Kolkata, Chennai along with 70 chapters spread all over India which includes 1 overseas chapter at Dubai. ICSI conducts examination at 84 centres including one centre in Dubai as well. It rolls over 31,000 qualified members both in Practice and in employment. Currently, over 3.6 lakh students are enrolled in the Company Secretary course. Career as a Company Secretary is not only financially rewarding and prestigious but also carries along with it a high degree of job satisfaction.