Generally speaking all organisations are required to employ at least one corporate or company secretary. There are a few necessities for a company secretary. The most important requirement to be a company secretary is to be a member of a ministry approved professional body, which is The Institute of Company Secretary India (ICSI). A tremendous increase in the number of company secretaries led to the formation of The Institute of Company Secretary India in 1969.
A company secretary is a person who corresponds with the public and hence is also termed as the ‘spokesperson” of the company. A CS ensures compliance of all laws, which relate to the working of a company. Hence, learning about corporate laws and the rules related to it are mandatory to formalize business deals. Aside from being responsible to the shareholders and directors of the company, a company secretary also communicates with the outside world on behalf of the caller. Hence, he/she is the “expression of the company”.
A company secretary is recognized as one of the chief officers of the company by various acts. Thus, a company secretary occupies a versatile position in the companies. Companies having a paid up share capital of above Rs. 5 crores or more are mandatorily required to employ a full-time CS. A company secretary’s role starts from the very moment when the idea of formation of a company is conceived. Although the idea of formation of a company secretary may vary from company to company the training acquired by company secretaries make them versatile to perform various functions and roles in Finance, Accounts and Legal Administration
The career course of Company Secretary is not only prestigious but is financially rewarding too. The character of a company secretary is considered a respectable one in the hierarchy and it is one of the most important posts a person handles. This is because; the company secretary is required to act as an intermediary between the company and its Board of Directors and other regulatory authorities. He/she guides the Chairman and the Directors on how to make the best use of their responsibilities under various laws.
The use of the word secretary in the name of this specialization is a bit misleading for one who is new to this concept. A Company Secretary has nothing to do with the regular secretarial work. He/ she is a professional whose role in a corporate set up is that of an advisor for legal matters. A company secretary is one of the most significant members of the company’s management.
A qualified company secretary can find well-paid positions in the private and public sector, banks and financial institutions, stock exchanges, Department of Company Affairs, etc. Globalization has a massive boost to corporate activity and along with it the demand for company secretaries continue to grow. Private consultancy jobs are a very lucrative option.
A company secretary also keeps a track and manages many of the important files and documents. They are responsible for keeping track of the company seal and may also be called upon to sign some of the important legal documents. This post holds a very high value in the company. The company secretary is considered an officer of the corporation. They are expected to behave in a very responsible and ethical manner. He/she can also be held legally responsible, in charge of the criminal act for irresponsible behaviour and a lack of regard for the corporate responsibilities.
Company Secretaries are usually the first person a client meets and therefore, the responsibility of delivering the first impression of the company relies on them. Speaking with correct grammar and keeping a smile on your face is very important. You will be termed as the ‘first impression’ of the company’.
The function of a company secretary in a business enterprise is very essential. This role is indispensable and is perhaps one of the most important roles any individual can play in an organization. The role of a company secretary is a serious one and can be very time-consuming, someone with a lot of patience, suits this role the best.
If you still have any more doubts about selecting a career as a company secretary and about and its syllabus. Do call or visit us anytime! Surf into bangatutorials.com.
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