So you’ve set up a limited company and assembled a team of directors and shareholders to manage the day-to-day running of your business, but do you have someone to manage your company’s financial and legal standards?

If not, a company secretary might be able to help. Although not a compulsory position for private sector companies, some owners employ secretaries to take on some of the director’s responsibilities.

So what are the key duties of a company secretary and can they help you with your business?

What is the role?

A company secretary acts as a point of contact between the directors and shareholders in reporting company procedures and ongoing developments.

This may involve strategic decision-making and, most of the time, the company secretary reports to the company chairman.

Duties

Depending on the size of the company and sector it operates in, a company secretary’s duties include:

  • organising board meetings and preparing agendas
  • overseeing policies and systems and ensuring it all complies with legal and statutory requirements
  • collating information and writing reports to communicate key decisions to the business
  • maintaining statutory books, including registers of members, directors and secretaries
  • sharing input in meetings and advising members on legal, governance and tax implications of proposed policies
  • monitor legislation changes and taking appropriate action
  • liaising with regulators and advisers.

Do you need a company secretary?

The question will come down to whether or not you need a company secretary for your company.

The work of a company secretary can change depending on your type of business.

For example, some duties are specialised in a public sector company compared with a private sector company, such as monitoring changes in share ownership and company takeovers.

If you’re running a smaller business and are choosing to appoint a company secretary, some of the duties may include:

  • monitoring the company’s pension scheme
  • sorting contractual agreements with suppliers and customers
  • managing office space and property for the business
  • controlling public relations and aspects of financial management.

Talk to us

If you’re undecided on appointing a company secretary or would like more information of the roles and duties involved, get in touch with us today.

Stapletons logo

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!