The Evolution of Secretarial Services in Today’s Corporate World
If you are running a business in Singapore, you may have heard of the term corporate secretarial services. But what exactly are they and why are they important for your company? In this article, we will explore the meaning, benefits, and evolution of corporate secretarial services in Singapore’s corporate world.
What are corporate secretarial services?
Corporate secretarial services in Singapore are professional services that provide administrative and legal support to companies and their boards of directors. They help companies comply with the statutory and regulatory requirements of the Accounting and Corporate Regulatory Authority (ACRA) and other relevant authorities. They also assist in maintaining good corporate governance practices and ensuring transparent and ethical decision-making.
Some of the common corporate secretarial services include:
- Singapore’s incorporation of companies and registration of business entities
- Maintenance and update of statutory registers and records
- Preparation and filing of annual returns and other documents with ACRA
- Organisation and facilitation of board meetings and shareholders’ meetings
- Drafting and execution of resolutions, minutes, and contracts
- Advising on corporate governance matters and best practices
- Acting as a liaison between the company and its stakeholders, such as shareholders, directors, auditors, and regulators
Why are corporate secretarial services important?
Company secretarial services are important for several reasons. First, they help companies comply with the legal and regulatory obligations that are applicable to their business activities and operations. Failure to comply can result in penalties, fines, or even prosecution. Second, they help companies establish and maintain a sound corporate governance framework that enhances the performance, accountability, and reputation of the company. Third, they help companies communicate effectively and efficiently with their stakeholders, such as shareholders, directors, auditors, and regulators. This can foster trust, confidence, and goodwill among the parties involved.
How have corporate secretarial services evolved over time?
The role of corporate secretaries and company secretarial services has evolved significantly over time. Traditionally, corporate secretaries were seen as administrative assistants who performed clerical and routine tasks for the company and its board of directors. However, in recent years, corporate secretaries have become more strategic and influential in the corporate world. They have taken on more responsibilities and functions that require them to have a deeper understanding of the business, the industry, and the legal and regulatory environment. They have also become more involved in driving business growth and ensuring that the company’s strategy is aligned with its objectives and values.
Some of the factors that have contributed to the evolution of corporate secretarial services include:
- The increasing complexity and diversity of the business environment, which require companies to adapt and innovate constantly
- The growing scrutiny and expectations of the stakeholders, such as shareholders, directors, auditors, and regulators, who demand more transparency and accountability from the company
- The rising importance and awareness of corporate governance, which emphasises the role of the board of directors and the corporate secretary in overseeing the management and direction of the company
- The advancement and availability of technology, which enable corporate secretaries to automate and streamline their processes and tasks, as well as to access and analyse data and information more easily and effectively
The corporate secretarial services offered by Accounting Consultancy?
Accounting Consultancy is a professional accounting firm in Singapore that offers a range of corporate solutions to local and international clients. One of their core services is corporate secretarial services, which include:
- Singapore’s incorporation of private limited companies and registration of business entities
- Provision of qualified staff to act as the company secretary
- Maintenance and update of the company’s statutory registers and minute books
- Reminders on AGM and annual return filing deadlines
- Preparation of AGM documents and filing of annual returns with ACRA
- Update of changes to the company’s officers, shareholders, name, share capital, and other particulars with ACRA
- Routine and non-routine corporate secretarial services, such as drafting and executing resolutions, minutes, contracts, and other documents
Accounting Consultancy has over two decades of industry experience and expertise in providing corporate secretarial services in Singapore. They have a team of highly skilled and trained corporate secretaries who can advise and assist you on your statutory compliance and corporate governance needs. They also have various certifications and accreditations, such as Xero and MYOB professional partner accreditations, which recognise their capacity and quality as a service provider.
Reach out to Accounting Consultancy for all your business needs
If you are looking for reliable and professional corporate secretarial services in Singapore, you can contact Accounting Consultancy today. They will provide you with customised and comprehensive solutions that suit your specific business requirements and goals. They will also help you save your costs and time, and allow you to focus on your core business activities.
To find out more about their company incorporation services and other corporate solutions, you can visit their website. You can also call them at +65 6227 1797 or email them at enquiry@accountingconsultancy.com. They will be happy to answer your queries and provide you with a free consultation.