Company Secretary or CS, in the corporate world, are professionals who are in charge and accountable for the smooth management of a company. It is their job to ensure that all statutory and regulatory requirements, in the company, are in order. It is their responsibility to ensure that all resolutions passed by the Board of Directors are executed, timely. To put it simply, the CS is the administrator of a company.
In India, it is essential for all listed companies to have a qualified CS on their payroll. In fact, as per the law, some other specific companies, both non-listed and private, are also required to appoint a CS. In a company, a CS generally holds a senior role, in either the managerial or administrative position. As a matter of fact, in a company hierarchy, a CS position is just below that of CEO/MD and full-time Directors.
What is a CS?
The Company Act 2013, defines a CS as a professional, affiliated to the Institute of Company Secretaries of India (ICSI). In accordance with the Company Secretaries Act, any company that has a paid-up share capital of 5 crores or more must have a CS.
So, who is a Company Secretary?
Any company that operates its business in India, must, by law, follow laid down procedures. These procedures are the same for all companies. The procedures include the following of specific guidelines and requirements and business laws. It is the Company Secretary's job to ensure that the company is in compliance, with these mandatory regulations and laws.
Therefore, a CS must be conversant, with the current laws and regulations that govern companies. To ensure smooth operations, a Company Secretary must have absolute knowledge in the ensuing fields –
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Role of CS
As explained above, the primary responsibility of a CS is to ensure proper administration, expressly on matters related to compliance of statutory and regulatory issues and implementing decisions taken by the board of directors of the company.
The other key duties of a CS include the following –
The duties and responsibilities of CS are manifold and not limited to the above. A CS job is demanding and critical. A good CS must be capable of handling all the administrative affairs of the company. And a strong foundation in the field can help them do the same. CS classes in Cochin offer specialised and professional training to candidates and prepare them to cope with the pressures and demands of the job.
Special characteristics of a CS
Can you become a CS? What are the special characteristics and skills required to be successful in this field?
A Company Secretary's job entails varied aspects that revolve around the many functional facets of a company. The job is one of great responsibility and requires dedication and sincerity. A CS must be multi-faceted, with the ability to efficiently juggle responsibilities.
Keeping the above in mind the key characteristics that define a good CS are –
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A CS automatically becomes a member of the ICSI. Career prospects are not limited to listed companies and corporate houses. One can find employment in banks, other govt-recognised organizations and also in the field of teaching. The profession is constantly evolving, and newer avenues of employment are created. For example, the introduction of GST in India created the need for GST experts, and a CS can act as one.