Company Secretary Singapore offers corporate secretarial services, corporate secretaries, and quality auditing services. A hands-on approach makes it easy for both the clients we represent to meet their targets within a limited amount of time and us. One of the factors responsible for some of the most prominent losses in business is incorrect financial statements.
As such, our audit firm has a plan guaranteed to provide accurate financial statements for your business as required by accounting standards. We also make sure that these statements are per all the appropriate governing requirements. On the topic of meeting regulatory requirements, Company Secretary Singapore can also play the role of a Named Company Secretary if requested by our clients.
All companies require a secretary to aid with the board and legal procedures. Company Secretary Singapore has a qualified team of company secretaries trained and ready to perform all the tasks needed to take your business to the next level. Not to mention, with corporate secretarial services in place, your company will also run smoothly, and you won’t have to dip further into your resources for assistance with both crucial and trivial tasks.
Here are some of the services our company secretaries will offer to your organization:
- Establishing and maintaining index books or registers and preparing all the material that is needed to ensure compliance with the Security and Futures Ordinance.
- Management your insurance mandates and the repurchasing of shares
- Handling any unique transactions ranging from the exposé of notifiable transactions to issuing bonus warrants and shares, adopting share option schemes, paying cash and or scrip dividends, amending memorandums or articles of association as well as by-laws, and making the necessary changes in the corporate structure just to mention a few.
- Cooperating with regulatory bodies such as the Singapore Exchange Limited (SGX) on disclosure requirements and transactions and preparing public announcements and circulars.
By law, every business must appoint a company secretary within a 6-month period after its incorporation. For better and reliable service, all company secretaries must reside within Singapore and must not be the sole directors of the said company.
All company secretaries in charge of public businesses are required to follow section 171 (1AA) of the Companies Act which demands the following qualifications:
- One must have company secretary experience stretching to a minimum of three years out of the five years required before assuming office as a public company secretary.
- One must be a member of the Association of International Accountants registered under the Singapore branch.
- One must be qualified under the Legal Profession Act (Cap. 161)
- One must be a member of Singapore’s Institute of Company Accountants.
- One must be a member of Singapore’s Institute of Certified Public Accountants.
- One must be a public accountant registered under the Accountants Act (Cap. 2)
- One must be a member of the Singapore Association of the Institute of Chartered Secretaries and Administrators.
Company secretaries can also be held accountable if the organization they represent does not comply with the law as required. A company secretary also have one vital requirement; the recruitment of a business assistant who is required by law to be Singapore’s citizen. Not to mention, if the organization they represent happens to have many representatives, company secretaries can also act as administrators.
A company’s work plays no part in determining the duties and responsibilities of a company secretary. However, they are the officials held accountable regarding the handing in of reports and administrative capabilities as required by law. As such, it is their role to ensure that the company aids its administrators by making sure that they meet their responsibilities. Therefore, a company secretary’s prime objective is ensuring both the administrators and organization play their part both legally and concerning the business.
The Accounting and Corporate Regulatory Authority (ACRA) also includes company secretaries in its description of an officer which means they have to follow all responsibilities handed to an officer. Company Secretary Singapore trains its employees to adhere to mall compliance directives to provide the best service to our clients.
Recruiting a Company Secretary in Singapore
The Accounting and Corporate Regulatory Authority (ACRA) is the national regulator of all enterprise organizations and public accountants. Before their recruitment, all secretaries must be Singapore residents. ACRA further demands that all organizations should have a company secretary after six months of their opening. They should also be the sole company representative unless the organization has several already in place to avoid any confusion.
As far as residing in Singapore is concerned, secretaries are required to have their premises situated in Singapore have the city as their place of birth. They can also be work move owners granted an opportunity to work in a particular organization although they still have to live in Singapore. While s-pass cases do qualify for the company secretary position, they cannot carry out the duties of a company representative.
Corporations Assistant Directors in the Singapore Company’s board are in charge of remuneration and the recruitment of organization assistants. According to the Business Act, Part 171 (IAA), the business secretary of any public organization located in Singapore should not only be skilled but also fulfill the requirements below.
- Should be an associate of the Singapore of Organization Accountants.
- Should be a secretary of the company for a minimum of three years out of five required before appointment as a public organization’s secretary.
- Should be an associate of the Affiliation of Worldwide Accountants registered under the Singapore department.
- Should be an associate of Secretaries of the Organization
- Should be an associate of Public Accountants of Singapore
- Should be a public accountant authorized under the Accountants Work Act (Limit. 2)
- Should be a specialized under the Appropriate Profession Act (Limit. 161)
Essential Functions of a Company Secretary
Business secretary duties can be classified into three categories depending on who they report to; these include:
1. To the Organization
If reporting to the organization, a company secretary supposed to fulfill all the necessary legal responsibilities, ensure that the company is appropriately guarded against misquoted records or transactions, and help the corporate leadership.
2. To Organization Administrators
In this case, a company secretary is required carry out the director’s instructions enabling the latter to hold smooth panel meetings. They are also required to provide any additional assistance that might be necessary and share any appropriate information with the directors.
3. To Organization Investors
Investors play a massive role in the success of any business. Company secretaries are required to constantly stay in touch with all shareholders and guarantee them that their investments are adequately guarded. They should also provide them with all the relevant data to aid in their decision-making in preparation for the Annual Assembly regular share financial claims.
Here are some of their other key functions:
- Keeping up with company documents and registers
- Requesting investor and representative meetings
- Document all the files required legally over time
- Provide additional support
- Provide the panel with extensive legal and administrative assistance
- Help in the execution of corporate resolves by ensuring that the decisions of the board are conveyed and observed
- Ensure that the organization fulfills all its responsibilities
- Keep the organization informed regarding any amendments or developments concerning their legal and regulatory duties
- Keep the investors updated
While the duties above might be classified as key, they do not cover the entire list of a company secretary’s duties. Some of these duties are described in the work contract and should the secretary choose to sign the contract, and they should take the obligations in stride.
Here are some of the primary duties of a company secretary:
- Handing out notices of resignation and changing office address
- Arrange panel meetings and help in decision-making
- Use business work and the company structure to request for general conferences in conventionality
- Ensure that both the board and entire organization adhere to the Memorandum and Articles of Affiliation (MAA)
- Oversee allotments and exchanges and address any issues regarding inquiries or shareholding from stockholders
- Secretaries working with low-government organization administrators are also required to act as a conduit of data and conversion
- Secure custody of the company seal and ensure that it is used appropriately
- Aid the company administrators in the application of corporate governance procedures within the organization and cooperate when called upon
- Ensure that all business characters and established guides are correctly in place as well as the title of the company while bringing out its distinctive organization quantity
- Monitor all offshore responsibilities of the organization using the correct methods and following all the regulations required
- Handle all mergers, restructuring, and amalgamations following the company’s mission
Business assistants are also expected to partake in different tasks per their skills. These can range from human resource to conventional management or administrative duties as well as accounting. ACRA is responsible for dishing out fiduciary responsibilities to secretaries just like its organization administrators and acknowledges business assistants as members of the said company.
Here are some of the fiduciary responsibilities of a company secretary:
- Act by the company’s interests
- Avoid conflicts of interest
- Research before executing responsibilities and implement them with care
- Never use their position for unlawful earnings or the company name for individual transactions
Singapore uses official procedures to vet an assistant or their ability to validate files. Typically, business assistants master license copies of the organization’s promises along with those from administrators, which can be considered passage when looking for quality proof.
Corporate Secretarial Services
Company Secretary Singapore also offers corporate secretarial services and has a reputation for high-quality services. Clients applaud our corporate secretarial services seeing their offer greater proposition value and handle all their outsourcing needs. We provide corporate secretarial services to over 1700 companies in Singapore.
Corporate secretarial services are vital in helping you take some time off work or diverting your attention to other business matters. Our corporate secretarial services also come in handy when your company is new is new in Singapore, and you require some help navigating the markets and dealings in the city. Not to mention, you can also request for corporate secretarial services if you want to reduce your expenditure.
Corporate secretarial services are also vital in ensuring that all the statutory registers for incorporated companies are properly conserved. Using ACRA, corporate secretarial services can also help fill any relevant forms and accounts. We also offer corporate secretarial services that help you organize board and shareholder resolutions or aid in the incorporation of private companies. Our corporate secretarial services also include providing an update or offering some advice to our clients regarding their compliance with the Companies Act.
Other corporate secretarial services in our catalog include the registration of foreign companies as well as the renewal and processing of representative offices. Our corporate secretarial services also include the handing out of employment, department, and permanent residence passes in Singapore. Striking off private limited companies is also part of our corporate secretarial services as well as making arrangements for the nomination of directors.
Our corporate secretarial services also include the registration of facilities and office addresses. Playing the role of company secretary is also part of our corporate secretarial services as well as handling member’s voluntary liquidation. Our corporate secretarial services will also guarantee the accurate handling of administrative requirements.
Our reputation for professionalism also makes our corporate secretarial services reliable and can be employed by any company in Singapore. Hiring corporate secretarial services also ensures that you give comprehensive service to your clients.
As mentioned earlier, apart from corporate secretarial services, we also offer auditing services. As such, we help our clients keep their financial statements in check concerning all statutory requirements and accounting standards. We have a broad client base that helps further demonstrate our expertise in this field ranging from individuals to medicals and dental practices as well as retailers and estates. We also serve manufacturers, wholesalers, construction companies, restaurants, and commercial organizations just to mention a few.
Here are the auditing services we offer our clients:
- Financial audits
- Non-statutory audits
- Statutory audits
- Information systems audit
- Follow-up audits
- Operational audits
- Investigative audits
- Rental audits
- Integrated audits