Did you know that our team at Profacc Public Accountants and Financial Planning offers support to company secretaries? We help by by managing, assisting, and supporting clients who are secretaries in their companies and being their agent with ASIC.
So if you are a company secretary, we can help you by offering support with many of your duties.
Why you might need a Company Secretarial Support service
The role of the company secretary or corporate secretary is diverse and complex.
Company secretaries are often concerned with how a business is run as well as the transparent disclosure of information between the management, board, investors, and stakeholders. It includes legal and business advisory support.
For anyone acting as a company secretary, you will have a wide range of important tasks.
Company secretaries are usually in charge of managing meetings with the board/committee/shareholders, overseeing statutory and regulatory reporting requirements, drafting board papers and circular resolutions, managing policy and governance, ensuring company registers and company records maintenance, updating and maintaining minute books and statutory registers, providing corporate governance advice and assistance including charters, policies, and the corporate governance statement, and organising board performance reviews.
There is also a lot to do around ASIC compliance including subsidiary management.
This is where we come in. We can support the role by acting as ASIC agents and assisting the company secretary with their secretarial duties.
Our business address is usually the registered address for their companies as well.
Many businesses find they can reduce risk by ensuring excellence in compliance and processes as there is increasing pressure for companies to be transparent and accountable, so it plays an important role in any business. Failure to do so can lead to your company receiving fines from ASIC.
Does MY business need a company secretary?
Companies in Australia must have a minimum number of directors and secretaries.
Proprietary companies - a proprietary company must have at least one director and that director must live in Australia.
A proprietary company is not required to have a secretary.
Public companies – a public company must have at least three directors and also have at least one secretary who lives in Australia.
So, while not mandatory for all companies, the role of a company secretary can play a significant part for some businesses and under certain circumstances. You can find out more here.
How the Profacc team can help you
Our team at Profacc Public Accountants and Financial Planning offer strategic and high-level support to company secretaries, by managing, assisting, and supporting clients who are secretaries in their companies and being their agent with ASIC. Our business address is usually the registered address for their companies as well.
At Profacc Accountants, our team has a wealth of corporate secretarial and governance knowledge at our fingertips, and we can help your business to reduce costs and enhance your governance.
Find out more about how we can support your role as company secretary by getting in touch with our team here.