Introduction
Secretaries are crucial in ensuring the daily operations of a company. Structured and efficient handling of administrative tasks and facilitating communication in the company form the backbone of a strong and successful company. Because incorporated companies are required by law to appoint a secretary, it is important to get a reliable and capable secretary for company operations to run smoothly and comply with local law and regulations, and 3E Accounting is the right place for you to consider such services.
Requirements of a Company Secretary
According to the Companies Act, every company in Singapore is required to appoint a company secretary within 6 months of incorporation. Secretaries should meet the criteria of being a natural person and has his/her principal or only place of residence in Singapore. Secretaries take up multiple roles within the company, mainly administrative, advisory and fiduciary.
Administrative Role
Secretaries handle administrative tasks to ensure that business operations run smoothly. This includes the maintenance of Minutes and Registers Books, submission of Annual Return to ACRA, monitoring the company’s compliance with relevant regulations etc. Carrying out these tasks with precision and completing before deadlines are important to protect the company from unnecessary liabilities by regulatory bodies, hence allowing directors of a company to focus on running the business. Secretaries too aid in facilitating communication throughout the company, across management levels through prompt reporting to the directed parties to ensure cohesion.
Advisory Role
Secretaries should be well-versed with the legal and compliance frameworks of businesses, such as the Company Act and the Income Tax Act, as well as the internal governance of the company. They facilitate the decision-making process by the executives by providing them with key information of the company and ways to formulate strategies while complying with regulations.
Fiduciary Role
Secretaries have the duty to act in the best interests of the company in good faith and avoid or disclose potential conflicts of interests that may arise.
The wide range of important duties that will jeopardize a company’s operations if not carried out properly places much emphasis on the attributes that secretaries should have: meticulousness, dedication and competence. It is crucial for companies to appoint a trustworthy person who embodies such qualities as secretary to manage the secretarial duties effectively so that they can focus on taking the business to greater heights.
Proficient Corporate Secretarial Team at 3E Accounting
Being associate members of the Singapore Association of Chartered Secretaries and Administrators, 3E Accounting’s corporate secretarial team are highly qualified and competent in carrying out professional secretarial duties effectively and in accordance with the respective regulations. They are also dedicated to responding within a day to ensure that tasks are being executed promptly. With the understanding of the importance of a proficient and complete secretarial ecosystem, 3E Accounting takes secretarial services a step further by covering all administrative aspects of businesses, right down to often-overlooked matters such as fax services support, hence being one of the few providers in the market to do so.
In 2020, 3E Accounting completed its digital transformation into a robotics accounting firm. This means that you can count on 3E Accounting’s strong and established IT infrastructure for the provision of secretarial services to our clients. Adoption of Cloud computing allows for systematic, structured storage and retrieval of digital administrative documents, and makes flexible, remote secretarial servicing possible. Robotic automation has expedited various secretarial processes. For example, the incorporation of a company in terms of due diligence and paperwork can be completed in 1 hour instead of the normal 2 days as a result of technology adoption. With the time savings from the smoothened provision of services and delivering of results to clients in the fastest time possible, 3E Accounting’s company secretaries are able to further value-add to clients through other customized services and supporting them. At the same time, cost savings achieved by 3E Accounting through the enhanced efficiency and productivity are being passed on to our clients by keeping secretarial fees the most affordable in the market without compromising service quality.
Conclusion
The active use of technology in the company incorporation process and professional corporate secretarial services has generated many positive reviews online that reflect the efficiency, effectiveness and proficiency of 3E Accounting company secretaries. Placing clients as our utmost priority, 3E Accounting strives to further enhance its business operations and provision of professional services to bring clientele servicing beyond excellence, living up to our reputation of being the best provider of corporate secretarial services in the market.
