Keeping abreast of regulatory trends, along with customer and investor demands is critical for corporate secretaries. They work closely with their organizations’ boards and executives on issues that impact both companies’ sustainability and performance in the marketplace.
A Corporate Secretary can serve as an expert in establishing and maintaining sound, robust corporate governance practices for both private and public corporations. They can also help a company defend against legal claims of “piercing the corporate veil” and shareholder lawsuits that claim breach of fiduciary duty.
In a strategic and senior corporate office role, the Corporate Secretary plays a key role in governance as an officer who provides advice and counsel on board responsibilities and logistics, record minutes and other documentation that meets legal requirements and facilitates a company’s board meetings, committee discussions and related decisions.
The Corporate Secretary is responsible for design, implementation and maintenance of a sustainable corporate governance framework that includes the Board of Directors and Board Committees, such as the Audit Committee, Finance Committee, Compensation Committee and Risk Management Committee.
They also work closely with a corporation’s executive management team on the development of annual reports, financial press releases and other communications to stakeholders and the production and distribution of documents that provide information on the corporate governance aspects of a company’s operations.
When it comes to ensuring a corporation’s compliance with legal https://www.cfoacc.com.sg/services/corporate-secretarial-services regulations, the Corporate Secretary often works with the CEO, CFO, Controller and other members of the executive management team. In addition, the Corporate Secretary is often involved with the preparation and distribution of securities filings with the Securities and Exchange Commission (SEC).
A Corporate Secretary also serves as a Board of Director advisor, conducts corporate governance audits and administers board evaluations, helps resolve succession planning issues and designs and implements director education, training and orientation programs.
The Corporate Secretary plays a pivotal role in facilitating the development of the company’s business plan and its implementation. They also work with the company’s external auditors and securities counsel on the preparation of annual reports and financial press releases.
As a trusted advisor and confidante, the Corporate Secretary is often an integral member of the company’s senior management team. They are the point person for liaising with shareholders, bankers and other outside stakeholders and providing guidance on issues such as obtaining a certificate of good standing or a business license from a state or local agency.
They are also typically a key contributor to company share transactions, coordinating the issue and transfer of shares of stock and dividends and liaising with tax advisors, accountants and other outside parties on those matters.
A Corporate Secretary can also assist the Board with preparing its governance programs to comply with the evolving regulatory landscape. They can work with the Chief Executive Officer and other officers to review and develop a board’s governance program, which can include updating the company’s Bylaws or Articles of Incorporation, creating and approving director skill matrixes and developing a resolution approval process.