It does not matter whether you run a consultancy firm or you have an IT business, you need to keep on top of your bookkeeping commitments. From finance to taxation, a company secretary can help you to ensure your business is running as smoothly as possible. With that being said, below, we are going to take a look at the main roles of a company secretary in Malaysia in further detail.
A secretary will make sure your business complies with current legislation - An effective secretary will handle the task of ensuring your business is compliant with regulations and laws when it comes to taxation and other financial matters. From employment laws to business licenses, there is a lot to be considered. A company secretary can make recommendations and get in touch with relevant experts to ensure your business is acting in accordance with the law.
A secretary can prepare for board meetings - Another role that a secretary in Malaysia will play is ensuring that board meetings are well-prepared. They can also offer advice relating to any secretariat matters at the company. The secretary provides an effective link between the business and all of the shareholders. Meetings can be important in terms of keeping the shareholders up-to-date with everything that is going on at the business, and the secretary plays a huge role in this.
A secretary can submit your annual reports - There are a number of different files you are going to need to submit on a yearly basis, including financial statements with a directors’ report and your annual tax return. This can be a big undertaking and requires a lot of organisation throughout the year. Luckily, your secretary will be able to handle this for you, ensuring that everything is submitted on-time so that you do not end up receiving a fine.
A secretary will lodge the FYE / Financial End Of Year - FYE refers to the date whereby a business closes its financial accounts. This tends to be the final day of a specific month that you have chosen. The Financial Year End that has been designed on must be lodged to the SSM within 18 months of your business’ incorporation date. A secretary will be able to handle this important task for you.
A secretary will make sure your business details are accurate and up-to-date - Finally, company details may change from time-to-time, as your company gets bigger. This includes details such as constitution, shares, paid-up capital, shareholders, and directors. A secretary at a company, therefore, will ensure the SSM are notified on any changes, as well as updating any company documents that need to be amended.
To conclude, there is no denying that a secretary plays an important role in any company in Malaysia. If you are looking for a company that can assist you by providing these services, please do not hesitate to get in touch with us today. We are always happy to answer any questions and to help ensure your business runs smoothly with expert secretarial services.