Imagine a scenario where you’re a business owner in Malaysia. The importance of corporate compliance and governance can hardly be underestimated. However, this set of skills is far from easy to adopt for a business and especially for its owners. Given the increasing number of laws and regulations, the owner, who is the person most concerned with the above issues, has to respond to newly emerging challenges. This is how a company secretary works in the client’s best interest; a reliable escort helping the client comply with the law. Whether you’re an entrepreneur or own a traditional business, being appreciative of the functional contribution of the company secretary is a plus as it improves the processes in any business while promoting the practice of compliance.
Statutory Obligations for the Employment of a Company Secretary
In Malaysia, companies must appoint a secretary. The Companies Act 2016 stipulates that it is mandatory for one individual to be a qualified company secretary in every company. Thus, the secretary should belong to an accredited association or have specific academic qualifications in Law or Business. The appointee, however, must be so much on time. There is also the obligation for companies to report any such nomination to the Companies Commission of Malaysia (SSM) within 14 days. Failure to do so may result in fines being levied and so caution should be taken in selecting your company secretary Malaysia dearest. It is also important that one’s company secretary is familiar with the legislative changes as well as the compliance updates. This is essential as such knowledge will be useful in their work since it will help avert any possible case of non-compliance due to corporate settings.
Ways of Identifying an Appropriate Company Secretary for Your Enterprise
It is important that the right type of company secretary malaysia is engaged for business setups. To begin this process, weigh their certification and practical exposure to a specific field. On a broad scale, in the context of Malaysia, a competent practitioner understands these legal obligations in the corporate sector.
Think about working in other businesses that are similar to their own record. These givens may assist in gauging how the individual adapts to various settings while ensuring compliance and appropriate governance. In addition, one must possess good communication skills. This is because your company secretary will act as a liaison between the different parties of the group. Hence the ability to express themselves clearly and in a professional manner is quite paramount. You should also consider how available or readily accessible they are. It is important that proper attention be paid to audit and meetings among other activities, thus finding an individual who will respect all clients’ requirements is achievable. Let go. Especially with a company secretary Malaysia, making friendships is encouraged, hence hire a person that you are at ease working within corporate compliance in Malaysia and Asia at large.
