How to Become a Company Secretary

How to Become a Company Secretary

How to Become a Company Secretary
Ankita KhadkaFri Jul 29 2022

A company is a legal body created by a group of people to conduct and manage a business enterprise, whether it be commercial or industrial. Depending on the corporate legislation of its jurisdiction, a corporation may be set up in a variety of ways for tax and financial liability reasons.

Secretary is an employee of a corporation who may maintain records of board meetings, stock ownership transactions, and stock transfers as well as assist in managing the firm's legal interests.

Would you like to become a Company sectary and act as one responsible candidate for the growth of the company? Keep reading more.

What is a Company Secretary?

A company secretary is more than just an employee; with his skills and in-depth understanding of corporate laws, he may elevate a corporation to the highest level. He is an expert in both company law and the interpretation of the law. As a result, he can master every law that a company must abide by, including labour laws, tax laws, banking laws, and others.

A company secretary is a crucial part of the company as they play a huge role in the smooth functioning of the organization. they are the ones who provide key support to their CEO, and Executive Directors in organizing and decision-making the task.

What is the role and responsibilities of a Company Secretary?

  • To make sure the Company is in compliance with all relevant legal requirements.
  • To make sure that the Company's affairs are managed in accordance with its memorandum and articles of association.
  • Conducting board meetings, committee meetings, and general meetings, as well as participating in them.
  • To keep the minutes of the aforementioned sessions.
  • To carry out all necessary procedures for the Company's share buybacks, transfers, and transmissions.
  • As required by the Companies Act of 2013, keeping the Companies Record and maintaining the Statutory Registers.
  • To provide legal counsel to the Board of Directors.
  • To speak on behalf of the Company before various regulators and government agencies.
  • To instruct the Directors on their obligations and responsibilities.
  • Serving as a point of contact between the Company and the Stakeholders
  • To carry out any tasks that the Board assigns.
  • To carry out all actions that may be required by the numerous laws that apply to the company.

How to Become a Company Secretary? Qualifications

The board of directors' work is organized in large part by the company secretary. Along with monitoring communication with management and precisely focusing communications to shareholders, tasks like maintaining board evaluations and keeping minutes at board meetings are combined. A company secretary needs to be able to multitask and have highly developed communication skills.

Understanding of corporate law:

The Secretary must be familiar with the specifics of the Companies Act's provisions and their effects. He must be familiar with meeting procedures.

Understanding of Mercantile Law

Most businesses operate as merchants and must abide by several provisions of merchant law, such as the Contract Act, Sale of Goods Act, Negotiable Instruments Act, MRTP Act, Insurance Act, etc.

Understanding of Economics:

The Secretary should have a solid understanding of economics—both theoretical and applied—as well as the general money market, capital market, and financial institutions to manage the company's financial issues.

Regarding the office and staff:

The Secretary is the company's executive leadership and oversees ensuring that business operations run smoothly. He oversees every office administrative task on a broad scale. Specifically within his direct responsibility are legal and financial issues. 

The Secretary is the driving force behind the entire corporate machine. The Secretary must ensure that all departments are appropriately managed, monitored, and coordinated. Planning abilities

Planning abilities

A smart company secretary must always have a game plan in place and be one step ahead of the situation. Due to the cyclical nature of board and committee meetings and the necessity of meeting deadlines for both internal and external compliance, this is crucial. 

The UK Company Secretary explains, "This implies you have to be adept at project management because there are always multiple ongoing projects that will require your attention at the same time

Command of the detail

 A focus on detail calls for "command of the detail." A company secretary is responsible for making sure that the board's work, in particular, is carried out accurately and without errors or omissions. 

For instance, the Company Secretary serves as your company's initial point of contact with the shareholders. Deloitte notes in a recent report that all areas related to shareholdings must be managed effortlessly, including the distribution of announcements, correspondence regarding dividends, registration of share ownership, transfers, and other areas relevant to shareholdings. 

Other Skills

  • Strong administrative abilities and  IT  software ability
  • Commercial sensitivity
  • A meticulous eye for detail Interpersonal abilities
  • Influencing techniques
  • Excellent time management and organization
  • The capacity to act independently
  • Discretion and diplomacy 
  • A flexible and realistic approach to employment.
  • Time management 
  • Interpersonal skills

Steps to Becoming a Successful Company Secretary.

Academic Requirements

  • Understanding of tax law, accounting, auditing, and financial analysis, among other things.
  • Program for Foundations (10+2/Entry level pass or equivalent)
  • Corporate Program (Graduation)
  • undergraduate degree
  • Program for Professionals (Executive Programmer)
  • Fundamental Program 
  • School leaver or degree-level qualifications
  • Undergraduate degree,
  • Subjects related to law, finance and business
  • 10-Month Professional Program

Acquire more knowledge after high school.

Either a high school graduate or someone with a degree can work as a company secretary. A bachelor's degree is frequently required for entry-level company secretary positions, also known as assistant or trainee roles, but some are open to high school graduates. When a degree is required, coursework in law, finance, and business are recommended but not usually required.

Experience (work and related fields)

For this position, you'll need to have a large amount of professional experience, and employers will typically ask for a professional degree. The most typical path involves gaining several years of administrative job experience before starting formal training in business secretarial work. The following fields of employment are examples of relevant experience: Administration of finances, credit control, insurance, office management, pensions, and personnel purchasing.

Some graduates choose to become certified as accountants or lawyers with the intention of eventually becoming company secretaries, while others may think about enrolling in a full-time diploma program that leads to a full or partial ICSA accreditation. Learn more about the various career opportunities and internships that are offered.

Training (job or related fields)

After completing their 10+2 Entry level (Arts, Science, and/or Commerce) coursework, candidates should enrol in the Foundation Programmer. However, those applying for CS courses after graduation (all streams except fine arts) can enter the Executive Programmer immediately and continue with the Professional Programmer once they have finished their CS coursework and passed the exam. 

Program for Induction of Students (SIP) Executive Development Program, which requires computer training (EDP) Program for Professional Development (PDP Management, or Professional Training, Practical Training, Specialized Agency Training, Management Skills Orientation Program) (MSOP)

Career

Directors are given administrative help and direction by company secretaries. Cs's career is one that has a lot of promise. They can get employment in both government and non-government sectors.

Company secretaries work in a variety of organizations in all industries, including private businesses, and governmental and not-for-profit organizations.

Making a career as a corporate secretary is quite rewarding because companies strive to maintain their status as among the world's top economic and industrial firms.

Employment areas

  • The local/national government
  • Housing associations
  • Financial institutions
  • Private offices
  • Law firms
  • Non-profit organizations.
  • Stock market
  • public companies
  • stock exchange

Job titles

  • Company registrar
  • Legal advisor 
  • Chief administrative officer
  • Corporate planner
  • Principal Secretary
  • Corporate policy maker
  • Member of the board of director

Salary of a Company Secretary

Let us see the average annual salary of a Company Secretary in some popular countries.

Country

Annual Average Salary of Company Secretary

Australia

$218,359 (AUD)/yr

Argentina

$ 3.415.502 (ARS)/yr

Belgium

123.835 € (EUR)/yr

Brazil

R$258.790 (BRL)/yr

Canada

$191,201 (CAD)/yr

China

¥514,491 (CNY)/yr

Costa Rica

₡35 625 314 (CRC)/yr

Denmark

1.005.871 kr. (DKK)/yr

Egypt

359,721 ج.م.‏ (EGP)/yr

Finland

122 210 € (EUR)/yr

France

109 963 € (EUR)/yr

Germany

131.713 € (EUR)/yr

Hong Kong SAR

HK$1,080,424 (HKD)/yr

India

₹20,51,677 (INR)/yr

Italy

99.395 € (EUR)/yr

Japan

¥15,905,227 (JPY)/yr

Malaysia

RM221,185 (MYR)/yr

Mexico

$813,297 (MXN)/yr

Netherlands

€ 118.734 (EUR)/yr

New Zealand

$202,838 (NZD)/yr

Poland

248 373 zł (PLN)/yr

Portugal

74 504 € (EUR)/yr

Russian Federation

2 396 233 ₽ (RUB)/yr

Switzerland

CHF 183'695 (CHF)/yr

Spain

92.915 € (EUR)/yr

Thailand

฿1,522,241 (THB)/yr

UK

£96,594 (GBP)/yr

Ukraine

976 238 ₴ (UAH)/yr

United Arab Emirates

477,779 د.إ.‏ (AED)/yr

United States

$183,110 (USD)/yr

Vietnam

839.869.256 ₫ (VND)/yr

Training course for Company Secretary

Let us talk about some degrees to become a successful Company Secretary.

Level

Program

   

    Bcom 

 (with /

Without

mathematics)

BCom (Honours)

BCom Accounting and Taxation

BCom Statistics

BCom in Management Accounting & International Finance

BCom in Accounting

BCom Applied Economics

BCom Banking & Finance

 

BCom (General)

BCom Business Administration

BCom Marketing

BCom Tourism & Travel Management

   


   Bachelors

Bachelor of Accountancy.

Bachelor of Business.

Bachelor of Business Administration.

Bachelor of Business Science.

Bachelor of Economics.

Business school.

 

Popular courses

BCom

BCA (IT and Software)

BBA LLB

Chartered Accountancy (CA)

BBA/BMS

Company Secretary (CS)

   



      Masters

Master of business commerce [m.com] (computer applications)

Master of business  commerce [m.com] (accountancy)

Master of business  commerce [m.com] (accounting and finance)

Master of business commerce [m.com] (marketing)

Master of business  commerce [m.com] (banking and finance)

Master of business  commerce [m.com] (business management)

Master of business  commerce  [m.com] (financial management)

 

Pros and Cons of Becoming a Company Secretary

The secretary's role is not just to just enter data into the system and let it handle everything else. Although the role may shift slightly, the position of secretary will still be required. Every profession has benefits and drawbacks, but despite these challenges, job seekers must expand their skill sets in order to succeed. The need for secretaries will always exist, even as technology advances.

Advantages of becoming a Company Secretary.

  • Business Profile
  • Zero Stress
  • No Upper Age Limit
  • Increasing Job Satisfaction
  • Flexible Hours
  • Relationship with Superior Authorities
  • There is a lot of responsibility
  • More than just paperwork 
  • More effective communications with higher authorities
  •  High-paying job
  • Opportunities for travel in the form of work excursions
  • Surrounded by and working with smart people
  • Capable of working both alone and in teams
  • Possess the freedom to conduct yourself anyway you like.

Disadvantages of becoming Company Secretary.

  • Extended workweek
  • No time for friends and family
  • Excessive travel
  • High levels of anxiety
  • Tedious tasks
  • It's your fault if something happens
  • You will always be subservient by default.
  • The pay scale falls short of expectations
  • Only applies to women
  • Picture of the position
  • No career advancement
  • Numerous documents
  • Due to technology's encroachment, there is no need.

How to Become Company Secretary. FAQs

When should a person choose to become a CS (Company Secretary)?

CS may be a better career choice for someone who takes a more theoretical approach to things. Furthermore, CS is required for anyone interested in law because it covers fundamental topics including corporate law, SEBI law, IBC legislation, and other laws.

What is the time commitment to become a CS?

In the best-case scenario, when a student is successful in passing all of the tests in one sitting, it will take them about three years to earn a CS degree. He or she can opt to apply for CSEET right after passing the 10+2 exam. After one year, he or she can choose to apply for CS Executive, and after passing Executive, throughout the course of the 21-month training period, he or she can pass the CS Professional Exams. 

Which tests must be passed in order to become a CS?

To become a CS, you need to pass three levels. Must take CSEET Level, a computer-based admission test with open-ended questions. Must attend Second Level Exams for the Executive Program which consist of two modules with four papers each. Additionally, the Third and final level of exams for the professional program consists of three modules with three papers each. 

What is the minimum age to enrol in the CS program?

According to ICSI's requirements for eligibility, applicants must be older than 17 when taking the CS Executive exam. However, there is no upper age limit for CS program applications. It should be mentioned that a person must be 21 years old in order to qualify for Associate Membership in the Institute. In other words, even if a person is under 21 years old, they cannot take the examinations 

 What nation is ideal for a company secretary?

Australia is one of the world's most stunning nations. There is a course similar to ICSI that is offered in Australia, where you can complete it to become a Chartered Secretary Australia member and afterwards obtain the position of your choice.  

Is there scope for CS in the future?

CS experts have a promising future. One of the most prestigious and effective work profiles is this one. After passing the course, candidates have the chance to work in the stock market, corporate affairs division, legal board, and various government offices.

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