Why outsourcing your company secretarial services is a great idea
Effective corporate governance is essential to protect a company’s integrity and ensure it fully and openly complies with relevant laws and regulations. Due to the meticulous and painstaking approach required, maintaining compliance can be time-consuming, putting limited business resources under strain.
If regulations are not observed, or deadlines are missed, a company may be fined, or criminal proceedings may be issued against directors.
At Arnold Hill & Co, our company secretarial services support UK businesses in all aspects of their corporate governance, so directors and managers can concentrate on core business tasks.
So, what benefits will your business experience from outsourcing your company secretarial needs to a Chartered Accountant?
Achieve full compliance
With a huge volume of administrative tasks to complete, the work of a company secretary in a large or assiduous business is never easy. Record keeping must be meticulous to avoid errors being recorded that could undermine your business’s compliance status, so outsourcing to an external professional will improve accuracy and increase the likelihood of meeting compliance fully.
Outsourcing also provides you with access to a range of professional financial and accounting services you may not have direct experience or knowledge of in-house, including governance, compliance health checks, risk management, and company audit compliance. For a lower cost than employing an in-house company secretary with the appropriate qualifications and credentials, you will benefit from a rich pool of accounting expertise from a Chartered Accountant who can manage legal and compliance issues on your behalf.
By partnering with an outsourced provider of company secretarial services, your business will benefit from a bespoke service that is designed to meet the unique needs of your company. The outsourced professional will have an intricate knowledge of the processes involved, so will be able to manage your affairs competently within the stipulated timescales.
You will also only pay for the services that you use on an as-needs basis, saving considerably on the costs of a full-time in-house company secretary.
Reduce your training costs
When appointing a company secretary to manage compliance and governance, it is crucial to ensure that they are professionally trained to avoid errors that could lead to fines or prosecution. Outsourcing your company secretarial functions will reduce your internal training costs, as the responsible professional will already possess the knowledge, and expertise to complete their responsibilities accurately.
Lower operational risk
Outsourcing your company secretarial needs fosters a positive partnership between the outsourced provider and you, the client. The operational risk associated with compliance is, therefore, shared between the two parties, making it easier to achieve positive outcomes with fewer resources.
Contact Arnold Hill & Co to find out more
To find out more about our professional outsourced secretarial services, please get in touch to arrange a free, no-obligation consultation.Unsplash