When a company secretary individual undertakes secretarial Audit he/she needs to wear a different hat. The association between the practicing company secretary who’s going to perform the audit and the company that is going to be audited cannot be said to be in the nature of an employer and employee or master and servant or principal and agent. The connection is on principle to principal basis. Here are some important points to follow along with company secretary
- While adhering to a secretarial audit, a company secretary in practice (PCS) must approach the job in a structured way.
- Another important thing is that the Attention Deficit syndrome as the PCS or assistants are vulnerable to apply insufficient focus on the job available either by chit chatting or simply by attending calls or WhatsApp or other similar things. While on audit, the PCS cannot undermine the audit process by falling to these items that will undermine the quality of the audit. Moreover, it is going to reveal the auditor in a bad light.
The PCS must prepare well for the audit. Before embarking on the audit, lots of house work can be accomplished in order to know about the condition of the client, its directors, its own disclosures, its holding / subsidiary / partner and sister concerns. An informed person would require very less time to strike a conversation or map the audit procedure. Therefore, it is vital to dig out and comprehend information in the public domain in detail and maintain a record and monitor of them. This will aid the PCS to learn about the goals and objectives of the customer and appreciate the critical concerns the client may be facing.
A company secretarial services singapore meant to advise the customer of what needs to be done and in what manner. It is a programme to study what was done and to report on the status of specified things. Consequently, attention has to be on what and how things are done. In eagerness to point out issues, a PCS should not pass on observations during the course of audit then and there. As an example, if the company that is under audit is licensed to run a specific capacity for a specific period by the Pollution Control Board and the PCS finds either the capacity was exceeded or the consent has not been renewed, the deviation or deficiency is a significant and critical one and cannot be taken lightly.