Initial Business Consultancy Sdn Bhd - Company Secretary

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REMINDER !!!

Dear clients, kindly confirm with us whether your company status is Up To Date with the Annual Return and Audit submission with the SSM. Stay Compliant, Stay Secure!

Salam Ramadhan Al-Mubarak to all Muslims.🤲

We Are Hiring a Managing Director position📢📢

For Further information please contact the number at the poster or email directly to:
[email protected]

What is an Audit Report?
An audit report is a written opinion of an auditor regarding an entity's financial statements. The report is written in a standard format, as mandated by generally accepted auditing standards (GAAS). GAAS requires or allows certain variations in the report, depending upon the circumstances of the audit work in which the auditor engages. The different types of audit reports are noted below.
Clean Opinion
A clean opinion is issued if the financial statements are a fair representation of an entity's financial position, being free of material misstatements. This is also known as an unqualified opinion. It is the gold standard that outside users of an organization’s financial statements are looking for.
Qualified Opinion
A qualified opinion is issued if there were any scope limitations that were imposed upon the auditor's work. The opinion looks similar to the wording used for a clean opinion, except that additional text summarizes the reason for the qualified opinion.
Adverse Opinion
An adverse opinion is issued if the financial statements were materially misstated. This misstatement may be due to an error, but it can also indicate that management engaged in reporting fraud.
Disclaimer of Opinion
A disclaimer of opinion can be triggered by several situations. For example, the auditor may not be independent, or there is a going concern issue with the auditee, or certain financial records needed by the auditor were not available.
Contents of an Audit Report
The typical audit report contains three paragraphs, which cover the following topics:
1. The responsibilities of the auditor and the management of the entity.
2. The scope of the audit.
3. The auditor's opinion of the entity's financial statements.
Users of an Audit Report
An audit report is issued to the user of an entity's financial statements. The user may rely upon the report as evidence that a knowledgeable third party has investigated and rendered an opinion on the financial statements. An audit report that contains a clean opinion is required by many lenders before they will loan funds to a business. It is also necessary for a publicly-held entity to attach the relevant audit report to its financial statements before filing them with the Securities and Exchange Commission.

Source:
accountingtools

Annual return is a summary of a company profile consist of general information about a company, that includes the directors, shareholders & business address, such as following:
 Business office address
 Branch office address
 Registered office address
 Principal business activities
 Total paid-up capital
 Capital other than Cash
 Company directors
 Company secretary
 Shareholders
And any information related to the company that SSM needs to know (Refer to your company secretary to know more)
When do we need to lodge Annual Return to SSM?
The annual return signed by a director or by the manager or secretary of the company shall be lodged with the Suruhanjaya Syarikat Malaysia(SSM) within one month from the date its AGM held.
How I should update my company annual return?
Contact your company secretary and prepare all the requested documents and information to be filed and submit to SSM before the deadline to avoid any legal actions or compounds that may be taken by SSM to your company

Be thankful, Be grateful ....... Alhmdulilah and have a great morning 🥰

Be energetic Be optimized....
Good morning 😊

Good Morning to all successful to be

May Allah ease your day😊

The roles and responsibilities of a Company Secretary in Malaysia are outlined in the Secretary Association, which is governed and regulated by the Company Commission of Malaysia.
Here are the responsibilities of the Company Secretary at one glance:
1. An Officer of the company and advisor to the Board
• He or she is familiar with the provisions of the Memorandum and Articles of Association of the company.
• He or she is well versed in the compliance of numerous statutory and regulatory bodies.
• He or she is responsible to ensure correct procedures are followed and remains compliant with the Company’s Memorandum and Articles of Association (M&A) and the Companies Act.
2. Compliance with Statutory Requirements and Advisory
• The Company Secretary has the responsibility to ensure the company is compliant with legislation as in Companies Act.
• He or she acts as the official liaison party for the company to communicate, prepare, and submit Statutory Returns with the Suruhanjaya Syarikat Malaysia (SSM).
• He or she must ensure that any alteration in the company’s statutory information will be lodged with the registrar of Companies together with the duly completed [relevant prescribed] documents in a timely manner.
• The Company Secretary should advise the board of directors of the relevant dates for holding the company’s annual general meeting.
3. Preparation of Board Meetings
• The Company Secretary is required to attend any of the board meetings and provide general advice on matters relating to company secretarial matters when required.
• The Company Secretary is a link between shareholders and the company. In other words, he or she will send out notices (circular resolutions) and liaise with shareholders regarding any shareholder meetings and the Annual General Meeting (AGM) or Extraordinary General Meeting (EGM).
4. Filing annual returns
A Company Secretary is also responsible for the completion and timely submission of the company’s annual return and full accounts by the statutory deadline.
5. Custody of the company seal
He or she is responsible to ensure the safe custody of company seal.
6. Primary point of contact
The Company Secretary is the primary point of contact for institutional and other shareholders, especially with regard to matters of Corporate Governance.
In addition to all the responsibilities, the Company Secretary is also a key member of the company in the implementation of corporate acquisitions, disposals and mergers, while protecting the company’s interests by ensuring the effectiveness of all documentation, ensuring due diligence disclosures, enabling proper commercial evaluation prior to completion of a transaction; ensuring timely ex*****on of documentation etc.
On a final note, it is a mandatory legal requirement for every company to appoint at least one Company Secretary in their company.

Source: 3ecpa

Friday has passed and Friday has come Oh Allah, forgive us what is between them and ease what pleases you.

Some employers have people who work for them, either as servants, drivers, employees, or other professions, and some of those workers stay for months or years without getting their financial benefits like their salaries that were not paid to them, and they may deceive the workers, or threaten them to return him to his country if he complains to the competent authorities. Or other tricks, all of this is illegal to be eaten by its owner. On other hand, Allah blesses those who pay their wages and replaces them with something better than what they spent.

Be careful one someone offer you a company secretary services without showing you any proof

or trying to sell you an exist company with it documents
try to check everything through a trusted sources about the history of the company and the real owner/ directors and so on

Good Morning May Allah bless and ease our day ☺️🥰

Company Secretary is a term has a different meaning of what is known as office secretary who usually will be the admin who arrange the office and organize the job. According to the section 139A of Companies Act of 1965 defines a company secretary as:
A person who shares the legal responsibilities along with the director or group of directors. It’s an essential administrative role; therefore, the companies operating in Malaysia are required to appoint a company or corporate secretary to manage the legal side of the company.
If you are interested in forming a company in Malaysia, make sure to learn about the hiring process and qualifications of such a role. If you need help in registering a new business in Malaysia and don’t know how to register a company in Malaysia, you can contact us to get better on how to register a company in Malaysia and all what is required to maintain your company and all the responsibility on how avoid any legal issues that might face the directors or the company itself.

What is Company Secretary Malaysia?

Talking about the secretary of a Malaysian company, this particular role holds a key position in creating as well as operating a company in Malaysia. According to the Companies Act 1965 (section 139A of), it’s obligatory for a company to hire a qualified company secretary.
Such a person should be a member of a professional body, which is nominated by the “Ministry of Domestic Trade, Cooperative and Consumerism”.
The prescribed Body mentioned above includes a variety of legitimate and legal bodies created to regulate the hiring and working of a company secretary.
These include:
•The Malaysian Association of Company Secretaries (MACS)
•The Malaysian Institute of Chartered Secretaries and Administrators (MAICSA)
•The Malaysian Institute of Certified Public Accountants (MICPA)
•The Malaysian Bar
•The Malaysian Institute of Accountants (MIA)

Appointing a Company Secretary

A company or corporate secretary has to perform a variety of responsibilities. Therefore, a secretary is a job role of key importance. Hence, appointing a person for this job is a pivotal decision.
The board of resolution appoints a corporate company secretary. However, before the selection and appointment, the members of the board should acknowledge and endorse the terms and conditions of such an election.
The secretary of a firm requires providing written consent. Once the appropriate person for the post is appointed, the information regarding such an election should be submitted to the directors and senior managers.
The information regarding the appointment of a company secretary Malaysia must reach the relevant department of the company within 30 days. When choosing a secretary, the candidate must be informed of his/her roles and obligations within the company.
Can a Director be a Company Secretary in Malaysia?
Yes, it is possible for a director to be a company secretary. Nevertheless, the Companies Act 2016 doesn’t allow the dual acts of a person.
Meaning thereby, there are numerous documents, which need the signature or endorsement of two different people. In this situation, a sole director can’t sign on behalf of a secretary.
Usually, a company secretary Malaysia is appointed to minimize the workload of a director. Hence, a director working as a secretary can’t justify the essential responsibilities associated with both these roles.
What are the Roles and Responsibilities of a Company Secretary?
A company operating in Malaysia employs the company secretary (Co-Sec). Such a role involves a variety of responsibilities.
Some of these roles include:
•A company secretary needs to comply with advisory and statutory requirements
•Attend meetings and prepare resolutions of both board and members
•Keep the company’s statutory books and records in an up-to-date condition
•Maintaining regular communication with the shareholders

1. Compliance with statutory requirements and advisory
The corporate secretary must ensure that all the operations of a company are within the ambit of the Companies Act 1965. He/she should update the SSM with any change in the statutory information of the company.
For this purpose, the secretary must submit the completely filled forms that are prescribed by the law. These forms should reach the company’s registrar within a given period. Moreover, the secretary must advise the director/s regarding annual meeting of the company.
2. Attend meetings and prepare resolutions of both the board and members
The secretary must take part in almost every board meeting. Furthermore, corporate secretarial services Malaysia also include advising the director/s on secretarial matters.
In addition, the secretary is also required to send notices and circulars and stay in contact with shareholders when taking care of the company’s matters.
One of the most essential company secretarial services is the filing of annual returns. This task needs to be completed within a given deadline.
Some of the most prominent responsibilities of a company secretary associated with board meetings are listed below:
• Booking a meeting room and making some other preparations
• Liaising with the managing director or chairman regarding agenda papers
• Take down the minutes of the meeting and enter them into minute books
• Clearly inform the company executives regarding the decisions made in a board meeting
• To make sure that the meeting is carried out in accordance with a prescribed method
3. Keep the company’s statutory books and records in an up-to-date condition
If any change happens within the structure of a company, the secretary is responsible for updating the statutory registers of such a company. For instance, the secretary is bound to maintain the Register of Members and Register of Directors.
Such a person is also responsible for keeping the important company documents at a safe and secure place. These documents include “Certificate of Incorporation”, “Share Certificates”, “Memorandum and Article of Associations” and “Minutes of the meeting”.
4. Maintaining regular communication with the shareholders
The corporate secretary must maintain consistent communication with the director/s. The secretary also issues notifications and documents associated with the monitoring of a company’s operations.
The company secretary serves as a bridge between the company and shareholder/s. Therefore, all the key announcements should be communicated to the executives via secretary.

Every employer responsible to his employees and to order from them on what Allah has ordered them to do in their work, such as performing prayer in congregation, fulfilling the trust in their job, leaving what Allah SWT has forbidden them such as cheating and treachery, harming and oppressing the clients, and other things.

We are looking for internship students to join our Team (Accounting & Taxation)

Requirements:
- Candidate must currently study a Diploma / Bachelor’s Degree in Accounting / Secretarial Studies / Business Administration / ICSA or equivalent academic background.
- 6 months of internship program.
- Discretion and understanding of confidentiality issues.
- Self-motivated, pro-active and strong communication skills.
- Good team player and possess good working attitude.

Responsibilities:
- Prepare documents for accounting transactions of clients.
- Key in all transaction of the clients in accounting system.
- Prepare full set of accounts statements for clients.

Additional Benefits:
- Practical Experience
- Company Secretary Training Provided
- Allowance Provided
For More information contact us in the WhatsApp button provided or call us at 03-4131 5288 / Email: [email protected]

And Hajj (Pilgrimage to Makkah) to the house (Ka’bah) is a duty that mankind owes to Allah,, Those who can afford expenses (for one’s conveyance, provision and residence.) [Quran 3:37]