SBS Consulting with No Fuss Approach Offers Topnotch Company Secretarial Services in Singapore

January 17, 2015 - The Job portfolio of a Company Secretary has undergone tremendous changes in recent years. First, they used to be a conscience keeper then they moved on to become compliance officer. As of now, they are successfully playing the role of governance professionals. SBS Consulting has a team of experienced and skilled company secretary professionals. With this team, they are all set, to bring in innovative strategies and new operating ways to the Singapore's corporate governance environment.

Companies incorporated in Singapore can formally appoint SBS Consulting as a preferred firm to take over company secretary duties. Upon resuming responsibility of a company, SBS Consulting ensures that the concerned company complies with all the necessary statutory requirements. Additionally, it assumes the duty of implementing efficient strategies for achieving best practice in corporate governance. Along with versatile range of Corporate Secretarial Services in Singapore, the firm specializes in offering responsive support and legitimate advice.

The business head of SBS Consulting, Ms Meena quoted, "SBS Consulting offers corporate secretarial services in Singapore; specialized in compliance matters related to corporate secretary, through a dedicated, experienced and qualified team. Furthermore, the team is responsible for prioritizing great control over statutory requirements of the company".

Ms Meena added, "While offering corporate secretarial services Singapore, although their focus is on assisting Directors and officers of the company, complying with the corporate governance rules and laws of Singapore is their prime concern. The core CS service offered by us is packaged in a bundle. This bundle comprises of the facility to offer registered address for incorporation, maintaining registers and corporate records of the company and monitoring meetings". Apart from that, "managing deadlines for commercial registry filing, in order to avoid penalties and late charges and ensuring annual shareholder meeting are conducted on time, are also some of the duties we offer in this bundled package" said Ms Meena.

"Foreign entrepreneurs need to understand that their business decisions are properly implemented in compliance with the Singaporean laws. At SBS Consulting, our skilled team of professionals, ensure that only the best of company secretarial and governing services will be provided to its clients," said one of her colleagues.

"Company secretarial services offered by SBS Consulting are customizable, pliable, cost-efficient and represent the best standards in the industry. Our services offer peace of mind to the management. By relying on our support and our services, company management can expect whatsoever accurate and up-to-the-minute information at wheresoever they need. Thus, not only they can save on staff costs, but they can utilize their free time to resolve more complex issues in the organization", said Ms Meena's colleague.

With effect from March 2014, it is mandatory for all the companies incorporated in Singapore to file their financial statements in XBRL format. According to ACRA update, Nonexempt Private Limited Companies and Insolvent Exempt Private Limited Companies must file their financial statements in XBRL format.

On the other hand, certain companies like solvent exempt private limited companies, companies limited by guarantee, foreign companies and their branches, do not have to file XBRL statements. In addition, some institutions regulated by the Monetary Authority of Singapore, such as banks, insurance companies, finance companies and companies preparing accounts within their own accounting standards, but, in compliance with the law, need not have to follow ACRA's XBRL Filing norms.

Ms Meena, clarifying her perspective on the behalf of SBS Consulting, commented, "Complying with ACRA's XBRL Filing norms and regulations is not something that can be accomplished by directors or officers of the company. The thing, everyone should understand is the entire XBRL Filing process is highly time-consuming and complex. In no way, handing over this task to the juniors will yield expected results, as it is completely out of their core expertise. Therefore, it will be much more convenient, if organizations allow firms offering Company secretary services to handle such work for them. Rather, outsourcing such work to a professional accounting service provider will increase efficiency of the process as well of the organization in many folds".

Apart from accomplishing all the prescribed duties of company secretary, the SBS team undertakes huge efforts to deliver the best results by completing some tasks, which usually persists unattended by company management. Carrying out a 'corporate health check' is one such duty that you rarely receive from any other firm in Singapore.

Ms Meena mentioned, "By offering, corporate health check or a complete company review of the company records, any potential problem or any compliance issue hidden in the records is brought to the surface immediately. Having performed such checks, it is ensured that the company is following every business and statutory regulatory compliance, finally relieving company management and Directors from their worries".

About SBS Consulting
SBS Consulting Pte Ltd has an extensive experience in offering Corporate secretarial services that comply with not only Singaporean laws, but also complies with the international Company Secretary standards. In addition to that, offering Incorporation, taxation, auditing and accounting services are the specialties of SBS Consulting. If you have any doubts, concerning any of the niches related to doing business in Singapore, you are advised to initiate a brief consultation session with Ms Meena and she will offer the best advice.