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Cause this person is well informed about all transactions in and out and the objectives of the organization.
It happens in some companies
Because the nature of the work of the Chief Financial Officer
* - Owns the information
* - Able to proceed
In addition
Company secretary
Despite the name, the role is not a clerical or secretarial one in the usual sense. The company secretary ensures that an organisation complies with relevant legislation and regulation, and keeps board members informed of their legal responsibilities. Company secretaries are the company's named representative on legal documents, and it is their responsibility to ensure that the company and its directors operate within the law. It is also their responsibility to register and communicate with shareholders, to ensure that dividends are paid and to maintain company records, such as lists of directors and shareholders, and annual accounts
The Secretary is Highest Officiating authority in the company to represent the company who is appointed as per the Statutory requirements. He is in frequent touch with the Managing Director and Board of Directors and is an Authorised signatory for Financial Sanctions and Fund releases which involve huge funds. By being the Chief Financial officer with a dual position he can discharge Financial releases very quickly and with an implied authority, if so stated as part of his pre-defined functions in the resolution at the time of appointment.
because he is a person who is familier to the compny finance and the position of the revenue and all the matters related to that and in touch withe the managment or drictors to the relevent issues.
