Gearbulk IntegratedReport 2024 Paperturn - Flipbook - Page 32
GEARBULK
SUMMARISED GOVERNANCE REPORT
OVERVIEW
OF OUR GOVERNANCE
COMMUNICATION OF CRITICAL CONCERNS
EXTERNAL ASSURANCE ON REPORTS
E昀昀ective communication of critical concerns to the Board of
Gearbulk currently receives external assurance on the 昀椀-
Directors (BOD) is essential for informed decision-making.
nancial statements of the group. The External Auditor, PwC
This is achieved through special reporting via board memos
Switzerland, has been the auditor for the group since 2014
for urgent matters, monthly updates providing a compre-
and has provided external assurance on the 2024 昀椀nancial
hensive overview of developments and key indicators, and
year results.
discussions during board meetings facilitating in-depth deliberations on critical issues. Regular circulation and discussion
Gearbulk is actively enhancing our reporting on non-昀椀nan-
of the company’s Risk Report ensure the BOD stays informed
cial information. Presently, it’s important to note that we do
about potential threats, enabling proactive risk management
not receive external assurance for this data. As part of our
strategies. These communication channels equip the BOD to
ongoing e昀昀orts, we are enhancing our control on environ-
navigate the business landscape e昀昀ectively.
mental and data governance. Following these enhancements,
our intention is to pursue limited external assurance for our
non-昀椀nancial information.
MANAGING CONFLICTS OF INTEREST
Managing con昀氀icts of interest within the Board of Directors
DEVELOPING BUSINESS ETHICS CULTURE
(BOD) entails transparent disclosure of such matters, particularly concerning transactions between the Company and its
Gearbulk’ s policies are made available for all its stakehold-
shareholders, such as 昀椀nancing arrangements and vessel
ers and business partners at the company’s website. Addi-
chartering. These potential con昀氀icts are disclosed in the
tionally, these documents are available to all employees on
annual report as Related Party transactions. By ensuring open
the company’s intranet to ensure comprehensive aware-
communication and disclosure, the BOD upholds integrity and
ness and adherence to the ethical practices and standards
accountability, mitigating the risks associated with con昀氀icts
established by Gearbulk’s policies.
of interest and safeguarding the interests of all stakeholders.
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PART 1 – WHO WE ARE
