Gearbulk Integrated Report 2023 - Report - Page 30
GEARBULK
SUMMARISED GOVERNANCE REPORT
OVERVIEW
OF OUR GOVERNANCE
MANAGING CONFLICTS OF INTEREST
Managing con昀氀icts of interest within the Board of Directors
(BOD) entails transparent disclosure of such matters, particularly concerning transactions between the Company and its
shareholders, such as 昀椀nancing arrangements and vessel
chartering. These potential con昀氀icts are disclosed in the
annual report as Related Party transactions. By ensuring open
communication and disclosure, the BOD upholds integrity and
accountability, mitigating the risks associated with con昀氀icts
of interest and safeguarding the interests of all stakeholders.
COMMUNICATION OF CRITICAL CONCERNS
EXTERNAL ASSURANCE ON REPORTS
E昀昀ective communication of critical concerns to the Board
Gearbulk currently receives external assurance on the 昀椀nan-
of Directors is essential for informed decision-making. This
cial statements of the group. The External Auditor, PwC Swit-
is achieved through special reporting via board memos for
zerland, has been the auditor for the group since 2014 and has
urgent matters, monthly updates providing a comprehensive
provided external assurance on the 2023 昀椀nancial year results.
overview of developments and key indicators, and discussions during board meetings facilitating in-depth delibera-
Gearbulk is actively enhancing our reporting on non-昀椀nan-
tions on critical issues. Regular circulation and discussion of
cial information. Presently, it’s important to note that we do
the company’s Risk Report ensure the BOD stays informed
not receive external assurance for this data. As part of our
about potential threats, enabling proactive risk management
ongoing e昀昀orts, we are enhancing our control environment
strategies. These communication channels equip the BOD to
and data governance. Following these enhancements, our
navigate the business landscape e昀昀ectively.
intention is to pursue limited external assurance for our
non-昀椀nancial information.
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PART 1 – WHO WE ARE
