Ittehad Chemicals Limited | Corporate Governance
16693
page-template,page-template-full_width,page-template-full_width-php,page,page-id-16693,page-child,parent-pageid-16691,ajax_fade,page_not_loaded,,qode-title-hidden,columns-3,qode-product-single-tabs-on-bottom,qode-child-theme-ver-,qode-theme-ver-10.1.1,wpb-js-composer js-comp-ver-5.0.1,vc_responsive

Corporate Governance

Board of Directors of the company has always strived to adopt best practices towards managing the company and providing policy guidelines. The promulgation of Code of Corporate Governance through amendments in the Listing Regulations of Stock Exchanges has further defined the responsibilities of directors in this regard. Corporate Governance strengthens investors’ trust and ensures a long-term partnership that helps in fulfilling the quest for achieving significant value addition, growth, and profits. The company has made significant progress towards implementation of principles contained in the Code and status of compliance is set out in the compliance statement. The Board of Directors has taken adequate measures for the implementation of the regulations of the Code of Corporate Governance issued by the Securities & Exchange Commission of Pakistan.

 

We have summarized below our statement on corporate and financial reporting framework…

 

The financial statements prepared by the management of the company presents fairly its state of affairs, the result of its operations, cash flows, and changes in equity.
Proper Books of Account of the company have been maintained.
Appropriate accounting policies have been consistently applied in preparation of these financial statements and accounting estimates are based on reasonable and prudent judgment.
International Accounting Standards, as applicable in Pakistan, have been followed in preparation of financial statements and any departure there from has been adequately disclosed.
The system of internal control is sound in design and has been effectively implemented and monitored.
There are no significant doubts upon the company’s ability to continue as a progressive concern.
There has been no material departure from the best practices of corporate governance, as detailed in the listing regulations.