GOVERNANCE
Good governance is core to our business achieving its objectives and vision as a Group: to lead the future of world trade.
Our Board
Our Board is central to our Corporate Governance Framework and is supported by a number of committees to which certain Board responsibilities are delegated. These committees in turn formally report to the Board following each meeting to ensure that the Board remains fully updated on their activities.
The Board considers that the corporate governance framework promotes the prudent and sound management of the Company in the long-term interest of the Company and its shareholders and is effective in promoting compliance with the applicable corporate governance principles and standards.
For more information on our Board, please visit our Leadership page
OUR BOARD COMMITTEES
The Board’s principal committees include the Nominations and Remuneration Committee, Audit and Risk Committee, and Governance and Sustainability Committee, with formally delegated duties and responsibilities and written terms of reference.
From time to time, the Board may set up additional committees to consider specific issues when the need arises. The Group Company Secretary provides support as the secretary for the Board’s principal committees.
Leadership
A balanced board with the necessary skills, knowledge, and industry experience to lead our Group is key to achieving our strategic objectives and long-term goals.
The Board remains committed to effectively leading the Company, ensuring that our business is managed prudently and soundly to drive sustained long-term value for our Shareholders. The balance of skills and expertise on our Board will allow us to continue creating value as we expand our horizons and lead the future of world trade.
Accountability
Our corporate governance practices lay down the framework for creating long-term trust between us and all our stakeholders – our shareholders, customers, employees, suppliers, governments, and communities. We will continue to engage with our stakeholders and encourage effective dialogue with our Shareholders.
As a Board, we are ultimately responsible for determining the Group’s risk appetite and its willingness to accept certain risks in pursuit of achieving the Group’s strategic objectives. The Board is also responsible for maintaining appropriate risk management and internal control systems.
AUDIT AND RISK COMMITTEE
The primary role of the Audit and Risk Committee is to ensure the integrity of the financial reporting and audit process and to oversee the maintenance of sound internal control and risk management systems. This includes the responsibility to:
- Make recommendations to the Board on the appointment and remuneration of the external auditor, review and monitor the external auditors’ performance, expertise, independence, and objectivity, along with the effectiveness of the audit process and its scope;
- Review and monitor the integrity of the Group’s financial statements and the significant reporting judgements contained in them;
- Monitor the appropriateness of accounting policies and practices;
- Review the adequacy and effectiveness of financial reporting and internal control policies and procedures, and risk management systems.
- Monitor and review the activities and effectiveness of the internal audit function;
- Review the effectiveness of the Group’s whistleblowing policies.
Monitor risks and compliance procedures across the Group.
External and internal auditors are invited to attend the Audit and Risk Committee meetings, along with any other Director or member of staff considered necessary by the Committee to complete its work. The Committee meets with external auditors and internal auditors without Executive Directors or members of staff present at least once a year, and additionally, as it considers appropriate.
Further information regarding External Auditors, Risk Management Processes, Internal Controls, and the principal matters considered by the Audit and Risk Committee during 2024 is available in our 2024 Annual Report and Accounts found here.
Click here for the Audit and Risk Committee terms of reference.
COMMITTEE MEMBERS, 2024
The membership of the Audit and Risk Committee is comprised of three members, all of whom are Independent Non-Executive Directors.
The Audit and Risk Committee meets formally at least four times a year and otherwise as required.
OUR POLICIES
Code of Ethics & Anti-corruption
DP World is committed to ensuring that everything it does has a long-lasting positive impact on economies and society. As a result, we set rigorous ethical, professional and legal standards for ourselves and the way we do business. Our DP World Code of Ethics identifies how we maintain international best practice in preventing conflicts of interest, fraud, insider trading, misuse of confidential and personal information, and modern slavery. To read our Code of Ethics, please click here.
In particular, DP World recognises bribery as unethical conduct that has a negative impact on society: it causes political instability, creates social insecurity, weakens institutions, and distorts markets. The senior management of DP World has adopted a non-negotiable commitment to excluding bribery from its business. This commitment to anti-bribery is supported by clear policies, practical procedures, workforce training and regular monitoring and review. To read our Anti-Corruption Policy, click here.
We invite dialogue with communities, industry groups and others around anti-bribery. To contact us, simply email [email protected].
We expect our business partners (vendors, consultants, joint venture partners etc) to share our ethical and anti-bribery values. We invite all stakeholders to raise concerns about unethical or unlawful conduct in relation to our business through our Whistleblowing Hotline – click here for more details.