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Corporate governance

We recognise that a strong commitment to a robust corporate governance framework is critical to our long-term success.

We have developed a comprehensive corporate governance framework which is modelled on international best practice and complies with all regulatory requirements.

This framework sets out the:

  • Responsibilities of the Board and individual Directors
  • Terms of reference for each of the company’s Committees
  • Appropriate delegation of authority to Management

As a wholly-owned subsidiary of Emirates Global Aluminium, there is integration with EGA in some of our processes, with EGA departments and committees contributing expertise and insight for consideration by the GAC Board.

Board of Directors

The Board comprises eight directors. It provides strategic direction, management supervision and adequate controls with the ultimate objective of promoting the success and long term value of the company.

Company Committees

The Company has five committees to enable it to attend to the details of key matters and business decisions and to bring additional resources and expertise the GAC CEO and GAC Board may require. The Committees are:

  • Procurement Tender Committee
  • Executive Tender Committee
  • Human Capital Panel
  • Donation & Sponsorship Committee
  • Compensation Governance Committee

Terms of reference set out the qualifications for committee membership and guide the functioning of these committees.

Internal control, risk management and compliance

Our Finance and Legal and Compliance departments are responsible for our internal controls, risk management and compliance functions. These functions collectively ensure that we are able to achieve our business objectives in a prudent manner, safeguarding the interests of our shareholders and other stakeholders, while minimising key risks such as fraud, unauthorised business activity, misleading financial statements, uninformed risk taking or breaches of legal or contractual obligations.

External and internal auditors

Our external auditor is Deloitte.  We also have an internal auditor function whose role is to support our internal control, risk management and compliance functions, through regular internal audits and risk assessments.