FirstWave Cloud Technology Limited has enhanced its corporate governance framework by adopting a set of values, a code of conduct, and policies against bribery and corruption, ensuring a lawful, ethical, and responsible culture.
Material actions and disclosures
The Board has established a set of values that serve as the foundation for achieving the company’s business objectives. These values are supported by the Code of Conduct, which provides guidance on acceptable behavior and requires all directors, managers, and employees to maintain the highest standards of integrity and honesty.
The company’s Code of Conduct applies to all directors, senior executives, and employees, setting out a framework to enable directors to achieve the highest possible standards in the discharge of their duties and to give a clear understanding of best practice in corporate governance. The Board is informed of any material breaches of the Code.
FirstWave has also established a Whistleblower Policy and an Anti-Bribery and Corruption Policy, both of which apply to directors, employees, contractors, suppliers, consultants, auditors, associates, and relatives of such persons. The Board is informed of any material incidents reported under the Whistleblower Policy and any breaches of the Anti-Bribery and Corruption Policy.
The company’s Diversity Policy aims to create a diverse workplace that is fair and flexible, promoting personal and professional growth and enabling employees to enhance their contribution to the company by drawing from their different backgrounds, beliefs, and experiences.
The Board, in consultation with the Remuneration and Nomination Committee, sets measurable objectives for achieving diversity, including gender diversity, and reviews the effectiveness and relevance of these objectives annually.
FirstWave’s Audit, Risk and Compliance Committee oversees the integrity of corporate reports and the company’s risk management framework. The committee reviews the risk management framework from time to time and at least annually.
The company’s Board reviews all periodic unaudited reports released to the public through a review process that includes the Audit and Risk Committee and senior management.
FirstWave does not have a dedicated Risk Committee, but the Audit, Risk and Compliance Committee oversees the adequacy of the company’s processes for managing risk.