Governance
Explore our leadership,
board, and governance
approach
Board of directors
General Meeting
of Shareholders
Directors
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Chief Executive OfficerManagement
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CFO
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COO
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CHRO
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Regional Heads
- Development & execution of policies and procedures
- Ensuring communication across all stakeholders
- Managing conflict of interest
- Supplier management
- Risk management
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Human Resources &
Compensation Committee -
Audit Committee
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Internal Audit
Department & External Audit -
External Audit
All Independent
Directors -
Internal Framework
Policies & procedures, Board and its committee charters, CEO instructions, Code of Conduct, values, etc.
External Framework
Legislators, regulations, best practices, business partner agreements, stock exchange, code of corporate governance, SECP, etc..
BOD’s responsibilities
Systems Limited BOD has actively complied with all the applicable laws and regulations to ensure value addition for the shareholders. Some key responsibilities of the Board are as follows:
- Monitoring the effectiveness of the company’s governance practices and overall corporate strategy the company is prepared, adopted, and reviewed as and when deemed appropriate by the Board.
- Adequate systems and controls are in place for the identification and redressal of grievances arising from unethical practices.
- A system of sound internal control is established, which is effectively implemented and maintained at all levels within the company.
- A formal and effective mechanism is put in place for an annual evaluation of the Board’s performance, members of the Board, and its committees.
- Ensuring that significant policies along with their dates of approval or updating are maintained by the company.
Audit committee responsibilities
Systems Limited Audit Committee has actively supported the Board in all material aspects and has fulfilled its responsibilities as per the applicable laws and regulations. Some key responsibilities of the Audit Committee are as follows:
- Review of internal controls of the company to ensure the safeguarding of the company’s assets;
- Review of annual and interim financial statements of the company, before their approval by the Board
- Facilitating the external audit and discussion with external auditors of major observations arising from interim and final audits and any matter that the auditors may wish to highlight (in the absence of management, where necessary)
- Review of management letter issued by external auditors and management’s response thereto;
- Ensuring coordination between the internal and external auditors of the company;
- Review the scope and extent of the internal audit, audit plan, reporting framework, and procedures and ensure that the internal audit function has adequate resources and is appropriately placed within the company;
- Consideration of major findings of internal investigations of activities characterized by fraud, corruption, and abuse of power and management's response thereto;
- Monitoring compliance with these Regulations and identification of significant violations thereof.
- Recommend to the Board the appointment of external auditors, their removal, audit fees, the provision of any service permissible to be rendered to the company by the external auditors in addition to the audit of its financial statements, measures for redressal and rectification of non-compliance with the Regulations.
Human resource & compensation committee
Systems Limited Human Resource and Compensation Committee has actively supported the Board in carrying out its duties and responsibilities regarding the compensation of management and ensuring appropriate policies are in place. Some key responsibilities are as below
- Recommendation to the Board for consideration and approval of a policy framework for determining the remuneration of directors (both executive and non-executive directors and members of senior management).
- Recommending human resource management policies to the Board;
- Recommending to the Board the selection, evaluation, development, and compensation (including retirement benefits) of senior management
- Consideration and approval of recommendations of the chief executive officer on such matters for key management positions who report directly to the chief executive officer or chief operating officer
Date of next election for directors
Employee code of conduct
Systems Limited is truly committed to the highest standards of ethics and integrity when working with different stakeholders every day. We rely on our “Employee Code of Conduct” to guide and align our behaviors while we make business decisions. The principles stated in our “Employee Code of Conduct” apply to all aspects of our business. It outlines our values, and supports our commitment to ethical and honest conduct and compliance with all laws, rules, regulations, company policies, procedures, and standards.
Systems Limited holds all employees responsible for carrying out and monitoring compliance with this commitment. If any employee becomes aware of any violation of a legal or ethical obligation, or any unfair or improper treatment of personnel related to the company, they must immediately report the matter to the Human Resources Department so that it can be investigated right away. In this manner, we can take all necessary steps to investigate any potential violations of our policy and can take appropriate action to correct any violations or incorrect perceptions that are found to exist.
Download Employee Code of Conductضابطہ اخلاق برائے ملازمین
سسٹمزلمیٹڈ مختلف حصص یافتگان کے ساتھ روزانہ کی بنیادوں پہ کام کرنے کے دوران اخلاقیات اور سالمیت کے اعلی ترین معیارات کو برقرار رکھنے کیلئے صحیح معنوں میں مصروفِ عمل ہے۔ ہم کاروباری فیصلے کرنے کے دوران اپنے رویوں کی رہنمائی اوردرستگی کیلئے “ضابطہ اخلاق برائے ملازمین” پہ انحصار کرتے ہیں۔ “ضابطہ اخلاق برائے ملازمین” میں بیان کردہ تمام اصول ہمارے کاروبارکے تمام پہلوؤں پہ لاگو ہوتے ہیں۔ یہ ہماری اقدارکو واضح کرتے ہیں اور یہ تمام قوانین، قواعد و ضوابط کی اخلاقی اور ایماندارانہ پیروی اور تعمیل کیلئے ہمارے عزم؛ اور ہماری کمپنی کی پالیسیوں، طریقہ کاروں اور معیارات کی معاونت کرتے ہیں۔
سسٹمزلمیٹڈ تمام ملازمین کو اس عزم کی پیروی کرنے اور اسکی تعمیل کی نگرانی کرنے کا ذمہ داربناتا ہے۔ اگر کوئی ملازم کسی بھی قسم کی قانونی یا اخلاقی ذمہ داری کی خلاف ورزی، یا کمپنی سے منسلک افراد کے ساتھ کسی بھی قسم کے نامناسب یاغیرموزوں سلوک کے بارے میں آگاہ ہوتا ہے، تواس کی اطلاع اُنکو لازمی طور محکمہ برائے انسانی وسائل (HRD) کو کرنی ہے تاکہ فوراً اسکی تفتیش کی جاسکے۔ اس معاملے میں، ہم اپنی پالیسی کی ممکنہ خلاف ورزی کے بارے میں تفتیش کرنے کیلئے تمام ضروری اقدامات اُٹھائیں گے اورکسی بھی قسم کی خلاف ورزی یا غلط تصورات جو کہ موجود پائے جاتے ہیں کو درست کرنے کیلئے مناسب عمل کرسکتے ہیں۔
ڈاؤنلوڈ ضابطہ اخلاق برائے ملازمینStatement of Commitment to Minority Shareholders
We are committed to creating value for minority shareholders and acting in their best interests through consistent dividend payments, transparent reporting, and strong corporate governance.
اقلیتی حصص یافتگان سے وابستگی کا بیان
ہم اقلیتی حصص یافتگان کی بہتری اور مستقل منا فع کی ادائیگی،شفاف رپورٹنگ اور مظبوط کارپوریٹ گورننس کے زریئے ان کے بہترین مفاد میں کام کرنے کے پابند ہیں۔
Our legal consultants & auditors
Legal Consultants
Ahmad & Pansota
Hasan & Hasan Advocates
Mohsin TayebAly & Co.
External Auditors
A.F Ferguson & Co. Chartered
Accountants
Internal Auditors
Uzair Hammad Faisal & Co
Share Registrar
Central Depository Company
Address: CDC House, 99-B, Block B, S.M.C.H.S., Main Shahra-e-Faisal, Karachi – 74400.
Tel: (92-21) 111-111-500 Fax: (92-21) 34326034
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