geefcee finance ltd Management discussions

Management Discussion and Analysis comprising an overview of the financial results, operations performance and the future prospects of the Company form part of this Annual Report.

HUMAN RESOURCES

Your Company treats its "human resources" as one of its most important assets.

Your Company continuously invest in attraction, retention and development of talent on an ongoing basis. A number of programs that provide focused people attention are currently underway. Your Company thrust is on the promotion of talent internally through job rotation and job enlargement.

PARTICULARS OF EMPLOYEES

The Company has no employee during the year in respect of which the statement pursuant to section 197 of the Companies Act. 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is required to be annexed.

INTERNAL FINANCI AL CONTROLS

A strong internal control culture is pervasive in the company.The company has documented a robust and comprehensive internal control system for the major processes to ensure reliability of financial reporting, timely feedback on achievement of operational and strategic goals, compliance with policies, procedures, laws and regulations, safeguarding of assets and economical and efficient use of resources. The formalized system of control facilitate effective compliance as per Clause 49 of the Listing Agreement

The internal Audit department continuously monitors the efficacy of internal controls with the objective of providing to the Audit Committee and the Board of Directors, an independent, objective and reasonable assurance on the adequacy and effectiveness of the organizations risk management, control and governance processes. The internal financial controls with reference to the Financial Statements are commensurate with the size and nature of business of the Company.

The scope and authority of the Internal Audit activity are approved by the Audit Committee. During the year Audit committee met regularly to review reports submitted by Internal Audit department. All significant audit observations and follow up actions thereon were reported to Audit Committee. The Audit Committee also met the company’s Statutory Auditors to ascertain their views on the financial statements, including the financial reporting systems, compliance to accounting policies and procedures, the adequacy and effectiveness of the internal controls and systems followed by the company.

risk man policy

In terms of the requirement of the Act. the Company has developed and implemented the Risk Management Policy and the Audit Committee of the Board reviews the same periodically.