RWS Annual Report 2022 web - Flipbook - Page 93
CORPORATE GOVERNANCE
Group and Company’s ability to continue as a going
concern are to model a range of reasonably plausible
downside scenarios, including a 10% reduction to the
Group’s revenues and corresponding cash flows, with
mitigating actions from management limited to equivalent
reductions in the Group’s controllable cost base.
Further information about the Audit and Remuneration
Committees and details of the Company’s remuneration
policy are set out on pages 80 to 91.
No significant structural changes to the Group have been
assumed in any of the downside scenarios modelled with
all mitigating actions wholly within management’s control.
It is Company policy that people with disabilities should
have the same consideration as others with respect to
recruitment, retention and personal development. People
with disabilities, depending on their skills and abilities,
enjoy the same career prospects as other employees and
the same scope for realising their potential.
In each of these modelled downside scenarios, the Group
continues to have significant covenant and liquidity
headroom over the period through to 31 March 2024.
Consequently, the Directors are confident that the
Group and Company will have sufficient cash reserves
and committed debt facilities to withstand reasonably
plausible downside scenarios and therefore continue to
meet its liabilities as they fall due for the period ending
31 March 2024 and therefore have prepared the financial
statements on a going concern basis.
SUBSEQUENT EVENTS
There are no material post balance sheet events that
require adjustment or disclosure in the Annual Report.
EMPLOYMENT OF DISABLED PERSONS
EMPLOYEE INVOLVEMENT
The Company’s policy is to consult and discuss with
employees matters likely to affect employee interests.
The Company is committed to a policy of recruitment and
promotion on the basis of aptitude and ability irrespective
of age, sex, race or religion. All group companies
endeavour to provide equal opportunities in recruiting,
training, promoting and developing the careers of all
employees.
FOSTERING GOOD RELATIONSHIPS
FINANCIAL INSTRUMENTS
Information about the use of financial instruments by the
Group is given in note 20 to the financial statements.
DIRECTORS
Details of members of the Board at the date of signing this
report are set out on pages 70 to 72.
Further information on Board composition, responsibilities,
commitments and re-election/election can be found on
pages 74 to 76 of the Corporate Governance Report.
The interests of the Directors in shares during the year are
set out on page 91 in the Directors’ Remuneration Report.
DIRECTORS’ INDEMNITIES
As permitted in its articles of association, the Directors
have the benefit of an indemnity - which is a thirdparty indemnity provision - as defined in section 234
of the Companies Act 2006. The indemnity was in force
throughout the last financial year and is currently in force.
The Company also purchased and maintained throughout
the financial year Directors and Officers liability insurance
in respect of itself and its Directors.
Understanding what matters to our stakeholders is
achieved by building strong, constructive relationships
and engaging regularly. We value the diverse perspectives
that our broad range of stakeholders bring to our decision
making. We recognise that engagement with stakeholders
is a vital part in the execution of our long-term strategy.
Our shareholders, colleagues, clients, suppliers and our
local communities are our key stakeholder groups.
We rely on our shareholders to finance our activities
and the continuing expansion of our business. As such,
engagement with them, creating value for them and
shaping our future decisions based on the results of our
engagement with them is critical to the long-term success
of the Group.
Our clients are at the core of our strategic thinking. It is in
response to their needs that we seek to provide quality,
efficient solutions. We are acutely focused on how their
needs continue to develop in the 24/7 digital world we all
now inhabit.
It is the talent, passion and hard work of our people that
enable us to deliver the most effective and innovative
solutions for our clients.
The relationships we build with stakeholders are subject
to sound governance to ensure insights are taken into
consideration in decision making at management and
Board level.
GOVERNANCE REPORT RWS — Annual Report 2022
93
