Page 25 - Beeks Financial Cloud Group Annual Report 2021

Beeks Financial Cloud Group PLC
Strategic Report - Principal Risks and Uncertainties For the year ended 30 June 2021

Key Impact Key Decision Made Key Stakeholder
Group’s impacted

Governance, The Board reviews and approves the results announcements and Shareholders,
Regulatory trading updates, the half year report and annual report and the Employees,
requirements AGM statement. The Board receives regular briefings from the Chief Customers,
and Risk Executive Officer and Chief Financial Officer and the Operations Suppliers,
board members. Environment

The Board takes regulatory responsibilities seriously and is
committed to ensuring that it is open and transparent with
regulators. In the current year, the Board met with our nominated
adviser to obtain an update on changes to AIM rules and market
abuse regulations to ensure Beek’s compliance with requirements. STRATEGIC REPORT

In the current year, the Board has received updates on the internal
control framework and the Group risk register and the continued
compliance with the ISO27001 accreditation.

Risk control documents are presented at Board meetings on the
Group’s key risks which include an updated assessment of controls
and improvement actions required in respect of each major risk.

The Group has recruited a Head of HR and Talent Management in
the current year and the board has been presented with employee
strategies including growth, upskilling and employee retention.

As noted in the Chief Executive Officer’s report on page 9, Principal
Risks and Uncertainties on page 17 and the Corporate Governance
report on page 33, the Board has formally considered the risk
mitigating measures as a result of Covid-19.

In December 2020, a new trading arrangement was concluded
between the United Kingdom and the European Union. The
Group have undertaken a detailed assessment of the impact
of the Group, our operations and supply chain which was
presented to the Board. Although the Group has been slightly
impacted with getting goods across the borders, it does not
expose significant risks or impact as a result of the new trading
agreement in place. This will be continually monitored over the
coming year.

The strategic report on pages 4 to 23 has been approved by the board and signed on its behalf by:

GORDON MCARTHUR
Chief Executive Officer
24 September 2021
23