Page 40 - Beeks Financial Cloud Group Annual Report 2021

38 Beeks Financial Cloud Group PLC

Chairman’s Introduction
For the year ended 30 June 2021

Chairman’s

Introduction

as to The Group’s financial position. required to support the Directors depth in each of its core functions
This encompasses responsibility existing skillset. of network operations, software
for The Group’s financial health, development, sales & marketing
that it has in place an appropriate PRINCIPLE 7: EVALUATE BOARD and finance which it will draw on,
financial strategy to enable it to PERFORMANCE BASED ON CLEAR together with appropriate external
achieve its wider strategic plan AND RELEVANT OBJECTIVES, appointments, in regards to
objectives, its annual budget SEEKING CONTINUOUS succession.
outcomes and, most importantly, IMPROVEMENT
is able to meet its obligations to The Company was admitted to PRINCIPLE 8: PROMOTE A
shareholders, the ‘market’, banks, trading on AIM on 27 November CORPORATE CULTURE THAT IS
creditors, suppliers and other 2017. The Board was appointed in BASED ON ETHICAL VALUES AND
GOVERNANCE
stakeholders as required. advance of Admission with the BEHAVIOURS
exception of the CFO who was The Board places a high degree of
The CFO responsibilities also appointed at the Company’s AGM value on promoting a corporate
encompass: on 24 October 2018. Since Admission, culture that reflects The Group’s
/ Internal and external financial evaluation of the performance ethical principles and behaviours
reporting of the Company’s Board has in order to maximise the quality
/ Corporate governance historically been implemented in of service that is passed on to the
/ Risk management and the an informal manner. The Chairman customer. As The Group works
maintenance of effective systems regularly communicates with Board as an international team that is
of internal control Members outside of Board meetings spread across three continents,
/ Responsible for the Company to ensure that each director is a lot of importance is placed on
Secretary role satisfied with the performance of a culture of inclusivity and open
/ Tax compliance and planning the Board and has the opportunity and honest communication;
/ Liaising with the Nomad on a to raise any issues of concern. ensuring that employees are
regular basis Similarly, the Chairman uses his equally understood, trusted, and
/ Compliance with AIM Rules substantial experience of plc boards that individual cultural values and
and MAR to evaluate the Board effectiveness languages are respected. The
on an ongoing basis. Company encourages innovation,
The CFO is required to keep up to has flat management structures,
date with any changes to accounting The Chairman has been tasked with open plan offices and a culture of
standards and to ensure his skillset is assessing the individual contributions continuous improvement. This helps
refreshed on an ongoing basis. of each of the members of the team to ensure that communication and
to ensure that: understanding flows well within the
The Non-Executive Directors / Their contribution is relevant= Company, and thereby provides
hold senior positions with other and effective the most efficient and highest
companies ensuring that their / They are committed quality of service to clients.
knowledge is continuously refreshed. / Where relevant, they have
Specific training will be provided to maintained their independence The Board has implemented formal
the Board by the Company when The Board has established an HR policies and procedures that
executive team with strength in sets out details and guidelines on