and detection of fraud and other irregularities.The directors consider that the Annual Report, taken as a whole, We make the world safer, healthier and more efficient. We apply leading-edge technology to design, manufacture and deliver innovative solutions that meet our customers’ needs. Identify Risk and potential impact Data for continuing operations unless otherwise stated. independent assurance Parent Company accounts comply with applicable UK Accounting 2017);The above-mentioned documents will be uploaded to the National Maintaining our competitiveness and continually improving our product offering for our customers ensures we remain resilient and well placed to take advantage of commercial opportunities. necessary for shareholders to assess the Group's position and The directors have determined that a three-year period to 31 July 2019 is an appropriate time frame for the viability assessment. The Board has reviewed the effectiveness of the risk management process, considering the principal risks and uncertainties, actions taken by management to manage those risks and the Board's risk appetite in respect of each risk. Agreed funding plans are in place with the major UK schemes following the last triennial reviews.
Other than the information set out below (which is extracted from the Annual Report 2016), the regulated information in the Annual Report 2016 that is of a type that would be required to be disseminated in a half-yearly report has already been released in unedited full text via the Results announcement. required by Disclosure Guidance & Transparency Rule DTR 6.3.5 The diversified nature of the Group mitigates the exposure to any single contract. The 'trend' metric reflects the Inside Smiths 2017. • Ensuring risk appetite of the Board is understood by decision makers with applicable law and regulations.Company law requires the directors to prepare accounts for each The Group operates in global markets. Annual General Meeting Proxy Form. The investment strategies of the three main plans (UK and US) are well hedged against changes in interest rate and inflation movements which has stabilised the overall funded position. The Group is dependent on information technology systems for both internal and external communications and for the day-to-day management of its operations. The graphic version of pages 62 to 67 of the Report is The Group's return on capital employed may fall if acquisition hurdle rates are not met. preparation of this document and, unless otherwise required by The Executive Committee is responsible for designing the system of internal control and risk management, and ensuring it is in place and effectively deployed throughout the business. Each division or function holds talent and succession plan reviews at least annually. http://www.rns-pdf.londonstockexchange.com/rns/2146T_-2017-10-10.pdfWe maintain a register of principal risks and uncertainties The forward-looking statements reflect the knowledge and information available at the date of this announcement and unless otherwise required by applicable law the Company undertakes no obligation to update or revise these forward-looking statements. See latest results, investment case, shareholder services and corporate governance for Smiths Group. applicable law, the Company undertakes no obligation to update or © 2020 Smiths Group plc
It is an integral and often implicit part of day-to-day operations. Analyse • Executive Committee meeting sessions dedicated to reviewing specific principal risks There is a risk that the Group may not always be in complete compliance with laws, regulations or permits, for example concerning environmental or safety requirements worldwide.
Service of the London Stock Exchange, at 07:00 on 22 September 2017 Certain non-reproducible graphics contained in the Annual Report are described within the text below; some formatting is not reproduced. This enhanced process provides a framework such that the Group's strategic, financial and operational risks are adequately considered by the Executive Committee and the Board. (This statement is repeated here solely for the purposes of complying with Disclosure Guidance & Transparency Rule 6.3.5. The Group's reported net assets will fluctuate as the year-end exchange rate changes.
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