DIRECTORS’ REPORT (cont.)
SUBSEQUENT EVENTS Subsequent to year end, management are continuing to finalise the contract with our client in relation to Project Caymus in Darwin, NT. Other than the above, there have been no other matters or circumstances occurring subsequent to the end of the financial year, that have significantly affected, or may significantly affect, the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial years. ENVIRONMENTAL REGULATION AND PERFORMANCE Saunders is subject to a range of State and Federal environmental regulations in Australia. In line with our Safety, Health and Quality objectives, Saunders strives to continually improve its environmental performance. The Group recognises the material environmental and social risks that are relevant to its activities and takes action to manage those risks. Discussion across a range of sustainability related topics, including climate change, occur frequently at Board meetings. Climate change risk has been included in the internal management process governing investment decisions. The Board provides oversight and strategic direction to sustainability and has ultimate responsibility for our Company’s consideration of climate-related risk. It is guided by our Audit and Risk Committee. During the financial year, Saunders were compliant with the reporting requirements under relevant legislation. There were no material incidents which required reporting. FUTURE DEVELOPMENTS Details around the Operating and Financial Review and Outlook are disclosed on pages 34 and 35. INDEMNIFICATION OF OFFICERS AND AUDITORS During the financial year, the Group paid a premium in respect of a contract insuring the directors of the Group, the Group secretary, and all executive officers of the Group and of any related body corporate against a liability incurred by such a director, secretary or executive officer to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium. The Group has not otherwise, during or since the end of the financial year, except to the extent permitted by law, indemnified or agreed to indemnify an officer or auditor of the Group or of any related body corporate against a liability incurred as such an officer or auditor.
NON-AUDIT SERVICES Details of amounts paid or payable to the auditor for non-audit services are outlined in Note 25 to the financial statements. During this financial year there was nil paid or payable for non-audit services (2022: $4,075). AUDITOR’S INDEPENDENCE DECLARATION The auditor’s independence declaration is included on page 46 of the annual report. ROUNDING OFF OF AMOUNTS The Group is of the kind referred to in ASIC Corporations (Rounding in Financials/Directors’ Reports) Instrument 2016/191, dated 24 March 2016, and in accordance with that Corporations Instrument amounts in the directors’ report and the financial statements are rounded off to the nearest thousand dollars, unless otherwise indicated. This directors’ report is signed in accordance with a resolution of directors made pursuant to s298(2) of the Corporations Act 2001. On behalf of the Directors
Mark Benson
Nick Yates Director
Director
Sydney, 29 August 2023
Sydney, 29 August 2023
Annual Report 2023 44
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