Page 245 - Annual Report 2020

5.4 Statement of Directors’ responsibilities in respect of the Annual Report
and the Financial Statements

The Directors are responsible for preparing the Annual Report and the The Directors are responsible for keeping proper accounting records Strategic Report
Group and Parent company Financial Statements in accordance with that disclose with reasonable accuracy at any time the financial
applicable law and regulations. References to the ‘Group and Parent position of the parent company and enable them to ensure that
company Financial Statements’ are made in relation to the Group and its Financial Statements comply with the UK Companies Act 2006.
individual Parent company Financial Statements of BHP Group Plc. They are responsible for such internal control as they determine is
UK company law requires the Directors to prepare Group and Parent necessary to enable the preparation of Financial Statements that are
free from material misstatement, whether due to fraud or error, and
company Financial Statements for each financial year. The Directors have general responsibility for taking such steps as are reasonably
are required to prepare the Group Financial Statements in open to them to safeguard the assets of the Group and to prevent
accordance with IFRS as adopted by the EU and applicable law and and detect fraud and other irregularities.
have elected to prepare the Parent company Financial Statements
in accordance with UK Accounting Standards and applicable law Under applicable law and regulations, the Directors are also
(UK Generally Accepted Accounting Practice). responsible for preparing a Strategic Report, Directors’ Report, Governance at BHP
The Group Financial Statements must, in accordance with IFRS as Directors’ Remuneration Report and Corporate Governance
adopted by the EU and applicable law, present fairly the financial Statement that complies with that law and those regulations.
position and performance of the Group; references in the UK The Directors are responsible for the maintenance and integrity of the
Companies Act 2006 to such Financial Statements giving a true corporate and financial information included on the Group’s website.
and fair view are references to their achieving a fair presentation. Legislation in the United Kingdom governing the preparation and
The Parent company Financial Statements must, in accordance dissemination of Financial Statements may differ from legislation
with UK Generally Accepted Accounting Practice, give a true and fair in other jurisdictions.
view of the state of affairs of the parent company at the end of the
financial year and of the profit or loss of the parent company for the
financial year.
In preparing each of the Group and Parent company Financial Remuneration Report
Statements, the Directors are required to:
• select suitable accounting policies and then apply them consistently;
• make judgements and estimates that are reasonable and prudent;
• for the Group Financial Statements, state whether they have been
prepared in accordance with IFRS as adopted by the EU;
• for the Parent company Financial Statements, state whether
applicable UK Accounting Standards have been followed, subject
to any material departures disclosed and explained in the Parent
company Financial Statements; Directors’ Report
• assess the Group and parent company’s ability to continue
as a going concern, disclosing, as applicable, related matters;
• use the going concern basis of accounting unless they either
intend to liquidate the Group or the parent company or to cease
operations, or have no realistic alternative but to do so.

5

Financial Statements

Additional information

BHP Annual Report 2020 243 Shareholder information