RBS 2004 Annual Report Download - page 121

section
02
119
Annual Report and Accounts 2004
Report of the directors
Governance
The Group is also committed to ensuring that all prospective
applicants for employment are treated fairly and equitably
throughout the recruitment process. Our comprehensive
resourcing standards cover the attraction and retention of
individuals with disabilities. Reasonable adjustments are
provided to support the applicant in the recruitment process
where these are required. The Group provides reasonable
workplace adjustments for new entrants into the Group and
also for existing employees who become disabled during their
employment.
Health, safety, well being and security
The health, safety, well being and security of employees and
customers are of vital concern to the Group, which constantly
reviews its position on policies in these areas to reflect current
legislation and best practice. Furthermore, the Group focuses
on ensuring that those policies are closely linked to the
operational needs of the business.
Corporate responsibility
Business excellence requires that the Group meets changing
customer, shareholder, investor, employee and supplier
expectations. The Group believes that meeting high standards
of environmental, social and ethical responsibility is key to the
way it does business.
The Board regularly considers corporate responsibility issues
and receives a formal report on these matters twice each year.
Further details of the Group’s corporate responsibility policies
will be contained in the 2004 Corporate Responsibility Report.
Code of ethics
The Group has adopted a code of ethics that is applicable to all
of the Group’s employees and a copy is available upon request.
Charitable contributions
In 2004 the contribution to the Group’s Community Investment
programmes increased to £45.8 million (2003 – £40.1 million).
The total amount given for charitable purposes by the company
and its subsidiary undertakings during the year ended 31
December 2004 was £20.1 million (2003 – £14.7 million).
Corporate governance
The company is committed to high standards of Corporate
governance. Details are given on pages 120 to 123.
Political donations
No political donations were made during the year.
At the annual general meeting in 2002 shareholders gave
authority for the company and certain of its subsidiaries to
make political donations and incur political expenditure up to a
maximum aggregate sum of £675,000 as a precautionary
measure in light of the wide definitions in The Political Parties,
Elections and Referendums Act 2000, for a period of four
years. These authorities have not been used and it is not
proposed that the Group’s longstanding policy of not making
contributions to any political party be changed.
Policy and practice on payment of creditors
The Group is committed to maintaining a sound commercial
relationship with its suppliers. Consequently, it is the Group’s
policy to negotiate and agree terms and conditions with its
suppliers, which includes the giving of an undertaking to pay
suppliers within 30 days of receipt of a correctly prepared
invoice submitted in accordance with the terms of the contract
or such other payment period as may be agreed.
At 31 December 2004, the Group’s trade creditors represented
27 days (2003 – 27 days) of amounts invoiced by suppliers.
The company does not have any trade creditors.
Auditors
The auditors, Deloitte & Touche LLP, have indicated their
willingness to continue in office. A resolution to re-appoint
Deloitte & Touche LLP as the company’s auditor will be
proposed at the forthcoming annual general meeting.
By order of the Board.
Miller McLean
Secretary
23 February 2005
The Royal Bank of Scotland Group plc
is registered in Scotland No. 45551.