Principal risks and uncertainties 1 The Board, through the Audit and Risk Committee, has overall responsibility for the risk management and mitigation process. The Board places a particular emphasis on the scope and nature of the relevant risks when determining how the Group should seek to achieve its strategic objectives. The Group’s strategy is to build a purely The Group is a global one, well suited to digital multinational advertising and marketing the challenges of the international age and services business, initially, given its embryonic adaptable to political and cultural changes. origins, by combinations. In the context of Whilst it is headquartered in London, future organic- and business combination- its business is multinational. Google’s driven growth, the Board is prepared to accept announcement that it will be blocking third- a certain level of risk to build a multinational party cookies by 2023 (delayed from 2022) business that is able to compete with presents both a significant opportunity and established competitors and capitalise on the challenge to the Group, given that several of digitally-led disruption of the advertising and our programmatic activities are built on top of marketing services sector. the third-party cookie. Nevertheless, rather The Group’s approach to risk is kept under than resisting changes we will adapt to them review. The Group’s approach to particular and seek to find opportunities within them risks or classes of risk may change over time to evolve and we are working closely with as the Group grows and its market evolves. Google to find solutions. We have seen a major increase in client interest in our data and The Group is run on a unitary, or single profit analytics capabilities as a result. centre, basis. Many of the risks faced by the Risk movement Group as a whole, together with its Content, Data&Digital Media and Technology Services The risks and uncertainties faced by the Group practices are similar. The Group therefore continues to evolve as the Group expands seeks to adopt a consistent approach to and establishes itself in new jurisdictions such risks and to pool expertise in risk which present further challenges and risks. management, as appropriate. Nevertheless, As a result, the Board continuously evaluates the Board considers that it is also appropriate the movement in the risks outlined on the for risk registers to be maintained at the following pages. Group level and also at each of the Group’s Risks trading businesses. Senior management at its Content, The principal risks and uncertainties that the Data&Digital Media and Technology Services Board believes could have a significant adverse practices are responsible for maintaining risk impact on the Group’s business are set out on registers that record the risks that are specific pages 34 to 38. to each business. S4Capital Annual Report and Accounts 2021 33