Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 175

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 175
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utable reserves position for the full year dividend for the year ended 31 December 2024 along with a proposed share buy-back. Internal controls Internal controls and business control environment The Committee considers the effectiveness of the overall control environment, including the status of any significant control issues and the progress of specific remediation plans. The Committee: &#8226; considered feedback received from regulatory stakeholders on the Group&#8217;s internal control environment and management&#8217;s response &#8226; received regular reports on the more significant control matters and remediation programmes across the Group &#8226; discussed reports from the heads of BUK, the Investment Bank (both Markets and Investment Banking), PBWM, UKCB and USCB on their control environment, together with views from the second and third lines of defence. The Committee requested enhancements to management reporting to provide greater visibility on progress of material remediation programmes and enable earlier intervention by the Committee if appropriate. Following Committee feedback, management reporting on controls matters was enhanced to reflect a more integrated approach across the three lines of defence as well as a more streamlined view across the areas of controls and operational risk. The Committee acknowledged management's progress in driving sustainable improvements in the Group's internal control environment, and agreed with management's recognition that this did not reduce the need for constant focus on identifying further improvements. In that context, the Committee welcomed proposals to undertake a review of the Group-wide controls framework to further enhance and streamline it where appropriate. (read more about Barclays' internal control and risk management processes on page 105) Whistleblowing Raising concerns The Committee considers the adequacy of the Group&#8217;s arrangements to allow colleagues to raise concerns in confidence and anonymously without fear of retaliation, and the outcomes of any substantiated case. The Committee received detailed semi-annual reports on whistleblowing from management. It monitored key whistleblowing metrics, the 'speak up' culture across the Group and any potential whistleblowing trends including around retaliation and anonymity. The Committee sought feedback from management on the effectiveness of enhancements made to the whistleblowing process, including impact on colleague experience and suggested ways in which speaking up among colleagues could be further encouraged. Areas of focus Role of Committee / Key issues considered Conclusion / action taken Strategy Shareholder information Climate and sustainability report Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 91Governance Directors&#8217; report: Board Audit Committee report (continued)

Internal audit Internal audit The Committee monitors and assesses the performance of Barclays Internal Audit (BIA