Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 171

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 171
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 Committee is to review and monitor, among other things: &#8226; the integrity of the Group&#8217;s financial statements and related announcements &#8226; the effectiveness of the Group&#8217;s internal controls &#8226; the independence and effectiveness of the internal and external audit processes &#8226; the Group&#8217;s relationship with the external auditor &#8226; the effectiveness of the Group&#8217;s whistleblowing procedures. The Committee&#8217;s terms of reference are available at home.barclays/who- we-are/our-governance/board- committees/ Further information about the skills and experience of the Committee members can be found in their biographies in Our Board of Directors section from page 64. Primary activities The Committee discharged its responsibilities in 2024 through monitoring the effectiveness of the internal control environment and internal and external audit processes, as well as the integrity of financial statements and related announcements. Financial reporting Fair, balanced and understandable reporting In light of the Board&#8217;s obligation under the Code, the Committee assesses external reporting to ensure it is fair, balanced and understandable. In addition to this Annual Report and associated year-end reports, the Committee also reviewed the Group&#8217;s half-year and quarterly results announcements and associated investor presentations. The Committee informed these reviews through: &#8226; consideration of reports of the Group Disclosure Committee &#8226; direct questioning of management on the transparency and accuracy of disclosures &#8226; feedback from KPMG, including areas in which they challenged management and how those discussions impacted the disclosures &#8226; consideration of the results of management&#8217;s testing of controls relating to financial reporting processes, including the output of the Group&#8217;s internal control assessments and the SOx s404 internal control processes. The Committee closely considered the Group's financial disclosures and provided feedback, including on areas where disclosures could be enhanced and clarity provided. Having evaluated the available information, the assurances by management and KPMG and underlying processes used to prepare the published financial information, the Committee concluded and recommended to the Board that the 2024 Annual Report and Accounts are fair, balanced and understandable. 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 89Governance Directors&#8217; report: Board Audit Committee report (continued)

Critical accounting estimates and judgements Conduct provisions Barclays makes certain assumptions and estimates,