Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 413 report information sustainability report Governance review review statements Annual Report 2022 KPMG LLP’s independent auditor’s report to the members of Barclays PLC (continued) Barclays PLC has centralised certain • The components in scope for Group 7. The scope of our audit Group-wide processes a shared service reporting purposes were either visited Group scope centre in India, the outputs of which are by the Group audit team to assess the What we mean included in the financial information of the audit risk and strategy, or such review How the Group audit team determined the reporting components it services and occurred remotely to assess the audit procedures to be performed across the therefore it is not a separate reporting risk and strategy. Conference meetings Group component. This service centre is subject and calls were also held with these to specified audit procedures, component auditors throughout the We have subjected four (2021: three) of predominantly the testing of transaction conduct of the audit. At these visits and the Group’s five components to full scope processing, reconciliations and review meetings, we reviewed the audits for Group purposes. Our approach controls. Additional procedures are components’ key working papers, the to scoping the four components was as performed at certain reporting findings reported to the Group team follows: for two components, Barclays components to address the audit risks not were discussed in more detail, and any Bank UK PLC and Barclays Execution covered by the work performed by the further work required by the Group team Services Limited Solus, we directly shared service centre. was then performed by the component instructed the component audit teams to auditors; conduct and report to us on full scope The Group audit team has also performed audits; the third full scope component, audit procedures on the following areas on • Instructions issued by the Group audit Barclays PLC Solus was subject to a full behalf of the components: team to component auditors setting out scope audit by us (2021: audit of account the significant areas to be covered, • Testing of IT systems and automated balance), and the fourth component, including the relevant key audit matters business controls; and Barclays Bank PLC Group, was subject to a identified above and the information to • Operating expenses and Group full scope audit by us and for which we be reported back to the Group audit recharges. specified seven (2021: seven) components team. For example, minimum criteria for within that group. The Group team communicated the high-risk journals were set by the Group results of these procedures to the team and applied consistently across We have subjected one (2021: two) of the component teams. the audit; Group’s components, Barclays PLC Subsidiaries, to audits of certain account In addition, we have performed Group level • Review and approval by the Group audit balances carried out by us, this component analysis on the remaining components to team of the component materiality for represents less than 1% of total Barclays determine whether further risks of material all components; PLC Group assets. misstatement exist in those components. • Risk assessment and challenge sessions Within the Barclays Bank PLC Group we We were able to rely upon the Group's with each component audit team were specified the components as follows; internal control over financial reporting in held in the planning, interim and final Barclays Bank Solus to be subject to a full all areas of our audit, and where our phases of the audit, led by the Group scope audit carried out by us; Barclays controls testing supported this approach, engagement partner and audit quality Bank Delaware and Barclays Capital Inc to which enabled us to reduce the scope of partner; be subject to a full scope audit as our substantive audit work. • Fortnightly video conferences with the instructed by us; and Barclays Bank Ireland Group audit team oversight partners and directors of the Group and PLC and Barclays Capital Securities component audit teams along with What we mean Limited to be subject to an audit of certain regular ad-hoc contact in person and via The extent of the Group audit team’s account balances as instructed by us. We video calls and email exchanges to involvement in component audits. have subjected Barclays Bank Subsidiaries challenge the component audit A hybrid communication and oversight and Barclays Bank Intermediate Holding approach and findings; strategy was implemented between the Companies (‘IHC’) Subsidiaries to an audit • Stuart Crisp, the Group Lead Group audit team and the components of certain account balances carried out by Engagement Partner (and Senior during the year as opposed to virtual us, these components represent less than Statutory Auditor), attended each Board oversight during the COVID 19 pandemic. 2% of total Barclays Bank PLC Group Audit Committee for Barclays Bank PLC assets. This included: and at least one Board Audit Committee The components within the scope of our • A virtual global planning conference led for each of Barclays Bank UK, the IHC work accounted for the percentages by the Group audit team to discuss key covering Barclays Capital Inc. and illustrated in section 2 – Group scope. audit risks and obtain input from Barclays Bank Delaware, and Barclays component teams and other The materiality levels applied to the audits Bank Europe; participating locations; of the components of Barclays PLC are as • Review of key working papers within follows: component audit files (both in person and using remote technology capabilities) to understand and Scope Number of components Range of materiality applied challenge the audit approach and audit Full scope audit 4 £100m - £170m findings of each component. Audit of account balance 1 £100m