S S TR Involvement with component teams TR A In establishing our overall approach to the Group audit, we determined the type of work that needed to be undertaken at each of the components by us, as A TE TE G the primary audit engagement team, or by component auditors from other EY global network firms operating under our instruction. Of the four full scope G I I C components, audit procedures were performed on three of these directly by the primary audit team. For the three specific scope components, audit C R procedures were performed directly by the primary audit team. For the component not audited by the primary team, we determined the appropriate level of R E E P involvement to enable us to determine that sufÏcient audit evidence had been obtained as a basis for our opinion on the Group as a whole. P O O R R T The Group audit team continued to follow a programme of planned visits that has been designed to ensure that the Senior Statutory Auditor or his designate T visits full scope component audited by the EY global network firm each year. During the current year’s audit cycle, visits were undertaken by the primary audit G team to the component team in China and these visits continued to be conducted virtually in line with prior periods. These sessions involved meeting with our G O O VE local component team to discuss and direct their audit approach, understanding the significant audit findings in response to the key audit matters and VE R reviewing key audit working papers. The primary team interacted regularly with the component team where appropriate during various stages of the audit, R NAN reviewed relevant working papers and were responsible for the scope and direction of the audit process. This, together with the additional procedures NAN performed at Group level, gave us appropriate evidence for our opinion on the Group financial statements. C C E CLIMATE CHANGE E Stakeholders are increasingly interested in how climate change will impact Aston Martin Lagonda Global Holdings plc. The Group has determined that the F F I most significant future impacts from climate change on its operations will be from the transition to EV (‘Electric vehicle’) powertrains, managing the financial I NAN impact of increasing carbon related costs in response to changes in legislation and managing the brand/reputational impact of continuing to sell ICE (‘Internal NAN C combustion engine’) powered vehicles in the short to medium term. These are explained on pages 58-63 in the required Task Force On Climate Related C IAL Financial Disclosures and on pages 64-69 in the principal risks and uncertainties. They have also explained their climate commitments on pages 44-49. All of IAL S S these disclosures form part of the “Other information,” rather than the audited financial statements. Our procedures on these unaudited disclosures therefore T T A consisted solely of considering whether they are materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or A T T E otherwise appear to be materially misstated, in line with our responsibilities on “Other information”. E M M E E N N T In planning and performing our audit we assessed the potential impacts of climate change on the Group’s business and any consequential material impact on T S S its financial statements. F F U The Group has explained in Note 1 how they have reflected the impact of climate change in their financial statements including how this aligns with their U R R T commitment to the aspirations of the Paris Agreement to achieve net zero emissions by 2050. Significant judgements or estimates relating to climate change T H H E have been factored into the Directors impairment assessments of the carrying value of capitalised development cost intangible assets, parent company E R R INF investment impairment assessment and recoverability of deferred tax assets in the notes to the financial statements. These considerations did not have a INF material impact on the financial reporting judgements and estimates, consistent with the assessment that climate change is not expected to have a significant OR impact on the Group’s going concern assessment to 30 June 2025 nor the viability of the Group over the next five years. OR M M A A T Our audit effort, in considering the impact of climate change on the financial statements, was focused on evaluating management’s assessment of the impact T I I ON ON of climate risk, both physical and transition, managements climate commitments and the effects of material climate risks disclosed on pages 61-62. We focused on whether these have been appropriately reflected in asset values where these are impacted by future cash flows, being the impairment testing of capitalised development costs, impairment of parent company investments and deferred tax asset recoverability and associated sensitivity disclosures (see notes 9 and 13 in the group financial statements and note 3 in the parent company financial statements) following the requirements of UK adopted international accounting standards for the group and United Kingdom Accounting Standards, including FRS 101 “Reduced Disclosure Framework” (United Kingdom Generally Accepted Accounting Practice) for the parent company. As part of this evaluation, we performed our own risk assessment, supported by our climate change internal specialists, to determine the risks of material misstatement in the financial statements from climate change which needed to be considered in our audit. We also challenged the Directors’ considerations of climate change risks in their assessment of going concern and viability and associated disclosures. Where considerations of climate change were relevant to our assessment of going concern, these are described above. Based on our work we have considered the impact of climate change on the financial statements to impact certain key audit matters. Details of our procedures and findings are included in our explanation of key audit matters below. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 135