S S TR Performance materiality TR A The application of materiality at the individual account or balance level. It is set at an amount to reduce to an appropriately low level the probability that the A TE aggregate of uncorrected and undetected misstatements exceeds materiality. TE G G I I C C R On the basis of our risk assessments, together with our assessment of the Group’s overall control environment, our judgement was that performance R E E P materiality was 50% (2022: 50%) of our planning materiality, namely £3.75m (2022: £2.4m). We have set performance materiality at this percentage due to P O O R the level of audit adjustments identified in the prior year. R T T Audit work at component locations for the purpose of obtaining audit coverage over significant financial statement accounts is undertaken based on a G percentage of total performance materiality. The performance materiality set for each component is based on the relative scale and risk of the component G O to the Group as a whole and our assessment of the risk of misstatement at that component. In the current year, the range of performance materiality allocated O VE VE R to components was £0.75m to £3.7m (2022: £0.47m to £2.4m). R NAN NAN Reporting threshold C C E An amount below which identified misstatements are considered as being clearly trivial. E We agreed with the Audit Committee that we would report to them all uncorrected audit differences in excess of £0.38m (2022: £0.24m), which is set at 5% F F I of planning materiality, as well as differences below that threshold that, in our view, warranted reporting on qualitative grounds. I NAN NAN C We evaluate any uncorrected misstatements against both the quantitative measures of materiality discussed above and in light of other relevant qualitative C IAL considerations in forming our opinion. IAL S S T T A OTHER INFORMATION A T T E The other information comprises the information included in the annual report set out on pages 1 to 208 other than the financial statements and our auditor’s E M M E report thereon. The directors are responsible for the other information contained within the annual report. E N N T T S S Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in this report, we do not express any form of assurance conclusion thereon. F F U U R R T Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial T H H E statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies E R R INF or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. INF If, based on the work we have performed, we conclude that there is a material misstatement of the other information, we are required to report that fact. OR OR M We have nothing to report in this regard. M A A T T I I ON OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 ON In our opinion, the part of the directors’ remuneration report to be audited has been properly prepared in accordance with the Companies Act 2006. In our opinion, based on the work undertaken in the course of the audit: – the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and – the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: – adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or – the parent company financial statements and the part of the Directors’ Remuneration Report to be audited are not in agreement with the accounting records and returns; or – certain disclosures of directors’ remuneration specified by law are not made; or – we have not received all the information and explanations we require for our audit. ASTON MARTIN LAGONDA ANNUAL REPORT AND ACCOUNTS 2023 139