Annual report and accounts 2023 - Flipbook - Page 136
A.G. BARR p.l.c. Annual Report and Accounts 2023
Independent Auditor’s Report to the members of A.G. BARR p.l.c. continued
7.
An overview of the scope of our audit continued
7.2. Our consideration of the control environment
With the involvement of our IT specialist we obtained an understanding of the relevant IT environment and tested relevant general IT controls. We obtained an understanding
of the processes and relevant controls over the key business cycles, being the revenue, brand support accrual business process and the financial reporting cycle. We tested
and took a controls reliance approach on the relevant controls for certain components within the revenue and brand support accrual business process cycles.
7.3. Our consideration of climate-related risks
In planning our audit, we have considered the potential impact of climate change on the Group’s business and its financial statements.
The Group has assessed the risk and opportunities relevant to climate change and has elevated this risk to a principal risk across the Group. This risk has also been considered
and embedded into the businesses as explained in the Strategic Report on pages 62 to 68.
As a part of our audit, we have obtained management’s climate-related risk assessment and held discussions with those charged with governance to understand the
process of identifying climate-related risks, the determination of mitigating actions and to evaluate the impact on the Group’s financial statements. While management has
acknowledged that the transition and physical risks posed by climate change have the potential to impact the medium to long term success of the business, they have
assessed that there is no material impact arising from climate change on the judgements and estimates made in the financial statements as at 29 January 2023 as explained
in note 1 on page 154.
We performed our own qualitative risk assessment of the potential impact of climate change on the Group’s financial statements. Our procedures include evaluating the
appropriateness of disclosures included in note 1 to the financial statements and reading disclosures included in the Strategic Report to consider whether they are materially
consistent with the financial statements and our knowledge obtained in the audit.
8.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are
responsible for the other information contained within the annual report.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form
of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.
If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required
to report that fact.
We have nothing to report in this regard.
9.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they
give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the group’s and the parent company’s ability to continue as a going concern, disclosing as
applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company
or to cease operations, or have no realistic alternative but to do so.
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