Financial Statements 2023

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In total the scope of our audit procedures covered 95% of total consolidated revenue, 93% of total consolidated assets and 100% of total consolidated EBIT and all adjustments to EBIT. For the remaining entities making up 5% of revenues and 7% of total assets, we performed, amongst others, analytical procedures to corroborate our assessment that the financial statements are free from material misstatements. We executed an audit plan that includes participation in risk assessment and planning discussions, setting the direction of the group audit work (including instructions to the divisional and entity auditors), reviewing and discussing the planned audit approach, obtaining an understanding of the financial reporting process and performing procedures on the group consolidation, participating in the evaluation of key accounting topics, reviewing the financial statements and participating in meetings with the management of the Company and its divisions. In our audit instructions, we also included targeted audit procedures regarding the risks of material misstatement associated with the key programs as well as targeted audit procedures regarding the risk of material misstatement due to non-compliance with laws and regulations. We furthermore executed file reviews at division level. By performing the procedures mentioned above at components of the group, together with additional procedures at group level, we have been able to obtain sufficient and appropriate audit evidence about the group’s financial information to provide an opinion about the consolidated financial statements. Teaming and use of specialists We ensured that the audit teams both at group level, division level and at in-scope component level included the appropriate skills and competences which are needed for the audit of the financial statements of this listed company in the aerospace industry. Our focus on climate risks and the energy transition Climate change and energy transition are high on the public agenda. Issues such as CO 2 reduction (potentially) impact financial reporting, as these issues entail risks for the business operation, the valuation of assets (stranded assets) and provisions or the sustainability of the business model and access to financial markets of companies with a larger CO 2 footprint. The Company reported in Section 4.6.4 of the report of the board of directors how they addressed the climate related risks. In Section 6.1.2 of the report of the board of directors, the Company discloses its assessment, implementation plans and ambitions in connection to climate-related risks and the effects of energy transition. As part of our audit of the financial statements, we evaluated the extent to which climate-related risks and the possible effects of the energy transition and the Company’s implementation plans and ambitions in this regard, are taken into account in estimates and significant assumptions, as well as in the design of controls related to relevant estimates and assumptions. Furthermore, we read the report of the board of directors and considered whether there is any material inconsistency between the non-financial information and the financial statements. We involved several EY specialists to assist the audit team, including specialists from our tax, actuarial, treasury, valuation and forensic departments.

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Airbus

Financial Statements 2023