THE UNITE GROUP PLC Annual Report and Accounts 2024 105 For the 2024 financial year, the significant risks identified were valuation of properties and management override. These focus areas were discussed at the Committee and it was agreed that they should be the principal areas of focus as they represent the areas with the greatest level of judgement and materially impact the overall performance of the Group. These risks are tracked throughout the year and we challenged the work done by the auditor to test management’s assumptions and estimates around these areas. We assessed the effectiveness of the audit process in addressing these matters through the reporting we receive from Deloitte at both the half-year and year-end and reports from management on how these risks are being addressed. The Committee was satisfied that there had been appropriate focus and challenge on the primary areas of audit risk and assessed the quality of the audit process to be good. During private meetings with the external auditor we discussed: • The auditor’s assessment of business and financial statement risks and management activity • The transparency and openness of interactions with management, confirmation that there has been no restriction in scope placed on them by management and the independence of its audit • How it has exercised professional scepticism. I also meet with the external lead audit partner outside the formal process. EXTERNAL AUDITOR Each year, the Committee considers the reappointment of the external auditor (including the rotation of the audit partner which is required every five years). We assess independence on an ongoing basis. Deloitte was appointed as the Group’s external auditor in 2015, following a tender process and this is the tenth year Deloitte has performed this role. We undertook an external audit tender in late 2023 with consideration of a change of auditor for the year ending 31 December 2025. Following the tender, the Committee, and the Board recommended Deloitte’s reappointment as auditor. Stephen Craig was the Deloitte audit partner for the 2024 audit, his fifth year of fulfilling that role. Under partner rotation rules, a different partner has been identified and has met with the Committee on several occasions, the new audit partner will be responsible for the 2025 audit. The Committee reviewed Deloitte’s audit work and determined that appropriate plans were in place to carry out an effective and high-quality audit. Deloitte confirmed to the Committee that it maintained appropriate internal safeguards to ensure its independence and objectivity. As part of the Committee’s assessment of the ongoing independence of the auditor, we receive details of any relationships between the Group and Deloitte that may have a bearing on their independence and confirmation that they are independent of the Group. The Committee also regularly considers when it next intends to complete a competitive tender process for the Company’s external audit. The Committee does not currently anticipate there will be a change of auditor before the 2026 audit cycle. The Committee confirms compliance with the provisions of the Statutory Audit Services for Large Companies Market Investigation (Mandatory Use of Competitive Tender Processes and Audit & Risk Committee Responsibilities) Order 2014. NON-AUDIT SERVICES To further safeguard the objectivity and independence of the external auditor from becoming compromised, the Committee has a formal policy governing the engagement of the external auditor to provide non-audit services. No material changes have been made to this policy during the year. This precludes Deloitte from providing certain services, such as valuation work or the provision of accounting services. For certain specific permitted services (such as reporting accountant activities and compliance work), the Audit & Risk Committee has pre-approved that Deloitte can be engaged by management, subject to the policies set out above, and subject to specified fee limits for individual engagements and fee limits for each type of specific service. For all other services, or those permitted services that exceed the specified fee limits, I as Chair, or in my absence, another member of the Committee, can pre- approve permitted services. During the year, Deloitte was appointed to undertake non-audit services. Fees for non-audit work performed by Deloitte for the year ended 31 December 2024 were £0.2 million (2023: £0.1 million). The non-audit fees related to the work undertaken by Deloitte LLP in its role as external auditor to the Group for the review of the half-year report and in establishing an Euro Medium Term Note programme. Further disclosure of the non-audit fees incurred during the year ended 31 December 2024 can be found in note 2.6 to the consolidated financial statements on page 171. The Committee was satisfied that both the work performed by Deloitte LLP, and the level of non-audit fees paid to it, were appropriate and did not raise any concerns in terms of Deloitte LLP’s independence as auditor to the Group. The Committee approved the fees for audit services for 2024 after a review of the level and nature of work to be performed. This included additional audit procedures required as a result of changes in the regulatory environment, and after being satisfied by Deloitte that the fees were appropriate for the scope of the work required. AUDIT & RISK COMMITTEE EVALUATION The Audit & Risk Committee’s activities formed part of the evaluation of Board effectiveness performed in the year. Details of this process can be found under Performance evaluation. Ross Paterson Chair – Audit & Risk Committee 25 February 2025