Audit Committee report continued
Related party transactions and other fees approved by the Committee Refer to Note 29 for related party transactions during the year. Fair, balanced and understandable At the request of the Board, the Committee considered whether the 2025 Annual Report and Accounts, when taken as a whole, was fair, balanced and understandable (FBU) and whether it provided the necessary information for shareholders to assess NCC Group’s position and performance, business model and strategy. The reviews outlined in the diagram below include reviews of all material matters, as reported elsewhere in this Annual Report and Accounts, and reviews of the balance of good and bad news and ensure the Annual Report and Accounts correctly reflects: • The Group’s position and performance as described on pages 6 and 7 and 40 to 57 • The Group’s business model as described on pages 8 and 9 • The Group’s strategy as described on pages 12 and 13
The independent reviewers were not major contributors to the Annual Report and Accounts but, at the same time, as members of the Executive Committee or other senior colleagues, are deemed to be sufficiently well informed on the Group’s activities to be able to give appropriate feedback on the FBU criteria. They undertake a qualitative review of disclosures and internal consistency throughout the Annual Report and Accounts. The Directors’ statement on an FBU Annual Report and Accounts is set out on page 98.
Lynn Fordham Chair, Audit Committee 11 December 2025
1 Financial information
4 Audit Committee Chair
2 Narrative disclosures
3 Independent reviewers
Fair, balanced and understandable The following process was followed by the Committee in making its assessment:
1. Financial information • Prepared by individual business units • Consolidated by Group finance team • Reviewed by SVP Group Finance and CFO 2. Narrative disclosures • Prepared by Group finance team • Reviewed by SVP Group Finance and CFO • Various reports prepared by Committee Chairs, CEO and CFO
3. Independent reviewers • Senior members of the Executive Committee, Global Leadership Team and/or other senior colleagues • Those who have not been major contributors 4. Audit Committee Chair
• Review of detailed verification documents • Review of findings and observations from independent reviewers
NCC Group plc — Annual report and accounts for the year ended 30 September 2025 76
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