Therefore, having fully considered the effectiveness, independence and objectivity of the external auditor and the reports it has produced in the current financial year, the Committee has concluded that it is appropriate to recommend to the Board the reappointment of KPMG LLP as the Group’s external auditor for the next financial year. Related party transactions and other fees approved by the Committee Refer to Note 32 for related party transactions in the year. Fair, balanced and understandable At the request of the Board, the Committee considered whether the 2022 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 opposite 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 8 to 11 and 56 to 63 • The Group’s business model as described on pages 18 and 19 • The Group’s strategy as described on pages 28 to 35 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 a review of internal consistency throughout the Annual Report and Accounts. The Directors’ statement on a fair, balanced and understandable Annual Report and Accounts is set out on page 133.
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 Group Financial Controller and CFO 2. Narrative disclosures • Prepared by Group finance team • Reviewed by Group Financial Controller and CFO • Various reports prepared by Committee Chairs, CEO and CFO 3. Independent reviewers • Senior members of the Executive Committee or other senior colleagues • Those who have not been major contributors 4. Audit Committee Chair
Chris Batterham Chair, Audit Committee 6 September 2022
• Review of detailed verification documents • Review of findings and observations from independent reviewers
NCC Group plc — Annual report and accounts for the year ended 31 May 2022
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