Independent auditor’s report to the members of NCC Group plc
1 Our opinion is unmodified
We were first appointed as auditor by the shareholders on 1 November 2013. The period of total uninterrupted engagement is for the nine financial years ended 31 May 2022. We have fulfilled our ethical responsibilities under, and we remain independent of the Group in accordance with, UK ethical requirements including the FRC Ethical Standard as applied to listed public interest entities. No non-audit services prohibited by that standard were provided.
We have audited the financial statements of NCC Group Plc (“the Company”) for the year ended 31 May 2022 which comprise the consolidated income statement, consolidated statement of comprehensive income/(loss), consolidated balance sheet, consolidated cash flow statement, consolidated statement of changes in equity, company balance sheet, company cash flow statement, company statement of changes in equity, and the related notes, including the accounting policies in note 1. In our opinion: • the financial statements give a true and fair view of the state of the Group’s and of the parent Company’s affairs as at 31 May 2022 and of the Group’s profit for the year then ended; • the Group financial statements have been properly prepared in accordance with UK-adopted international accounting standards; • the parent Company financial statements have been properly prepared in accordance with UK-adopted international accounting standards and as applied in accordance with the provisions of the Companies Act 2006; and • the financial statements have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities are described below. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion. Our audit opinion is consistent with our report to the audit committee.
Overview Materiality Group financial statements as a whole
£1.4m (2021: £1.2m) 4.5% (2021: 4.5%) of normalised Group profit before tax 79% (2021: 87%) of the total profit and losses that make up Group profit before tax
Coverage
Key audit matters
vs 2021
Recurring risks
Recoverability of goodwill in respect of the EU Assurance and IPM Software Resilience (IPM) cash generating units (CGUs) Assurance revenue recognition in the cut off period Recoverability of parent company investments and intercompany receivables New: Valuation of separately identifiable intangible assets recognised as part of the
Event driven
New
NCC Group Software Resilience (NA) (‘IPM’) acquisition
NCC Group plc — Annual report and accounts for the year ended 31 May 2022
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