Financial Services
Helping businesses succeed through robust assurance and relevant advice in a regulated and changing environment.
The financial services sector is a dynamic and complex landscape, encompassing everything from traditional banking and insurance to cutting-edge fintech and investment management.
With established groups, entrepreneurs and disruptors driving innovation in response to regulatory, risk and compliance changes, the financial service sector is in a constant state of evolution.
We are proud to be immersed in this evolving industry. Our multidisciplinary team provide expert accounting, advisory, and regulatory support to help financial institutions navigate change, manage risk, and unlock growth. We will give you practical advice and support to ensure that you have the correct controls in place and manage risks effectively to fulfil your strategy.
Who we work with
Our financial services team supports a broad spectrum of organisations - including traditional financial institutions such as banks, lenders, and investors; capital markets participants like insurers, brokers, and PE houses; as well as emerging digital finance and money service providers. We’re here to guide you through the evolving regulatory landscape and help you achieve your strategic goals.
Our specialist Pension Funds team, work with employers, Trustees and pensions administrators, helping them to develop robust risk management, internal controls and strategic assurance solutions which add value. We provide audit and advisory services to a wide range of schemes, many with £billions of assets under management, major pensions administrators and Master Trusts.
Our services
Our financial services sector team is comprised of individuals who work across our business, bringing together a range of specialist technicians, who working together, can create a package of support that is bespoke to the needs of your organisation.
Financial crime and anti-money laundering (AML) services
UK AML supervisors are actively fining businesses and sectors for poor procedures, keeping compliance in the headlines. Over the past year, they have imposed various sanctions, including fines, advice letters, reprimands, warnings, and conditions on firm authorisations.
At Crowe, we have been guiding clients through AML audits for over 12 years, offering comprehensive reviews, testing, and recommendations to ensure compliance with legislation and supervisor requirements.
CASS audits and safeguarding
The proper handling and safeguarding of Client money and assets for FCA regulated firms is of paramount importance. Depending on the type of firm, it may well need either a CASS audit or a safeguarding audit. Both of these reviews assess and report whether the firm:
- maintained systems adequate to enable it to comply with relevant rules throughout the period
- was in compliance with those rules as at the end of the period.
The types of firms that fall into the CASS or Safeguarding regime include:
- Investments firms
- Money service businesses and E-money providers
- firms operating a peer-to-peer lending platform
- Mortgage and General Insurance brokerages
- Debt management firms
- Claims management firms.
We provide CASS and safeguarding audit services to a wide variety of firms, as well as helping firms assess what systems and procedures they have in place to ensure client money and assets are appropriately ring-fenced.
Internal audit and risk management reviews
Our team empower you to deliver your strategic goals by working with you to evaluate:
- risk-based decision making
- consumer duty
- effectiveness of risk and compliance
- technology risk and digital trust.
Statutory audit and assurance
We deliver high quality audit and assurance services which are responsive to the needs of your organisation. Whether you’re looking for a full statutory audit, advice on Financial Reporting Standards or limited assurance work, our team are here to help.
Corporate tax, VAT and R&D
The tax landscape is everchanging and inefficient management can be costly to your organisation. We have experts that work across corporation tax, VAT and R&D and together their knowledge can ensure your business is structured optimally and you’re benefiting from any reliefs you are entitled to.
Forensic accounting and cyber security
Our Forensic Accounting and Cyber Security teams are experts in uncovering unknown gaps in your systems that could prove damaging to your reputation and your finances. We are here to help protect your business and safeguard your assets.
Find out more about our forensic and cyber security services:
Change and transformation support
Working in an evolving landscape means change and transformation are inevitable. Our team are more than consultants, they are partners, working with you to help your organisation flourish.
Technology resilience
Technology is the backbone of the financial services sector, but your greatest strength can also be your greatest weakness, if not managed effectively. Our technology team are solutions driven and can help you proactively assess how and where technological efficiencies can be gained.
We will help you create evolutions the go beyond technology and streamline business process and resilience.
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The Budget offers little for growth, as complex capital allowances, higher dividend tax, NI hikes, and wage rises add pressure.
How best to navigate the dynamic business landscape in UAE with an explanation of the difference between operating in the mainland and free zones.
The FCA has published PS25/12, advancing efforts to strengthen safeguarding for payments and e-money firms.
VAT case in favour of the taxpayer that lead generation services supplied to IFAs qualified for VAT exemption as financial intermediary services.
Monzo’s weak financial crime controls let users open accounts with fake addresses like Buckingham Palace and 10 Downing Street, triggering FCA fine.
Climate change raises complex questions, and Climate Scenario Analysis (CSA) is a vital tool to help businesses adapt and prepare.
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