Statutory Audit Services for FCA-Regulated Firms
Independent financial statement audits for UK financial services businesses
FCA regulation adds complexity to financial reporting. Your audit requirements depend on your legal structure, size, regulatory classification and group relationships.
Reflex Accounting clarifies your audit obligations, plans the evidence required and audits your annual accounts. You receive an independent auditor’s report and clear findings to support your board’s decisions.
5.0 Google Rating
UK businesses trust us with their finances
Dedicated Auditors
Real auditors. Real tax expertise
Risk-Based Planning
Shaped around your business model and financial reporting risks
Clear Responsibilities
Understand the scope, evidence and management responsibilities.
FCA-Regulated Businesses We Support?
Each firm’s obligations are different. Begin with your precise legal and regulatory position, rather than a broad label such as “fintech”, “adviser” or “investment manager”
Investment & Wealth Managers
Independent financial statement audits shaped around management fees, performance-related income, investment balances and the risks within your business model.
Stockbrokers & Investment Platforms
Risk-based audit planning for securities businesses, trading firms and platforms, considering commissions, settlement balances and connected financial systems.
UCITS & Other Fund Managers
Financial statement audits scoped to the relevant management company. The management company’s audit is distinct from an audit of the funds it manages.
Payment & E-Money Businesses
A careful assessment of your legal classification and financial reporting obligations, with statutory accounts and separate safeguarding engagements clearly distinguished.
Advisers, Mortgage & Credit Firms
Audit requirement assessments and financial statement audits reflecting your size, activities, group circumstances and applicable statutory exclusions.
Statutory Audit Services for FCA-Regulated Firms
From confirming your audit requirement to issuing the auditor’s report, Reflex Accounting helps your team prepare evidence, address reporting issues and plan for applicable deadlines.
Audit Requirement & Exemption Assessment
Reflex Accounting reviews your financial figures, statutory classification, group structure and members’ audit requests to explain whether an audit is required. Changes in permissions, ownership or activities are considered so directors can make an informed exemption decision.
Independent Financial Statement Audit
Obtain independent assurance over your annual accounts through a risk-based audit. The objective is reasonable, not absolute, assurance that the financial statements are free from material misstatement due to fraud or error.
Revenue & Balance Sheet Testing
Testing is tailored to material transactions and balances: management fees and commissions; cash, investments and receivables; accruals and provisions; related-party transactions; and significant estimates and disclosures.
Financial Reporting Controls
The audit considers controls relevant to financial reporting, including reconciliations, journal approvals, access permissions and data flows. Significant deficiencies identified are communicated to those charged with governance. This is not a separate opinion on every control.
Going Concern & Financial Resources
The audit considers management’s going concern assessment and relevant evidence, which may include forecasts, funding arrangements and regulatory correspondence. Separate assurance over capital calculations or regulatory returns must be specifically agreed.
Audit Reporting & Communication
You receive an independent auditor’s report, a summary of significant findings and proposed adjustments, and written communication of significant control deficiencies identified, with practical recommendations. Applicable statutory reporting duties also apply.
Request a quote or ask for advice
We work with a wide range of businesses on a national level and can give you the friendly and expert accounting advice you need.
CLIENT REVIEWS
Hear out from our clients
We have 50+ 5-star reviews on Google, which is what makes us different.
Lorna Meerkat
Ahmad Tirmizey has conducted our audits for Wkc Group Limited in the UK for the past two years and we have been extremely satisfied with his deliverables, professionalism, friendly personality and overall service. He consistently met all deadlines. Highly recommended.
Shoaib Bux
Ahmad and his team provided a detailed, professional audit for Sukuk plc, clearly demonstrating their expertise & remained very approachable throughout.
Nik Dewar
Reflex Accounting have been an invaluable partner in helping my start-up succeed. Their advice goes beyond accounting, offering clear strategies and practical guidance tailored to small business growth. Professional, proactive, and highly supportive. I would recommend them to any entrepreneur looking for more than just number-crunching.
Audit Planning Beyond Year-End
Identify financial reporting issues before your final accounts and reporting timetable become urgent. Clear evidence and early discussion help keep the engagement focused.
Financial Reporting & Accounting Judgements
Complex fee arrangements, financial instruments, provisions and related-party transactions can require careful analysis. Early discussion helps management prepare its accounting assessments and supporting evidence before completion. Management remains responsible for its accounting policies and financial statements.
Controls, Systems & Audit Evidence
Growing firms often process information across platforms, outsourced providers and accounting systems. Planning identifies the records, reconciliations and explanations needed to support material figures. Responsibility for designing and operating controls remains with your business.
Board Reporting & Audit Readiness
Allow time for information gathering, fieldwork, outstanding queries, management review and board approval. Confirm the earliest applicable reporting deadline rather than assuming the Companies House deadline also applies to the FCA.
Why Choose Reflex Accounting for Your FCA-Regulated Firm’s Statutory Audit?
Reflex Accounting agrees your audit scope, reporting framework, evidence requirements and timetable upfront. Significant findings are explained clearly so directors understand their implications, while responsibility for any additional reports and submissions is agreed at the outset.
- An agreed scope and information request list
- Planning proportionate to your firm’s financial reporting risks
- Clear communication with finance teams and directors
- Timely discussion of significant audit findings
- Independence throughout the engagement
Common Audit Challenges
We Help You Navigate
Unsure Whether an Audit Applies?
Being below the headline size thresholds is not enough where a statutory exclusion applies. Establish the position before approving unaudited accounts.
Facing a Tight Reporting Deadline?
Reflex Accounting agrees milestones around your earliest applicable deadline, helping your team prioritise evidence, resolve queries and plan board approval.
Arranging Your First Audit?
Reflex Accounting provides a tailored evidence checklist and discusses opening balances and significant judgements early, helping your team prepare.
Changing Permissions or Ownership?
An acquisition, restructuring or change in status can affect your assessment. Review the position across the reporting period.
Managing Several Audit Requirements?
Coordinate financial statement, CASS and safeguarding work without treating their different reports and conclusions as interchangeable.
FAQs
Does every FCA-regulated firm need a statutory audit?
No. The answer depends on legal form, size, activities, statutory classification and group circumstances. Specified categories including banking companies, e-money issuers, MiFID investment firms and UCITS management companies cannot rely on the small companies audit exemption merely because their figures are low.
What are the small company thresholds?
For financial years beginning on or after 6 April 2025, the size test generally requires at least two of: turnover no more than £15 million; balance sheet total no more than £7.5 million; and no more than 50 employees on average. Meeting the figures does not override exclusions, group restrictions or members’ rights. First-year, subsequent-year and transitional rules must also be considered.
Does not holding client money remove the audit requirement?
No. Statutory audit requirements are not determined solely by whether a firm holds client money. A financial statement audit may still be required because of the firm’s statutory classification. Any separate client assets reporting obligation needs its own assessment.
Is a statutory audit the same as a CASS or safeguarding audit?
No. A statutory audit addresses the financial statements. A CASS client assets report or safeguarding audit addresses a different set of regulatory requirements. The FCA’s supplementary safeguarding regime took effect on 7 May 2026; its audit requirements must be considered separately.
When must audited accounts reach the FCA?
Many firms within SUP 16.7A must submit annual reports and accounts within 80 business days of their accounting reference date, but exceptions apply. Where applicable, annual accounts are submitted using FIN-A through RegData. Confirm your precise reporting category and schedule.
Can Reflex Accounting help with changing auditors?
Yes. Reflex Accounting reviews your reporting deadlines and coordinates professional clearance with the outgoing auditor, subject to independence and engagement acceptance checks. Early appointment helps plan opening-balance work and the handover.