• Banking and Retail Finance

    Specialist expertise and understanding

Banking and Retail Finance

In challenging times, where soundbites dominate the headlines, it is often difficult to discern real risk from political froth. The banking industry has been forced to address key weaknesses and answer questions concerning liquidity, risk management and lending capability as well as how it treats its customers. Unprecedented changes have resulted in demands for greater transparency and created massive uncertainties in the UK and global markets. For many institutions, it has been a question of survival as well as building confidence with customers and planning ahead for the new challenges.

BDO has one of the largest banking audit practices outside of the Big Four and also provides non-statutory audit services to a wide range of clients from the UK's leading financial institutions and global banks, to smaller regional banks and new entrants including challenger banks. We are experienced in advising on the regulatory, accounting, valuation, systems and control issues facing clients within the retail and wholesale banking industries, as well as other businesses in the retail finance arena such as consumer creditors, card issuers, e-money services providers, peer-to-peer lenders and platforms, debt management companies.

Our expertise includes:

  • Audit and tax assurance
  • Regulatory advisory services
  • Advice on obtaining regulatory approval for changes of control of UK banks
  • Tax structuring advice
  • Banking licence applications
  • Due diligence on foreign–owned banks
  • Regulator commissioned reports on UK banks and s.166 Skilled Person reports
  • Fully outsourced and co-sourced internal audit services
  • Systems and control manuals
  • Post implementation systems reviews
  • Valuations of financial investments

We have strong IFRS accounting skills and advise clients on all aspects of financial instrument standards.

Our experience of working with leading names including HM Treasury and the FCA highlights our credibility. We are also leading the way as the first appointed liquidators under the Banking Act 2009.

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