Compliance Audit
Independent compliance audit and gap analysis against FCA and EU regulatory requirements.
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Tell us the business, the markets and your timing. Every enquiry is answered the same business day, with a written proposal: the licence, the requirements, the cost and the timeline.
Your enquiry
What we do
Regular compliance audits are essential for maintaining regulatory good standing and identifying areas for improvement before they become regulatory issues. Our compliance audit service provides independent, thorough assessments of your compliance arrangements.
We conduct full-scope compliance audits, thematic reviews of specific areas, pre-inspection preparation reviews, and post-enforcement remediation assessments. Our auditors have direct regulatory experience and understand what regulators look for during supervisory visits.
Every audit results in a clear, actionable report with prioritised recommendations. We work with you to address findings and strengthen your compliance arrangements.
Scoping
We define the audit scope, methodology, and timeline based on your regulatory obligations.
Fieldwork
Detailed testing including document review, staff interviews, and sample testing.
Reporting
Comprehensive audit report with findings, risk ratings, and prioritised recommendations.
Remediation Support
Support implementing recommendations and tracking progress to closure.
What's Included
Audit Report
Detailed report with findings, risk ratings, and prioritised remediation recommendations.
Gap Analysis Matrix
Comprehensive mapping of your arrangements against regulatory requirements.
Remediation Action Plan
Structured plan with timelines and responsibilities for addressing findings.
Board Summary
Executive summary suitable for board presentation and regulatory submission.
Testing Workpapers
Detailed testing records supporting all audit findings and conclusions.
Follow-Up Review
Post-remediation review to verify findings have been adequately addressed.
Who this service is for
Firm types
- - All FCA-regulated firms
- - EU-authorised payment institutions
- - EMIs and crypto firms
- - Firms with agent networks
Situations & Triggers
- - Annual compliance review obligations
- - Preparing for regulatory inspections
- - Post-enforcement remediation verification
- - Pre-acquisition due diligence
Why firms choose Regulatory Counsel
200+ licence and registration engagements
Applications taken through regulators in the United States, the United Kingdom, Europe, Canada, Australia, the Middle East and Asia.
Senior-led
The same senior practitioners run your engagement from the first assessment to the last regulator question.
Every regulated sector
Payment, e-money, money transmission, crypto, banking, lending, insurance, mortgage and investment firms.
In writing, the same day
Every enquiry is answered the same business day, and scope, timeline and fees are set out in writing before work begins.
Related insights
Compliance Audit for FCA-Regulated Firms: Planning, Scope & Best Practice
How FCA-regulated firms plan, scope, test and report a compliance audit, including the mandatory annual safeguarding audit for payment and e-money firms.
Common FCA Compliance Audit Findings and How to Remediate Them
The findings that recur in compliance audits of FCA-regulated firms, from AML and CASS 15 safeguarding to the Consumer Duty and complaints, and how to fix each one.
Outsourced Compliance Audit: When and How to Use External Providers
When an FCA-regulated firm should use an external compliance audit provider, the outsourcing rules that apply, how to select one and how to keep oversight.
Ready to get started?
Every enquiry is answered the same business day, with a written proposal.
Speak to a licensing expertFrequently asked questions
Most regulators expect independent compliance reviews at least annually. Firms with higher risk profiles may need more frequent reviews.
A full-scope audit covers governance and oversight, regulatory reporting, financial crime controls, customer due diligence, complaint handling, safeguarding, conduct of business, and other relevant areas.
Our audit team comprises senior regulatory professionals with direct experience at the FCA and other global regulators. All audits are led by a senior consultant.
We deliver a detailed report with recommendations. We then work with you to develop an action plan and support implementation of required changes.
Yes. We conduct pre-inspection reviews that simulate the regulatory inspection process, identifying areas that need attention.
The audit report is your confidential document. You may choose to share it with your regulator if required.
A typical full-scope audit takes 3 to 6 weeks from scoping to final report delivery, depending on the size and complexity of the firm.
Yes. We conduct compliance audits for firms regulated across all major jurisdictions including Lithuania, Ireland, Malta, Netherlands, and others.