Independent Compliance Support
Auditing as a Service
Independent, structured compliance reviews that help directly authorised financial services firms assess their advice files, operational processes, oversight arrangements and governance practices.
Our reviews provide clear findings and practical recommendations, helping firms identify areas for improvement and strengthen their internal compliance frameworks.
The Service
Independent Reviews. Practical Insight.
Effective compliance oversight requires more than policies and procedures. Firms need confidence that their advice processes, governance arrangements and oversight activities are operating as intended.
Merchantry provides independent compliance reviews designed to help directly authorised firms evaluate existing practices, identify potential weaknesses and understand where improvements may be required.
Our approach focuses on clear reporting, proportionate observations and practical recommendations that firms can use to support their own compliance and governance responsibilities.
Areas of Review
Our Areas of Review
Advice File Reviews
Independent assessment of advice files, supporting documentation and relevant procedures to identify potential gaps, inconsistencies and areas for improvement.
Processes and Procedures
Review of operational processes, documented procedures and internal controls to assess their effectiveness and consistency.
Oversight Functions
Assessment of oversight arrangements, monitoring activities and internal accountability structures to identify potential weaknesses and improvement opportunities.
Governance
Review of governance arrangements, management information, reporting processes and documented responsibilities to support effective internal oversight.
Network Oversight
Independent review of network oversight arrangements, including relevant monitoring, supervision and governance processes.
Appointed Representative (AR) Oversight
Review of relevant AR oversight arrangements, including monitoring, supervision, documentation and governance responsibilities.
The availability and scope of each area of review depends on the firm’s requirements and the engagement agreed with the client. Reviews do not constitute an FCA inspection, regulatory approval, certification or endorsement.
Review Frequency
Reviews That Fit Your Operating Requirements
Different firms require different levels of independent review. Merchantry offers flexible review arrangements to support periodic assurance, ongoing monitoring and targeted compliance improvement.
Annual Reviews
A structured periodic assessment of agreed compliance and operational areas.
Six-Monthly Reviews
Regular independent assessments to help firms monitor progress and emerging issues.
Quarterly Reviews
More frequent reviews to support ongoing oversight and improvement.
Monthly Reviews
Regular independent monitoring for firms requiring closer review of selected activities or processes.
The scope and frequency of reviews are agreed according to the firm’s requirements. A particular review frequency does not automatically satisfy FCA requirements.
Findings & Recommendations
Clear Findings. Practical Recommendations.
Following each review, Merchantry provides a structured summary of the areas assessed, relevant observations, identified concerns and practical recommendations.
Our aim is to provide firms with clear, useful information that supports informed decision-making and continuous improvement.
Where appropriate, reviews may also help firms track progress against previously identified actions.
Clear Accountability
Independent Support. Clear Accountability.
Merchantry provides independent compliance support and review services. Merchantry is not the Financial Conduct Authority (FCA), and its reviews do not constitute FCA inspections, regulatory approval, certification or an endorsement of a firm’s compliance arrangements.
Each firm remains responsible for meeting its own regulatory obligations, maintaining appropriate governance and oversight, and determining and implementing any necessary remedial actions.
Other Core Services
Explore our other services.
Frequently Asked Questions
Frequently asked questions about Auditing as a Service.
Get in Touch
Strengthen Your Oversight with Independent Insight
Discuss your firm’s review requirements with Merchantry and explore an independent auditing arrangement tailored to your operations.