Crowe
Background
Crowe is the ninth largest global accountancy firm in the world, employing over 42,000 people across 145 countries. The firm’s origins date back to 1915, when Ernest and Edmund Horwath – both Hungarian immigrants – founded Horwath and Horwath in New York. A practice which focused on the hospitality industry, but later expanded to include accounting, audit and tax offerings.
Eventually, in 1967, it merged with Laventhol, Krekstein Griffith and Co. to become Laventhol and Horwath. Meanwhile, in 1942 Crowe Chizek was established in South Bend, Indiana, by Fred P. Crowe Sr. and Cletus F. Chizek. Both men had previous experience in the sector, with Crowe serving as the St. Joseph County auditor for eight years. In addition, Chizek was head of the accounting department at the University of Notre Dame and also worked part-time in public accounting.
Following the death of Fred P. Crowe Sr. in 1952, Cletus F. Chizek reorganised the firm as Crowe, Chizek and Com. In 1989, Horwath and Horwath shortened its name to Horwath International and then in 1991, Crowe Chizek became a member of the network.
In 2009, Horwath International rebranded as Crowe Horwath International and then in June 2018, Crowe Horwath was renamed as ‘Crowe’ across their independent member firms globally. In the UK, the company is headed by Nigel Bostock.
Crowe offers a range of services to its clients. Namely, audit and assurance, consulting, business solutions, financial advice and tax. They also offer special services which include:
VAT and customs duty services: A service which helps clients understand their VAT obligations.
Employers advisory: A service which assists clients with their workforces.
Forensic services: Helps recover financial losses. Services include fraud investigation, cyber security protection and counter fraud advisory.
International desk: Helps clients deal with financial and commercial issues that often arise in emerging and fast-growing markets.
Financial planning: Provides clients with clarity and purpose with their finances. Services include retirement planning, investment solutions, pensions and business solutions.
Valuation: Offers clients support with businesses financial valuations, shareholder disputes, valuing businesses, asset accounting and financial reporting support – e.g. for purchase price allocation and impairment reviews matrimonial proceedings – valuation of assets.
Financials
For the year ending in March 2023, Crowe reported a 13% increase in revenues to £144m.
The group currently has over 1400 employees and 98 partners in the UK.
Recent Coverage
Crowe UK has been named Risk Consultancy of the year by InsuranceERM for the fifth time.
Overall, the judging panel were “impressed with the way Crowe UK has helped a wide range of clients transform their risk management”.
They also “praised the variety of client testimonials as part of the consultancy’s entry submission”.
Additionally, Crowe has been recognised for supporting industries and communities. For example, Crowe set up its sustainability risk function roundtable last year, recognising a trend for second line ESG specialists and supporting their development.
The group has also made raft of partner appointments to its leadership and forensic teams.