Who are Crowe?
Crowe is the ninth largest global accountancy firm in the world, employing over 42,000 people across 130 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.
What do they do?
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.
For the year ending in March 2020, Crowe reported a pre-tax profit of £23.5m, up from £19.6m the year before. In addition, the group saw its revenues increase from £93m up from £85.5m the year before.
In the news
In January 2021, Crowe announced the promotion of three new partners in its London and Kent branches. The group welcomed two new audit partners, John Charlton and Ryan Ketteringham who both joined the corporate business team in London.
In addition, Steven Edwards also joined the partnership under the firm’s recovery solutions arm in Kent.