WIREX LIMITED
Recent Case Studies
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BACKGROUND
Wirex Holding and Wirex Ltd are leaders in the digital payments and cryptocurrency sector, pioneering solutions that enable seamless transactions in digital currencies. Wirex Limited, a UK‑based electronic money institution regulated by the Financial Conduct Authority (FCA), operates in the fast‑paced fintech space, managing high‑volume transactions across multiple jurisdictions.
As a regulated entity, Wirex must maintain timely, accurate financial reporting to ensure compliance, safeguard investor confidence, and support its commitment to innovation. Navigating the complexities of this environment required an experienced audit partner with deep sector knowledge.
THE CHALLENGE
Wirex’s primary objective was to strengthen fiscal practices, enhance compliance, and gain actionable insights to improve operational efficiency. The management team recognised the need for a trusted audit partner who could:
- Provide accurate financial oversight
- Offer clear, practical recommendations
- Ensure compliance with UK and international standards
- Support corporate tax obligations without disrupting day‑to‑day operations
After evaluating several options, Wirex appointed MMBA Accountants to leverage the expertise of our Big 4‑trained professionals.
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OUR ROLE
Audit of Annual Financial Statements
- Conducted a full year‑end audit in accordance with International Standards on Auditing (UK).
- All required deliverables — budgets, forecasts, and cash‑flow projections — were reviewed to support management’s going‑concern assessment.
- Assumed stability of Wirex’s operating and financial systems, enabling a focused, efficient audit approach.
- No significant audit issues were identified; the audit concluded with an unmodified opinion.
Corporate Tax Compliance
- Prepared annual corporation tax computations and CT600 returns in line with HMRC requirements.
- Produced supporting tax disclosures, including deferred tax calculations and detailed tax notes.
- Ensured all filings met statutory deadlines and reflected the latest applicable tax legislation.
- Any additional ad‑hoc tax queries outside the core scope were handled under separate agreement to maintain cost transparency.
Audit Approach & Client Engagement
- Professionalism & Precision
- Transparent Communication
- Actionable Insights
OUTCOME & IMPACT
- Delivered a clean audit opinion, reinforcing Wirex’s regulatory standing and credibility with key stakeholders.
- Ensured full corporate tax compliance, avoiding penalties and supporting accurate tax provisioning.
- Provided clear, well‑structured audit and tax outputs that could be readily integrated into shareholder and FCA reporting packs.
- Enhanced financial literacy within Wirex’s team through open communication.
- Established a trusted, ongoing relationship built on collaboration and results.
CLIENT TESTIMONIAL
“Appointing MMBA as our financial auditor was the right decision. Their professionalism and attention to detail stood out from the start. The process was seamless and efficient, thanks to their preparation and clear communication. MMBA didn’t just focus on compliance—they also provided valuable insights that will improve our financial practices. What impressed us most was their commitment to building a relationship. They made themselves available for questions and eased what could have been a stressful process. Choosing MMBA has been one of the best decisions we’ve made at Wirex.”
—Wirex Limited
Wirex Limited
