A network of small London accounting firms audited Market Financial Solutions' sprawling property lending empire before its collapse threatened billions in losses. Market Financial Solutions, owned by founder Paresh Raja, owed more than £2bn to creditors including Barclays and Apollo Global Management when it entered insolvency last week.

Berkeley Finch, a north London firm with just 11 employees, signed off MFS's 2024 accounts for £72,375. The firm shared office space with a children's book publisher and had only one chartered accountant on staff. Silver Levene, later acquired by top-20 firm Xeinadin, audited Raja's Amber Bridging and Zircon Bridging, which filed creditor claims against MFS.

Multiple small firms including Sterling Young and FW Smith Riches audited different entities within Raja's lending empire, raising questions about due diligence by major financial institutions that funded the loans. Industry auditors say the patchwork of small firms rather than a single consolidated audit by a major firm should have raised red flags about the group's true financial position.