Deloitte Jersey’s Debt Fund audit team, led by Marc Cleeve, scooped the Best Audit Service Award at the annual Alt Credit Fund Intelligence European Awards, which took place in London on Wednesday night.

The awards recognise the service providers, credit hedge funds, CLO and private debt funds which are outperforming their competitors and leading the way in Europe.

The competition was strong, with finalists including PwC, KPMG and EY.

The judging process is rigorous and thorough, with a diverse panel of leading industry experts comprising hedge fund COOs, CFOs, CCOs, GCs, placement agents, analysts and CTOs.

As part of the judging for the award, the Deloitte team were assessed on how they helped credit funds deal with challenges this year, why and how they stood out from the crowd in the debt sector as well as their service innovations and developments over the past year.

Deloitte’s work in the debt sector in leveraging heavily Alternative Delivery Models, technology and the rollout of the Credit Centre of Excellence to galvanise their work around loan loss provisioning was a key part of their application for the award. Client testimonials were also taken into consideration by the judges.

The Deloitte team was represented on the night by Partner Theo Brennand, Director Marc Cleeve and Manager Manik Ahmed Memon.

Speaking of the award win, Deloitte’s Debt Sector leader for the Channel Islands Marc Cleeve said “To be recognised with such a prestigious accolade is extremely rewarding. Deloitte in the Channel Islands has a fantastic breadth and quality of audit clients in the Debt Sector.

“It is fantastic to be celebrated for providing great service to our clients and remaining at the forefront of the sector.”