Britain’s accounting watchdog has started an investigation into the audit conducted by KPMG of the financials of bookmaker Entain for the year ended December 2022, it said on Monday.
The Financial Reporting Council (FRC) said its investigation would be conducted by its enforcement division under the Audit Enforcement Procedure.
“We will cooperate fully with the FRC to conclude this matter as quickly as possible,” a KPMG UK spokesperson said in an emailed comment. Entain declined to comment.
The FRC’s probe comes after KPMG has suffered a series of hits to its reputation in recent years following several scandals including its auditing of Carillion, the British builder that imploded in 2018.
