The UK auditing regulator said it was looking into KPMG LLP’s work on British gambling company Entain Plc’s accounts.

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.

KPMG being probed by accounting watchdog over Entain audit - The Financial Reporting Council said it had launched an investigation into KPMG’s work on Entain’s 2022 accounts.

The UK’s Financial Reporting Council (FRC) has issued a press notice informing of an investigation into KMPG over its auditing of Entain accounts.

The Financial Reporting Council (FRC) launched an investigation into KPMG on Monday, over its audit of Entain’s 2022 financial statements.

KPMG is being investigated by the UK's accounting watchdog over its audit of Entain, the owner of Ladbrokes. The Financial Reporting Council (FRC) said that the probe, announced on Monday, was in relation to the audit carried out by KPMG into the FTSE 100 group's accounts for the year ended December 31, 2022.

KPMG has been fined repeatedly in the UK for shortcomings in its auditing of companies such as Eddie Stobart Logistics, Revolution Bars, Rolls-Royce and BNY Mellon. It has been penalised by the FRC in 17 different cases since 2018 and paid far more in fines than its rivals.

The Financial Reporting Council (FRC) said on Monday that it commenced an investigation in relation to the audit conducted by KPMG of the consolidated financial statements of Entain for the year ended