The accounting firm KPMG is under investigation by the sector’s UK regulator over its audit of the 2022 accounts of the gambling company Entain.
The Financial Reporting Council (FRC) said its enforcement division would be examining the conduct of the “big four” accounting firm, without saying what the investigation related to.
“We will cooperate fully with the FRC to conclude this matter as quickly as possible,” a KPMG UK spokesperson said.
Entain, which owns brands including Ladbrokes, Coral and Sportingbet, declined to comment on the investigation.
It also did not comment on whether the investigation into KPMG relates to a settlement it reached with HM Revenue and Customs in 2023 over alleged bribery in a Turkish business it previously owned.
Shares in the company fell by nearly 2% on Monday morning, against a rising FTSE 100, amid uncertainty over what the investigation into KPMG relates to. That fall made Entain the worst-performing stock on the blue-chip index.
https://www.theguardian.com/business/2025/jan/20/kpmg-investigation-entain-frc