KPMG investigated by industry watchdog over auditing of betting giant Entain Accountancy giant KPMG is being investigated by the industry watchdog over its auditing of Ladbrokes and Coral betting giant Entain.
It comes after Entain last year appointed a new chief executive, Gavin Isaacs, following the sudden departure of former boss Jette Nygaard-Andersen at the end of 2023 in the wake of a £615m settlement to resolve a probe into alleged bribery at a former Turkish subsidiary.
A KPMG spokesman said: “We will cooperate fully with the FRC to conclude this matter as quickly as possible.” KPMG has been Entain’s auditor since 2018.
The Crown Prosecution Service last October invited individual suspects to enter plea discussions involved in its investigation centred on Entain’s former Turkish subsidiary.
The Financial Reporting Council (FRC) said it had launched an investigation into KPMG’s work on Entain’s 2022 accounts.
