The Financial Reporting Council (FRC), UK’s accounting watchdog, has launched a probe into KPMG’s audit of gambling company Entain's financial statements for the year ended 31 December 2022. KPMG, serving as Entain's group external auditor, completed its sixth consecutive audit for the company in 2023, as reported in Entain's annual report.

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

Accountancy giant KPMG is being investigated by the industry watchdog over its auditing of Ladbrokes and Coral betting giant Entain. The Financial Reporting Council (FRC) said it had launched an investigation into KPMG’s work on Entain’s 2022 accounts.