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Watchdog Scrutinizes KPMG’s Audit of Entain
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Subscribe21 JAN 2025 / ACCOUNTING & TAXES
The Financial Reporting Council (FRC) is investigating accounting firm, KPMG, over its audit of the 2022 financial statements of Entain, a company that owns betting giants Ladbrokes and Coral. KPMG, which has faced numerous scandals and fines, has had its reputation and trustworthiness questioned, while Entain has struggled with controversies such as a $755 million settlement over allegations of bribery and a significant fall in share price.
In the world of auditing, they say, “Reputation is like glass—once shattered, it’s hard to piece back together.” For KPMG, one of the Big Four accounting firms, this saying has never rung truer. The Financial Reporting Council (FRC), the UK’s accounting w...
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