
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.
The probe will be conducted by the FRC’s enforcement division under the Audit Enforcement Procedure.
Entain, which owns betting brands such as Ladbrokes and Coral, has not issued any comments regarding the investigation.
The company agreed to pay a £585m ($711.65m) penalty in 2023 under a deferred prosecution agreement with the UK’s Crown Prosecution Service for alleged bribery offences in its former Turkish unit.
Entain’s agreement to the penalty came after a multi-year investigation by Britain’s tax authority, HM Revenue and Customs that began in 2019.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThis inquiry adds to the pressure KPMG faces following a series of reputational challenges in recent years.
KPMG’s auditing practices have been under scrutiny, particularly after the collapse of Carillion, the British construction company, in 2018. The firm was fined a record £21m in 2023 for its failure in auditing Carillion.
The Carillion debacle, along with the earlier collapse of retailer BHS, triggered three government-backed reviews into auditing markets and standards.
Meanwhile, in November 2024, KPMG made headlines for the announcement of its $100m investment in Google Cloud partnership. This is expected to enhance its AI, data analytics, and cybersecurity services, potentially contributing an additional $1bn in growth. Additionally, KPMG Slovakia was in the news for strengthening its leadership in the Central and Eastern Europe region by appointing five new equity partners, with effect from 1 October 2024.