KPMG Faces Investigation Over 2022 Audit of Gambling Giant Entain

The Financial Reporting Council is probing KPMG’s audit practices following years of scrutiny and prior penalties.

The Financial Reporting Council (FRC) has launched an investigation into KPMG’s audit of Entain’s 2022 financial accounts.
Entain, a major gambling company owning brands like Ladbrokes and Coral, declined to comment on the investigation.
KPMG, which has been Entain’s auditor since 2018, stated it will fully cooperate with the inquiry.
The investigation follows a series of controversies for both KPMG, including a record £21 million fine in 2023, and Entain, which settled bribery allegations with a £615 million payment last year.
Entain’s shares fell nearly 2% on January 20, reflecting investor concerns about the ongoing regulatory scrutiny.