UK Accounting Watchdog Probes Conviviality's Financial Audit
Britain's accounting watchdog is investigating KPMG's audit of drinks firm Conviviality's financial statements, weeks after highlighting an "unacceptable deterioration" in the auditor's work with top British firms.
KPMG denied any shortcomings in its audit of Conviviality, which entered administration in April. The Financial Reporting Council (FRC) is probing Conviviality's financial statements for the year ended April 2017.
"We believe we conducted our audit appropriately and will co-operate fully with the investigation," a spokeswoman for KPMG said in a statement emailed to Reuters on Tuesday.
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