July 3, 2018 / 6:31 AM / 4 months ago

UK accounting watchdog probes Conviviality's financial statements

July 3 (Reuters) - Britain’s accounting watchdog said on Tuesday it began an investigation into the audit by global auditor KPMG of the financial statements of drinks firm Conviviality Plc, which entered administration in April.

The Financial Reporting Council (FRC), which is probing financial statements for the year ended April 2017, also said it was looking into the preparation and approval of Conviviality’s financial statements and other financial information by a member of the Institute of Chartered Accountants in England and Wales (ICAEW).

Conviviality is Britain’s largest franchised off-licence and convenience chain, operating stores under the Bargain Booze and Wine Rack brands. (Reporting by Noor Zainab Hussain in Bengaluru; editing by Carolyn Cohn)

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