Daily Express

Inquiry into HBOS auditors


THE conduct of accountant­s in the run-up to the high profile failures of HBOS and BHS is to be probed by the accountanc­y watchdog.

The Financial Reporting Council has launched an investigat­ion into the conduct of KPMG’s audit of banking giant HBOS for the year before the lender collapsed in 2008. It was subsequent­ly bought by Lloyds.

The FRC is also looking at Pricewater­houseCoope­rs’ audit of collapsed retailer BHS for the year ended August 30, 2014, when it was owned by Sir Philip Green. He sold the loss-making chain for £1 in March 2015. It fell into administra­tion just over a year later.

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