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The UK Financial Reporting Council on Tuesday said it has begun an investigation into KPMG LLP’s audit of Carr’s Group PLC’s financial statements. The results in question are for the Carlisle, England-based speciality agriculture and engineering group’s financial year that ended August 28, 2021. The investigation will be conducted by the FRC’s Enforcement division under an audit enforcement procedure. This is not the first time that the audit of Carr’s results has caused a problem. In January, the company’s shares were suspended from trading after it was unable to publish its results for financial 2022 due to delays in the audit process. The company’s new auditor is Grant Thornton UK LLP. Its shares were restored to trading in March, after issuing the results. They were down 1.6% to 118.30 pence each in London on Tuesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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