UK Watchdog Probes Ferry Giant Over Possible Audit Failures

The UK’s audit watchdog Wednesday opened an investigation into an accountant at one of the country’s largest ferry operators after KPMG resigned as the firm’s auditor after several years of filing its accounts late.

The Financial Reporting Council said it was looking into the unnamed accountant’s behavior during the audits for three financial years spanning 2020 to 2022. P&O Ferries Division Holdings Limited 2022 accounts were filed late after controversy over the firing of workers and heavy losses.

“The opening of an investigation does not indicate that the FRC has made, or will make, any findings of Misconduct,” the watchdog ...