FRC launches investigation into auditing at SIG

Accounting watchdog the Financial Reporting Council (FRC) has begun an investigation into the audit of the financial statements of Sheffield-headquartered SIG by Deloitte.

In an announcement on the markets this morning, the FRC said the investigation would focus on the audit of cash and supplier rebates for the years ended 31 December 2015 and 2016. It will be conducted under the Audit Enforcement Procedure (AEP).

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