UK markets closed
  • NIKKEI 225

    29,255.55
    +40.03 (+0.14%)
     
  • HANG SENG

    26,136.02
    +348.81 (+1.35%)
     
  • CRUDE OIL

    84.25
    +1.29 (+1.55%)
     
  • GOLD FUTURES

    1,785.70
    +15.20 (+0.86%)
     
  • DOW

    35,609.34
    +152.03 (+0.43%)
     
  • BTC-GBP

    47,919.15
    +1,357.56 (+2.92%)
     
  • CMC Crypto 200

    1,547.94
    +67.14 (+4.53%)
     
  • ^IXIC

    15,121.68
    -7.41 (-0.05%)
     
  • ^FTAS

    4,118.78
    -0.40 (-0.01%)
     

UK watchdog investigating retailer French Connection's audit

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: A person walks past a French Connection store in London, Britain
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

LONDON (Reuters) -Britain's Financial Reporting Council (FRC) has opened an investigation into the audit of retailer French Connection Group by accountants Mazars, the accounting watchdog said on Wednesday.

The FRC said it was investigating the company's audit for the year that ended January 31, 2020.

"The decision was made at a meeting of the FRC's Conduct Committee on 20 July," it said in a statement.

Mazars said it was cooperating fully with the FRC and, respecting client confidentiality and due process, would provide no further comment during the investigation.

On Monday, the UK fashion brand known for its "FCUK" branding, said it had agreed to sell itself for 29 million pounds ($39.44 million) after years of losses only made worse during the coronavirus pandemic.

($1 = 0.7352 pounds)

(Reporting by Huw Jones; editing by Jason Neely)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting