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UPDATE 1-UK watchdog investigating retailer French Connection's audit

Wed, 06th Oct 2021 07:29

(Adds Mazars comment)

LONDON, Oct 6 (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)

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