The U.K.’s audit regulator has begun investigations into the auditors for Greensill Capital and Sanjeev Gupta’s Wyelands Bank.
The Financial Reporting Council will probe Saffery Champness for its audit of Greensill’s 2019 accounts and will separately look at PwC LLP, which audited the Wyelands Bank.
Investigators are starting to round in on both Gupta and Greensill, after months of scrutiny from lawmakers and the media over its financing practices.
Gupta’s GFG Alliance is already facing probes from the U.K. prosecutors over suspicions of fraud and money laundering. Wyelands Bank is set to be wound up if no buyer is found after the Bank of England ordered that all depositors should have their money returned.
Saffery Champness and PwC couldn’t immediately be reached for comment.