Auditor KPMG set to be called in to investigate accounting error

Mouchel is open to serious takeover offers after an £8m accounting error led to its share price plummeting by a third last Friday, the Financial Times has reported.

A source inside the consultant told the paper that the firm – which has rejected three bids from over the past 12 months – was “open to take over … the board would consider anything serious”.

Lenders are set to call in accountant KPMG to carry out a full review of the business after the profit warning.

The consultant announced the resignation of chief executive Richard Cuthbert in the same trading update on Friday.

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