The accounting watchdog is set to announce the verdict of its probe into KPMG’s audit of collapsed bank HBOS on Monday.
The Financial Reporting Council (FRC) met last week to consider the outcome of preliminary enquiries.
The body said on Thursday that its conduct committee had “made a decision which following certain procedures will be announced as soon as possible”.
And Sky News first reported on Sunday evening that the verdict would be announced on Monday. The FRC declined to comment.
Read more: KPMG to be investigated over HBOS audit
Last December, Treasury Select Committee chairman Andrew Tyrie called for a probe, saying: “The shortcomings of the audit process were serious. It is essential – in the interests of public confidence – that the FRC get on with this investigation, and without delay.”