The probe centres on SIG’s accounts for the years ended 31st December 2015 and 2016.
The investigation will be conducted under the audit enforcement procedure (AEP) and will focus on the audit of cash and supplier rebates.
The FRC has delegated the investigation to the Institute of Chartered Accountants in England and Wales (ICAEW), which is Deloitte's recognised supervisory body, in accordance with the AEP.
The news comes just a day after the FRC closed the book on its investigation into Deloitte’s auditing work at facilities services contractor Mitie Group.
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