Flanders Language Valley Fund, the Belgian private equity house specialised in speech and language technology, intends to replace KPMG as auditor following a dispute over misappropriated funds in Korea.

The move is the latest in a long-running investigation into FLV Fund's Korean activities and a legal battle by FLV Fund to retrieve $30m (€34m). As auditor KPMG has raised questions over the firm's Korean fund after it emerged that FLV Fund had discovered fraudulent activity, and had written off $30m (€34m) on its FLV Fund Korea.