KPMG's audit on Powerscreen will be completed within weeks, according to informed sources. The audit is anxiously awaited by fund managers and other investors in the troubled engineering group.

It is also understood that, contrary to reports, KPMG is not on the point of resigning from the account. The audit of the group is still ongoing and is due to finish in a few more weeks, according to informed sources.

The source added that any speculation that KPMG may resign from the account is purely hypothetical and that the audit will definitely be completed.

Powerscreen shares have continued to fall and closed at 129p on Friday down 86p on the week.