Liverpool are one of several clubs to be investigated by UEFA for breach of Financial Fair Play rules, according to the Telegraph.
An announcement from the European governing body could be made as early as today (Thursday), which could see the Reds asked to provide further information on their finances to the Club Financial Control Body (CFBC).
No financial sanctions are expected to take place, although the Reds could see their first round of Champions League money (around £7million) withheld whilst the CFBC gather more information.
Liverpool made a loss of £49.8 million for the 2012-13 season, and £40.5m for the 10-month period before that.
The Reds will hope to avoid further sanctions by writing off a large chunk as stadium expenditure, with the 2011-12 accounts stating a £35million loss came from previous owner Tom Hicks’ decision to withdraw plans for a new stadium,
The club were only given permission to start redevelopment plans of Anfield this week.
Uefa’s FFP rules say losses must be no more than £35.4m over the 2011-12 and 2012-13 seasons, but allow expenses such as on youth development and stadium costs to be written off.
Manchester City and Paris St Germain have so far been hit with fines for breaching the Financial Fair Play rules put in place, whilst Roma, Inter Milan, and Monaco have also been asked to submit more information on their accounts.
