Accountancy firm KPMG has not renewed its sponsorship of a mentorship scheme founded by Prince Andrew, as the fallout from his “disastrous” TV interview at the weekend continues.

Pitch@Palace was established by the Duke of York in 2014 and provides guidance and support for budding entrepreneurs. 

KPMG’s sponsorship of the scheme ran out at the end of October and a decision was made not to renew the deal.

At the same time, allegations against Prince Andrew and his relationship with the convicted sex offender Jeffrey Epstein, continued to circulate, culminating in a Newsnight interview on Saturday evening in which he tried to defend himself.

A Buckingham Palace spokesperson told HuffPost UK in a statement: “KPMG’s sponsorship contract with Pitch@Palace finished at the end of October. A full programme of Pitch@Palace events is continuing across the United Kingdom.”

KPMG declined to comment.

Andrew’s appearance on BBC’s Newsnight programme to deny allegations he had sex with an underage teenage girl and explain his friendship with the convicted sex offender, has drawn widespread condemnation but the duke is said to being standing by his decision to put his side of the story.

Also on Monday it was alleged by Evening Standard columnist Rohan Silva, the Duke of York used the n-word at a Buckingham Palace meeting with him when he was a Downing Street advisor to the tech economy.