KPMG handed record fine over Carillion audits

By Daniel Gayne2023-10-12T11:19:00

Source: Shutterstock

Firm’s work ’undermined public trust’, says watchdog

KPMG and two of its former partners have been hit with fines totalling £30m by the UK’s accounting watchdog after its investigation into the audits of doomed contractor Carillion.

The financial sanction, which was reduced to around £21m due to co-operation and admissions, is the highest ever imposed by the Financial Reporting Council (FRC).

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