KPMG to face disciplinary hearing over alleged ‘false and misleading’ audits of Carillion

By Tom Lowe2021-09-01T12:54:00

Formal complaint follows three-year investigation into financial reporting of collapsed contractor

UK financial regulators have issued a formal complaint to KPMG over an allegedly “false and misleading” audit the accounting firm carried out on collapsed contractor Carillion.

The Financial Reporting Council (FRC), an independent watchdog for accountants, has delivered the disciplinary notice to KPMG and several of its former and current employees including former partner Peter Meehan, who led the firm’s audits of Carillion.

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