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Britain's accounting regulator on Thursday fined KPMG a record 21 million pounds for audits of Carillion, the builder that imploded in 2018 and prompted a root and branch review of auditing...
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UK accounting watchdog imposes penalty on Big Four firm over serious failings in audit of UK contractor
Accountancy firm KPMG has been fined £21m by the Financial Reporting Council for its mishandling of Carillion’s accounts.
KPMG has been slapped with a record fine over its botched auditing of Carillion, the construction company which went spectacularly bust in 2018.
The Financial Reporting Council said Thursday that the number of errors in the reporting were 'exceptional' and 'failed to adhere to the most basic and fundamental audit concepts.'