KPMG fined record £21m over Carillion audit failures

Collapse of construction and building services firm in 2018 prompted root and branch review of auditing standardsBritain’s accounting regulator has fined KPMG a record £21m for audits of Carillion, the builder that imploded in 2018 and prompted a root and branch review of auditing standards.“The number, range, and seriousness of the deficiencies in the audits of Carillion during the period leading up to its failure was exceptional and undermined that credibility and the public