KPMG fined £14.4m for Carillion audits

The Financial Reporting Council has fined KPMG £14.4m for providing “false and misleading information” during the watchdog’s investigation into audits of Carillion and Regeneris.
A former KPMG partner and four former employees were also fined and the accounting giant was ordered to pay a further £3.95m in costs.
The ruling stated: “The seriousness of the misconduct that we have found proved scarcely needs explanation. Effective audits are essential to the fina