Kpmg

KPMG has been slapped with a record £21 million fine by the Financial Reporting Council (FRC) over its mishandling of the audits for Carillion, the government contractor that collapsed in 2018.

KPMG UK and the liquidators of Carillion have reached a settlement agreement, putting an end to the £1.3 billion legal claim against the professional services giant.

KPMG has been fined £20 million by the Financial Reporting Council (FRC) for its audits of Carillion and Regenersis. The fine, which is the largest the big four firm has received in the UK, is part of sanctions for misconduct of audits carried out by KPMG for Carillion and Regenersis. The fine

Big Four firm KPMG is set to be fined £14.4 million after a Financial Reporting Council (FRC) tribunal found that its auditors deliberately misled regulators during routine inspections of its audit of collapsed government contractor Carillion. The £14.4m fine for KPMG would be the second

The UK Government is suing KPMG for £1.3 billion over allegations it was negligent in its audit of Carillion in 2016. Government ministers have accused KPMG of failing to respond to "red flags" in Carillion's accounts ahead of its collapse in 2018.

KPMG's chief executive Jon Holt has admitted that the Big Four firm misled the Financial Reporting Council (FRC) over its audit of collapsed outsourcer Carillion. In a statement released on the first day of a five-week disciplinary tribunal over the behaviour of the firm and six former employees, Mr

The liquidators of Carillion have launched a potential £250 million legal claim against KPMG - the former auditor of the collapsed contractor.

The Financial Reporting Council’s (FRC) executive counsel has delivered a disciplinary Formal Complaint, under the Accountancy Scheme, against KPMG, a former KPMG partner and certain current and former KPMG employees relating to the audits of Carillion. The Formal Complaint alleges misconduct

Every £1 invested in information management (IM) could potentially secure up to £6 of labour time savings while boosting government efforts to reach net zero carbon emissions by 2050, according to a new report.

Litigation Capital Management (LCM) has agreed to back a £250 million negligence claim against KPMG for its audits of Carillion. The litigation funder said it would fund a High Court claim brought by the liquidator of the collapsed contractors entities.

Scotland’s economy could completely regain lost ground within the next two years and outpace the UK-wide average, according to the latest economic forecasting from KPMG. KPMG estimated the country’s economy took a 9.6% hit in 2020, broadly in-line with forecasts, as the pandemic impacted

The Financial Reporting Council (FRC) has indicated that rule breaches have been discovered in its investigation into KPMG’s audits of collapsed contractor Carillion.

The accountancy failures surrounding the collapse of Carillion are costing other firms with government contracts millions of pounds in annual audit fees.

Around £75 million has been wiped off the value of The Events Complex Aberdeen (TECA), by KPMG's audit of Aberdeen City Council's books. The Big Four firm has revealed that the exhibition centre, which includes the P&J Live arena, two hotels and an energy centre, is now worth around 80% of

Family-run Central Building Contractors (Glasgow) Limited has been placed into administration following years of “challenging trading conditions in the construction sector”.