KPMG accepts the findings of (Liam McBurney/PA)
(Picture: PA Archive)Big-four accountancy firm KPMG has been hit with the biggest fine it has ever faced in the UK after it deliberately mislead its regulator.
The £14 million penalty relates to its audits of Carillion, the failed outsourcer, and Regenersis, an IT company. It was imposed by a tribunal which concluded KPMG provided false and misleading documents and information when the Financial Reporting Council (FRC) undertook routine inspections of KPMG’s audit of Carillion’s 2016 accounts and Regenersis’ 2014 books.
