KPMG accused of misleading watchdog over Carillion audit
Accusations come as the Government prepares to sue KPMG over its audit of Carillion in a bid to reclaim £250m on behalf of creditors
The accounting firm is facing a formal complaint from the Financial Reporting Council (FRC) over alleged misconduct amid a long-running investigation into the failure of Carillion, which was one of the Government's biggest contractors before it
imploded in early 2018 under £7bn of debts.
Regulators' have complained about information provided by KPMG and its staff during an FRC inspection of
how it audited Carillion’s financial statements in the year to December 2016.
Similar accusations have also been filed against KPMG in relation to the audit of another firm, Regenersis, in 2014.