The story of KPMG in the U.K.
U.K. firm of the KPMG network (KPMG LLP and KPMG Audit Plc); auditor of Carillion.
KPMG in the U.K.. U.K. firm of the KPMG network (KPMG LLP and KPMG Audit Plc); auditor of Carillion.
1999–2017
Carillion awarded a contract to KPMG in the U.K.. 29M GBP, statutory auditor.
Audit fees over 19 years, as counted by two House of Commons committees. KPMG said its independence was not impaired after 19 years.
12 Oct 2023
KPMG in the U.K., sanctioned by Financial Reporting Council. Fines of £18.55 million (KPMG LLP) and £2.45 million (KPMG Audit Plc) after 30% cooperation discounts, severe reprimands, and a declaration that the audit reports did not satisfy the requirements.
KPMG LLP also paid the regulator’s costs of £5,324,365.68. The regulator said the breaches in the first decision were not dishonest and in most cases not intentional, deliberate or reckless.
KPMG in the U.K., member of KPMG.
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