Publisher

Financial Reporting Council

2 published claims from Financial Reporting Council appear in the database. The labels below compare each sampled claim with the record. They do not rate the publisher as a whole.

Supported2

Sampled claims

Supported91
A disciplinary tribunal found in July 2022 that KPMG gave false or misleading documents and information to FRC inspectors reviewing its Carillion and Regenersis audits.
KPMG LLPRegulator statement, 25 July 20222 records citedDisclosure
Supported94
The Financial Reporting Council said in October 2023 that KPMG failed to gather sufficient appropriate audit evidence in its audits of Carillion's 2014 to 2016 financial statements.
KPMG LLPRegulator statement, 12 October 20233 records citedAccounting

Reports and statements sampled

Sanctions against KPMG and others in connection with Regenersis & Carillion auditsRegulator statement, 25 July 2022
Sanctions against KPMG LLP, KPMG Audit plc and two former partnersRegulator statement, 12 October 2023

Responses on record

KPMG UK, 12 October 2023, on this claim: Chief executive Jon Holt called the findings damning and said he was very sorry the failings happened.^S5

Sources

S5Tier C KPMG handed record fine over audit failures in Carillion demiseAccountancy Age. Press report. 12 October 2023.Report by Greg Noble quoting KPMG's chief executive. The record fine description is the publisher's.Link working, checked 25 October 2026