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KPMG fined a record £21m over ‘textbook’ failures in Carillion collapse

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The Financial Times

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UK accounting watchdog imposes penalty on Big Four firm over serious failings in UK contractor audit.

12 October, 2023 by Michael O’Dwyer

KPMG has been fined a record £21mn by UK regulators for “textbook” failures in its auditing of Carillion, the government contractor whose collapse in 2018 sparked political controversy and calls for an overhaul of the accounting profession.

The Financial Reporting Council said on Thursday that it

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