Stock Market News
UK watchdog fines KPMG $24 million over Carillion, Regenersis audits
2022.07.25 09:42
A banner for professional services network KPMG hangs above the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren
(Reuters) – Britain’s audit watchdog on Monday fined KPMG 20 million pounds ($23.93 million) after a probe into false and misleading information provided to the regulator over the audits of construction firm Carillion and outsourcing firm Regenersis.
The Financial Reporting Council also ordered KPMG to appoint an independent reviewer into the firm’s current Audit Quality Review (AQR) policies and procedures.
($1 = 0.8356 pounds)
