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Regulator alleges KPMG made breaches in its Carillion audits

Carillion collapsed in 2018 triggering a series of probes into the audit sector

The Financial Reporting Council (FRC) has found that KPMG has a case to answer following an investigation into its audits of outsourcer Carillion which collapsed in January 2018.

The FRC said it had delivered its initial investigation report (IIR) into KPMG’s audits of Carillion for 2014, 2015 and 2016 and additional audit work it carried out during 2017.

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