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Accounting Standards

KPMG receives record £21m fine over Carillion audit

Under this decision, former KPMG partner Peter Meehan has also personally been fined £500,000, reduced to £350,000 to reflect his co-operation with investigators

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KPMG has been awarded a record £21m fine from the FRC over “exceptional failings” in its audit of Carillion ahead of the firm’s 2018 collapse.

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