Auditors Knew Of FRC Inspection Rules, KPMG Tells Tribunal

By Richard Crump (January 11, 2022, 5:12 PM GMT) -- A group of former KPMG auditors accused of misleading the accounting regulator over their audit work on Carillion, the collapsed outsourcing giant, knew they were required to be open with inspectors, the accounting firm told a disciplinary tribunal in London on Tuesday.

The Financial Reporting Council has accused the Big Four firm and five of its former auditors of being involved in forging documents to deceive inspectors who were asking questions about its audits of Carillion in 2016 and a software company, Regenersis, in 2014.

KPMG said it accepts that it is responsible for the alleged misconduct of its staff. But the company...

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