Carillion’s auditor is singled out for censure

A Big Four accountancy firm has been singled out by its regulator in a critical report into the quality of auditing in Britain. KPMG, the auditor of Carillion, the construction services company that collapsed in January, was censured for “unacceptable deterioration” in its audit work. The Financial Reporting Council (FRC) has introduced special measures to put the company under increased scrutiny. KPMG was told that it must hand over more of its audit files to the regulator for review, and that some of its worst audits would be referred for further review, which could lead to disciplinary action. Click here for the full Times article (£) Click here for the full FT article (£) Click here for the full Guardian article