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FRC Extends Investigation Into KPMG Over Carillion Audits

Law360, London (February 26, 2019, 6:26 PM GMT) -- The U.K. Financial Reporting Council announced Tuesday it is extending its probe of audits carried out by accounting firm KPMG into failed outsourcing giant Carillion PLC.

Britain’s accounting watchdog said its investigation into the Big Four firm’s audit work at the U.K. construction outsourcing company would now include financial statements from the year ended Dec. 31, 2013.  The regulator declined to say why this was or give further details. 

The FRC is already looking at KPMG’s auditing work at Carillion — which folded in 2018 with a pension deficit of at least £800 million ($1 billion) — for the financial years ending...

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