Britain’s accounting regulator on Thursday fined KPMG a record 21 million pounds ($26 million) for a “textbook failure” in audits of Carillion, the builder that imploded in 2018 and prompted a root and branch review of auditing standards.

The collapse of Carillion, a major government contractor building hospitals and other infrastructure, in January 2018, along with the collapse of retailer BHS two years earlier, led to

 » Read More