The Financial Reporting Council has fined KPMG £21m following an investigation into the audits of collapsed contractor Carillion.

KPMG UK has settled a £1.3bn legal battle with the liquidators of Carillion.

Carillion’s auditor KPMG “failed to respond” to accusations in respect of failures to properly audit the accounting of 20 significant construction contracts.

The Financial Reporting Council (FRC) has handed accountancy firm KPMG a £14.4m fine in relation to its audit of Carillion and another company.

As the week draws to a close, CM rounds up the construction stories you may have missed over the past seven days.

As the week draws to a close, CM rounds up the construction stories you may have missed over the past seven days.