KPMG sued for $1.8 bln over Carillion audit (updated)

Carillion

03/02/2022 15:24

(Adds KPMG response, details)
    LONDON, Feb 3 (Reuters) - A British government receiver is
suing KPMG for 1.3 billion pounds ($1.77 billion) over alleged
negligence during its audit of collapsed construction giant
Carillion, in one of the largest claims against one of the
world's top accountants.
    The professional negligence claim was filed by Britain's
Official Receiver - part of the Insolvency Service - who is
liquidating the former blue-chip government supplier, which
collapsed in 2018 under a 7 billion pound debt mountain.
    KPMG said it believed the lawsuit, details of which were
made public on Thursday, was without merit and vowed to defend
the case robustly.
    "Responsibility for the failure of Carillion lies solely
with the company's board and management, who set the strategy
and ran the business," a KPMG representative said.
    ($1 = 0.7357 pounds)

 (Reporting by Kirstin Ridley; Editing by Alex Richardson)
 ((kirstin.ridley@thomsonreuters.com; +44 (0) 207 513 5666;))