Written question asked by Lord Sikka (Labour) on Wednesday, 10 January 2024, in the House of Lords. It was due for an answer on Wednesday, 24 January 2024. It was answered by Lord Johnson of Lainston (Conservative) on Thursday, 25 January 2024 on behalf of the Department for Business and Trade.
Carillion: KPMG
- Question
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To ask His Majesty's Government how much the Treasury has received in fines from KPMG for audit failures at Carillion, and what consideration they have given to using these to support Carillion employees who lost some of their pension rights.
- Answer
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Fines imposed following investigations by the Financial Reporting Council (FRC) under its Audit Enforcement Procedure (AEP) are required by law to be transferred to the Secretary of State and must be paid into the exchequer to be used to fund public expenditure generally.
The fines imposed under the AEP on KPMG and two former partners for audit failures at Carillion totalled £21,420,000 after settlement discounts.
Secondary information
- Type
- Written question
- Reference
- HL1475
- Session
- 2023-24
- Subjects
- Audit Fines Insolvency Workplace pensions Negligence KPMG Carillion
- Contains statistics
- Yes
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2024-02-07 02:09:59 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2023-24/HL1475
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2023-24/HL1475
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2023-24/HL1475