The former KPMG PQ who worked on the Carillon audit has escaped with just a severe reprimand over his ‘misconduct’. While Pratik Paw admitted creating false meeting minutes which mislead an Audit Quality Review inspection, he was not found to have acted dishonestly.
Paw was told he was looking at a fine of £50,000 and a ban, which would have forced him to sell his house. Instead, the FRC independent tribunal issued no fine and just the reprimand to the 25-year-old.
Paw’s lawyers had told the tribunal said Paw deeply regrated not questioning the orders of his superiors and had learnt a great deal from his conduct at the time.
Meanwhile, the lead partner on Carillion, Peter Meehan was hit with a £250,000 fine.
KPMG was also issued with a record fine of £14.4 million, reduced from £20 million because the Big 4 firm had cooperated with the regulator’s investigation.
Read the full story in the latest PQ magazine at: https://issuu.com/pqpublishing/docs/pq_sept22_multi_
