The U.K. Financial Reporting Council (FRC) on Wednesday issued a disciplinary formal complaint against KPMG for allegedly providing “false and misleading” information during inspections into the Big Four firm’s audits of Carillion and Regenersis.

KPMG’s engagement partners in the Carillion and Regenersis audits—Peter Meehan and Stuart Smith, respectively—were also served complaints. The audits under inspection include the financial statements of Carillion for the period ended Dec. 31, 2016, and the financial statements of Regenersis for the period ended June 30, 2014.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...