KPMG and multiple former staff members are facing “serious regulatory sanctions” over their engagement in a conspiracy to mislead inspectors looking into their audit of outsourcer Carillion.

A tribunal has found that ex-KPMG partner Peter Meehan and ex-KPMG auditors Alistair Wright, Richard William Kitchen and Adam David Bennett deliberately and dishonestly created false documents and made false representations about those documents to inspectors from the regulator, a barrister for the Financial Reporting Council told a sanctions hearing on 12 May.