Carillion

The Financial Reporting Council (FRC) is planning a drastic change to rules governing company boards which will place more responsibility on directors to vouch for the integrity of their financial controls.

A specialist manufacturer and installer of ventilation systems based in Coupar Angus has gone into liquidation with the loss of more than 80 jobs.

Aggressive accounting policies and a close relationship with KPMG was the cause of the collapse of Carillion, according to a new construction industry survey.

The influential Business, Energy and Industrial Strategy (BEIS) committee of MPs has publicly endorsed the recommendations made last year by a Competition and Markets Authority (CMA) report on reform of the audit industry, and have even called for a break-up of the so-called “Big Four” a

The accountancy watchdog has announced an expansion of its probe into KPMG’s audit of Carillion for the second time. The Financial Reporting Council (FRC) says it will now look into work on the collapsed contractor’s 2013 accounts but it did not say why it has wi

A ten minute rule bill was proposed yesterday which called for payments on government and public authority contracts to be made through a ‘project bank account’ system. Debbie Abrahams MP’s bill - titled Public Sector Supply Chains (Project Bank Accounts) Bill – aims to help

On the one-year anniversary of the administration of Carillion's dramatic collapse, new research has revealed the realities of working inside the UK contractor market. The study by international law firm CMS, in conjunction with business research group Explain the Market, canvasses views from execut

A year after the collapse of construction giant Carillion, two of the UK’s biggest unions have warned that the government inaction is putting jobs at risk and could result in future corporate meltdowns. Carillion went into compulsory liquidation on 15 January 2018, with £7 billion of lia

Companies that provide critical government services will have to draw up “living wills” to avoid the public having to foot the bill if another major outsourcer such as Carillion collapses. New procurement measures unveiled by the UK Government yesterday will see key outsourcing firms inc

A detailed study has launched by the Competition and Markets Authority (CMA) to examine concerns that the audit sector is not working well for the economy or investors. As part of its review, the CMA will investigate whether the sector is competitive and resilient enough to maintain high quality sta

A record £1 million was paid out every day during the second quarter of the year to help firms cope with the non-payment of bad debts, largely reflecting claims from many of the firms affected by the collapse of the construction firm Carillion. Figures published by the Association of British Insure

Taxpayers are set to pay £65 million to former Carillion workers who were made redundant following the company’s collapse in January, according to Unite. The UK’s construction union made a Freedom of Information request to the Insolvency Service which revealed that the Redundancy Payments Offic

The UK’s largest union Unite has called for a public inquiry into the collapse of Carillion and for it to cover the UK government’s approach to the awarding of contracts, following the Dispatches programme shown this week. The programme included senior business analysts who described Carillion a

Agreements to transition the last of 278 contracts provided by Carillion to new service providers are now in place, signalling the end of the trading phase of the liquidation. An update from the Official Receiver has confirmed that the trading phase of the liquidation has come to a close almost seve

The UK government's “overriding priority” for outsourcing is spending as little money as possible while “forcing contractors to take unacceptable levels of financial risk” has been exposed by the collapse of Carillion, a committee of MPs said today. Releasing its latest report into the contr