Carillion

The liquidators of Carillion have launched a potential £250 million legal claim against KPMG - the former auditor of the collapsed contractor.

The Financial Reporting Council’s (FRC) executive counsel has delivered a disciplinary Formal Complaint, under the Accountancy Scheme, against KPMG, a former KPMG partner and certain current and former KPMG employees relating to the audits of Carillion. The Formal Complaint alleges misconduct

Litigation Capital Management (LCM) has agreed to back a £250 million negligence claim against KPMG for its audits of Carillion. The litigation funder said it would fund a High Court claim brought by the liquidator of the collapsed contractors entities.

The collapse of corporate giant Carillion in January 2018 highlights a culture of financial deviance embedded at the heart of the UK construction sector, according to new research by London South Bank University (LSBU).

The UK Government has launched new legal action against eight former directors of failed contractor Carillion which could see them banned from running businesses for up to 15 years.

As the Financial Conduct Authority investigation into the 2018 Carillion case concludes with the watchdog intending to take further action against its directors, Ramsay Hall argues that the lessons for the industry as a whole is that sending out misleading messages to the market about a company

The Financial Conduct Authority (FCA) has proposed a public censure for collapsed contractor Carillion instead of a financial penalty, despite finding its directors to have been knowingly reckless in their reporting of the company’s performance.

The Financial Reporting Council (FRC) has indicated that rule breaches have been discovered in its investigation into KPMG’s audits of collapsed contractor Carillion.

The accountancy failures surrounding the collapse of Carillion are costing other firms with government contracts millions of pounds in annual audit fees.

The two private finance initiative (PFI) hospitals that Carillion was building at the time it collapsed are currently due for completion several years late and at vastly increased budgets, a National Audit Office (NAO) investigation has confirmed today.

The Financial Reporting Council (FRC) has revealed it will need at least another six months to investigate KPMG’s auditing of collapsed construction and services firm Carillion due to the scale and complexity of the case.

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