leadf
logo-loader
viewCarillion

Watchdog completes investigation into Carillion's accounts

The FRC said it was not possible to say when the outcome of the investigation will be made public

Carillion -

The UK’s accounting watchdog has completed its initial investigation into the collapse of government contractor Carillion.

However, the report into how auditor KPMG gave Carillion a clean bill of health before its spectacular and costly collapse in January 2018, is not going to be published yet.

Carillion, which at the time of its collapse had more than 190,000 employees working on private and government contracts to build or maintain schools, roads and hospitals, entered compulsory liquidation under a £1.5bn debt pile after it failed to secure a rescue deal with lenders or the government.

The Financial Reporting Council (FRC) said it delivered its report to KPMG towards the end of last month following an “extensive investigation” into the financial statements of Carillion PLC for the years ended December 31, 2014, 2015 and 2016 and additional audit work carried out during 2017.

KPMG will have an opportunity to respond and once this is considered, the FRC will make a decision about whether to pursue enforcement proceedings.

The FRC said it was not possible to say when the outcome of the investigation will be made public.

Quick facts: Carillion

Price: 14.2 GBX

LSE:CLLN
Market: LSE
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Metal Tiger on Kitlanya East copper-silver project progress and oncoming...

Metal Tiger PLC's (LON:MTR) Michael McNeilly catches up with Proactive London's Katie Pilbeam after reporting progress at the Kitlanya East copper-silver project in Botswana, operated by Kalahari Metals Ltd (KML). McNeilly explains the potential for the South Fold target to host copper-silver...

2 days, 5 hours ago

2 min read