Every page of the jaw-dropping MPs report on Carillion has detail to make the blood boil.
No one comes out looking good: The Pensions Regulator was feeble; the Financial Reporting Council toothless; crown representatives to Carillion served no noticeable purpose. And thats before you get to the Big Four accountancy firms, or the Carillion directors who were either negligently ignorant of the rotten culture or complicit in it.
The cosy relationship between contractors, regulators and major accountants enabled a collapse that left thousands without jobs and supply chains in turmoil.
KPMG audited Carillions accounts for 19 years, charging £29m in fees. MPs argue it was complicit in the contractors aggressive accounting, which included re…
Read the full article at: https://www.constructionnews.co.uk/analysis/editors-comment/carillions-cosy-corporate-culture-offers-lessons-for-us-all/10031077.article
