Madison Marriage and Barney Thompson
PwC’s role in the liquidation process of the collapsed contractor Carillion has come under scrutiny after it emerged that the auditor already has two separate, and apparently conflicting roles, including one advising the defunct company’s pension trustees.
Six PwC executives were appointed by the High Court on Monday as “special managers” in the liquidation process to help wind down Carillion, which became insolvent after building up £1.3 billion ($2.25 billion) in debts and a £587m pension deficit.
Deloitte and KPMG, rival ‘big four’ firms, had been ruled out of the liquidation role because they were already Carillion’s internal and external auditors…
Read the full article at: http://www.afr.com/news/world/pwcs-multiple-roles-with-carillion-come-under-scrutiny-20180116-h0jgtd