Carillion

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 at vastly increased budgets with most of the increased costs being met by the contractor and private PFI investors, a National Audit Office (NAO) investigatio

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.

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

The Financial Reporting Council (FRC) has strengthened its Going Concern audit standard. The FRC revised its Going Concern standard in response to recent enforcement cases and well-publicised corporate failures where the auditor’s report failed to highlight concerns about the prospects of enti

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