Accountancy giant KPMG facing investigation over its auditing of collapsed Carillion

Accountancy giant KPMG facing investigation over its auditing of collapsed Carillion
 

Its investigation, which follows enquiries made since Carillion issued a profit warning last July, will be conducted “as quickly and thoroughly as possible” and consider whether KPMG has breached ethical and technical standards. 
Areas to be examined include estimates and recognition of revenue on significant contracts and accounting for pensions. 
Carillion went into compulsory liquidation earlier this month with debts of £1.3billion and a pension deficit of nearly £1billion. 
Last summer it was forced to take an £845million hit on problem contracts.  
The FRC said it is “progressing with... read more

 
30 January 2018 in Business, Views: 46
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