KPMG

Carillion and FRC investigation

I know that some members are taking a very active interest in what went wrong at Carillion. The email below from the FRC contains a link to a document which you may find both useful and interesting to support your own research and in helping to reach some initial conclusions. "From: FRC Sent: 29 January 2018 09:54 To: Various Subject: News Alert - Accounting and reporting framework for the construction and business support services sectors In the light of the collapse of Carillion, the Financial Reporting Council ...

Carillion, EMIS and KPMG

Now that the dust has settled somewhat after the demise of Carillion (CLLN), it’s worth adding some more comments to my previous blog post on the subject. Ultimately it went bust for the same reason most companies do - it simply ran out of cash and could not pay its debts as they became due. As I said before, it collapsed eventually because of ballooning debt, poor cash collection and risky contracts. Unfortunately it seems that private investors were some of the ...