Accountants accused of “feasting on Carillion carcass”

“MPs have accused the “big four” accountancy firms of “feasting on what was soon to become a carcass” as it emerged they banked £72m for work linked to collapsed government contractor Carillion in the years leading up to its financial failure.

Less than a fortnight before Carillion’s auditor KPMG is due to face questions from MPs on two select committees, the accountant and rivals Deloitte, EY and PricewaterhouseCoopers (PwC) submitted evidence to the inquiry.

Responses to questions from the committees revealed that the quartet of firms issued bills worth £71.6m over 10 years from 2008 for work for Carillion, its pension scheme and its government contracts.

Details of accountants’ fees emerged as more than 4,400 former Carillion staff working in prison maintenance, as well as catering and cleaning on military bases were told that they will keep their jobs.

The total number of jobs saved has now reached 6,668, more than a third of Carillion’s 19,500-strong workforce. But nearly 1,000 people have already been made redundant, while a further 11,800 staff still face an uncerttain conditions….”

https://www.theguardian.com/business/2018/feb/12/carillion-jobs-prison-defence-staff