Carillion investigation is extended
The Financial Reporting Council (FRC) has extended its investigations into Carillion’s accounts to look further back into the failed company’s history.
The Wolverhampton-based construction giant entered liquidation a year ago and remains the subject of several investigations into how and why it failed.
The FRC has been examining KPMG’s audits of Carillion for the years 2014-2016, as well as the audit work carried out during 2017.
It has now extended its investigation to include 2013.
The move comes weeks after KPMG suspended Peter Meehan, the Birmingham-based partner who was lead auditor for Carillion, and three other employees.
KPMG said the suspension was because of “concerns” that had been identified with some documents supplied to the FRC. The Times reported that documents provided to the audit watchdog had been backdated.
The FRC is also continuing to investigate the roles of former group finance directors Richard Adam and Zafar Khan.
