KPMG Fined Over Carillion Audits
The Financial Reporting Council has fined KPMG £14.4 million for providing misleading information during an audit of former construction and facilities management...
Read Full ArticleThe Nationwide Building Society is one of the first private sector organisations to take former Carillion employees in-house to protect them from the worst of the Carillion bankruptcy.
A statement reads: “Our contractors perform a vital and valued role for the Society. During an unsettling time for Carillion employees we felt it was important to provide them with some reassurances.
“We have a proposal to bring all services provided directly by Carillion in house, with Carillion employees becoming Nationwide employees from 22 January. This will provide clarity for those affected and ensure that services are maintained.
“As part of the wider supply chain arrangements we will also now look to deal directly with third-party suppliers that currently support the Carillion contract.”
Around 250 Carillion employees currently work at Nationwide and will now be employed directly. A further 1,500 staff are engaged by separate third-party suppliers who work on Nationwide contracts with Carillion. These third party suppliers will now have their contracts directly with Nationwide rather than via Carillion.
Picture: Nationwide Threadneedle Street-Branch
Article written by Cathryn Ellis | Published 19 January 2018
The Financial Reporting Council has fined KPMG £14.4 million for providing misleading information during an audit of former construction and facilities management...
Read Full ArticleIn addition to the FRC tribunal regarding the 2016 Carillion audit, KPMG is now being sued by the government for £1.3 billion. According to released court...
Read Full ArticleJonathan Holt has apologised for KPMG misleading the Financial Reporting Council during an investigation into the firm’s 2016 audit of the now-defunct FM company,...
Read Full ArticleWorkers seeking compensation following Carillion's collapse have secured a significant legal victory. 263 Unite members are seeking compensation for when...
Read Full ArticleThe collapse of corporate giant Carillion in January 2018 highlights a culture of financial deviance embedded at the heart of the UK construction sector, according...
Read Full ArticleThe government is failing to provide and maintain safe, secure and decent prisons - and some of the blame falls at the decision to outsource to Carillion and...
Read Full ArticleThe Kier Group's shares have been plummeting in a style reminiscent of Carillion and Interserve - and on Monday June 17 things got worse as the construction and FM...
Read Full ArticleThe Financial Reporting Council (FRC) has commenced an investigation into the audit by Grant Thornton of the financial statements of Interserve Plc for the years ended 31...
Read Full ArticleInterserve was handed £233 million worth of public sector contracts in recent months despite being on a government 'watch list' set-up to avoid...
Read Full ArticleAdministrators were appointed to Interserve Plc on Friday March 15 - within minutes, the entire Group's business and assets were sold to a newly incorporated company...
Read Full Article