A leading shareholder in Carillion is calling for the break-up of the Big Four accounting firms, in the wake of the company’s collapse in January.
Kiltearn Partners criticised the quality of Carillion’s audited reports yesterday before a Commons joint select committee that is investigating the failed outsourcer.
Carillion went into liquidation with debt and pension liabilities each exceeding £1bn after shareholders and banks refused to bail it out. The government was forced to step in to guarantee continued public services ranging from school meals to roadworks.
