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Formal complaint KPMG, Carillion

Formal complaint against KPMG issued over Carillion audit

The Financial Reporting Council (FRC) has announced a formal complaint against KPMG and others regarding allegedly false information provided to the FRC in Carillion and Regenersis audit quality inspections.
Carillion collapse

Carillion collapse exposes corporate deviance

The collapse of corporate giant Carillion in January 2018 highlights a culture of financial deviance embedded at the heart of the UK construction sector, according to research by London South Bank University (LSBU).
public sector contract,

Contractors will face ‘intense scrutiny’ if they submit low bids

Contractors will face “intense scrutiny” if they submit unrealistically low bids for public sector contracts, according to a senior official at the BEIS.

Carillion directors face being barred from boardroom roles

The move to start legal steps to bar eight former directors of Carillion from top boardroom positions has been welcomed by Unite the union – but ‘should have come much sooner’.
negligence lawsuit, KPMG,

KPMG’s Carillion negligence lawsuit reveals ‘rotten system’

Reports that accountancy firm KPMG is facing a £250m negligence lawsuit over its role in Carillion’s collapse highlights the need for Government to address the UK’s ‘rotten system of bandit capitalism’, urges Unite.
Golden thread, data, administration,

Insolvency and data: Severing the Golden Thread

Should asset owners insource data when commissioning building and infrastructure developments? Stuart Bell of GroupBC, part of the Bentley Systems family, takes a look.
Carillion collapse, Increased construction costs,

Increased construction costs for hospitals delayed by Carillion collapse

The National Audit Office (NAO) has released its latest report, which shows serious delays and increased construction costs for two hospital developments due to the Carillion collapse.
collapse of Carillion, Financial Reporting Council,

Audit watchdog delays Carillion collapse findings until summer

The Financial Reporting Council (FRC) has said that due to the size and complexity of the collapse of Carillion its investigation will need an additional six months to complete the first stage.
late payment,

Late payment problems in construction need solving, says BESA

David Frise, CEO of BESA has urged the government to solve the late payment problems that challenge construction supply chains.

Midland Metropolitan hospital gains additional government support

Work to finish construction of the Midland Metropolitan hospital will now go ahead, after the Chancellor announced £350m in funding to rescue...
collapse of Carillion,

Unite slams government for failing to learn lessons from Carillion’s collapse

Unite the union has criticised the government for a 'business as normal approach' towards the collapse of Carillion and for failing to take action against the guilty.
SEC Group, dawnus,

Dawnus collapse dubbed a “Welsh Carillion”

The Specialist Engineering Contractors’ (SEC) Group Wales/Cymru has called the collapse of Dawnus a “Welsh Carillion”.
FRC, Carillion,

FRC extends investigations into Carillion’s financial statements

The Financial Reporting Council (FRC) has extended its investigations into the preparation, approval and audit of the financial statements of Carillion.
outsourcing playbook, contracts,

Outsourcing Playbook to future-proof public contracts

The government has published its Outsourcing Playbook, designed to improve how it works with the construction industry and deliver better public spaces.

New sector director appointed for Amey Rail

Infrastructure and rail company Amey have announced that Andy Joy has been appointed as sector director for its Rail business.
developments, construction industry,

A year of developments in construction – and what 2019 may...

2018 saw some big changes and big challenges for the construction industry. Simon Lewis and Hannah Gardiner of law firm Womble Bond Dickinson look back at the key developments – and highlight what we can expect in the year ahead.
FRC, Carillion,

FRC offers further information on Carillion investigation

The Financial Reporting Council (FRC) has provided further information regarding its investigation into the Carillion collapse.
SME contractors,

New project payment measures must protect SME contractors

David Jazani has called for a government consultation to ensure SME contractors are at the forefront of a project bank account system.

Industry predictions 2019: Engineering, construction & infrastructure

2019 will see a digital leap forward as many construction companies explore implementing integrated business software into projects for the very first time.
Carillion’s collapse

Carillion’s collapse: One year later

Unite, Britain and Ireland’s largest union, has warned that a year after Carillion’s collapse the government’s inaction is putting jobs at risk and could result in future corporate meltdowns.
Flexible financing, construction finance,

Supporting the construction sector through fast and flexible financing

Andrew Dixon, commercial director – specialist finance at Aldermore, examines the alternatives to High Street lending to help construction companies keep building.
Carillion's collapse, Unite,

Unite launches blueprint to tackle Carillion-style collapses

The UK’s largest union, Unite, has launched a blueprint in the hopes of tackling bandit capitalism in the UK economy and putting an end to future Carillion-style collapses.
rescue deal, Interserve, interserve shareholders,

Interserve rescue plan leads to 75% plummet in shares

Shares in Interserve – one of the UK's largest providers of public services – have lost more than 75% of their value after it revealed it is seeking a rescue deal.
Interserve shares, energy from waste,

Interserve shares tumble as growing debt reignites doubts

Shares in Interserve fell 7% on 23 November after the contractor said debts this year would be higher than previously expected, reigniting doubts about the financial health of the firm.
Paradise development,

Birmingam’s Paradise development runs out of money for phase 2

Birmingham City Council has revealed it has run out of money for the second phase of its ambitious £500m Paradise development.
Royal Liverpool, Laing O'Rourke

Laing O’Rourke to complete stalled Royal Liverpool hospital

Laing O’Rourke has secured the management contract to complete the Royal Liverpool Hospital project, which came to a standstill in January when Carillion collapsed