Gill Plimmer
British MPs have demanded the UK’s big four accountancy firms be referred to competition authorities for potential break-up following the collapse of government contractor Carillion, calling them a “cosy club incapable of providing the degree of independent challenge needed”.
The recommendation by members of two powerful parliamentary committees was contained in a damning 100-page report on Carillion’s failure, which also accused the government, regulators and Carillion board members of failing in their responsibilities, often because they acted “entirely in line with their own personal incentives”.
Carillion, which went into liquidation in January with liabilitie…
Read the full article at: http://www.afr.com/business/accounting/pwc-deloitte-kpmg-ey-face-uk-breakup-call-amid-carillion-demise-20180515-h10455