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UK builder Carillion imploded in 2018 and prompted a root and branch review of auditing standards

KPMG UK hit with record fine over Carillion audit

Britain's accounting regulator has today fined KPMG a record £21m for a "textbook failure" in audits of Carillion, the builder that imploded in 2018 and prompted a root and branch review of auditing standards.

Business • 12 Oct 23

Carillion went into liquidiation in January 2018, triggering Britain's biggest corporate failure in a decade

Carillion 'recklessly' mislead markets before collapse

Collapsed builder Carillion and some of its executive directors were "reckless" in failing to ensure that their public announcements did not mislead investors, Britain's Financial Conduct Authority said today.

Business • 13 Nov 20

Carillion's collapse in 2018 angered politicians who called on the Competition and Markets Authority to consider breaking up top accountants to increase competition and auditing standards

UK watchdog finds apparent breaches in Carillion audit

Britain's accounting regulator said it has delivered its initial report into KPMG's audit of builder Carillion, an indication that apparent rule breaches have been found.

Business • 21 Sep 20

PwC has apologised that its work fell below the professional standards expected of the company

PwC fined £4.5m over audit of Redcentric in UK

The UK accounting watchdog has fined PwC £4.55m for failing to challenge management at IT services company Redcentric where a £20m hole was later found in the books.

Business • 13 Jun 19

Interserve shares have dropped nearly 90% this year

Interserve clinches debt rescue with creditors

Interserve said it had reached a deal with its lenders to defer a debt payment due early next year.

Business • 21 Dec 18

Kier last month announced a surprise plan to tap the market for some £264m in a heavily discounted share sale

Kier fundraising gets cold response from investors

Kier Group said investors snapped up only 38% of the new shares the British builder issued as part of a fundraising, as shareholders likely avoided a construction sector shaken by the collapse of Carillion.

Business • 20 Dec 18

Interserve announces rescue plan that seeks to head off a Carillion-style collapse

Interserve shares sink after rescue plan announced

Shares in Interserve sank 50% in value today after it announced a rescue plan that sought to head off a Carillion-style collapse by converting much of its debt into new shares.

Business • 10 Dec 18

Coláiste Ráithín was due to welcome its first students tomorrow

Opening of school building built by Carillion postponed

Plans to open two of three new schools built by collapsed UK company Carillion have received a setback with confirmation that the buildings have yet to received safety and standards certification.

Education • 27 Aug 18

Coláiste Ráithín in Bray is one of school projects involved

CIF raises concerns over school building certifications

The Construction Industry Federation has written to a number of county councils expressing concern that five school and college buildings may be certified for use without proper tests being done to ensure that they are in compliance with legal standards.

Education • 24 Aug 18

Subcontractors were left unpaid after the collapse of the UK firm Carillion

Subcontractors to comply with school site injunctions

High Court proceedings against subcontractors involved in pickets that were placed on school construction sites have been adjourned.

News • 20 Jul 18

One of the pickets was placed outside Loreto Secondary School in Wexford

Subcontractors picket school building sites

Subcontractors have placed pickets on three new school buildings in Wexford town and in Bray, Co Wicklow.

Education • 16 Jul 18

The UK's Financial Reporting Council has updated its code of corporate standards for publicly listed companies

UK unveils 'short and sharper' code for companies

Companies in the UK must strive to rein in excessive executive pay and make boards more diverse under a new "short and sharper" corporate code, published today.

Business • 16 Jul 18

A new science lab at Loreto Secondary School in Wexford

Equipment at three new schools 'has not been paid for'

Children in three new school buildings that are due to open this September will be sitting on chairs and at desks, and using equipment, that has not been paid for, an Oireachtas committee heard this afternoon.

Education • 05 Jul 18

Loreto Secondary School in Wexford is one of the schools involved

Work on schools hit by Carillion collapse questioned

Questions have been raised as to whether the State will be in breach of its own building laws if it allows three new school buildings, affected by the collapse of UK company Carillion, to open with the work certified by just one independent certifier.

Education • 03 Jul 18

Coláiste Ráithín in Bray is one of six schools that were being built by a group involving Carillion

Firm picked to finish schools hit by Carillion collapse

A replacement contractor has been appointed to facilitate the completion of school building projects which were stalled by the collapse of UK construction company Carillion.

Education • 26 Jun 18

Four professional services firms have pocketed a total of £71.6m in Carillion-related work since 2008

Big four auditors 'feasting on Carillion carcass'

The big four accountancy firms have been savaged by British MPs who have accused them of "feasting on the carcass" of collapsed construction giant Carillion and collecting more than £70m in the process.

Business • 13 Feb 18

Carillion collapsed on January 15 when its banks halted funding

Almost 400 jobs to go at collapsed Carillion in the UK

Some 377 jobs are to be cut at collapsed UK construction company Carillion while 919 positions have been saved, the UK's government's Official Receiver said today.

Business • 02 Feb 18

£970m was wiped off Capita's market value today

Capita shares slump 40% as UK outsourcer cuts forecasts

British outsourcing group Capita lost 40% of its market value today after its new boss cut profit forecasts and set out plans to raise cash to avoid the same fate as collapsed Carillion.

Business • 01 Feb 18

Carillion was involved in six large scale school building projects in Ireland

Carillion collapse discussed by TDs in Dáil

The issue of schools affected by the collapse of British building company Carillion has been raised by a number of TDs in the Dáil this evening.

Education • 30 Jan 18

The UK's Financial Reporting Council watchdog has opened an investigation into KPMG's audit of the now-collapsed Carillion

UK watchdog to probe KPMG's audits of Carillion

The UK's Financial Reporting Council has opened an investigation into KPMG's auditing of the now-collapsed Carillion covering the years 2014 to 2017, the watchdog said today.

Business • 29 Jan 18

Coláiste Ráithín in Bray was due to open shortly

Taoiseach tells Dáil Carillion collapse is a priority

The Taoiseach has told the Dáil that the Government will resolve the issue surrounding the opening of schools affected by the closure of UK company Carillion.

Carillion • 24 Jan 18

Carillion was part of a consortium contracted to build five schools and one further education college in Ireland

School building projects hit by collapse of Carillion

Progress on the construction of six large scale school buildings is in doubt following last week's collapse of the UK construction company Carillion.

Carillion • 24 Jan 18

Big UK banks said they would open funds for business customers in Carillion's supply chain

Banks give support for firms hit by Carillion collapse

The UK's biggest banks have announced a range of measures to support firms and contractors hit by the collapse of construction outsourcing company Carillion.

Business • 19 Jan 18

Infrastructure company Carillion collapsed on Monday when its banks pulled the plug on funding

May pressured to safeguard jobs after Carillion failure

Britain needs to allow more time for firms to take on 8,500 workers whose jobs are threatened by the demise of Carillion, UK unions said today.

Business • 17 Jan 18

Interserve's services include transport, highways, industrial and energy and utilities

Interserve shares recover following monitoring reports

Shares in Interserve plunged following reports that the outsourcing giant had been placed under the watch of the UK government amid fears for its financial health following the collapse of Carillion, but later made back much of the losses.

Business • 17 Jan 18