FRC investigates Carillion’s contract accounting, pensions

(Reuters) – Britain’s Financial Reporting Council (FRC) said on Wednesday it was investigating bankrupt construction firm Carillion’s contract accounting, reverse factoring, pensions, goodwill and going concern as part of its probe.

FILE PHOTO: A worker operates a crane on Carillion’s Midland Metropolitan Hospital construction site in Smethwick, Britain January 29, 2018. REUTERS/Darren Staples/File Photo

The FRC in January opened an investigation into KPMG’s auditing of the now-collapsed Carillion covering the years 2014 to 2017 and in March commenced a probe into the conduct of two former finance directors of the company.

Reporting by Arathy S Nair in Bengaluru, editing by Louise Heavens

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