Home Business News MPs slam Carillion bosses for ‘recklessness and greed’

MPs slam Carillion bosses for ‘recklessness and greed’

16th May 18 10:15 am

Also said that bosses should face an inquiry

Bosses of the collapsed construction giant Carillion should face an inquiry into their fitness to serve as directors after they masked the company’s financial ill-health with accounting tricks, MPs said today.

The failure of Carillion was a story of “recklessness, hubris and greed” and could happen again, a 101-page report by the Work and Pensions committee and the Business, Energy and Industrial Strategy select committee said.

Meanwhile, Britain’s Financial Reporting Council (FRC) is now investigating Carillion’s contract accounting, reverse factoring, pensions, goodwill and going concern as part of its probe.

Carillion, which employed 43,000 people to provide services in defence, education, health and transport, collapsed in January this year, putting thousands of jobs at risk.

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