Aparently according to R4 business segment this morning they were paying dividends out to shareholders on the basis of anticipated revenues rather than actual profits. All sound very dodgy and the auditors KPMG are to be investigated.
Quote:
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Originally Posted by
Reuters
The FRC said it would look at issues such as how the auditors recognised revenue on significant contracts and accounted for pensions.
The trustee of Carillion’s pension scheme said on Monday it may have a deficit of about 990 million pounds.
“The FRC is progressing with urgent enquiries into the conduct of professional accountants within Carillion,” the FRC said in a statement.
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History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
