Carillion praised by regulator before fall - News Summed Up

Carillion praised by regulator before fall


Carillion, which collapsed in January, was lauded by the Financial Reporting Council in December 2016 DANIEL SORABJI/GETTY IMAGESBritain’s chief accounting regulator singled out Carillion for commendation as a model of good accounting practice only months before it began to implode, according to documents seen by The Times. The construction and outsourcing group, whose accounting was criticised by MPs this week as being “aggressive” and “intended to deceive”, was one of four listed companies praised by the Financial Reporting Council in a report in December 2016 into dividend policy and disclosure. Carillion was described as an example of “good practice” and praised for providing “insight into factors relevant to the setting of the dividend”. An investigation by MPs into the demise of the company, published this week, found that for years it had been paying out far too much in dividends at the…


Source: The Times May 16, 2018 23:00 UTC


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