Audit shake-up needed to prevent another Carillion, Government reports claim

By Martin Ford | 19 December 2018

A new financial regulator and a shake-up of the ‘big four’ audit firms is needed to prevent another collapse on the scale of Carillion, two reports have found.

In a Government-commissioned independent review of the Financial Reporting Council (FRC), Sir John Kingman, recommended replacing it with a beefed-up independent statutory regulator accountable to Parliament.

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