Taking Stock 

Insolvencies herald the bears

Mark Robinson

Insolvencies herald the bears

The recent collapse of Carillion has led to a parliamentary inquiry on public sector outsourcing, while the ‘Big Four’ accountancy firms have been hauled over the coals for their temerity in charging a public company for the provision of professional advisory services. Doubtless lead auditor KPMG will be asked about its interpretation of what constitutes a “going concern”, but surely there has been a broad-based failure in risk management. Anyway, whatever the outcome of the various post-mortems, the demise of the former FTSE 250 constituent forms part of a wider narrative.

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