The co-chairs of the investigation into Carillion鈥檚 failure are seeking further evidence
The MPs behind the inquiry into Carillion鈥檚 collapse have written to more than 20 people including business secretary Greg Clark, work and pensions secretary Esther McVey and former chief executive Richard Howson asking them to comment on their findings published last week.
The work and pensions and business committees have written to all the witnesses, as well as interested groups, from the inquiry telling them to get responses back by early July.
The letters include a , to launch a review of the Big Four accounting firms, including the possibility of breaking them up, at the earliest opportunity.
The letter asked Tyrie to 鈥渄emonstrate what a new broom you are at the CMA, by asking your staff to initiate that review as soon as possible鈥.
In their letter to Tyrie co-chairs Rachel Reeves and Frank Field said 鈥渋t looked increasingly inevitable that the CMA would conduct a review鈥 of the Big Four firms.
They wrote: 鈥淪ince our report was published, Bill Michael, chairman KPMG UK, said his firm had been thinking about break-up scenarios 鈥檉or some time鈥 as the current business model of the Big Four is 鈥檜nsustainable鈥.
鈥淥ther Big four firms have reportedly begun making preparations for a break-up.鈥
, who is chairing the government鈥檚 independent review of the Financial Reporting Council, asking him to include the question of whether FRC leadership is equipped to effect the cultural change laid out in the inquiry鈥檚 findings within his review.
Reeves and Field have also .
They expressed their disappointment at the 鈥渕odest鈥 scope of some targets in TPR鈥檚 latest corporate plan.
They also noted that secretary of state Esther McVey has confirmed her desire to see a regulator that is 鈥渢ougher, clearer, quicker鈥, and ask how TPR鈥檚 board intends both to evaluate the performance of the current chief executive, and what the criteria will be for either reappointing or reappointing the next one.
All parties have been asked to provide their feedback to the inquiry鈥檚 findings and answers to further questions by 4 July, with Field and Reeves saying they 鈥渋ntend to invite the committees to agree to publish those responses in full in a special report鈥 before the summer recess.
Name | Organisation | Role |
---|---|---|
Alison Horner |
Carillion |
Chair of remuneration committee |
Andrew Dougal |
Carillion |
Non-executive director and chair of audit committee |
Carolyn Fairbairn |
Confederation of British Industry |
Director general |
Nick Owen |
Deloitte UK & Switzerland |
Chairman |
Emma Mercer |
Carillion |
Finance director |
Esther McVey |
Department for Work and Pensions |
Secretary of state |
Steve Varley |
EY |
Chairman and UK&I Managing Partner |
Andrew Bailey |
Financial Conduct Authority |
Chief executive |
Stephen Haddrill |
Financial Reporting Council |
Chief executive |
Mike Cherry |
Federation of Small Businesses |
National chairman |
Michael Izza |
Institute of Chartered Accountants in England and Wales |
Chief executive |
Stephen Martin |
Institute of Directors |
Director general |
Keith Cochrane |
Carillion |
Interim chief executive |
Bill Michael |
KPMG UK |
Chairman and senior partner |
Philip Green |
Carillion |
Chairman |
Richard Adam |
Carillion |
Former finance director |
Richard Howson |
Carillion |
Former chief executive |
Robin Ellison |
Carillion (DB) Pension Trustee Limited |
Chairman |
Sarah Albon |
Insolvency Service |
Chief executive |
Frances O鈥橤rady |
Trade Union Congress |
General secretary |
Zafar Khan |
Carillion |
Former finance director |
Greg Clark |
Department for Business, Energy and Industrial Strategy |
Secretary of state |
Andrew Tyrie |
Competition & Markets Authority |
Chairman |
Sir John Kingman |
Independent Review of the Financial Reporting Council |
Chair |
Mark Boyle |
The Pensions Regulator |
Non-executive chair |
Source: Carillion inquiry
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