FTI Consulting accused government contractor of using aggressive accounting to mask underperformanceDirectors of the collapsed government contractor Carillion masked its financial ill-health with aggressive accounting,according to a secret report written last year for banks that were considering lending the company more money to outlive.
MPs published the report on Sunday as part of a continuing inquiry into the collapse of a company that provided a host of vital public services, including catering in schools, and prison maintenance and construction of modern NHS hospitals. Frank Field,chair of the Commons work and pensions committee, said the document was evidence of “grievous failings of corporate governance and accounting” at Carillion.
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Source: guardian.co.uk