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Big 4 ‘feasted’ on Carillion

16 February 2018

MPs investigating the demise of Carillion have accused the Big 4 firms of ‘feasting’ on the dying company.

A joint Commons committee found that together the Big 4 have collected nearly £72m from work related to Carillion. Since 2008 PwC was paid £21.2m, KPMG £20.2m, EY £18.3m, and Deloitte £12m, it said.

That PwC figure could rise to £150m in net fees for acting as the Official Receiver.
The joint-committee co-chair, Frank Field, suggested: “PwC managed to play all three sides, the company, pension schemes and the government to the tune of £21m and are now being paid to preside over the carcass of the company as special managers.”

He warned that the images of these companies feasting on what was soon to become a carcass will not be lost on citizens.

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