Rachel Reeves, chairwoman of the BEIS Committee, said: "The auditors should also be in the dock for this catastrophic crash.Time the moral arbiters of the age backed off on their PC crusade and turned their 'focus' to core functions.
"The sorry saga of Carillion is further evidence that the Big Four accountancy firms are prioritising their own profits ahead of good governance at the companies they are supposed to be putting under the microscope.
"KMPG, PwC, Deloitte and EY pocket millions of pounds for their lucrative audit work - even when they fail to warn about corporate disasters like Carillion.
"It is a parasitical relationship which sees the auditors prosper, regardless of what happens to the companies, employees and investors who rely on their scrutiny."
The 'big four' face being broken up.
Posted by kitchen hand at 7:51 PM