Audit updates: April 2018

In our monthly roundup of developments in audit and governance, KPMG defends its audit at Carillion hearing, PwC collects £2.8m Johnson Matthey audit from KPMG, AIM companies to follow a corporate governance code

‘Wide range of judgments’ at Carillion

KPMG has refuted suggestions from the management team at Carillion that delayed and disputed payments on a construction project in Qatar were the reason for the outsourcer’s sudden collapse, in evidence to a select committee inquiry.

The assertion was knocked down by Peter Meehan, KPMG audit partner for Carillion, who told MPs: ‘No, I cannot see how that was a cause in itself at all.’ At other points in his evidence, Meehan said he ‘did not recognise’ some of the figures committee members quoted from position papers prepared by Carillion’s finance team in the run up to the company’s write down in July 2017 nor its analysis of key contracts which were at risk.

‘All the

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