Carillion next steps: Committees initiate next round of witness, stakeholder responses

Tuesday, 22 May 2018 15:44

The Committees are today writing to witnesses and key stakeholders in the Carillion inquiry, inviting their responses to the inquiry’s findings. The letters include a request to former Treasury Committee Chair and incoming head of the Competition & Markets Authority, Andrew Tyrie, to ”demonstrate what a new broom you are at the CMA by asking your staff to initiate” a review of the options for breaking up the Big 4 “as soon as possible”. The Committees ask...Request free trial

The Committees are today writing to witnesses and key stakeholders in the Carillion inquiry, inviting their responses to the inquiry’s findings.

The letters include a request to former Treasury Committee Chair and incoming head of the Competition & Markets Authority, Andrew Tyrie, to ”demonstrate what a new broom you are at the CMA by asking your staff to initiate” a review of the options for breaking up the Big 4 “as soon as possible”.

The Committees ask the Chair of the Government’s Independent Review of the Financial Reporting Council, Sir John Kingman, to include the question of whether FRC leadership is equipped to effect the necessary change in the scope of the Review.

The Committees also have a series of questions to the Chair of The Pension Regulator. They express their disappointment at the “modest” scope of some targets in TPR’s latest corporate plan. They also note the current Secretary of State has confirmed her desire to see a Regulator that is “tougher, clearer, quicker”, and ask how TPR’s Board intends both to evaluate the performance of the current Chief Executive, and what the criteria will be for appointing or reappointing the next one. /ENDS

Notes:

The three letters described are attached. All will be published on the inquiry web page, in the correspondence section shortly after they are sent.

The Chairs will be inviting the Committees to agree to the responses being published in a special report in July, intended to inform the debate on reform going forward. The other recipients of these requests are:

DWP

BEIS

FRC

Philip Green

Richard Adam

Richard Howson

Zafar Khan

Alison Horner

Keith Cochrane

Emma Mercer

Andrew Dougal

KPMG

Deloitte

PWC

CBI

IoD

ICAEW

FCA

TUC

Carillion Pension Scheme Trustees

PPF

FSB

Full details of the inquiry including published evidence and correspondence, videos and transcripts of the oral evidence in Parliament can be found at Carillion joint inquiry

This inquiry builds on the Work & Pensions Committee’s inquiry into defined benefit pension schemes and the BEIS Committee’s work on corporate governance.