Number was revised upwards by interim chief Keith Cochrane
Carillion interim chief executive Keith Cochrane was forced to revise the 拢845m writedown it announced last July up by 拢150m just 24 hours before it published the figure.
Cochrane (pictured) had told a parliamentary inquiry looking into Carillion鈥檚 collapse earlier this month that he had taken a second look at the figure had decided to revise it up to the published 拢845m.
He didn鈥檛 state what he had revised it up from but the third session of the inquiry heard this morning that the original figure put on the writedown was 拢695m.
Peter Meehan, a partner at the firm鈥檚 auditor KPMG, said he, Cochrane and Emma Mercer, then the finance director of Carillion鈥檚 UK construction business and who later became the firm鈥檚 finance director, met on 9 July, a Sunday, before publishing the 拢845m writedown the following morning in a trading update.
Meehan said the three discussed the 鈥渁dequacy鈥� of the 拢695m figure, deciding it was not enough and revising it up by more than 20%.
In September, it was revised up again to just over 拢1bn.
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