The co-chairs of the investigation into Carillion鈥檚 failure are seeking further evidence

Carillion

Source: elliot-brown-carillion-birmingham

The MPs behind the inquiry into Carillion鈥檚 collapse have written to more than 20 people including business secretary Greg Clark, work and pensions secretary Esther McVey and former chief executive Richard Howson asking them to comment on their findings published last week.

The work and pensions and business committees have written to all the witnesses, as well as interested groups, from the inquiry telling them to get responses back by early July.

The letters include a , to launch a review of the Big Four accounting firms, including the possibility of breaking them up, at the earliest opportunity.

The letter asked Tyrie to 鈥渄emonstrate what a new broom you are at the CMA, by asking your staff to initiate that review as soon as possible鈥.

In their letter to Tyrie co-chairs Rachel Reeves and Frank Field said 鈥渋t looked increasingly inevitable that the CMA would conduct a review鈥 of the Big Four firms.

They wrote: 鈥淪ince our report was published, Bill Michael, chairman KPMG UK, said his firm had been thinking about break-up scenarios 鈥檉or some time鈥 as the current business model of the Big Four is 鈥檜nsustainable鈥.

鈥淥ther Big four firms have reportedly begun making preparations for a break-up.鈥

, who is chairing the government鈥檚 independent review of the Financial Reporting Council, asking him to include the question of whether FRC leadership is equipped to effect the cultural change laid out in the inquiry鈥檚 findings within his review.

Reeves and Field have also .

They expressed their disappointment at the 鈥渕odest鈥 scope of some targets in TPR鈥檚 latest corporate plan. 

They also noted that secretary of state Esther McVey has confirmed her desire to see a regulator that is 鈥渢ougher, clearer, quicker鈥, and ask how TPR鈥檚 board intends both to evaluate the performance of the current chief executive,  and what the criteria will be for either reappointing or reappointing the next one.

All parties have been asked to provide their feedback to the inquiry鈥檚 findings and answers to further questions by 4 July, with Field and Reeves saying they 鈥渋ntend to invite the committees to agree to publish those responses in full in a special report鈥 before the summer recess.

NameOrganisationRole

Alison Horner

Carillion

Chair of remuneration committee

Andrew Dougal

Carillion

Non-executive director and chair of audit committee

Carolyn Fairbairn

Confederation of British Industry

Director general

Nick Owen

Deloitte UK & Switzerland

Chairman

Emma Mercer

Carillion

Finance director

Esther McVey

Department for Work and Pensions

Secretary of state

Steve Varley

EY

Chairman and UK&I Managing Partner 

Andrew Bailey

Financial Conduct Authority

Chief executive

Stephen Haddrill

Financial Reporting Council

Chief executive

Mike Cherry

Federation of Small Businesses

National chairman

Michael Izza

Institute of Chartered Accountants in England and Wales

Chief executive

Stephen Martin

Institute of Directors

Director general

Keith Cochrane

Carillion

Interim chief executive

Bill Michael 

KPMG UK

Chairman and senior partner

Philip Green

Carillion

Chairman

Richard Adam

Carillion

Former finance director

Richard Howson

Carillion

Former chief executive

Robin Ellison

Carillion (DB) Pension Trustee Limited

Chairman

Sarah Albon

Insolvency Service

Chief executive

Frances O鈥橤rady

Trade Union Congress

General secretary

Zafar Khan

Carillion

Former finance director

Greg Clark

Department for Business, Energy and Industrial Strategy

Secretary of state

Andrew Tyrie

Competition & Markets Authority

Chairman

Sir John Kingman

Independent Review of the Financial Reporting Council

Chair

Mark Boyle

The Pensions Regulator

Non-executive chair

Source: Carillion inquiry